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GitLab shares gained over 20% in morning trading.The company reported a fourth-quarter loss of $45.8 million, or 32 cents a share, compared with a loss of $120 million, or $2.31 a share, in the year-ago period. The adjusted loss, which excludes stock-based compensation expenses and other items, was 16 cents a share, compared with 46 cents a share in the year-ago period.

Revenue rose to $77.8 million from $46.1 million in the year-ago quarter.

Analysts surveyed by FactSet had forecast a loss of 25 cents a share on revenue of $70.3 million.

GitLab forecast an adjusted loss of 28 cents to 27 cents a share on revenue of $77 million to $78 million for the first quarter, and an adjusted loss of $1.02 to 97 cents a share on revenue of $385.5 million to $390.5 million for the year.

Analysts had estimated a loss of 30 cents a share on revenue of $72.8 million for the first quarter, and a loss of $1.04 a share on revenue of $336.6 million for the year.