HashiCorp, Inc. (HCP) provides multi-cloud infrastructure automation solutions worldwide. The company made its stock market debut on December 9, 2021, going public via the traditional initial public offering method and raising $1.22 billion in gross proceeds. It added 323 new customers during the fourth quarter, including 60 customers with equal to or greater than $100K in ARR, now totaling 655, up 31% year-over-year.
The company also expects total revenues and non-GAAP loss per share for the first quarter of 2022 to be between $92 - $96 million and $0.30 - $0.28, respectively. The stock has lost 51.7% over the past month and 63.1% year-to-date to close Friday’s trading session at $33.56. In addition, it is currently trading 67.4% below its all-time high of $102.95, which it hit on December 27, 2021. So, HCP’s near-term prospects look bleak.
