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New Relic, Inc. (NEWR) is a leading software analytics company that delivers real-time performance insights for software, infrastructure, and customer experience to software-driven businesses. These insights enable organizations to innovate faster, reduce complexity, and mitigate risks associated with digital transformation.
Core Business: New Relic's core business focuses on providing a robust platform for application performance management (APM) and monitoring. Their comprehensive suite of tools helps businesses monitor and optimize their software applications, ensuring they run efficiently and effectively. This helps companies to accelerate cloud adoption, streamline DevOps processes, and prepare for critical digital moments.
Recent Achievements: New Relic has made significant strides in the tech industry, consistently releasing updates and new features to enhance their platform. They focus on maintaining cutting-edge technology that supports innovation and agility in software development and IT operations.
Current Projects: The company is actively working on enhancing their observability platform, integrating artificial intelligence and machine learning to provide more predictive analytics. Another key focus is expanding their market reach through strategic partnerships and collaborations.
Financial Condition: New Relic maintains a strong financial standing with continuous growth in revenue, driven by the increasing demand for robust software performance monitoring solutions. The company remains dedicated to investing in research and development to stay ahead of industry trends and meet the evolving needs of their clients.
Partnerships: New Relic collaborates with various technology partners to broaden their service offerings and integrate seamlessly with other platforms. These partnerships enhance their capability to provide comprehensive solutions to a diverse range of clients.
Products: New Relic's product lineup includes tools for APM, infrastructure monitoring, digital experience monitoring, log management, and more. Their platform is designed to deliver end-to-end visibility across the entire software stack, empowering businesses to make informed decisions based on real-time data.
New Relic's mission is to provide unparalleled visibility into the performance and health of applications, enabling companies to deliver optimal digital experiences to their customers. By cutting through the complexity associated with digital transformation, New Relic ensures that businesses can innovate and scale with confidence.
New Relic (NYSE: NEWR) has appointed RK Mahendran from HMI Capital Management to its Board of Directors, effective June 24, 2021. This move aligns with the company's efforts to enhance board refreshment and governance, supported by feedback from shareholders like Engaged Capital. The board will also seek approval for declassifying its structure at the upcoming 2021 annual meeting, aiming for full de-staggering by 2023. Michael Christenson, former president and COO, will resign from the board. Mahendran’s appointment is expected to accelerate New Relic's growth and transformation.
New Relic, Inc. (NYSE: NEWR) announced innovative product developments and community initiatives at its FutureStack 2021 conference. Key highlights include the launch of Auto-Telemetry with Pixie for instant Kubernetes observability, enhancing developers’ capabilities without code updates. Additional advancements encompass improved Error Tracking and Network Observability through a partnership with Kentik. New community offerings include New Relic for Startups and Student Edition to support emerging engineers. The focus is on empowering developers to enhance software observability and digital experiences.
New Relic (NYSE: NEWR) reported Q4 and full fiscal year 2021 results, revealing revenue of $173 million, a 8% increase from Q4 FY20. However, the company experienced a GAAP loss from operations of $(54.3) million, worsening from $(27.5) million in the prior year. For the fiscal year, revenue reached $668 million, up 11% year-over-year, but incurred a GAAP loss of $(171.4) million. Looking ahead, the Q1 FY22 revenue outlook is $172-$174 million, indicating 6%-7% growth. Bill Staples will succeed Lew Cirne as CEO on July 1, 2021.
New Relic (NYSE: NEWR) has announced the promotion of Bill Staples to CEO, effective July 1, 2021, succeeding founder Lew Cirne, who will become Executive Chairman. Staples, who joined New Relic in 2020 as Chief Product Officer, has significantly impacted the company’s product strategy and customer focus, leading to a new consumption-based business model. Cirne will continue to contribute to innovation and strategy at New Relic. The leadership transition aims to accelerate growth and position the company as a leader in observability. The company's FutureStack conference is set for May 25-27, 2021.
New Relic (NYSE: NEWR) has joined the Cloud Native Computing Foundation (CNCF) Governing Board as a platinum member, supporting the mission of cloud-native computing. New Relic is contributing its Pixie observability platform as an open-source project under the Apache 2.0 license. The collaboration with AWS will enhance Pixie’s capabilities for AWS users. Zain Asgar, GM of Pixie, will participate in a keynote at KubeCon + CloudNativeCon Europe 2021, emphasizing New Relic's commitment to open source and standardization with CNCF's OpenTelemetry.
New Relic (NYSE: NEWR) announced its upcoming FutureStack conference scheduled for May 25-27, bringing together engineers and developers to enhance software observability. The event will cover themes of 'open,' 'build,' and 'run,' focusing on extending observability throughout the software lifecycle. Key speakers include industry leaders from Amazon Web Services and Google. Attendees will engage in workshops and keynotes aimed at democratizing observability practices. The conference is free and aims to foster community engagement and innovation in software development.
New Relic (NYSE: NEWR) has been recognized by Gartner as a Leader in the 'Magic Quadrant for Application Performance Monitoring' for the ninth time, according to a report published on April 9, 2021. Gartner highlights New Relic’s ability to integrate multiple telemetry data types for analysis, setting it apart from competitors. This recognition is seen as a validation of New Relic's evolution into a comprehensive observability platform, enabling enterprises to unify telemetry and monitoring workflows effectively. New Relic One is noted for its scalability and low data ingestion costs.
New Relic (NYSE: NEWR) will release its financial results for Q4 and fiscal year ending March 31, 2021, on May 13, 2021, after market close. The company will also provide an investor letter on its website. A conference call to discuss the earnings will take place at 2 PM PT (5 PM ET) the same day. Callers are advised to join early. A replay of the call will be available until May 20, 2021. New Relic's observability platform supports engineering teams in improving software performance and efficiency.
New Relic (NYSE: NEWR) has launched new capabilities in New Relic Applied Intelligence, aimed at enhancing incident detection and resolution for engineers. The update includes automated anomaly detection, root cause identification, and log data analysis, all available at no extra cost, including for free-tier users. These features utilize machine learning to reduce troubleshooting time and alert noise. The enhancements aim to simplify AIOps adoption, addressing previous barriers like steep learning curves and high costs, allowing engineers to proactively manage issues and improve customer experiences.
New Relic (NYSE: NEWR) has launched New Relic Explorer, a revitalized Full-Stack Observability tool that offers engineers enhanced visibility into their systems without requiring configuration. The tool combines telemetry data from various applications and infrastructure, enabling swift identification and resolution of performance issues. Upcoming updates will automatically enhance the experience for existing customers. Industry experts emphasize the importance of real-time visibility for IT teams to maintain effective operations and prevent customer impact.
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