05:03 PM EDT, 05/30/2024 (MT Newswires) -- HashiCorp ( HCP ) reported fiscal Q1 non-GAAP earnings Thursday of $0.05 per diluted share, compared with a loss of $0.07 a year earlier.

Analysts surveyed by Capital IQ expected a loss of $0.01.

Revenue in the quarter ended April 30 rose to $160.6 million from $138 million a year earlier.

Analysts surveyed by Capital IQ expected $153.2 million.

IBM agreed to buy HashiCorp ( HCP ) for $6.4 billion in cash, or $35 a share.

The deal is expected to close by the end of 2024, according to HashiCorp ( HCP ).