Now that Getquin is in sync, the last six weeks look busier than I remembered. I did quite a bit of cleaning in the individual stocks.

What went out:

• $CAI (Caris Life Sciences): all of it. 50 shares at $31.50 in September, the last 250 at $27.01 last week. Held for 336 days, +€868.37 (+13.30%) according to Getquin.
• $DLO: 211 shares at $14.56, 350 left.
• $GTLB: 40 shares at $54.55, 200 left.
• $NVDA: 25 shares at $240, 75 left. Yes, Nvidia again. I know. 😅

Why? For the $CAI (-5,57%) shares it was because I wasn't feeling too comfortable anymore with the biotech pick. Even though they are doing quite well, I always struggle with understanding this business.

As for $DLO (-4,51%) : I had one position in my high-risk portfolio and another in my more broadly diversified one. I actually sold the shares in my high-risk portfolio because I bought those at a lower average price, and since I had quite a decent position in my other portfolio, it was time to close a part.

$GTLB (-4,54%) Is because of the exposure to $MSFT (-1,04%) . Since MSFT has GitHub, I felt GitLab was putting too much into the pipeline game.

$NVDA (-2,5%) is some trimming and profit-taking after a strong run-up. For now at least it looks like I picked the top because I sold them at $240 :D

Still in the portfolio: $MSFT, $MELI, $SE, $GTLB, $DLO and $NVDA. The bulk sits in ETFs ($EQAC, $CSPX, $VWCE, $SPYI), and that part doesn’t move.

What do you think? Did I sell too soon? Or maybe not soon enough? Are you also trimming some gains (or losses)?

$GTLB (-4,54%)

⠀

📊 𝐑𝐞𝐬𝐮𝐥𝐭𝐬

• Adj. EPS: $0.24 (Est. $0.18) ✅

• Revenue: $286.3M (Est. $273.36M) ✅, +21% YoY.

• Adj. Operating Margin: 15%, vs. 17% YoY.

• Adj. Operating Income: $42.6M, vs. $39.6M YoY.

• cRPO: $744.7M, +20% YoY.

• Dollar-Based Net Retention Rate: 117%.

⠀

🎯 𝐆𝐮𝐢𝐝𝐚𝐧𝐜𝐞

• Q3 FY2027 Revenue: $281M–$283M (Est. $281.43M)

• Q3 FY2027 Adj. EPS: $0.19–$0.20 (Est. $0.18) ✅

• FY2027 Revenue: $1.129B–$1.133B (Est. $1.12B) ✅

• FY2027 Adj. EPS: $0.85–$0.87 (Est. $0.81) ✅

• FY2027 Adj. Operating Income: $148M–$152M.

⠀

📌 𝐊𝐞𝐲 𝐓𝐚𝐤𝐞𝐚𝐰𝐚𝐲𝐬

• Revenue grew 21% YoY and beat consensus, while Adj. EPS also came in ahead of expectations.

• Net ARR growth exceeded 40% YoY, while gross bookings reached a record level.

• cRPO increased 20% YoY to $744.7M, while total RPO grew 16% to $1.2B.

• Customers with more than $100K of ARR increased 17% YoY to 1,571.

• GitLab introduced Flex and continued expanding its AI offering, including GitLab Orbit and Duo Agent Platform.

⠀

💬 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐂𝐨𝐦𝐦𝐞𝐧𝐭𝐚𝐫𝐲

“Q2 was an exceptional quarter, with record gross bookings and net ARR growth exceeding 40% year over year.”

Options exploded 20000%-30000% in 1 day (rare).

Next week, there's 4 earnings with exact same set-up:

1. $CRWD (-2,52%) 📅 Earnings: June 3 (After Close)

As enterprises deploy thousands of AI agents, cloud workloads, and connected endpoints, the security perimeter expands infinitely, making Falcon's AI-driven threat detection not optional but mandatory.

No one builds a $500B AI datacenter and skimps on security. $CRWD is the toll booth on the AI buildout highway and that moat compounds with every new customer and dataset feeding its threat intelligence engine.

Target: $800 median | $700 Wedbush & Benchmark | $750 Oppenheimer

2. $AVGO (-2,31%) 📅 Earnings: June 2 (After Close)

Custom AI chip (XPU) demand from hyperscalers accelerating every quarter. $AVGO is the silent infrastructure backbone of the AI supercycle.

While $NVDA (-2,5%) dominates training, Broadcom owns the custom silicon layer designing the XPUs that $GOOG (-0,13%) , $META (-1,06%) , and Tiktok use to run inference at hyperscale, plus the networking chips that stitch datacenters together.

As hyperscalers race to reduce $NVDA (-2,5%) dependency and build proprietary AI chips, Broadcom is the only company with the design expertise and manufacturing relationships to deliver.

Target: $500 avg | $480 Susquehanna | $560 high

3.$PANW (-2,77%) W 📅 Earnings: June 2 (After Close)

Platformization strategy converting AI security budgets into sticky, recurring revenue.

AI doesn't just create new threats it supercharges existing ones, making next-gen cybersecurity a non-negotiable line item for every enterprise on the planet.

PANW's platformization strategy is purpose-built for this world: one unified platform replacing dozens of point solutions, with AI models running across network, cloud, and endpoint security simultaneously.

Target: $320 avg | $340 high | $300 median (75 analysts)

4.$GTLB (-4,54%) B 📅 Earnings: June 2 (After Close)

AI-native DevSecOps platform controls full dev lifecycle as code volumes explode.

AI is going to produce more code in the next five years than humans wrote in the last fifty and all of it needs to be managed, secured, and deployed somewhere.

While competitors like GitHub Copilot focus on code generation, GitLab controls the entire pipeline and that becomes more valuable, not less, as AI-generated code volumes explode.

Target: $40 median | $60 high (Macquarie) | $27 low (Cantor)

$ORCL (-2,91%) earnings is on June 10 and $MU (-2,01%) is on June 24. These will explode like $DELL (-4,11%) did most likely.

$GTLB (-4,54%)

🔹 Revenue: $244.4M (Est. $239.09M) 🟢; UP +25% YoY

🔹 EPS: $0.25 (Est. $0.20) 🟢

🔸 GitLab appointed Jessica Ross as Chief Financial Officer effective January 15, 2026, succeeding interim CFO James Shen.

Guidance:

🔹 FY'26 Revenue: $946M–$947M (Est. $942M) 🟢

🔹 FY'26 EPS: $0.95–$0.96 (Est. $0.84) 🟢

🔸 CEO Bill Staples: “New CFO brings extensive public company experience and a proven track record leading finance, strategy, and operational excellence at some of the world’s most respected technology companies.”

$GTLB (-4,54%)

🔹 Adj. EPS: $0.33 (Est. $0.23) 🟢

🔹 Revenue: $211.4M (Est. $206.72M) 🟢; UP +29% YoY

Q1'26 Guidance:

🔹 Revenue: $212M-$213M (Est. $212.51M) 🟡; UP +~26% YoY

🔹 Adj. Operating Income: $21M-$22M

🔹 Adj. EPS: $0.14-$0.15 (Est. $0.15) 🟡

FY26 Guidance:

🔹 Revenue: $936M-$942M (Est. $938.72M) 🟡

🔹 Adj. Operating Income: $109M-$114M

🔹 Adj. EPS: $0.68-$0.72 (Est. $0.78) 🔴

Q4 Segment & Customer Metrics:

🔹 Dollar-Based Net Retention Rate: 123%

🔹 Customers >$5K ARR: 9,893; UP +15% YoY

🔹 Customers >$100K ARR: 1,229; UP +29% YoY

🔹 Customers >$1M ARR: 123; UP +28% YoY

🔹 Total RPO: $945M; UP +40% YoY

🔹 cRPO: $579.2M; UP +35% YoY

Key Financial Metrics:

🔹 Adj. Free Cash Flow: $62.1M; UP from $24.5M YoY

🔹 Adj. Operating Margin: 18% (Prev. 8%)

🔹 GAAP Operating Loss: $(15.4)M (Improved from $(34.9)M YoY)

🔹 GAAP Net Income: $10.8M (Prev. $(36.9)M YoY)

🔹 Cash & Equivalents: $334.52M

Strategic & Shareholder Updates:

🔸 GitLab Duo Self-Hosted launched to enhance AI-powered DevSecOps

🔸 GitLab Duo Workflow (Private Beta) announced

🔸 Ian Steward appointed as CRO (Effective May 3, 2025)

🔸 David Henshall joins Board of Directors

CEO Bill Staples' Commentary:

🔸 "AI is transforming software development, and GitLab's platform ensures security, privacy, and compliance at scale. With GitLab Duo, our customers can accelerate software delivery while maintaining control."