5 ms·

The fact that they walked this back so quickly suggests that they either are strapped for cash or have extremely out-of-touch leadership. Both are worrying.

bevelwork 4y ago
Looks to be about 250M/year [source](https://about.gitlab.com/press/releases/2022-03-14-gitlab-reports-fourth-quarter-and-full-year-fiscal-2022-financial-results.html https://about.gitlab.com/press/releases/2022-03-14-gitlab-re...)
- ceejayoz 4y ago
  That's revenue. They're spending more money than they're making.
- judge2020 4y ago
  While they have 884M cash/equivalents, they did have a yearly 157M Net loss, compared to 192M net loss last year. That's some good improvement but it means there's a lot of work to be done before they reach profitability. So I don't think they're strapped for cash, but there is likely pressure to make enough changes to reach profitability within 3-4 years.
- semiquaver 4y ago
  https://ir.gitlab.com/node/7446/pdf https://ir.gitlab.com/node/7446/pdf They burned $129MM and forecast a loss of $142MM next fiscal year. Given that they recently went public I’d imagine they would be trying to become profitable. The IPO appears to have netted them around $600M in cash, or about four years of runway.
kyrofa 4y ago
Indeed. The fact that they're also limiting free organizations to 5 members (counting members of sub-groups)[1], which feels truly arbitrary, seems to agree. [1]: https://about.gitlab.com/blog/2022/03/24/efficient-free-tier/ https://about.gitlab.com/blog/2022/03/24/efficient-free-tier...
- xyzzy_plugh 4y ago
  I seem to recall GitHub making some similar changes just prior to being acquired. Perhaps they are trying to make their books look good for suitors?
  - blackoil 4y ago
    IIRC, GitHub always had this limit. They removed it sometime after the acquisition, which could be because they have no pressure to justify the valuation be revenue.
gloryjulio 4y ago
- crgwbr 4y ago
  GitHub is owned by MS, not gitlab.
- birger 4y ago
  That is GitHub. This is about GitLab.
  - gloryjulio 4y ago
    Yeah my mistake. Read it wrong
Gigachad 4y ago
Is the title really accurate though. They never made a public announcement saying they would do this. Someone just leaked an internal discussion and it blew up. A lot of things get discussed and evaluated that never eventuate.
- simonw 4y ago
  The code they wrote for doing this has been public all along: https://gitlab.com/gitlab-org/gitlab/-/merge_requests/85689 https://gitlab.com/gitlab-org/gitlab/-/merge_requests/85689
  - OmegaDungeon 4y ago
    This is the first time I'm seeing this merge request, no one reporting on this even mentioned it.

bevelwork 4y ago

Looks to be about 250M/year [source](https://about.gitlab.com/press/releases/2022-03-14-gitlab-reports-fourth-quarter-and-full-year-fiscal-2022-financial-results.html https://about.gitlab.com/press/releases/2022-03-14-gitlab-re...)

ceejayoz 4y ago
That's revenue. They're spending more money than they're making.
judge2020 4y ago
While they have 884M cash/equivalents, they did have a yearly 157M Net loss, compared to 192M net loss last year. That's some good improvement but it means there's a lot of work to be done before they reach profitability. So I don't think they're strapped for cash, but there is likely pressure to make enough changes to reach profitability within 3-4 years.
semiquaver 4y ago
https://ir.gitlab.com/node/7446/pdf https://ir.gitlab.com/node/7446/pdf They burned $129MM and forecast a loss of $142MM next fiscal year. Given that they recently went public I’d imagine they would be trying to become profitable. The IPO appears to have netted them around $600M in cash, or about four years of runway.

kyrofa 4y ago

Indeed. The fact that they're also limiting free organizations to 5 members (counting members of sub-groups)[1], which feels truly arbitrary, seems to agree. [1]: https://about.gitlab.com/blog/2022/03/24/efficient-free-tier/ https://about.gitlab.com/blog/2022/03/24/efficient-free-tier...

xyzzy_plugh 4y ago
I seem to recall GitHub making some similar changes just prior to being acquired. Perhaps they are trying to make their books look good for suitors?
- blackoil 4y ago
  IIRC, GitHub always had this limit. They removed it sometime after the acquisition, which could be because they have no pressure to justify the valuation be revenue.

gloryjulio 4y ago

crgwbr 4y ago
GitHub is owned by MS, not gitlab.
birger 4y ago
That is GitHub. This is about GitLab.
- gloryjulio 4y ago
  Yeah my mistake. Read it wrong

Gigachad 4y ago

Is the title really accurate though. They never made a public announcement saying they would do this. Someone just leaked an internal discussion and it blew up. A lot of things get discussed and evaluated that never eventuate.

simonw 4y ago
The code they wrote for doing this has been public all along: https://gitlab.com/gitlab-org/gitlab/-/merge_requests/85689 https://gitlab.com/gitlab-org/gitlab/-/merge_requests/85689
- OmegaDungeon 4y ago
  This is the first time I'm seeing this merge request, no one reporting on this even mentioned it.