Sumo Logic, Inc.

sumologic.com

No Longer Reporting

The company has not filed an annual or quarterly report since its FY2023 10-K, filed Mar 16, 2023. Its latest SEC filing is a SC 13G/A from Feb 12, 2024.

The sections below describe the company as of the FY2023 annual report.

What Did They Do?

Provides cloud-based analytics software that helps businesses monitor application reliability, detect security threats, and understand their cloud infrastructure.

How Did They Make Money?

Customers buy subscriptions for access to the platform, with revenue earned evenly over the subscription term, generally one to two years and sometimes three years or longer; premium support is an optional subscription.

FY2023 revenue

Who Were Their Customers?

Customers range from small and medium-sized businesses to large companies, including cloud-native organizations and those undergoing digital transformation. They buy through direct sales, resellers and channel partners, or the self-service website.

Did Revenues Turn Into Profits?

No. It lost $124.8M in FY2023.

Operating income, FY2023

−42% of revenue

▲ +5% (Loss) vs FY2022 (−$121.3M, −50%)

Net income, FY2023

−42% of revenue

▲ +1% (Loss) vs FY2022 (−$123.4M, −51%)

Free cash flow, FY2023

−9% of revenue

▼ −15% (Loss) vs FY2022 (−$32.7M, −14%)

How Were They Changing?

Since the FY2023 annual report

May 15, 2023 Francisco Partners completed its acquisition of Sumo Logic The company's shares ceased trading and were no longer listed on Nasdaq.

Grew. Revenue grew 2.9x in 4 years, from $103.6M in FY2019 to $300.7M in FY2023, about 31% a year.

Who Did They Compete With?

Competes with Splunk, Elastic, Datadog, New Relic, AWS, Azure, and GCP

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