New Relic touts customer acquisition wins in Q4 earnings beat
New Relic published solid fourth quarter financial results Tuesday after the bell, meeting targets for both earnings and revenue.
The software analytics company posted a net loss of $19.2 million, or 39 cents per share (statement).
On a non-GAAP basis, the loss narrowed to 24 cents per share on revenue of $52.5 million, up 57 percent year-over-year.
Wall Street was expecting a loss of 24 cents per share on revenue of $50.7 million.
Elsewhere on the balance sheet, New Relic counted approximately 13,518 organizations under its customer umbrella at the end of Q4. The company also said it has expanded relationships with Adobe, Cisco, Dunkin' Brands, LinkedIn, Under Armour and landed new customers including Kiva Microfunds and John Lewis department store in the U.K.
New Relic also announced a partnership with Major League Baseball during the quarter that will aim to showcase how player performance data is used by both baseball teams and the businesses behind them.
As for the current quarter, Wall Street is expecting a loss of 22 cents per share with $54.32 million in revenue.
New Relic responded with a Q1 revenue guidance range of $56.2 million and $57.2 million, with an earnings per share loss between 23 cents and 25 cents.
For the year, New Relic expects revenue between $248 million and $253 million, which would represent year-over-year growth of nearly 40 percent. The guidance is well above the current Wall Street estimate of $242.88 million in revenue.