GitLab Stock Surges 15 percent After Q3 Beat & Strong Guidance

GitLab (NASDAQ:GTLB) saw its shares climb over 15% intra-day today following its impressive third-quarter results. The company reported an earnings per share (EPS) of $0.09, surpassing the Street estimate of a loss of $0.01. Additionally, GitLab’s revenue reached $149.7 million, exceeding the expected $141.53 million.
CFO Brian Robins commented on the results, highlighting a 32% year-over-year revenue increase, attributing this growth to the company’s leading platform approach and responsible expansion strategies. This growth was accompanied by a significant improvement in non-GAAP operating margin, which increased by over 2,200 basis points.
Looking ahead to the fourth quarter of 2024, GitLab forecasts an EPS in the range of $0.08 to $0.09, which is notably higher than the Street estimate of a loss of $0.01. The company also expects its revenue for the quarter to be between $157 million and $158 million, again surpassing the anticipated $150.24 million.
For the full fiscal year, the company anticipates an EPS between $0.12 and $0.13, in contrast to the consensus forecast of a loss of $0.06. Furthermore, the expected full-year revenue is projected to be between $573 million and $574 million, exceeding the Street estimate of $558.14 million.

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