By Sam Boughedda
HashiCorp Inc (NASDAQ:HCP) shares jumped in extended trading Wednesday after the company reported third-quarter earnings, which came in above consensus expectations.
The software firm posted a loss per share of $0.13, $0.19 better than the analyst estimate of a $0.32 loss per share. Revenue for the quarter came in at $125.3 million versus the consensus estimate of $111.09M.
Revenue rose 52% from $82.2M in the same period last year.
HCP shares are currently trading 12% higher after hours, adding to the almost 5% gain in the regular session.
“I am pleased with our solid overall performance in Q3. Existing customers are seeing immense value and continue to expand and extend their relationships with us at a healthy rate, as shown by our high net retention rate of 134%,” said Navam Welihinda, CFO, HashiCorp.
“We have concluded our accelerated investment cycle that has been underway for several quarters, and reaffirm our commitment to our goals for operating leverage in fiscal 2024."
The company sees fiscal fourth-quarter revenue between $123 and $125M, with an adjusted loss per share of $0.23 to $0.21 for the period. For the full fiscal year 2023, the HCP expects revenue of $463M to $465M and an adjusted loss per share between $0.71 and $0.69.