GitLab shares rose 31% on Tuesday, after the provider of code-deployment software reported a narrower loss than analysts expected and bumped up its full-year forecast.
GitLab said that revenue in the quarter ended April 30 jumped 45% to $126.9 million from $87.4 million a year earlier.
The company had an adjusted loss of 6 cents per share, according to a statement.
Analysts surveyed by Refinitiv had expected sales of $117.8 million and an adjusted loss of 14 cents per share.
During the quarter, GitLab raised the price of its premium tier to $29 per user per month from $19.
Persons:
It's, GitLab, Refinitiv, Brian Robins, Sid Sijbrandij, Sijbrandij, Robins, Piper Sandler, Rob Owens, Ethan Weeks, Jefferies, Brent Thill
Organizations:
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