New Relic Inc Stock Price, News & Analysis

New Relic has been recognized as a Leader and Outperformer in the 2023 GigaOm Radar for Cloud Observability Solutions. The evaluation assessed 21 providers based on product capabilities, roadmap, ecosystem strength, and execution, positioning New Relic near the center for overall customer value. The company's all-in-one observability platform offers full lifecycle visibility, pricing as a single package, and a hyperscale data cloud platform. New Relic’s innovative solutions enhance uptime, operational efficiency, and customer experiences, indicating strong market relevance.

New Relic announced the launch of CodeStream, an observability feature integrating code-level metrics and service-level telemetry directly into developers' IDEs. This innovation allows developers to address code performance issues swiftly, enhancing productivity throughout the software development lifecycle (SDLC). New Relic's approach reduces the disconnect between coding and observability, crucial given that poor software quality costs the U.S. economy $2.41 trillion. CodeStream supports core programming languages, including .Net, Java, PHP, Python, and more, and is available at no extra cost to full platform users.

New Relic (NYSE: NEWR) has announced its participation in several upcoming investor conferences. Key events include:

• Wolfe Research Software Conference on February 28, 2023 (CFO David Barter)
• Bernstein TMT & Consumer 1:1 Forum on March 1, 2023 (CFO David Barter)
• JMP Securities Technology Conference on March 6, 2023 at 10:00 a.m. PT (CEO Bill Staples)
• Morgan Stanley Technology, Media & Telecom Conference on March 7, 2023 at 8:00 a.m. PT (CEO Bill Staples)

Live webcasts of these presentations will be available on New Relic's investor relations page.

New Relic (NYSE: NEWR) has partnered with Benevity to standardize its observability practice on New Relic’s all-in-one platform, improving uptime across $10 billion in charitable donations and 46 million volunteer hours. This move consolidates disparate open-source tools, enhancing system monitoring, reducing mean time to detection (MTTD) to under 5 minutes, and mean time to resolution (MTTR) to under 30 minutes. New Relic's Chief Growth Officer emphasized the partnership's role in facilitating effective corporate philanthropy, which resulted in $325,000 in donations and over 5,000 volunteer hours last year.

New Relic (NYSE: NEWR) has partnered with William Hill, a leading gaming company, to enhance its observability strategy. This collaboration consolidates three monitoring tools into New Relic's platform, aimed at achieving 100% uptime for online betting services that handle up to 5 million digital transactions daily. Key benefits include a 35% reduction in detection time, 30% less resolution time, and 60% fewer false alerts. New Relic's all-in-one observability solution allows teams to proactively manage incidents and understand the revenue impact of outages, positioning it as an essential tool for digital businesses.

New Relic reported Q3 FY2023 revenue of $239.8 million, an 18% year-over-year increase from $203.6 million. Gross margin rose to 74.4%, up from 66.2%, while non-GAAP gross margin reached 77.6%. The company narrowed its loss from operations to $(29.1) million, improving $22.8 million year-over-year. Non-GAAP operating income was $18.7 million, contrasting with a $(10.6) million loss last year. New Relic is guiding Q4 revenue between $240 million and $242 million, reflecting year-over-year growth of 16.6%-17.6%. The company added over 800 new paid customers and expanded its offerings, enhancing its market position.

New Relic (NYSE: NEWR) has launched an innovative change tracking solution that enhances the visibility of change events within the engineering stack. This feature enables teams to monitor changes—from deployments to configuration modifications—quickly correlating them with performance data to address issues effectively. Notably, outages can cost businesses up to USD 300,000 per hour, making this tool essential for maintaining system reliability. Available at no extra cost to full platform users, the change tracking solution integrates seamlessly with CI/CD tools, providing engineers with fast context for change-related incidents.

New Relic (NYSE: NEWR) has announced the launch of the Azure Native New Relic Service on the Microsoft Azure Marketplace. This service enhances enterprise cloud migration and multi-cloud efforts by allowing Azure customers to collect and store telemetry data using New Relic’s observability platform. Customers can use their committed Azure spend to fund this service. The collaboration aims to provide better integration for developers to monitor applications and infrastructure effectively. New Relic’s observability tools will support the growing trend of multi-cloud initiatives, allowing users to optimize resources and troubleshoot issues efficiently.