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Earnings Results: GitLab stock soars more than 15% as results, outlook top Street view


GitLab Inc. shares rallied in the extended session Monday after the DevOps software company’s quarterly results and forecast surpassed Wall Street expectations.


shares rallied more than 15% after hours, following a 7.1% decline in the regular session to close at $38.33.

The company reported a third-quarter loss of $48.5 million, or 33 cents a share, compared with a loss of $41.2 million, or 62 cents a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was 10 cents a share, compared with 34 cents a share in the year-ago period.

Revenue rose to $113 million from $66.8 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 15 cents a share on revenue of $106 million.

GitLab forecast an adjusted fourth-quarter loss of 15 cents to 14 cents a share on revenue of $119 million to $120 million, and an adjusted loss of 56 cents to 55 cents a share on revenue of $420.5 million to $421.5 million for the year.

Analysts had estimated a loss of 17 cents a share on revenue of $119.3 million for the fourth quarter, and a loss of 65 cents a share on revenue of $412.8 million for the year.

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

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