GitLab Inc. (NASDAQ:GTLB) Q3 2023 Earnings Call Transcript

Mike Cikos: Thanks for getting me on here, guys. And I appreciate the qualitative commentary on the fiscal ’24 growth and the free cash flow target in fiscal ’25, both those bogeys, good to have that out there and appreciate the visibility you guys are pointing to. What I’d like to cycle back to, you guys are one of, if not among the very few who are calling out sales cycles, again, compressing. And in the midst of that, we also have this commentary that you are seeing some more deal scrutiny. Can you help me think about that deal scrutiny versus the sales cycles actually accelerating, right? Is — are the sign-offs really more at the margin? Or how is that coming into play when we think about the sales cycles versus that scrutiny you guys are talking about. Can you help us marry those two up, please?

Brian Robbins: Absolutely. There’s several different stages in closing a deal, and the review process is getting a little longer, but the overall closed deal sales cycle has shortened by a couple of days. It doesn’t have really any impact to the financials, the way that you do revenue recognition. And so, just as we go through it, I wanted to call that out. We called out last quarter. But I also want to address that overall we are starting to feel some of the impacts of macro and some of the watch points that we’re looking at.

Sharlene Seemungal: With that, I’ll turn things back to Sid for closing remarks.

Sid Sijbrandij: Thank you so much for your time today. I’d like to thank all of our customers for trusting GitLab to help them achieve their business objectives. I’d like to thank our partners, the wider GitLab community and, of course, our GitLab team members for all their continued contributions. You all had a big part in our success. Thank you.

Sharlene Seemungal: Thanks again once more for joining us, and have a great day.