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New Relic shares rise after data analytics firm beats market forecasts with quarterly financials
New Relic Inc. shares rose in after-hours trading Tuesday after the data analytics firm beat market forecasts with their quarterly financials.
The company reported revenue of $33.4 million for the quarter, up 68 percent compared with the fourth quarter of fiscal 2014 and 15 percent from the third quarter of fiscal 2015.
GAAP loss from operations come in at $14.7 million for the quarter, compared with GAAP loss from operations of $9.5 million for the fourth quarter of 2014.
On a per share basis, the net loss came in at 22 cents a share.
The market had been predicting revenue of $30.29 million and a loss of 25 cents per share.
For the 2015 fiscal year, which for New Relic has just ended, the company delivered $111.39 million in revenue, ahead of the market projection of $107.29 million, and a healthy 74 percent up on their 2014 financial year.
“Our fourth quarter results capped off an incredible year of growth and innovation for New Relic. We successfully drove new business across organizations of all sizes – especially in the enterprise, and added three entirely new products to our cloud-based New Relic Software Analytics Platform,” Cheif Executive Officer and Founder of New Relic Lew Cirne said in a statement. “As we enter FY16, we are focused on continuing to empower companies of all sizes to deliver great software that drives their business through world-class customer experiences.”
For the financial year ahead, New Relic predicted revenue of between $155.0 million and $159.0 million, or year on year growth of 40 percent to and 44 percent, with a Non-GAAP loss of between $46.0 million and $50.0 million, or $0.95 and $1.03.
As we’ve reported recently on New Relic, the company is going in some interesting new directions, including its expansion into monitoring Docker containers, and further building a service map application that will be able to better identify data center resources and streamline its alert system to compensate for IT staff fatigue.
New Relic shares were up 5.34 percent to $34.50 in after-hours trading.
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