New Relic satisfies Q2 earnings with mixed outlook; buys DevOps startup Opsmatic
New Relic covered a number of moving parts after the bell on Thursday, publishing fiscal second quarter financial results and a new acquisition.
Tech Earnings
On a non-GAAP basis, the loss rang up at 17 cents per share on a revenue of $42.9 million, up 69 percent percent year-over-year.
Wall Street was bracing for a loss of 22 cents per share with $41.2 million in revenue.
New Relic CEO and co-founder Lew Cirne asserted in prepared remarks that the company has seen "strong adoption" for its software analytics cloud.
New Relic counted approximately 12,840 organizations under its customer umbrella as of the end of September, according to the Q2 report.
New Relic also quietly revealed it bought Opsmatic, a startup founded in 2013 with a cloud-based service geared toward DevOps teams for infrastructure monitoring in real-time.
Cirne elaborated in the announcement that Opsmatic's technology bolsters New Relic's offerings by offering insight into more configuration changes.
"This is important, because we believe today's successful software teams need real-time visibility into every component of their apps -- from the infrastructure all the way up to the user experience," Cirne wrote.
Financial terms of the deal have not been disclosed. Both New Relic and Opsmatic are based in San Francisco.
For the current quarter, Wall Street is expecting that loss to widen to 27 cents per share with $44.4 million in revenue.
New Relic responded with a Q3 revenue guidance range of $45 million and $46 million with a non-GAAP loss projected between 29 and 31 cents per share.