GitLab stock drops more than 30% as revenue forecast misses


GitLab Inc. shares plummeted in the extended session Monday after the DevOps software company’s revenue forecast fell short of the Wall Street consensus.

shares dropped more than 30% after hours, following a 0.6% gain in the regular session to close at $44.60.

The company forecast an adjusted first-quarter loss of 15 cents to 14 cents a share on revenue of $117 million to $118 million, and an adjusted loss of 29 cents to 24 cents a share on revenue of $529 million to $533 million for the year.

Analysts surveyed by FactSet had estimated a loss of 16 cents a share on revenue of $126.2 million for the fourth quarter, and a loss of 53 cents a share on revenue of $586.5 million for the year.

The company reported a fourth-quarter loss of $38.7 million, or 26 cents a share, compared with a loss of $45.8 million, or 32 cents a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was 3 cents a share, compared with 16 cents a share in the year-ago period.

Revenue rose to $122.9 million from $77.8 million in the year-ago quarter.

Analysts had forecast a loss of 14 cents a share on revenue of $119.6 million.

Last quarter, GitLab shares had rallied after the company’s quarterly results and forecast surpassed Wall Street expectations at the time.

GitLab went public in October 2021, with shares pricing at $77 apiece.




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