5 Notable Quarterly Reports to Watch

4. GitLab Inc. (NASDAQ:GTLB)

Number of Hedge Fund Holders: 30

Shares of GitLab Inc. (NASDAQ:GTLB) skyrocketed nearly 28 percent on Tuesday, June 7, 2022, after posting a narrower-than-expected loss for its fiscal first quarter. The developer of software solutions reported an adjusted loss of 18 cents per share, compared to 44 cents per share in the year-ago period.

In addition, GitLab Inc. (NASDAQ:GTLB) posted revenue of $87.4 million, representing a massive surge of 75 percent on a year-over-year basis. Analysts were looking for a loss of 27 cents per share on revenue of $77.81 million.

GitLab Inc. (NASDAQ:GTLB) also issued its financial outlook for the current quarter. It anticipates an adjusted loss in the range of 24 – 23 cents per share and revenue between $93.5 – $94.5 million for its fiscal second quarter.

Praising the results, CFO Brian Robins said in a statement:

“Metrics in the first quarter were strong: 75% year-over-year revenue growth, dollar-based net retention above 130%, 92% year-over-year RPO growth, 90% non-GAAP gross margins, non-GAAP operating margin improvement of 1,700 basis points year-over-year and we saw great growth in all the customer segments despite the macro-environment.”