In February 2021, the Company along with Sequoia CBC Junyuan (Hubei) Equity Investment Partnership (Limited Partnership) and Suzhou Gaocheng Xinjian Equity Investment Fund Partnership (Limited Partnership) executed an investment agreement (the “Investment Agreement”) to establish GitLab Information Technology (Hubei) Co., LTD (“JiHu”), a legal entity in the People’s Republic of China. The Company accounted for JiHu as a variable interest entity and consolidated the entity in accordance with ASC Topic 810, Consolidation. As of July 31, 2025 and 2024, the Company retains control over JiHu with its equity stake at approximately 54% for each period presented.

Since fiscal year 2023, JiHu has maintained an employee stock option plan (“JiHu 2022 ESOP”) for its employees. In June 2024 and June 2025, the board of directors of JiHu approved new employee stock option plans (“JiHu 2024 ESOP” and “JiHu 2025 ESOP”, respectively) for its employees in order to grant additional shares. The fair value of restricted stock awards (“RSAs”) and stock option awards is measured on the date of grant and compensation costs related to these awards are recognized on a graded attribution method; as the grants include a performance condition for the JiHu 2022 ESOP, JiHu 2024 ESOP, and JiHu 2025 ESOP (“JiHu ESOPs”).

During the three and six months ended July 31, 2025, the Company recorded $1.0 million stock-based compensation expense and $0.8 million stock-based compensation expense (net of forfeitures), respectively. During the three and six months ended July 31, 2024, the Company reversed stock-based compensation previously recorded which resulted in a $0.1 million stock-based compensation net expense and a $0.2 million net gain, respectively, due to forfeitures resulting from the departure of key executives.

As of July 31, 2025, approximately $5.6 million of total unrecognized compensation cost was related to the JiHu ESOPs that is expected to be recognized over a weighted-average period of 2.8 years.

JiHu has various non-cancelable long-term operating leases maturing by June 25, 2027 with total lease payments of $0.4 million and a total present value of lease liabilities of $0.4 million. In addition, JiHu has various other short-term leases. Lease expense associated with short-term leases was $0.1 million for each of the three and six months ended July 31, 2025 and immaterial for each of the three and six months ended July 31, 2024.

The Company recognized $0.1 million of operating lease expense for each of the three and six months ended July 31, 2025. The Company recognized $0.1 million and $0.3 million of operating lease expense during the three and six months ended July 31, 2024, respectively.

The table below presents supplemental information related to operating leases for the six months ended July 31, 2025 (in thousands, except weighted-average information):



Weighted-average remaining lease term (in years)	1.32
Weighted-average discount rate	3.2		%
Right-of-use assets obtained in exchange for new operating lease liabilities	$	131
Cash paid for amounts included in the measurement of lease liabilities	$	145


	Three Months Ended July 31,				Six Months Ended July 31,
	2025		2024		2025		2024

Revenue	$	2,174	$	1,775	$	4,059	$	3,421
Cost of revenue	410		535		934		1,019
Gross profit	1,764		1,240		3,125		2,402
Operating expenses:
Sales and marketing	1,500		1,410		2,972		3,044
Research and development	657		578		276		367
General and administrative	1,636		908		2,924		1,746
Total operating expenses	3,793		2,896		6,172		5,157
Loss from operations	(2,029)		(1,656)		(3,047)		(2,755)
Interest income	155		231		320		457
Other income (expense), net	(45,491)		(42)		(45,466)		305
Net loss before income taxes	(47,365)		(1,467)		(48,193)		(1,993)
Provision for income taxes	2		—		3		—
Net loss	$	(47,367)	$	(1,467)	$	(48,196)	$	(1,993)

Net loss attributable to noncontrolling interest	$	(788)	$	(675)	$	(1,171)	$	(918)


	July 31, 2025		January 31, 2025

Cash and cash equivalents	$	37,480	$	37,991
Property and equipment, net	568		322
Operating lease right-of-use assets	393		381
Other assets	7,165		7,804
Total assets	$	45,606	$	46,498

Total liabilities	$	11,153	$	10,278