SUMO - SUMO STOCK NEWS

Sapphire Ventures has successfully raised $1.7 billion across multiple funds, increasing its total Assets Under Management (AUM) to over $5.7 billion. This capital will primarily support investments in Series B to IPO stages of enterprise technology companies in the U.S., Europe, and Israel. In 2020, Sapphire committed more than $970 million to 48 companies, achieving notable milestones including IPOs for JFrog (NASDAQ: FROG) and Sumo Logic (NASDAQ: SUMO).

Sumo Logic will showcase its observability solutions during AWS re:Invent from Nov. 30 to Dec. 18. Highlighting a fireside chat on Dec. 17 with Redmonk’s James Governor, Sumo Logic aims to educate AWS users on implementing effective observability strategies. Their cloud SIEM solution provides real-time analytics, ensuring security and performance across applications. The virtual booth will include daily technical sessions and demos focused on AWS observability and security. Sumo Logic's participation emphasizes its role in helping organizations manage modern distributed applications effectively.

Sumo Logic reported strong Q3 results for fiscal 2021, achieving $51.9 million in revenue, a 28% year-over-year increase. The company raised $342.7 million through its IPO, enhancing its cash position to $407.5 million. Despite the growth, Sumo Logic faced a GAAP net loss of $23.9 million or $0.43 per share. For Q4, expected revenue is between $51.8 million and $52.3 million, indicating 17% to 18% growth year-over-year, with a forecasted non-GAAP operating loss of $11.4 million to $10.9 million.

Sumo Logic (Nasdaq: SUMO) appointed Tracey Newell as an independent board member to strengthen its leadership as it enters a phase of global expansion. Her extensive experience in go-to-market strategies at high-growth tech companies like Informatica and Proofpoint will guide Sumo Logic's efforts in operational, security, and business intelligence sectors. This strategic addition aims to enhance the company's position as a continuous intelligence leader, driving growth and innovation in the digital landscape.

Sumo Logic has released its 5th Annual Continuous Intelligence Report, highlighting a significant surge in multi-cloud adoption during the COVID-19 pandemic, with a 70% increase year-over-year. The report analyzes data from over 2,100 customers, showing enterprises increasingly utilizing cloud services like AWS, Azure, and GCP. Key findings indicate a shift toward modern cloud infrastructures, with 85% adopting Kubernetes. The report underscores the necessity for enhanced security measures, as the threat landscape evolves, alongside the growing importance of DevSecOps in remote work.

Sumo Logic (Nasdaq: SUMO) has announced a new integration of its Cloud SIEM solution with AWS Network Firewall. This collaboration aims to enhance security for users by enabling real-time visibility into AWS-native network traffic. The integration will automate threat correlation and expedite the detection and remediation of security issues. Key benefits include automated security operations, threat insights, rapid response capabilities, and a low total cost of ownership, which addresses challenges faced by security operations teams in the evolving digital landscape.

Sumo Logic (Nasdaq: SUMO) has announced its participation in several upcoming investor conferences. The events are the RBC Capital Markets Global Technology Conference on November 18 at 1:20 PM ET, the Jefferies Virtual Public Cloud Summit on November 30 at 1:00 PM ET, and the Morgan Stanley Future of App Development Conference on December 9 at 12:00 PM ET. Interested parties can access webcasts of these presentations on Sumo Logic's investor relations website. Sumo Logic is a leader in continuous intelligence, serving over 2,100 customers globally.

Sumo Logic (Nasdaq: SUMO) will release its third-quarter financial results for fiscal 2021 on December 7, 2020, after market close. A conference call will follow at 1:30 PM PT (4:30 PM ET) to discuss the results and business highlights. Interested parties can access the call by dialing (877) 407-0784 in the U.S. or (201) 689-8560 internationally. Sumo Logic offers a Continuous Intelligence Platform that automates data analysis for over 2,100 customers globally. More details can be found on their investor relations website.

Sumo Logic (NASDAQ: SUMO) announced that underwriters fully exercised their option to purchase an additional 2,220,000 shares at $22.00 each, totaling 17,020,000 shares offered and generating gross proceeds of $374.4 million before expenses. Morgan Stanley and J.P. Morgan led the offering, with RBC Capital Markets and Jefferies as co-managers. The registration statement was declared effective on September 16, 2020. This offering will enhance Sumo Logic's financial position, supporting its continuous intelligence platform for data analysis and modern applications.