GitLab slumped in afterhours trading Wednesday after the coding company reported soft guidance and said that Brian Robins would be stepping down as chief financial officer from Sep. 19.
James Shen, Vice President of Finance, is expected to be named interim CFO.
Gitlab Inc (NASDAQ:GTLB) was down more than 8% in recent afterhours trading Wednesday following the report.
For the quarter ended Jul. 31, the company reported Q2 adjusted EPS of $0.24 on revenue of $236.0 million, compared with consensus estimates for EPS of $0.16 on revenue of $227.2M.
For Q3, the company expects adjusted diluted earnings per share in the range of $0.19 to $0.20 on revenue of $238M to $239M. That compared with analysts estimates for earnings of $0.19 a share on revenue of $241.5M.
For the full-year, the company said it now expects adjusted EPS in a range of $0.82 to $0.83, up from a prior estimate of $0.74 to $0.75, topping estimates for $0.75. While net revenue was guided between $936M and $942M, compared with estimates of $942.9M.
Source :
https://www.investing.com/news/earnings/gitlab-slumps-on-soft-guidance-mixed-q2-results-cfo-to-step-down-4222763
