Home Top Movers Let's check out the New Relic Inc. (NEWR) Fundamentals and Earnings

Let’s check out the New Relic Inc. (NEWR) Fundamentals and Earnings

New Relic, Inc. (NYSE: NEWR) stock was down -18.24 to $66.00 in the before hours session. New Relic Inc.’s (NEWR) stock has been trading 0.41 percent below its three-month high. A look at the other side shows the stock trading +52.5% above its three-month low. Taking a broader look, NEWR is trading 14.18% above its 52-week low and -0.41% below its 52-week high.

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On February 4, 2021, New Relic, Inc. (NYSE: NEWR) reported its third-quarter financial results.

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Q3 Fiscal Year 2021 Highlights:

  • The revenue for the third quarter of fiscal 2021 was $166 million instead of $153 million in the year-ago period.
  • Non-GAAP gross margin of 74% in contrast with GAAP gross margin of 72%.For the third quarter of fiscal 2021, GAAP loss from operations totaled $(48.0) million versus $(24.2) million year over year.
  • For the third quarter of fiscal 2021, non-GAAP income (loss) from operations was $(8.4) million, compared to $3.0 million in the same quarter of 2020.
  • A GAAP loss of $(0.88) was reported for the third quarter of fiscal 2021 by New Relic. The loss for the same period a year ago was $(0.46).
  • Free cash flow for the third quarter of fiscal 2021 was $12.70 million, while cash flow from operating activities was $6.71 million.
  • At the end of the third quarter of fiscal 2021, cash, cash equivalents, and short-term investments were $785 million, down from $840 million at the end of the second quarter.
  • At the end of the third quarter, 2021 performance obligations were $648 million, compared with $602 million at the end of the second quarter. This is the total unrecognized transaction price of remaining performance obligations at each December 31, 2020, and September 30, 2020.

Company Previous Developments

  • According to the company, New Relic, Inc. (NYSE: NEWR) recently acquired Pixie Labs, an Observability Solution for Kubernetes Developers.
  • AWS and the company expanded their Global Strategic Collaboration Agreement to help accelerate Cloud Technology’s adoption.

“Throughout our go-to-market and platform strategies, customers have responded positively,” said Lew Cirne, CEO and founder of New Relic. As evidenced by steady growth in data ingest, we are successfully migrating most of our larger customers to our new model, and customer engagement is increasing.

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