GitLab Names Chris Weber Chief Revenue Officer and Confirms Second Quarter and Annual Guidance

Long-time Microsoft executive joins the company to fuel its next phase of growth

SAN FRANCISCO, July 18, 2023 (GLOBE NEWSWIRE) -- All Remote - GitLab Inc., ​​the most comprehensive AI-powered DevSecOps platform, announced the appointment of Chris Weber as its chief revenue officer effective today.

Weber will be responsible for the planning and execution of global revenue operations at GitLab as the company scales toward its next phase of growth. He will oversee all field operations, including sales, customer success and strategic partnerships.

Weber has held senior management roles for more than 20 years, leading enterprise sales strategy, building high performing teams, and managing global customer relationships across industries.

He previously served as the first-ever chief business officer at UiPath and held numerous leadership positions at Microsoft, most recently as corporate vice president, worldwide commercial business, where he played a key role in driving enterprise sales growth across four solution areas - Modern Workplace, Business Applications, Apps & Infrastructure, and Data & AI. In his time at Microsoft, he also built one of the world’s largest cloud ecosystems of channel partners.

Weber succeeds Michael McBride, who will remain with the company until August 1, 2023 to help with a smooth transition. Over the past five years, McBride was instrumental in scaling GitLab from a private company to a successful public company and the most comprehensive AI-powered DevSecOps platform globally.

GitLab Confirms Second Quarter and Annual Guidance and Announces Second Quarter Earnings Date

The Company confirms its second quarter and fiscal year 2024 guidance previously provided in the Company’s first quarter fiscal year 2024 earnings release issued on June 5, 2023, as follows:

For the second quarter and fiscal year 2024, GitLab Inc. expects (in millions, except share and per share data):

	Q2 FY 2024 Guidance		FY 2024 Guidance
Revenue	$129.0 - $130.0		$541.0 - $543.0
Non-GAAP operating loss	$(11.0) - $(10.0)		$(47.0) - $(43.0)
Non-GAAP net loss per share assuming approximately 153 million and 153 million weighted average shares outstanding as of Q2 FY2024 and FY24, respectively	$(0.03) - $(0.02)		$(0.18) - $(0.14)

These statements are forward-looking and actual results may differ materially as a result of many factors. Refer to the Forward-Looking Statements safe harbor below for information on the factors that could cause our actual results to differ materially from these forward-looking statements.