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New Relic Announces Second Quarter of Fiscal Year 2018 Results


 Tags:   News: Cameras & Photography                This was published: 7 Nov 2017 - 09:26 pm         Print article: Printer friendly page
          

New Relic, Inc. (NYSE: NEWR), provider of real-time insights for software-driven businesses, today announced financial results for the second fiscal quarter ended September 30, 2017.



“In the second quarter, annualized recurring revenue (ARR) from our enterprise accounts exceeded 50 percent for the first time and we closed our first New Relic Infrastructure transaction greater than one million dollars in ARR, as the world’s largest companies increasingly rely on New Relic to dramatically increase their pace of innovation and quality of customer experience," said Lew Cirne, CEO and founder, New Relic. "Through our deep and ubiquitous instrumentation and industry leading applied intelligence, New Relic is helping enterprises more quickly identify and fix problems, deliver an amazing digital customer experience, and build high-performing DevOps teams – so they can move faster, with confidence.”

Second Quarter 2018 Financial Highlights:

  • Revenue of $84.7 million, growing 33% year-over-year, and up 6% sequentially from the first quarter of fiscal 2018.
  • GAAP loss from operations was $(14.8) million for the second quarter of fiscal 2018, compared to $(14.3) million for the second quarter of fiscal 2017. Non-GAAP loss from operations was $(3.5) million for the second quarter of fiscal 2018, compared to $(4.9) million for the second quarter of fiscal 2017.
  • GAAP net loss per share was $(0.27) for the second quarter of fiscal 2018 based on 54.7 million weighted-average shares outstanding, compared to $(0.28) for the second quarter of fiscal 2017 based on 51.3 million weighted-average shares outstanding. Non-GAAP net loss per share was $(0.06) for the second quarter of fiscal 2018, compared to $(0.09) for the second quarter of fiscal 2017.
  • Cash, cash equivalents and short-term investments were $227.5 million at the end of the second quarter of fiscal 2018, compared with $227.3 million at the end of the first quarter of fiscal 2018.

Customer Highlights:

  • Paid Business Accounts as of September 30, 2017 of approximately 15,900.
  • 51% of ARR from Enterprise Paid Business Accounts.
  • Dollar-Based Net Expansion Rate for the second quarter of fiscal 2018 of 123%.
  • New or expanded customers in the second quarter of fiscal 2018 included: 21st Century Fox, Absa Bank, Ancestry, Carnival Corporation, Dominion Enterprises, Dunkin Brands Group, East Carolina University, Expedia, Farm Credit Services of America, John Hancock Financial, Kurt Geiger Limited, MercadoLibre, Morningstar, MuleSoft, Nationwide Mutual Insurance Company, Norwegian Cruise Lines, Pearson, Procore Technologies, Red Hat Inc., Reed Elsevier, Scripps Network, Testo SE & Co. KGaA.

Second Quarter & Recent Business Highlights:

  • Held two-day, flagship FutureStack user event in New York, on September 13-14, and introduced the New Relic Platform Associate Certification, with a special Application Performance Monitoring (APM) certification course.
  • Announced expanded library of integrations with leading infrastructure components to Apache, Cassandra, MySQL, NGINX Plus, RabbitMQ, Redis, and StatsD through an updated release of the New Relic Infrastructure SDK.
  • Introduced new and expanded support for Microsoft Azure and Amazon Web Services (AWS) technologies for New Relic APM and New Relic Infrastructure, providing DevOps teams the ability to correlate, analyze, and alert on application and infrastructure performance from a single source.
  • Announced the New Relic Navigators Partner Program to help partners increase speed and visibility for their customers’ cloud migration and transformation projects with easy-to-deploy instrumentation, alerting, and analytics.
  • Launched New Relic Radar, NRQL Baseline Alerting, and New Relic APM Error Profiles, powered by New Relic Applied Intelligence (NRAI) to help customers use monitoring data to uncover and resolve problems faster.
  • Showcased plans to offer enhanced Distributed Tracing — a new way to provide end-to-end visibility into how code performs across the customer experience with distributed, multi-tier application architectures.

Outlook:

New Relic is initiating its outlook for its third quarter of fiscal 2018, as well as updating its outlook for the full fiscal year 2018. New Relic has not reconciled its expectations as to non-GAAP loss from operations or non-GAAP net loss per share to their most directly comparable GAAP measure as a result of uncertainty regarding, and the potential variability of, reconciling items such as stock-based compensation, lawsuit litigation expenses and employer payroll taxes on equity incentive plans. Accordingly, reconciliation is not available without unreasonable effort, although it is important to note that these factors could be material to New Relic’s results computed in accordance with GAAP.

  • Third Quarter Fiscal 2018 Outlook:
    • Revenue between $88.3 million and $89.8 million, representing year-over-year growth of between 30% and 32%, respectively.
    • Non-GAAP loss from operations of between $(4.0) million and $(5.0) million.
    • Non-GAAP net loss per share of between $(0.07) and $(0.09). This assumes 55.3 million weighted average common shares outstanding.
  • Updated Full Year Fiscal 2018 Outlook:
    • Revenue between $346.5 million and $349.5 million, representing year-over-year growth of between 31% and 33%, and an increase from prior guidance of between $344.0 million and $348.0 million that was issued on August 3, 2017.
    • Non-GAAP loss from operations of between $(13.0) million and $(14.0) million, an improvement from prior guidance of between $(14.0) million and $(17.0) million that was issued on August 3, 2017.
    • Non-GAAP net loss per share of between $(0.21) and $(0.22), an improvement from prior guidance of between $(0.23) and $(0.28) that was issued on August 3, 2017. This assumes 55.4 million weighted average common shares outstanding.

Conference Call Details:

  • What: New Relic financial results for the second quarter fiscal 2018 and outlook for the third quarter and the full year of fiscal 2018
  • When: November 7, 2017 at 2:00 P.M. Pacific Time (5:00 P.M. Eastern Time)
  • Dial in: To access the call in the U.S., please dial (833) 241-7256, and for international callers, please dial (647) 689-4220. Callers may provide confirmation number 92748961 to access the call more quickly, and are encouraged to dial into the call 10 to 15 minutes prior to the start to prevent any delay in joining.
  • Webcast: http://ir.newrelic.com (live and replay)
  • Replay: Following the completion of the call through 11:59 PM Eastern Time on November 14, 2017, a telephone replay will be available by dialing (800) 585-8367 from the United States or (416) 621-4642 internationally with conference ID 92748961.

Article source - Business Wire, all right reserved. Copyright 2017
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Further information:
Organisation name:    New Relic Corporate Communications
Organisation stock symbol: NYSE:NEWR


Latest stock price data for NYSE:NEWR

 


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