HashiCorp (NASDAQ: HCP) shares rose more than 8% on Thursday following the company’s reported Q2 results, with EPS of ($0.13) coming in better than the Street estimate of ($0.32). Revenue was $125.3 million, beating the Street estimate of $111.09 million, driven by multi-product adoption. Revenue from above-$100K customers accelerated to 56.1% year-over-year growth, representing 89% of revenue.
While the company is seeing increased deal scrutiny and longer sales cycles, demand remains robust, and adoption trends are stable. The company expects Q3/22 EPS to be in the range of ($0.23)-($0.21), compared to the Street estimate of ($0.30), and revenue in the range of $123-125 million, compared to the Street estimate of $119.93 million.
Full-year EPS is expected to be in the range of ($0.71)-($0.69), compared to the Street estimate of ($0.96), and revenue in the range of $463-465 million, compared to the Street estimate of $445.53 million.
HashiCorp Shares Gain 8 percent on Q2 Beat & Strong Outlook
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