HashiCorp stock plummets 22% on disappointing outlook By Investing.com

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HashiCorp stock plummets 22% on disappointing outlook

Published Jun 07, 2023 18:34

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HashiCorp stock plummets 22% on disappointing outlook

HCP

-1.12%

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HashiCorp (NASDAQ:HCP) shares plunged more than 22% after-hours following the company’s reported Q1 earnings. While EPS of ($0.07) and revenue of $138 million (up 37% year-over-year) came in above the consensus estimates of ($0.14) and $133.13M, respectively, management’s guidance missed expectations.

The company ended Q1/24 with 4,392 customers, up from 3,240 customers at the end of Q1/23. Customers with equal or greater than $100,000 in ARR was 830, up from 704 customers at the end of Q1/23, representing 89% of total revenue in Q1/24 (vs. 88% in Q1/23).

For Q2/24, the company expects EPS in the range of ($0.16)-($0.14), compared to the consensus of ($0.12), and revenue in the range of $137M-$139M, compared to the consensus of $141M.

For the full year, the company expects EPS of ($0.27)-($0.24), compared to the consensus of ($0.39), and revenue of $564M-$570M, compared to the consensus of $593M.

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