diff --git a/gprofiler/__init__.py b/gprofiler/__init__.py
index 27a235aa6..d57fc92a3 100644
--- a/gprofiler/__init__.py
+++ b/gprofiler/__init__.py
@@ -13,4 +13,4 @@
 # See the License for the specific language governing permissions and
 # limitations under the License.
 #
-__version__ = "1.48.0"
+__version__ = "1.49.0"