Overview

• GitLab delivered first-quarter adjusted earnings of $0.17 per share and $214.51 million in revenue, surpassing analyst forecasts and marking 27% year-over-year growth.
• The company projected second-quarter revenue of $226 million to $227 million and EPS of $0.16 to $0.17, with the revenue midpoint falling short of the $227.16 million consensus.
• GitLab raised its fiscal-year sales outlook to $936 million–$942 million and adjusted EPS guidance to $0.74–$0.75, above previous estimates.
• Shares fell 9.43% to $43.94 on June 11 following the earnings report and updated outlook.
• Analysts at Needham, BTIG, Wells Fargo, UBS and JP Morgan trimmed price targets into a $52–$73 range after the guidance miss.