HashiCorp stock falls 2% despite Q2 beat

HashiCorp (NASDAQ:) shares fell more than 2% after-hours following the company’s Q2 results, with EPS of ($0.10) coming in better than the consensus estimate of ($0.15). Revenue was $143.2 million, beating the consensus estimate of $138.22M.

“I’m pleased with our results in Q2 of FY24, with solid execution that led to 26% year-over-year revenue growth. Our team is continuing to win in the market despite a challenging purchasing environment, and our product innovation is positioning us well for the long-term opportunity before us,” said CEO Dave McJannet.

For Q3/24, the company expects EPS of ($0.05)-($0.03), compared to the consensus of ($0.04), and revenue of $142-$144M, compared to the consensus of $141.74M.

For the full year, the company anticipates EPS in the range of ($0.23)-($0.21), compared to the consensus of ($0.26), and revenue in the range of $571-$575M, compared to the consensus of $567.59M.