Shulou(Shulou.com)11/24 Report--

According to news in the morning of March 14, Beijing time, the company's share price plunged as much as 38 per cent in after-hours trading after GitLab, a provider of source code management software, gave lower-than-expected full-year earnings guidance.

The following is the company's financial performance for the last quarter:

Earnings: the company posted an adjusted loss of 3 cents per share, while analysts expected a loss of 14 cents per share, according to Refinitivd.

Revenue: $122.9 million (currently about 843 million yuan), compared with analyst expectations of $119.6 million.

Revenue rose 58% year-on-year in the quarter ended January 31, the company said in a statement.

GitLab expects an adjusted loss of 14 cents to 15 cents per share and revenue of 117 million to $118 million in the first quarter. By contrast, analysts surveyed by Refinitiv expect the company to post an adjusted loss of 16 cents per share on revenue of $126.2 million.

In fiscal year 2024, the company expects an adjusted loss per share of 24 cents to 29 cents and revenue of $529 million to $533 million. This means that there will be 25% growth in the middle of the range. Analysts surveyed by Refinitiv agreed that the adjusted loss per share was 54 cents and revenue was $586.4 million.

Gitlab said its premium services would rise from $19 a month to $29 a month in April. The company said last month that it would lay off 130 employees, or about 7% of its workforce.

Gitlab's shares made their debut on Nasdaq in 2021, with revenue growth of 69 per cent. The stock fell 48 per cent last year as investors began to move away from lossmaking technology companies.

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