Gitlab Inc Cl A (GTLB) said after close Monday that it lost $0.06 per share in quarter one 2024. The company reported earnings on an adjusted basis, so it may not be directly comparable to analyst estimates or prior periods.
On the revenue line, the company reported $126.9 million, beating estimates by $9.1 million.
In the same quarter a year ago, the company lost $0.18 per share on revenue of $87.4 million.
The stock is up 30.06% to $46.25 after the report.
Despite revenues increasing, earnings decreased, signaling a decline in profit margins.
Wall Street Analysts had an average rating of Buy on the stock prior to the report.
Trading in the five days leading up to the report earned Gitlab Inc Cl A a Bullish Sentiment Rank from InvestorsObserver.
Prior to the report, InvestorsObserver gave the stock an overall score of 34. Meanwhile, the average Wall Street analyst rated the stock a Buy.
GitLab Inc operates on an all-remote model. The company is a technology company whose primary offering is GitLab, a complete DevOps platform delivered as a single application. GitLab is used by a wide range of organizations. The company also provides related training and professional services. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. The principal markets for GitLab are currently located in the United States, Europe, and Asia Pacific. The company is focused on accelerating innovation and broadening the distribution of its platform to companies across the world.
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Gitlab Inc Cl A Up 30.06% To $46.25 After Earnings Beat
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