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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 has appointed David Barter as its new Chief Financial Officer, effective August 17, 2022. Barter, who previously served as CFO at C3 AI and Model N, brings nearly three decades of finance experience from high-growth companies like Microsoft and General Electric. His focus will be on accelerating New Relic's business goals and ensuring long-term growth strategy. He succeeds Mark Sachleben, who is transitioning to an advisory role after 14 years. Barter is expected to leverage his experience to enhance financial strategies.
New Relic reported a 20% year-over-year revenue increase to $216 million for Q1 FY2023, surpassing expectations. GAAP gross margin stood at 71%, while the GAAP loss from operations improved to $(56) million, down from $(74) million a year prior. Active customer accounts grew to 15,100, with 83% revenue from accounts over $100,000. The company also announced a partnership with Microsoft Azure and received HITRUST certification. For Q2 FY2023, revenue guidance is projected between $219 million and $224 million, reflecting approximately 12% to 14% growth.
New Relic announces the launch of New Relic Monitoring for SAP, a pioneering agentless observability solution for enterprises utilizing SAP systems. This tool allows IT teams to monitor critical business processes efficiently by leveraging existing SAP data, eliminating the need for intrusive installations. The product offers comprehensive telemetry access, agile root-cause analysis, and advanced alerting features, facilitating swift resolution of issues that could disrupt revenue-generating operations. This solution is certified for SAP NetWeaver 7.5 and is now generally available.
New Relic (NYSE: NEWR) has announced it will release its financial results for Q1 ending June 30, 2022, after market close on August 4, 2022. A conference call will follow at 2 p.m. PT to discuss these results, accessible via phone or a live webcast through New Relic's investor relations page. A replay will be available until August 11, 2022. As a leader in observability, New Relic provides tools for engineers to enhance software performance, supporting notable brands like Banco Inter (OTC: BNCOY).
New Relic (NYSE: NEWR) has launched the New Relic Partner Stack, enhancing support for over 1,000 global partners, including cloud providers and managed service providers. This initiative offers comprehensive training, marketing resources, and sales tools aimed at facilitating observability practices in IT. Despite a growing observability market, only 26% of IT decision-makers have mature practices, citing resources and skills as barriers. This program aims to bridge that gap, while also expanding New Relic's global reach, particularly in the Americas, Europe, and Asia.
The partnership between New Relic (NYSE: NEWR) and Microsoft aims to enhance cloud migration and multi-cloud initiatives by integrating New Relic's observability platform into the Azure Portal. This strategic collaboration enables Azure customers to utilize New Relic services seamlessly and allocate their Azure spending towards these observability tools. Key benefits include deep integration support, the ability to use Microsoft committed spend for New Relic purchases, and the option to store telemetry data in Azure, simplifying observability management for enterprises.
New Relic (NYSE: NEWR) has expanded its Instant Observability ecosystem, adding over 470 integrations, a nearly 20% increase in six months. This enhancement includes contributions from key partners like Akamai, Atlassian, and Cloudflare. Instant Observability aims to simplify observability for engineers, enabling them to get started in minutes. Improvements include a guided onboarding interface and expanded integration options, aiding engineers in monitoring applications across various environments. New Relic continues to prioritize accessibility through its free pricing tier.
New Relic (NYSE: NEWR) has announced upgrades to its Application Performance Monitoring (APM) that automatically collect logs alongside application metrics and traces, enhancing troubleshooting efficiency for developers. This integrated feature allows engineers to analyze relevant logs in context with other telemetry data, simplifying log management and reducing configuration complexity. The updates include improved UI enhancements and robust security controls. The automatic logs-in-context feature is available for Java, Ruby, and .NET agents, with future support planned for Node.js, Python, Go, and PHP.
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