One third wiped off value of GitLab shares, Wall Street didn't like weaker outlook
In the wake of Silicon Valley Bank's collapse, this week is not the best time to spook jittery stock markets with weaker than expected financial forecasts, yet that's what GitLab has done.Q4 of its fiscal 2023 ended 31 January
This, however, was a slowdown on prior quarters. Revenue growth in Q3 was 69 percent, 74 percent in Q2, and 75 percent in Q1. On an earnings call with analysts, CFO Brian Robbins noted a marked change in the tone of the tech industry in terms of"greater deal scrutiny on some deals, lower expansion rates than historical trends, and a slight uptick in contraction."
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