By Ben Glickman
Shares of GitLab fell late on Monday after the company’s guidance for the next fiscal year came in shy of analysts’ expectations.
The stock was down 20% to $59.50 in after-hours trading, following a 1.6% rise at Monday’s close. Shares are up about 18% since the start of the year.
The San Francisco-based code hosting platform said it expects to log an adjusted profit of 19 cents to 23 cents a share in fiscal 2025, below the 35 cents a share expected by analysts.
GitLab forecast revenue of $725 million to $731 million, compared with the $730.2 million forecast by analysts, according to FactSet.
The company’s loss narrowed in the fiscal fourth quarter. Stripping out certain one-time items, the company posted a profit ahead of analysts’ expectations.
Write to Ben Glickman at [email protected]
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