GitLab (GTLB) Q2 2027 earnings call transcript

Now I am pleased to join this meeting with Nick Edwards. Good morning, we are coming to the press conference for the second quarter of the year of KITLAIP in 2027. I am Nick Edwards, co-leader of the board of directors of the board of directors and operations, Our Head Administrator, Pils Tables and Head Administrator, Jessica Rose Agior is with me. Today's press conference is about the results of the second quarter and the year-end results, as well as the roadmap for the year-end of 2027. The materials we have prepared in this conference include our participation letter, news report, first-time investor's announcement and our first-time investor's relationship information, which can be found at www. artartgitlab. com. Before we begin, I would like to state the safety declaration of the Ministry of Defence, Safe Harbour Statement.

On the second side of our bill, I would like to invite you to watch the preliminary declaration of the The This is a discussion on the current situation of the GAP. These GAP-free activities are not only a measure of the impact of the current situation of the GAP, but also a measure of the impact of the current situation of the GAP. For more information on these GAP-free activities and their direct GAP contributions, please visit our website and website. Now I will hand over the call to Bill.

Bill, thank you. Greetings to everyone. The first quarter is a good quarter. I will start with some important figures. The income is 286.3 million. This is 21 billion more than the previous year. Moreover, the operating income other than GAP is 42.6 million. This is the 15 billion operating income. Our company's history has a very large total of 30 billion quarter. The year before that, 40 billion was grown. This will be a very high growth in many years. We have also identified many factors for the first orders. This has grown to be above 100% per year. Under these guidelines, we would like to share a brief update on each of the five growth attempts we have taken for this year.

First, we would like to tell you that it is important to identify the first orders. Q2 is the third year in which our first order is very large. The first order has grown to be above 100% per year. Moreover, the first order has increased by about 40%. Our first order organization is creating new sales activities. At the same time, the first place in the industry is expanding the capital. This is bringing at least a new number of new investors to GitLab. It is important to recruit a large number of new investors to start AI startups and small orders. Because our current $1 billion run rate is half the value, we are coming from the investors with low $5000 first orders.

The investors are ready to start there, so we will join them and grow with them in the future. Secondly, we said that the increase in the production and sales of the industry will be an important reason to close it down. Moreover, we saw that the industry will start to prosper in Q2. The number of workers increased by 30 per year. At the same time, the production of the production plant for the first time increased by 10 per year. The number of workers who come out for the second quarter of the year has also increased by year. It is difficult to increase the production of the plant at the same time. We believe that this proves that the first places we started our business are already in the market.

We believe that this is the reason why the entire entire cooking industry in the history of the kitlep industry has grown and the local cattle production has increased by 40%.

Third, we want to tell you that it is important for us to expand our monetary vector. Our existing infrastructure is constantly growing and increasing. Moreover, the activities that are happening throughout the life of the men's industry are creating more opportunities for the kitlep industry to make more money. In order to make that happen, FLEX will be an important part of the business. After 6 weeks, more than 130 investors have started investing more than $20 million in FLEX. The initial resistance is that investors want to take advantage of their needs, their budget, their new product designs, and their new products. Before the arrival of the FLEX, the investors paid for the land in the forecasted amount for premium or ultimate terms.

The FLEX changes that. Investors now have a specific stock as their first place. Every month they can decide who to use it for their land and other property projects. This first place can be used for any project in the forecasted amount and in the land. If the number of agents and other major producers drops, we have a very high chance of getting a good return. The effort we make to reduce the time between the interest rate of the investors and their interest rate is good for the investors and the GitLab. Flex is a term that has been used in three important ways.

First, it helps the investors to get a good return on every dollar spent on GitLab. Instead of wasting unused resources, investors can return their money to their more valuable investments. By reducing the loss and shortage of investors who are affected by the unused use and expenses, we believe that our already healthy security will be strengthened. Flex sales and income issues are also reduced. Because if one time the interest rate is increased, each time a new loan agreement is required, the investors can pay the money for the new and upcoming preparations that they need throughout the year. We will already increase sales and production rates. By spending less time on our joint loans, and spending more time on the value of the investors, we will Flex helps to make the trade even more productive by spending more time on the feeling of productivity.

Third, when the needs of traders grow, it allows the use to be restricted. Traders can use this quality of preparation and demand for the trade above the required price to produce premium and ultimate seats. Moreover, the contract will be issued within the month of their approval for the above use. This increases the profitability of the tenants by removing the necessary improvements and joint investments to calculate more use. When the use is expanded, it creates another possible growth for the community. Thanks to the Flex announcement, the building's growth rate in the quarter has exceeded $40 million, which has risen from $15 million in Q1. In other words, the construction CRR is a specific period of time in which the cost of construction, flex, and construction needs are covered.

This does not include tests and other costs. We believe that the construction CRR is a useful way for the first-time contractors to monitor the construction that is going on. We expect that this year we will have to spend $100 million in the interest of $6.5 million. In the beginning of this year, we were investing only in seed funds. Now, we expect that this year we will complete this year with a significant and growing growth of seed funds.

Fourth, we should improve our performance in the price-sensitive trading divisions. I am happy to note that the situation in SMB, SMB and other middle-class markets in this year and the two that have been the first and first orders have worked better than our competitors. I will take this decision. We were confident that this division would increase the attention and the first-hand activity. Moreover, the decisions of this year are promising. We would like to maintain the same activity in the next few years, but we are on the right track, and we are more confident. Fifth, we are working on a flexible EI policy. In this year, we will be working on a CRR call of the TO agent head to issue credit To achieve this, the CRR call of the TO agent leadership has grown by about 50% in the call base.

After the first quarter of the year America was in a good shape, we have expanded the technology to the next level. Moreover, in the first 20 US banks, the AI credit rate has increased by nearly 10 times in this quarter. But I think the AI story of the economy is still important. I believe that the situation in which the product is created, protected and sent beyond a certain threshold is a result of the development of GitLab through the use of brain-signature, errors, merge requests, pipelines, transactions, agreements and We will show you the initial instructions for this through our GITLAB OBIIT. Since the beginning of the June PITA campaign, more than 2,200 companies have been operating OBIIT indexing.

This will increase by 70% in four weeks. The number of tenants has increased by 1,70,000. The number of business owners in the 80-day market is increasing with the help of the Cloud, CloudCode and Codex. We have just started seeing the evidence that the market is improving the market's activity. The market's test was conducted with the help of the traditional ROG ROG, which has 79 true Merch requirements. The rate has risen from 58 to 70 per day. We can see the same change throughout our country. Year-on-year, the number of protected areas has increased by 60 acres, the number of because it's strong, this is important. Ultimate Ultimate is now on sale at a price of $1,059, and in this year, it is one of the first 10 agreements we have had.

A premium, premium, and ultimate ultimate will become the basis for a billion dollar income, and we look forward to more opportunities in the future. We are looking for opportunities to create new projects, new opportunities, and new types of work through AI as well as through Ketlap.

Before I leave Jessica, I would like to thank two important groups. First, our Crow Ian Suvard and the United Trade Union. Ian is now in GitLab for five years. The decisions we have made today, in creating the infrastructure, in increasing our capacity, in creating the group that operates it, I would like to express my sincere gratitude for the efforts made over the past few years. I would like to especially congratulate the entire KITLAB, GitLab and the team because we have made a difficult decision to restore the company in the beginning of this year. Many have decided to continue to create the next KITLAB. Together, we have developed one of the most powerful years in the history of our company.

Thank you to everyone in KITLAB for your hard work, determination and confidence.

Thank you, Bill. Thank you for joining us today. The second quarter is a good quarter and we believe it is an important turning point for this sector. The annual income was 286.3 million. This is about five quarters ahead of the annual income of 21 acres and our revenue. We have achieved a very strong total revenue quarter in the history of the company. The annual income of the city was 42 acres. In the past four years, our second highest growth quarter. The dollar-sourced capital increase in 2024 was the first time in the history of the Kuppirag. We have overcome many of these profit expectations. Our capital has been a great help to new and already existing investors and to many new investors This has been a great help to every investor and to our major players This rapid growth is a great help to us in the development of this large scale is a great relief for us We have achieved more than we expected We have seen better performance and sales growth than expected We have grown more than 5 lakhs or more than that in 150 villages a year Our biggest investors are almost 50 million people.

We have a very large business. We have a very large business. We have a very large business. We have a very large business. Our biggest investors are making their investment on kitlab. This is a clear indication. The public sector is also in a position to be in this period. When the returns on the previous year's returns return to normal, we expect that the return will continue. We saw a real change in the new investor's contribution. In this period, we received about 1700 first orders. This is more than a year ago. The new logo grew 39 acres per year.

The growth of this year has exceeded our expectations. We are concerned about the many farmers who choose big and small crops.

Today, we have a share of farmers who have lost more than $1 billion in the previous year's income. It is our responsibility to unite them and grow with them. This helps to grow the farmers in the future. Kitlab Ultimate, Kitlab Ultimate, was built in the year of the The The total RPO, RPO increased by 16 billion per year to 1.2 billion, and the original RPO increased by 20 billion to 744.7 billion. The estimated billing has grown by 24 billion. This is two times the 12 billion growth rate we recorded in the past year. Our growing preparations are getting real results. The building of the TO-DUO agent floors, CRR-CRR, has increased by 50 billion in a The total profit of the entire year was $46.5 million.

SAS SAS was 34 The total income of the union was 42.6 million. This is more than the previous 39.6 million. Due to the lack of sales and the lack of production and the lack of time for specific first places, the total income of the union was increased by about 15 billion. This is more than our expectations. As we have specified in the past year, 23.3 million was spent on the compensation expenses. As far as I know, the total expenses of the second quarter were 3.1 million per year. We cannot predict when it will happen. The amount of money collected was 9.8 million. This is the amount of income that was generated in this year. The contribution of 3.5 million was reimbursed by the return of the shares.

Our property rights have a balance of 245 million. In the second quarter, we had 1.3 billion R&D and the first place. Before moving to the next step, I would like to talk about Flex. Because it is important for our future and it will bring some changes in our fiscal decisions. In our decisions, the first quarter of Flex will be the first year. When we agreed on our own income, its impact was very low. In the first 6 weeks of the market, more than 130 traders have confirmed a surplus of more than 20 million for flex. This will be a fast and powerful process for us to buy from. In the base, Flex is a company that uses the products of premium and ultimate prices, with the help of kit-lap, keredit and other used products, without making a contract or starting a business every time, it will become a profitable company that can be used for a year or several years.

We believe this is a good thing for the customers. We believe that in the future, this will become a good thing for us to use for the conversion of kit-lap. In this way, our products will not only be a source of income for our customers, but also a source of value for them from all over the world. We will increase our confidence in Flex and development and innovation by giving a strong feedback from our customers. In this way, when our customers become the first to do the transformation with us, Flex will have a little bit of power in our decisions. In that note, according to the impact that our traders accept PLUGS as high, the first-time traders should clearly understand the two main impacts.

1. Profit acceptance and RPO First, Profit acceptance. Today, in the traditional currency exchange, about 15 billion rupees are accepted as a pre-increase. The FLEX is no longer accepted as a property under the FLEX Act. The income is accepted under the FLEX Act because the tenants can change the preparation schedule between their own land and land. To help you calculate this, we estimate that the new FLEX will be changed to the FLEX of 5 million in FY27. The amount of waste to be renewed in the year's distribution and the amount of impact that will be had on our income in FY27 based on our view in H2Bipeline will be about 13 million. To be clear, this is only a change in the time period in which the income is approved.

This is not a change in the standard of the income, and this is not a change in the financial structure. The The time of the future of the business owner is the time of preparation, and the speed is controlled. Anyway, how much will it last for the next 12 months, we cannot say with confidence. When the flex is extended, you can see the entire RPO and revenue growth at a high speed. You should expect that. In this period, CRPO, that matrix, when it was associated with RPO because there were no plus certificates, it was 3 times better. In each year, when PILX, FLEX, and PAYANPAADU increase, we clearly indicate its strength. Through this, you can understand the price of PILX from the base of the stock market.

Now let's look at the future outlook. After our performance in the first half of the year, our confidence in the base of this stock increased. When we think about the second half of the year, there are some things to be aware of.

First, we are optimistic about the future of the public sector by considering the high-level growth trends we have seen in this year. Moreover, we expect that the growth will continue steadily in the rest of the year.

Second, we have been using the 2nd quarter as a starting point. This is because of the greater agreements, high-level directives and our ability to change our products than previously predicted. We expect that the extraordinary numbers of the 2nd quarter will increase again in the The third is that, according to the TIO-DUO agent leadership, our future will be a big investment leader, and we believe that its share will be reduced in the year 2027. This year, our focus is to create a foundation for the future of the previous plans as full operations and future financial markets. In addition, we have been working to develop the potential of the PILX in our future, and We have not yet achieved the potential of PILX in our portfolio, but we plan to increase the return on investment in the remaining period of the year.

I would like to express my happiness that we are improving our portfolio in the expected speed of the year, which is expected to continue in the first half of the year and in the second half of the year. The total revenue for the year 2027 and the third quarter is 281 million to 283 million. This represents the growth of 15 to 16 acres per year. There will be 172 million of the total revenue of the year. The revenue of the year will be 35 to 37 million in GAP. The revenue of the year will be 19 to 20 cents in GAP. We expect a total income of 1.129 billion to 1.133 billion by the end of the year.

This is about 18 to 19 billion per year. There will be about 172 million permanent shares. We expect a total income of 148 to 152 million to 1.85 to 1.87 cent. our income value, and take a look at our budget. We don't actually plan to generate growth, earnings or benefits in our initial trend or in any further growth or improvement, I just want to tell you what are the additional metrics I'm planning to use for for improvements. the overall revenues during this year will be about 85 bn to 87 bn. So the total net revenue in this year will be roughly 6 thousand five hundred thousand We hope that this will be a positive change for the future of the industry.

We believe that the Pilex will be a good product for our customers and the KITLAIB company. This change will make some changes in the coming time and the specified limits. We hope that you will be able to take the necessary steps to make the right decisions We hope that this will help us to achieve our goals, to grow our city faster, to have more business opportunities, and to have a better future. This is a very important step in our future. Thank you for joining us today. I am ready to answer any questions. If you have any questions, please contact us via the number given in the video. Thank you.

Hey, thank you Kingsley. This year's activities have proved the potential that we always believed through kit-leap. Now we are paying attention to the planning and operation of the activities. As far as the preparation schedule is concerned, the needs of the EA are creating a successful situation and some wonderful opportunities for kit-leap. As you mentioned, there is one more head-on kit preparation in it, but I will explain it in detail. Because we introduced the first platform to your agent platform when we started this year.

It is now being used as a two-year-old and is working well. In August last month, we released the second and third season of this year's secrets manager and dedicated runners. We have released the data. Now we have Kitleip Orbit. This came to the public PITA office in the second quarter. This is our intelligence document, knowledge graph, indicators, obstacles, MR, misses, by-blindness, and security findings. This is the secret of Kitleip. So, agents and people are increasing the cost of small answers and high-end decisions. We have surrounded this office with a lot of confidence in the initial PITA process. The company has been operating for more than 2200 companies. It comes from a branch of Kilewood Coat and Codex, with a yield of 70 feet in just four weeks.

It increases the use of the KIT-Lave head. The next head-up is to be prepared. As KIT founders, we are one of the leading distributors of that plan. More than 100 times more than what humans need, it is possible to produce more than 100 times the amount of kit. This is very important because agents are in a state of emergency. A designer or a producer uses hundreds of agents to do a particular job in a short time and sometimes for a few hours. The next generation of kit, I would like to advance, another production room will be built our art and technology production will be done This is now in a separate pit But in this year we expect it to be a public pit This allows our workers farmers and industrial workers to produce produce manufacture and hand Through this, we can make the industrial sector of men's products whole.

We already have their capital. We already create and test that capital. We also help them by providing it. Through the development of the industrial products, we will also help to produce those industrial products. We will help them. Through this, they can get the best quality of the raw material in the kit labor. In this age of agents doing more jobs, who will believe in the raw material industry is one of the major concerns of today's companies. In the next chapter, we will bring you the latest developments in the field of Kit, KitLife Orbit and Artificial Intelligence. We have been having doubts about this for many years. We have brought you the tools to help the industrialists and their agents operate at a very high level.

This is a very busy time. Our KitLife Transcented program, which will be coming in about six weeks, may be a good time to talk about it. We hope you will be connected to the future news about the future school.

Thank you for your forgiveness.

Yes, hello mate. Hello friends, greetings to you. It is a great pleasure to see you. I would like to ask Bill or Jessica, there are many things to think about here. It is a great pleasure to see the development of the community. Moreover, when we think about the trust around PILX, it seems that there is a more long-term value here. I am thinking about the presence. Obviously, the developers are concerned, but can you talk about the opportunity other than the developer? That is, we all think that it will be an important reason, but can you talk a little about it? Certainly, for the Ketlove company, EI is proven to be a true and long-term growth tool.

This affects not only seats but also every aspect of our development. I think this is the right time for a small announcement. This year, Jessica and I together have announced a new first-tier policy, which highlights our view on GitLab and future development. I will give you a brief explanation, and you will get an answer to your questions about the opportunities for seats. Anyway, this development has included three important points. First of all, there are more investors. Among those more investors, there are more creators than before. We believe that there is a great chance for GitLab to be in this. We have not yet fully established ourselves in the global market. As the end of this year shows, we are creating a strong competitive situation.

In this year, we will add 1st orders to more than 1700 new first orders. This is more than twice the previous year. Moreover, the annual recurring revenue of the first quarter increased by about 40%. The important thing that these new investors have forgotten in their mind is the need to increase the seats. AI is a technology that makes anyone a creator. Many of those in this organization have tested AI tools, and I think they would have created dashboards or networks with the help of the agent's signature. Okay, that point should be saved somewhere, right? If it is a company, it should be established as a company. It should fulfill the unity and security of that company, that's where the Kettlap falls short.

Anyway, it is a tool to create more entrepreneurs and creators than each of our entrepreneurs. Secondly, a part of our development is more preparation. When answering Kingsley's question, you would have heard me talk about some of the upcoming progressive preparation plans. But this is an important part of our development, because we are just passing through the base lines of the land and expanding, this is growing by 1 billion dollars and is moving even further. This growth algorithm is working properly, as proven by the results of this year. For example, we have shared that secure repositories are 60% secure, code pushes are 50% code pushes, and pipelines are growing at 40% per year. This is how our first level works.

Beyond the basic level, our credit and credit card knowledge is very advanced. In this year, we would like to show that we will find a 50% increase in our 12-agent platform development in the next year. In addition, the third part of our development plan is to make use of each investor. Here, flex is important because it promotes the use of seats and credits as a barrier to both the same firm and the same credit. This allows investors to decide how to use the platform to solve their specific problems every month. In the last six weeks of the second quarter, 130 and more investors chose Plex as their first choice. They are the first to reach $20 million.

Thanks to Flex, our CRR has risen from $15 million to $40 million in the first quarter of the first quarter. Anyway, when we look at it in a nutshell, AI is the only way to reduce the barriers to producing women's products. Anyone can become a woman's product producer. The demand for kitlab and gitlab is higher than that of the women's market. We have been seeing this change for many years. Thank you for your question.

Greetings, Mike. Greetings to the new year. It is a great pleasure to see this. When I think about how it is being created like a plan and like a price decision, I see that you are working on many things. When you look at it in a large scale, when you agree to the bill, ultimate and premium, is it still a relevant contract?

That is, the development that you have to do. The development of the development sector is a long-term goal for this. I firmly believe that these are the only ways to reduce the number of these projects and then create the means of money making through this preparation art. I firmly believe that there will be many changes in the coming years. I would like to understand in depth how the future will be like a project and how it will be like a development. Thank you, Sit Jai. If the stocks are an important part of our economy, we are determined to continue to grow in the premium and ultimate levels of the billion dollar economy that will grow it safely.

But if we look at the question further, I think it is necessary to understand the benefits of the investors and the investors of the market by understanding the growth of our economy. Anyway, I will explain the concept of KITLAP because it is important to understand our future plan. We announced PLUX in the second quarter. In the beginning, I have already mentioned that there are 130 investors and more than $20 million in the first place. You may ask why we are announcing this. What is the benefit of investors using it so much? Its benefits are very clear. For the traders, Pilex, Flex, and other traders, they get more value because they get the opportunity to change the services that are not used to them for the preparations that create more value.

For example, when the traders who are not familiar with the trade need to buy GitLab, GitLab, they can change their use for premium or ultimate places. The second is that they can do it without going to a new contract, without going to a new This is a way for them to use new projects even without a budget. Since new projects are being launched within the PILX portal, this is one of the important benefits of PILX. They can make investments against it, and they can also decide on a budget to cover their expenses. On the other hand, this allows the investors to prohibit the use of their contracts. to prevent the use of the product. If the demand increases, they can reduce their This allows us to bring in the Pilex agreement.

Moreover, as Jessica mentioned, it allows us to change the and the production of each and every sales representative has increased by 10%. Now, representatives can spend more time on the value of the customers. It takes less time for agreements and contractual procedures. When customers need it, it is possible to get the use of it, and it is possible to get the cost immediately for that use, but this leads to another income growth.

We are very clear about the nature of the project. We want the residents to change to Pilex because it will increase their value, reduce sales and other costs, and allow them to use it to their advantage. We were a 100-acre property when we started this year. Now, we are paying attention to the continuous growth of the capital in the heart of the year. At the same time, by making money from the work done by people and agents, we would like to move towards the second billion in the heart of the year with a significant increase in the amount of interest.

Companies have started thinking seriously about the tools that are suitable for their developers. Yes, a great question. As we have mentioned, this is a success story in the history of the company. The company has grown 40 acres per year. If I have to explain this to you, this is the second most developed quarter in the last four years. I think that the success of many of the first years we have done for many quarters is due to this. Jessica pointed out that the public sector, PubSec, is back to its original state. With the government's delay and delay, it is a strong indication that the results are less than expected in the last few years. AI technology development also helps to create large agreements.

Our agreements exceeding 500,000 dollars have grown by 150 billion per year. Our biggest investors, Kitlab, Gitlab, are immediately building their own companies. The results of this analysis show that AI is a long-term support for GitLab. This affects three aspects of our development cycle. It helps to attract more users. As we have advanced through GitLab Orbit, it helps to take new developments forward and to gain more users. As the bank has been re-established, it is more useful to take forward new developments. You should consider it as a state without the development system. Because it combines the three elements and calculates them together.

Thank you, Koji. I would like to share some of the comments about who we believe in this trend. First, I remind you that FLEX has been in the market for only 10 weeks. As this is very new, we cannot believe it is a trend. At the same time, we are happy to see the need of the workers and the flexibility of the year's distribution. When we think about our guidance we have decided not to change the view of the first generation of people with real health problems in the financial sector We have decided to include two important factors that are the policy of our financial sector and the policy of the financial sector.

First, we have decided to have the same policy throughout the year according to the policy of the financial sector. We have started the FY27 policy without adding the flex and financial time power. We will continue to do so without changing it in the middle of the year. Secondly, we are developing some important principles to help you understand the concept of transparency.

First, the calculation that I mentioned in my article. For every 50 million self-employed people who change to flex, the approval time of about $ 5 million is changed from FY27 to the future. Fy27 from the future. Along with that, Fy27 will have a 13 million dollar impact. So, in the coming years, we will be able to express the FLEX financial impact in every year. This will allow you to separate the financial costs from the financial activity. We are confident. What I would like to emphasize about that 13 million dollar is that we have a clear view of our financial situation. We are very proud to be counting that amount because we know the investors who are innovating in the year.

Moreover, we have a clear view of our opportunities. To your question about which limit Koji should look at, the limit that was introduced in the past year and the limit that was introduced in this year with a pay-to-see ratio of more than 40 million will be a good way to understand who will operate the income. Paid CRR is the use of flex, credit and demand-based bonds. So, the bond is also in that range. This does not count as a commercial use, test or non-commercial use. As mentioned in our article, a bold decision to pay more than 100 million per annum will be made.

Excellent. Thank you. Yes, now again we are very excited about this. This has been in the market for about 10 weeks. Anyway, this is a very beginning for us to say, but I think I have fully understood this idea. Will, do you want to add anything to that? Yes, it is a chance to do many things in the sales agenda.

First, some tenants are already using the previous one and are already asking for our PITA provisions. PILX is not only a way to renew their existing property, but also a way to convert that confirmation into a PILX agreement. Once their provisions come to normal use, they can start using them to create a space. Wherever we want, tenants can create a space in their confirmation. We definitely want to use it. This helps to keep the workers of the unused land safe, because they had to be sure of their full year's We are very happy to use it with our customers for the value of the product.

Yes, a good question. In this century, competition has been very important. We do not have only one important competitor. I think that when we agree with that competitor, our status is stronger than ever. They are struggling to meet the needs of the new agents in this age of new agents with the support and confidence they have. So we show more victories.

We are seeing success in both the first and the second stage of development. This is a great blessing for us. 100 acres of growth in the first stage and 40 acres of growth in the second stage of development. AI AI, in terms of native language, it is a real opportunity. They are creating a simple situation for us. They have written the decision to create a seed, and then GitLab is required for all those seeds. As I mentioned, platform support is required for people who are not familiar with the platform, so we are now looking for more people to come to us.

When the same passengers need places, credits used to use our unauthorized preparations are also required. Anyway, we are happy to meet with any of the agent coding experts in the market, because we believe that this will be easy for our organization.

As far as the financial situation is concerned, this is a very early stage to talk about this, but let's talk a little more about the interest we have seen so far. Yes, in the second quarter, we had only six weeks. So, 130 tenants and $20 million is already a lot, but I think it is important to understand the return. Because even if tenants change to flex, even if they use the space for investment, it changes the nature of the relationship. The demand for the men's clothing stores is increasing every week, month and year, making it an important part of the economy. New products, new products and new products are coming to the market. Moreover, the customers are willing to accept the cost when their needs change.

If the local companies that are not in the right position had fulfilled their needs, flex would not have been needed. There would have been no need for it. We would not have seen the extraordinary progress and progress we had already seen. Clearly, the investors are seeing the benefits of this. They can start to settle their Pilex agreement with their previously established company. But when our new preparations come to market, they realize the importance of the necessary financial value to change it and improve it. The new I think that they are very happy with the results.

Yes, no, thank you for the question. As far as the total profit of the past year is concerned, I think there is no major change from our previous statement. Our SaaS dedicated share is about 34 BTC. This is growing 36 BTC per year. This is in the IPO-IPO period, we agree with the stated news. At that time we were in 22 BTC. Anyway, we expect that the profit will decrease in the future. When we move forward, I will repeat that this is the year when it has been the first and most active. We have been planning for a lot of preparations and are now recruiting the first and most active people to prepare the pilot plans.

That's what you're looking at. I don't know if you have anything to add to this. Yes, as you said, in KitLab, GitLab, and other AI-native projects, there are potential features in tokens and AI members. I'll talk a little about this, because I think we're in the very beginning. We have many benefits to us than the normal EI currencies that make tokens the basis. One of the advantages of the TO agent is that we grow it in a model-based way, i. e. we support many models to produce open source and open weight models. We allow the traders to use it in any keyword field. For example, they can use it in the current market conditions. This product is not included in the token or transfer cost inference cost GitLab agreement for many of our traders.

They are paying for the trade we do for the work done in order to use the field, for the construction, for the administration and for the individual facilities, not for the transfer cost. These are the most profitable and effective strategies.

We are at the very beginning stage of AI use. Through our travel plans, we are paying attention to the dynamic model routing and model optimization that is very difficult to make decisions on a daily basis. We would like to increase the experience and value of the employees. I would like to understand that you should think differently about the profits from traditional AI companies. Jessica mentioned that many of the changes we saw in the state are due to the change in the law from the early days of EI.

Yes. This is America's predecessor, they started a small deal with their TO agent in the beginning. They started using this with their clients, and this has gained a lot of respect, and they realized the need to increase their first share tenfold in this period. We would like to take this to each agent. We believe that the value of the TO agent's position will be a support for the next generation of members who will pay attention to the members. Anyway, yes, we are very excited about that first agent. Now many investors are spending multiple credits than their premium or ultimate building. This will be a time when we learn, improve and try to do it again in all places.