New Relic on Tuesday published financial results for its fourth quarter, beating market expectations.
The data analytics firm posted a non-GAAP net loss of 11 cents per share for Q4 2017, compared with a net loss of 24 cents per share in Q4 2016. Fourth quarter revenues came to $73.3 million, up 40 percent year-over year.
Wall Street was expecting a non-GAAP loss of 15 cents per share on revenue of $72.45 million.
New Relic also reported its full-year fiscal 2017 results, posting a non-GAAP net loss of 49 cents per share on revenue of $263.5 million.
The last quarter's strong growth, CEO Lew Cirne said in a statement was "driven by our success in the enterprise market, as nearly every forward-thinking company today is making a strategic investment in cloud and digital transformation initiatives."
As of March 31, the company has 15,216 paid business accounts, with new business from companies including Adobe, LinkedIn, Bose Corporation, Buffalo Wild Wings, and the Centers for Medicare and Medicaid Services.
Looking ahead, New Relic expects to achieve positive free cash flow for 2018 and for non-GAAP operating income to break even by the end of the fiscal year, CFO Mark Sachleben said in a statement.
For Q1 2018, New Relic is expecting a non-GAAP net loss between 12 and 14 cents a share on revenue between $77 million and $78.5 million.
Meanwhile, Nuance Communications published its Q2 2017 results, exceeding Wall Street's revenue expectations.
After changing its accounting methods, the company reported a non-GAAP net income of $92.8 million, or 32 cents per share, on revenue of $499.6 million. Its non-GAAP revenue came to $511.1 million.
Wall Street was looking for revenue of $495.2 million.
Nuance reported net new bookings of $410.4 million for the quarter, up 31 percent from a year ago.
"We reported solid results in each of our key financial metrics including net new bookings, revenue, recurring revenue, and EPS," CFO Dan Tempesta said in a statement. "Our first half 2017 performance along with our outlook for the third quarter and rest of the year provide us with the confidence that we will maintain our momentum while, remaining focused on organic revenue growth and cost and expense discipline."