05:34 AM EST, 03/05/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

GitLab's ( GTLB ) shares sank 24% in premarket activity on Tuesday after the company's earnings guidance for fiscal Q1 and the full financial year 2025 missed the market's expectations.

Late on Monday, the company reported non-GAAP earnings of $0.15 per diluted share in fiscal Q4 versus a loss of $0.03 a year earlier.

Analysts surveyed by Capital IQ expected an adjusted EPS of $0.08.

Revenue for the quarter ended Jan. 31 was $163.8 million, up from $122.9 million a year earlier.

Analysts surveyed by Capital IQ expected $158.3 million.

The company said it expects a fiscal Q1 non-GAAP net loss of $0.05 to $0.04 per share. Analysts surveyed by Capital IQ expect earnings of $0.06. The company expects revenue for the quarter of $165 million to $166 million. Analysts expect $162.1 million.

GitLab ( GTLB ) expects fiscal year 2025 non-GAAP EPS of $0.19 to $0.23. Analysts surveyed by Capital IQ expect $0.37. The company expects revenue for the year of $725 million to $731 million. Analysts expect $737.4 million.

Price: 56.30, Change: -18.17, Percent Change: -24.40