Here’s why Citi says crypto prices have been weak recently
Investing.com -- GitLab shares sank on Thursday after the coding company reported soft guidance and said that Brian Robins would be stepping down as chief financial officer from September 19.
James Shen, Vice President of Finance, is expected to be named interim CFO.
Gitlab Inc (NASDAQ:GTLB) was down more than 8% following the market open on Thursday.
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 (FY26), 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.
Net revenue was reiterated at between $936M and $942M, compared with estimates of $942.9M.
"The debate will likely fall squarely on its FY26 revenue guidance which was only reiterated. This is raising questions if it’s just being conservative, or if something more ominous is happening with demand," Bank of America analysts commented.
"We believe it’s just conservatism," they added.
The bank sees the share price weakness "as a particularly attractive opportunity."
Barclays analysts voiced similar thoughts, noting that the "CFO departure and a conservative top- line guide raise questions about 2H growth algorithm."
(Yasin Ebrahim contributed to this report.)