GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth

45
2
Favorite

GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth

Bloomberg2023-03-14

(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm ...

Source Link

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment（2）

AlanChong
·2023-03-14
Ok
Reply
4
Report
MLFL
·2023-03-14
👋
Reply
5
Report

Most Discussed

7x24

All

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"data":{"share":"https://ttm.financial/m/news/2319014181?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2023-03-14 07:17","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2319014181","market":"us","top_or_hot":-1,"title":"GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth","media":"Bloomberg","content":"<div>\n<p>(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown\">Source Link</a>\n\n</div>\n","source":"lsy1584095487587","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-14 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"GTLB","symbol_name":"GitLab, Inc.","start_time":0,"source_url":"https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown","article_id":"2319014181","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2319014181","pubTimestamp":1678749458,"sourceInfo":{"source_id":"lsy1584095487587","name":"Bloomberg"},"weMediaInfo":null,"summary":"(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-","collect":0,"end_time":0,"defaultTopTitle":"bloomberg.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"GTLB":"GitLab, Inc."},"translate_title":"GitLab股价下跌32%，不温不火的指导信号显示增长放缓","themeId":"","isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"GTLB":1},"content_text":"(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm dropped as much as 32% in afterhours trading Monday after it said it expected quarterly revenue guidance in the $117 million to $118 million range, while the average analyst estimate was $126.7 million. Its full year forecast was for $529 million to $533 million, coming in well below the $587.3 million estimate.“The guidance suggests a meaningful slowdown in growth, even with the steep price hikes on midtier plans,” said Bloomberg Intelligence analyst Sunil Rajgopal. “We see continued risk to free-cash-flow turnaround targets.”Earlier this month, GitLab said it was increasing the list price of GitLab Premium from $19 to $29 per user per month, effective April 3 — its first price increase in more than five years.The price hike was included in its forecasts, and the company reassessed its near-term revenue growth outlook assuming trends it saw in the fourth quarter will continue, Chief Financial Officer Brian Robins said during the earnings conference call. Hiring freezes and workforce reductions impacted GitLab’s expansion, particularly in its premium tier, and the company also saw greater deal scrutiny at the end of the calendar year, with more people involved in the approval cycle, leading to longer sales cycles.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9949516261,"gmtCreate":1678750582753,"gmtModify":1678750586505,"author":{"id":"4125148185432112","authorId":"4125148185432112","name":"AlanChong","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"hat":"https://static.tigerbbs.com/a3dee1aa3a3a3c1814833a4d3f8a5669","crmLevel":4,"crmLevelSwitch":0,"idStr":"4125148185432112","authorIdStr":"4125148185432112"},"htmlText":"Ok","listText":"Ok","text":"Ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949516261","repostId":2319014181,"repostType":4,"repost":{"id":"2319014181","pubTimestamp":1678749458,"share":"https://ttm.financial/m/news/2319014181?lang=&edition=fundamental","pubTime":"2023-03-14 07:17","market":"us","language":"en","title":"GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=2319014181","media":"Bloomberg","summary":"(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-","content":"<html><head></head><body><p>(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.</p><p><img src=\"https://static.tigerbbs.com/33ed9079111979825f6a46724be6b9a8\" tg-width=\"839\" tg-height=\"636\" width=\"100%\" height=\"auto\"/></p><p>Shares of the San Francisco-based tech firm dropped as much as 32% in afterhours trading Monday after it said it expected quarterly revenue guidance in the $117 million to $118 million range, while the average analyst estimate was $126.7 million. Its full year forecast was for $529 million to $533 million, coming in well below the $587.3 million estimate.</p><p>“The guidance suggests a meaningful slowdown in growth, even with the steep price hikes on midtier plans,” said Bloomberg Intelligence analyst Sunil Rajgopal. “We see continued risk to free-cash-flow turnaround targets.”</p><p>Earlier this month, GitLab said it was increasing the list price of GitLab Premium from $19 to $29 per user per month, effective April 3 — its first price increase in more than five years.</p><p>The price hike was included in its forecasts, and the company reassessed its near-term revenue growth outlook assuming trends it saw in the fourth quarter will continue, Chief Financial Officer Brian Robins said during the earnings conference call. Hiring freezes and workforce reductions impacted GitLab’s expansion, particularly in its premium tier, and the company also saw greater deal scrutiny at the end of the calendar year, with more people involved in the approval cycle, leading to longer sales cycles.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-14 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GTLB":"GitLab, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2319014181","content_text":"(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm dropped as much as 32% in afterhours trading Monday after it said it expected quarterly revenue guidance in the $117 million to $118 million range, while the average analyst estimate was $126.7 million. Its full year forecast was for $529 million to $533 million, coming in well below the $587.3 million estimate.“The guidance suggests a meaningful slowdown in growth, even with the steep price hikes on midtier plans,” said Bloomberg Intelligence analyst Sunil Rajgopal. “We see continued risk to free-cash-flow turnaround targets.”Earlier this month, GitLab said it was increasing the list price of GitLab Premium from $19 to $29 per user per month, effective April 3 — its first price increase in more than five years.The price hike was included in its forecasts, and the company reassessed its near-term revenue growth outlook assuming trends it saw in the fourth quarter will continue, Chief Financial Officer Brian Robins said during the earnings conference call. Hiring freezes and workforce reductions impacted GitLab’s expansion, particularly in its premium tier, and the company also saw greater deal scrutiny at the end of the calendar year, with more people involved in the approval cycle, leading to longer sales cycles.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9949518276,"gmtCreate":1678750351496,"gmtModify":1678750355400,"author":{"id":"4115684828159522","authorId":"4115684828159522","name":"MLFL","avatar":"https://community-static.tradeup.com/news/1d7ab965a9728265436a2d2a8db471ce","vip":1,"crmLevel":1,"crmLevelSwitch":0,"idStr":"4115684828159522","authorIdStr":"4115684828159522"},"htmlText":"👋&nbsp;","listText":"👋&nbsp;","text":"👋","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":5,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9949518276","repostId":2319014181,"repostType":2,"repost":{"id":"2319014181","pubTimestamp":1678749458,"share":"https://ttm.financial/m/news/2319014181?lang=&edition=fundamental","pubTime":"2023-03-14 07:17","market":"us","language":"en","title":"GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth","url":"https://stock-news.laohu8.com/highlight/detail?id=2319014181","media":"Bloomberg","summary":"(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-","content":"<html><head></head><body><p>(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.</p><p><img src=\"https://static.tigerbbs.com/33ed9079111979825f6a46724be6b9a8\" tg-width=\"839\" tg-height=\"636\" width=\"100%\" height=\"auto\"/></p><p>Shares of the San Francisco-based tech firm dropped as much as 32% in afterhours trading Monday after it said it expected quarterly revenue guidance in the $117 million to $118 million range, while the average analyst estimate was $126.7 million. Its full year forecast was for $529 million to $533 million, coming in well below the $587.3 million estimate.</p><p>“The guidance suggests a meaningful slowdown in growth, even with the steep price hikes on midtier plans,” said Bloomberg Intelligence analyst Sunil Rajgopal. “We see continued risk to free-cash-flow turnaround targets.”</p><p>Earlier this month, GitLab said it was increasing the list price of GitLab Premium from $19 to $29 per user per month, effective April 3 — its first price increase in more than five years.</p><p>The price hike was included in its forecasts, and the company reassessed its near-term revenue growth outlook assuming trends it saw in the fourth quarter will continue, Chief Financial Officer Brian Robins said during the earnings conference call. Hiring freezes and workforce reductions impacted GitLab’s expansion, particularly in its premium tier, and the company also saw greater deal scrutiny at the end of the calendar year, with more people involved in the approval cycle, leading to longer sales cycles.</p></body></html>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>GitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nGitLab’s Shares Tumble 32% as Tepid Guidance Signals Slowing Growth\n</h2>\n\n<h4 class=\"meta\">\n\n\n2023-03-14 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"GTLB":"GitLab, Inc."},"source_url":"https://www.bloomberg.com/news/articles/2023-03-13/gitlab-s-shares-tumble-as-tepid-guidance-signals-growth-slowdown","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2319014181","content_text":"(Bloomberg) -- GitLab Inc. sank after the software company reported revenue forecasts for the first-quarter and full year that fell short of expectations.Shares of the San Francisco-based tech firm dropped as much as 32% in afterhours trading Monday after it said it expected quarterly revenue guidance in the $117 million to $118 million range, while the average analyst estimate was $126.7 million. Its full year forecast was for $529 million to $533 million, coming in well below the $587.3 million estimate.“The guidance suggests a meaningful slowdown in growth, even with the steep price hikes on midtier plans,” said Bloomberg Intelligence analyst Sunil Rajgopal. “We see continued risk to free-cash-flow turnaround targets.”Earlier this month, GitLab said it was increasing the list price of GitLab Premium from $19 to $29 per user per month, effective April 3 — its first price increase in more than five years.The price hike was included in its forecasts, and the company reassessed its near-term revenue growth outlook assuming trends it saw in the fourth quarter will continue, Chief Financial Officer Brian Robins said during the earnings conference call. Hiring freezes and workforce reductions impacted GitLab’s expansion, particularly in its premium tier, and the company also saw greater deal scrutiny at the end of the calendar year, with more people involved in the approval cycle, leading to longer sales cycles.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"hasMoreComments":true,"newsSizeData":{"likeSize":45,"commentSize":2,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false}}