NEW RELIC, INC.
newrelic.comNo Longer Reporting
The company has not filed an annual or quarterly report since its Q2 FY2024 10-Q, filed Oct 27, 2023. Its latest SEC filing is a SC 13G/A from Feb 14, 2024.
10-Q for Q2 FY2024, filed Oct 27, 2023
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Sells cloud software that gathers and analyzes data from applications and technology systems, helping software developers and operations teams monitor, troubleshoot, and improve them.
10-K for FY2023, filed May 23, 2023
How Did They Make Money?
Customers mainly pay based on data sent to the platform and users provisioned. Pay-as-you-go customers are billed for actual usage; others commit to a minimum spend and may be billed upfront or as they use the service, while subscriptions cover access over a set contract term.
10-K for FY2023, filed May 23, 2023Historically, our platform was sold on a subscription-based model. Since fiscal year 2021, we have been focused on shifting to a…View ↗
Beginning in the second quarter of fiscal 2021, the Company started offering consumption-based pricing to its customers. Customers have the…View ↗
Revenue Recognition—The Company generates revenue from consumption-based and subscription-based agreements that allow customers to access…View ↗
$925.6M
-
10-K for FY2023, filed May 24, 2023
$925.6M ↗
Who Were Their Customers?
Software developers, operations teams and IT leaders use the platform. They can start through self-service; larger accounts are handled by direct sales, and sales also run through channel partners.
10-K for FY2023, filed May 23, 2023Under our “land-and-expand” business model, our sales strategy is to rely on two primary distribution channels, self-serve and sales-led…View ↗
Our marketing strategy focuses on meaningful interactions with practitioners and buyers by targeting software developers, operations…View ↗
Historically, our platform was sold on a subscription-based model. Since fiscal year 2021, we have been focused on shifting to a…View ↗
Did Revenues Turn Into Profits?
Not on paper. It lost $180.2M in FY2023, but brought in more cash than it spent: $50.7M of free cash flow.
10-K for FY2023, filed May 24, 2023
−$185.2MView ↗
10-K for FY2023, filed May 24, 2023
−$180.2MView ↗
10-K for FY2023, filed May 24, 2023
$50.7MView ↗
How Were They Changing?
- Net income
-
Sources
10-Q for Q2 FY2024, filed Oct 27, 2023
−$23.8MView ↗
- ▼ −49% (Loss)
- vs −$46.8M in Q2 FY2023
-
Nov 8, 2023
Francisco Partners and TPG completed the acquisition; New Relic was delisted
The all-cash deal paid $87.00 per share; New Relic's shares ceased trading on the New York Stock Exchange.
Sources
8-K, filed Nov 8, 2023
SAN FRANCISCO – November 8, 2023 – New Relic, the all-in-one observability platform for every engineer, announced that Francisco Partners…View ↗
-
Oct 27, 2023
Withdrew previously issued full-year guidance
New Relic said its previously issued fiscal 2024 guidance should no longer be relied upon.
Sources
8-K, filed Oct 27, 2023
Given the announcement made on July 31, 2023, regarding New Relic’s entry into a definitive agreement to be acquired by Francisco Partners…View ↗
-
Jul 31, 2023
Agreed to be acquired by Francisco Partners and TPG
The announced all-cash deal valued New Relic at approximately $6.5 billion, with shareholders offered $87.00 per share.
Sources
8-K, filed Jul 31, 2023
SAN FRANCISCO — July 31, 2023 — New Relic. (NYSE: NEWR), the all-in-one observability platform for every engineer, today announced that it…View ↗
Grew. Revenue grew 93% in 4 years, from $479.2M in FY2019 to $925.6M in FY2023, about 18% a year.
Subscription to usage-based pricing
The older report says free trials were intended to convert into paid subscriptions; the latest describes revenue as largely coming from plans charged by data ingested and users provisioned.
10-K for FY2020, filed May 15, 2020 10-K for FY2023, filed May 23, 2023Our marketing strategy focuses on meaningful interactions with practitioners and buyers by targeting software developers, operations…View ↗
Historically, our platform was sold on a subscription-based model. Since fiscal year 2021, we have been focused on shifting to a…View ↗
More self-service selling
The older report says it sold largely through a direct sales organization; the latest describes self-service for smaller accounts, with larger accounts moving to direct sales.
10-K for FY2020, filed May 15, 2020 10-K for FY2023, filed May 23, 2023We sell our products to businesses of all sizes largely through our direct sales organization, with our primary focus on larger accounts.…View ↗
Under our “land-and-expand” business model, our sales strategy is to rely on two primary distribution channels, self-serve and sales-led…View ↗
Who Did They Compete With?
Competes with Datadog, Dynatrace, Cisco Systems, Elastic, Splunk, International Business Machines, BMC Software, CA, Amazon Web Services, Microsoft, and Google
10-K for FY2023, filed May 23, 2023We operate in a highly competitive industry that is characterized by constant change and innovation. With respect to our unified…View ↗
Loading...
