SUMO - SUMO STOCK NEWS

Sumo Logic, a leader in continuous intelligence, announces the Modern SOC Summit, a virtual event taking place on June 8-9, 2021. This free education event targets security and IT professionals, featuring expert-led sessions and hands-on training on cloud-native security. Attendees will explore advanced security techniques and earn certifications. Notable speakers include U.S. Department of Energy CTO Pete Tseronis and Sumo Logic’s leaders. Registration is now open, providing opportunities for professionals to enhance their security strategies and practices.

Sumo Logic has launched its Cloud SIEM solution in Australia to enhance security operations for organizations. This solution merges analytics and automation, addressing issues like alert fatigue and providing actionable insights for security analysts. With growing demand to modernize security practices, Sumo Logic aims to tackle challenges posed by legacy systems. The company has also seen growth in the Asia Pacific region, collaborating with key partners to fulfill data privacy and residency requirements. A global Modern SOC Summit is scheduled for June 8-9, 2021.

Sumo Logic (Nasdaq: SUMO) has announced its acquisition of DF Labs, a provider of security orchestration, automation, and response (SOAR) software. This strategic move aims to enhance Sumo Logic’s cloud-native SIEM solution, reducing manual tasks and empowering security operations teams. The integration of DF Labs’ SOAR software is expected to significantly improve threat detection and incident response capabilities. The acquisition is anticipated to close in Q2 of fiscal 2022, subject to customary conditions.

Sumo Logic reported fiscal 2021 revenue of $202.6 million, up 31% year-over-year, with fourth-quarter revenue increasing by 22% to $54.2 million.

The company experienced a GAAP net loss of $80.3 million for the year, translating to $1.65 per share. In addition, Sumo Logic announced plans to acquire DF Labs S.p.A. to enhance its security offerings.

Looking ahead, Sumo Logic expects first-quarter 2022 revenue between $53.2 million and $54.2 million, reflecting 13% to 15% growth.

Sumo Logic (Nasdaq: SUMO) released a study by Forrester Consulting demonstrating the financial benefits of its Cloud SIEM solution for enterprises with $2-$10 billion in annual revenue. The study indicates that Sumo Logic's Cloud SIEM reduces false positive alerts by 90%, improving threat remediation effectiveness and decreasing incident response time. It also saves almost four hours per incident and reduces the audit cycle by six weeks annually. Overall, the solution enhances security posture and operational efficiency in modern security operations.

Sumo Logic announces updates to its Observability Suite, enhancing visibility into microservices architectures. Key features include Service Maps and Service Dashboards, which provide DevOps teams with real-time insights into application performance and dependencies. Enhancements to the Root Cause Explorer now support Kubernetes metrics and AWS services, facilitating quicker issue resolution. Additionally, a new Global Intelligence Service offers recommendations for Kubernetes deployments. The updates aim to improve application reliability and operational efficiency.

Sumo Logic, a leader in continuous intelligence, announced that its management team will present at two key investor conferences. The first is the Morgan Stanley Technology, Media and Telecom Conference on March 2, 2021, at 2:00 PM PT. The second, the Berenberg Cyber Security & DevOps Conference, will take place on March 12, 2021, at 11:00 AM PT. Webcasts for these events will be available on Sumo Logic's investor relations website. Sumo Logic continues to support over 2,100 customers globally by providing insights for modern applications and cloud infrastructures.

Sumo Logic (Nasdaq: SUMO) announces an expansion of its services with fintech leaders like Currencycloud, MoonPay, and Snoop, leveraging its Continuous Intelligence Platform™ to enhance operational efficiency and security. This platform provides real-time insights crucial for diagnosing issues and reducing service interruptions. As the fintech sector saw $44 billion in global investments in 2020, Sumo Logic supports these companies in adapting to rapid changes, ensuring compliance, and enhancing customer experiences. This strategic partnership aims to address the growing need for real-time analytics.

Sumo Logic (Nasdaq: SUMO) announced it will report its financial results for Q4 and the full year ended January 31, 2021, after market close on March 10, 2021. A conference call will follow at 1:30 PM PT to discuss the results and business highlights. Investors can access the call by dialing the appropriate phone numbers or through a live webcast available on their Investor Relations website. Sumo Logic focuses on continuous intelligence, providing solutions for data challenges amid digital transformation.