04:25 PM EST, 12/05/2024 (MT Newswires) -- Gitlab ( GTLB ) reported fiscal Q3 non-GAAP net income late Thursday of $0.23 per diluted share, up from $0.09 a year earlier.

Analysts surveyed by FactSet expected $0.16.

Revenue for the quarter ended Oct. 31 was $196 million, up from $149.7 million a year earlier. Analysts polled by FactSet expected $187.9 million.

The company said it expects fiscal Q4 non-GAAP EPS of $0.22 to $0.23 on revenue of $205 million to $206 million. Analysts expect EPS of $0.14 on revenue of $204.4 million.

GitLab ( GTLB ) now expects fiscal 2025 non-GAAP EPS of $0.63 to $0.64 on revenue of $753 million to $754 million. It previously projected EPS of $0.45 to $0.47 on revenue of $742 million to $744 million. Analysts expected EPS of $0.47 on revenue of $744.1 million.

Separately, the company said it appointed Bill Staples as chief executive, effective immediately.

Staples will succeed co-founder and CEO Sid Sijbrandij, who will become executive chair of the board.

Shares of the company were up nearly 8% in after-hours activity.