By Davit Kirakosyan

Gitlab Inc (NASDAQ:) shares rose around 10% after-hours following the company’s reported strong Q1 results, with growth in all the customer segments despite the macro-environment.

Quarter 1 EPS was ($0.18), which is lower than the Street estimate at ($0.27). Revenue came in at $87.4 Million, as opposed to $77.8 million.

Customers with ARR greater than $5,000 saw an increase of 64% to 5,168. And customers with ARR more than $100,000 experienced an increase of 68% to 545. In Q1, the dollar-based net retention rate was higher than 130%.

According to consensus, Q2/23 earnings per share (EPS) will be in the $0.24 0.23 range, while revenue is expected to range from $93.5-94.5 millions, as opposed to $89.7 million.

The company anticipates that EPS will be in the $0.93 0.89 range for the 2023-year period, as opposed to consensus estimates of $0.97, and that revenue will range from $398-402 millions to $390 million to $390 million.