GitLab Inc.’s GTLB stock dropped 8% in after-hours trading Monday after the company posted quarterly results that topped analysts’ estimates but issued weak guidance.
Financial Highlights
- Net Loss: GitLab reported a fiscal fourth-quarter net loss of $37.6 million, or 23 cents a share, compared with a net loss of $42.1 million, or 26 cents a share, in the same quarter a year ago.
- Adjusted Earnings: Adjusted earnings were 15 cents a share.
- Revenue Growth: Revenue climbed 33% to $163.8 million from $122.9 million in the year-ago quarter.
Analyst Expectations
Analysts surveyed by FactSet had expected on average net income of 8 cents a share on revenue of $157.9 million. GitLab projected full-year adjusted earnings of 19 cents a share to 23 cents a share, while FactSet analysts are forecasting 35 cents a share.
Market Performance
Shares of GitLab have soared 45% this year, while the broader S&P 500 index SPX, -0.12% has increased 27%.
It will be interesting to see how GitLab navigates through the challenges highlighted in its guidance and continues to grow in the competitive market landscape.
