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New Relic has launched enhanced error tracking capabilities to aid engineering teams in detecting and managing software errors proactively. These improvements offer a user impact view, correlation across traces and logs, and seamless integration with Slack for faster triage and resolution. In the past year, engineering teams have identified over 1 million errors using New Relic's platform. The new features are designed to enhance customer experience by minimizing unnoticed errors that could disrupt operations. Error tracking is now available for free to all New Relic users.
New Relic has expanded its integration ecosystem by over 25% in 2022, now offering more than 500 integrations with leading cloud services, open source tools, and enterprise technologies. The recent appointment of Gal Tunik as vice president of product partnerships aims to accelerate observability practices for engineering teams across various industries. The company's 2022 Observability Forecast indicates that businesses are increasingly prioritizing observability technologies, with significant growth expected by 2025. Key partnerships with major providers like AWS and Microsoft Azure further enhance New Relic's offerings.
New Relic (NYSE: NEWR) announced new integrations with Amazon Web Services at AWS re:Invent 2022. The integrations support AWS Compute Optimizer, AWS Lambda Extensions, and AWS App Runner, enhancing observability for engineers. These tools enable customers to reduce costs, optimize performance, and accelerate cloud migration. The partnership aims to simplify observability, helping clients monitor their entire stack efficiently. New Relic continues to expand its offerings with no additional costs for AWS users.
New Relic reported strong financial results for Q2 FY 2023, achieving revenue of $226.9 million, a 16% increase from last year. The company realized a non-GAAP operating income of $6.9 million, marking a significant turnaround from the previous year’s loss. Additionally, cash flows from operating activities improved drastically to $36.3 million.
Looking ahead, New Relic expects Q3 revenue between $230 million and $235 million and FY 2023 revenue between $912 million and $920 million, indicating robust growth projections.
New Relic (NYSE: NEWR) has announced a collaboration with Carta and Zendesk to enhance its startups initiative. This partnership aims to provide early-stage engineering teams with access to industry-leading tools for observability, enabling better software performance and customer experiences. The program, originally launched in 2021, has expanded to hundreds of startups across various sectors.
Eligible startups will benefit from discounted access to New Relic's observability platform, along with tools from Carta and Zendesk. The collaboration simplifies access to essential resources for startups, supporting their growth and efficiency.
New Relic has launched the public preview of Vulnerability Management, enhancing application security for organizations. This feature provides instant visibility into security risks without additional configuration, available with a free 90-day trial. The tool integrates external security data, helping teams quickly identify vulnerabilities across their software stack. It includes recommendations for updates and easy collaboration on mitigation efforts. This move aims to unify security practices and foster innovation, addressing the growing complexity of modern software systems.
New Relic (NYSE: NEWR) has launched a new Development Center in Hyderabad, India, following the establishment of its first office in Bengaluru earlier this year. This center aims to leverage India's growing tech talent pool to enhance its observability platform, focusing on APM, security, and customer experience. With this expansion, New Relic plans to increase its Hyderabad workforce by 150% within six months. India's market is now New Relic's fastest growth area in Asia, with a commitment to supporting local organizations adopting advanced technologies.
New Relic (NYSE: NEWR) will report its Q2 fiscal year 2023 financial results on November 8, 2022, after market close. The company will host a conference call at 2:00 p.m. PT to discuss the results and future outlook with investors. New Relic specializes in observability, helping engineers with a unified data platform for better software performance and operational efficiency. The company's innovative pricing model offers value to clients, enhancing their data-driven decision-making capabilities.
New Relic (NYSE: NEWR) has appointed Mark Dodds as Chief Revenue Officer, leveraging his extensive experience from AWS and Microsoft to enhance sales and customer adoption. CEO Bill Staples expects the company to surpass its previous quarterly revenue and non-GAAP operating profit guidance for Q2 2023. The leadership transition aims to drive growth within the observability sector, aided by Dodds' operational expertise and focus on consumption models. Recent team expansions also include new financial and product leadership roles, positioning New Relic for accelerated business performance.
