Stocks with the largest after-hours movements: Hims & Hers, Gitlab, Cleanspark, Webtoon Entertainment, and others.

Market Reactions and Company Updates

After the market closed, several companies experienced notable fluctuations in their stock prices:

Hims & Hers Health — The telehealth provider’s shares fell over 6%. The company projected an adjusted EBITDA for the ongoing quarter between $35 million and $55 million, which was much lower than the $70 million analysts had anticipated.

Aecom — Shares increased by 2% after the infrastructure consulting firm raised its full-year adjusted earnings forecast to $6.10 per share, surpassing its earlier guidance of $5.90. This also beat expectations of $5.85 to $6.05 per share. Additionally, Aecom reported better-than-expected adjusted earnings and sales for the second quarter, according to FactSet estimates.

Archer Aviation — The aircraft stocks climbed 2%. The company disclosed it had about $1.8 billion in liquidity at the end of the first quarter, though its revenue stood at $1.6 million, slightly short of the $1.7 million consensus from FactSet.

Webtoon Entertainment — Shares dropped 15% as the expected second-quarter revenue was projected to be between $332 million and $342 million, missing the $348 million analysts were looking for. The company’s adjusted EBITDA guidance for this quarter was between $0 and $5 million, which was also under expectations of $12.1 million. Additionally, Webtoon’s first-quarter revenue was $320.9 million, falling short of the $321.6 million consensus estimate.

Cleanspark — The stock of this Bitcoin mining and data center firm fell nearly 5%. The company’s second-quarter loss was reported at $1.52 per share, which exceeded expectations, yet analysts anticipated a loss of only 56 cents per share. Revenue also fell below target, totaling $136.4 million against forecasts of $145.4 million.

Mara Holdings — Shares dropped 5% after the company reported a first-quarter loss of $3.31 per share, more severe than the expected $1.51 loss. Revenue of $174.6 million was also less than the anticipated $181.9 million.

AST SpaceMobile — The satellite developer’s stock fell almost 9% in after-hours trading. AST maintained its full-year sales outlook of $150 million to $200 million, which aligns with the Street’s consensus of $176.9 million, as reported by FactSet. Losses for the first quarter were wider than analysts had expected.

Gitlab — Shares dropped 8% after CEO Bill Staples outlined plans for significant restructuring amid the company’s shift to agent AI. This includes layoffs and a reduction in geographical operations. Gitlab aims to decrease its operational countries by as much as 30% and plans a reorganization of its R&D into roughly 60 small teams. The specifics around job cuts and financial impacts weren’t disclosed, but further details are expected during their upcoming earnings call on June 2.