New Relic, Inc. - NEWR STOCK NEWS

New Relic (NYSE: NEWR) has appointed Riya Shanmugam as Group Vice President of Global Alliances and Channels, effective immediately. With a background from Adobe and Google Cloud, Shanmugam will focus on enhancing partner strategies and channel programs to expand New Relic's observability offerings globally. The company enjoyed a record year in 2021, driven by its relationship with AWS and channel partners. Shanmugam aims to simplify partner engagement and empower the ecosystem with resources. New Relic's commitment to innovation positions it for continued growth in cloud-based observability.

New Relic, Inc. (NYSE: NEWR) reported an 18% year-over-year revenue increase to $196 million for Q2 FY2022, achieving a GAAP gross margin of 67%. However, the company incurred a GAAP operating loss of $(47.0) million, higher than $(42.9) million in Q2 FY2021. The non-GAAP operating loss was $(6.4) million, a slight increase from $(5.3) million year-over-year. With cash reserves totaling $784 million, New Relic expects Q3 FY2022 revenue between $198 million and $202 million. Future outlook reflects continued growth, despite ongoing operational losses.

New Relic has been recognized in Inc.'s inaugural Best Led Companies list, highlighting its excellence in management across performance, market engagement, talent, and leadership. This prestigious list evaluates mid-sized companies with revenues between $50 million and $2 billion. New Relic’s leadership team has contributed to its success through innovative strategies and significant corporate announcements, including key executive appointments and new product launches, enhancing its commitment to customers and employees.

New Relic has launched New Relic CodeStream, a developer experience connecting observability with code collaboration. Following its acquisition of CodeStream, this integration enhances tools like VS Code, Visual Studio, GitHub, and Microsoft Teams. The new Core user option is priced at $49 per month, aimed at making observability more accessible. The preview period starts from October 21, 2021 to January 12, 2022. The initiative focuses on reducing barriers for developers, improving integration, and expanding market reach.

New Relic has launched New Relic Instant Observability, an open-source ecosystem featuring over 400 quickstarts to aid software engineers in monitoring and managing their entire technology stack. This initiative includes contributions from industry leaders like Cribl, Fastly, Gigamon, Kentik, Lacework, and Trend Micro, enhancing the adoption of observability practices. The platform is offered within New Relic's free pricing tier, aiming to bridge the gap in observability maturity, where only 26% of engineers reported having a robust practice. The company emphasizes its ongoing commitment to open-source technology.

New Relic, Inc. (NYSE: NEWR) will report its financial results for Q2 on November 8, 2021. An investor letter will be available on the company's investor relations page. A conference call for Q&A is scheduled for 2 p.m. PT on the same day. Interested parties can access a live webcast and a replay from the investor relations site. This report serves to keep stakeholders informed about upcoming financial disclosures and related communication opportunities.

New Relic (NYSE: NEWR) released its 2021 Observability Forecast revealing a disconnect between the critical need for observability and the current maturity of practices. Key findings include that while 90% of software engineers value observability, only 26% report mature practices. Despite this, 81% of executives plan to increase their observability budgets next year, with 20% expecting substantial hikes. The study indicates that consolidating tools into a unified platform is vital for progress. Additionally, there's a noted gap in strategy for implementing observability in organizations, affecting operational efficiency and customer experience.

New Relic, Inc. (NYSE: NEWR) reported its first-quarter fiscal 2022 results, achieving $180 million in revenue, up from $163 million in Q1 FY2021. Despite this revenue growth, the GAAP loss from operations increased to $(73.9) million, compared to $(26.1) million in the prior year. The company expects Q2 FY2022 revenue between $181 million and $183 million, with a non-GAAP loss from operations projected at $(13) million to $(15) million. New Relic ended Q1 FY2022 with $817 million in cash and equivalents.

New Relic (NYSE: NEWR) has introduced the first HIPAA-compliant observability platform for monitoring application and infrastructure performance involving Protected Health Information (PHI). This solution integrates metrics, events, logs, and distributed traces into a single platform, enabling healthcare organizations to ensure compliance and optimize system performance. Priced competitively at $0.25/GB, New Relic One supports full-stack analysis across cloud and on-premises environments, helping IT engineers identify and resolve issues promptly, thus maintaining the security of patient data.