GitLab Inc stock fell. rose 22% in after-hours trading on Monday after the company reported quarterly results that beat analyst estimates but issued weak guidance.
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The company reported a net loss of $37.6 million, or 23 cents per share, in the fiscal fourth quarter, compared with a net loss of $42.1 million, or 26 cents per share, in the same quarter last year. Adjusted earnings were 15 cents per share.
Revenue rose 33% to $163.8 million from $122.9 million in the same quarter last year.
Analysts surveyed by FactSet had expected net income to average 8 cents per share on revenue of $157.9 million.
GitLab expected full-year adjusted earnings of 19 cents per share to 23 cents per share, while FactSet analysts expect 35 cents per share.
In a conference call with analysts, GitLab CFO Brian Robbins laid out conservative guidance for volatility and deflation among customers.
GitLab shares are up 45% this year, while the broader S&P 500 index (SPX,
It increased by 27%.
