Gitlab Inc (NASDAQ:GTLB) shares plunged more than 37% after-hours following the company’s announced worse-than-expected guidance, while Q4 results beat the estimates.
Q4 revenue grew 58% year-over-year to $122.9 million, compared to the consensus estimate of $119.59M. The loss per share was $0.03, compared with the consensus estimate for a loss of $0.14.
Customers with more than $5,000 of ARR increased 52% year-over-year to 7,002, while customers with more than $100,000 of ARR increased 42% to 697. Customers with more than $1M of ARR increased to 63, up 62% year-over-year.
The company expects its Q1/24 loss per share in the range of $0.15 to $0.14, compared with the consensus for a loss of $0.16 a share, and revenue in the range of $117M to $118M, compared with the consensus of $126M.
For the full year, the company expects a loss per share of $0.29 to $0.24, compared to the consensus for a loss of $0.52, and revenue of $529M to $533M, compared to the consensus of $586.1M.
By Davit Kirakosyan