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July 28, 2015 4:59 PM ET

Internet Software and Services

Company Overview of New Relic, Inc.

Company Overview

New Relic, Inc., a software-as-a-service company, provides software analytics products worldwide. The company’s cloud-based platform and suite of products enables organizations to collect, store, and analyze massive amounts of software data in real time. It provides New Relic Application Performance Management that offers visibility into the performance and usage of server-based applications, such as data pertaining to response time, transaction throughput, error rates, top transactions, and user satisfaction; New Relic Mobile, which provides code-level visibility into the performance and health of mobile applications running on the iOS and Android mobile operating systems; and New Relic Ser...

188 Spear Street

Suite 1200

San Francisco, CA 94105

United States

Founded in 2007

661 Employees

Phone:

650-777-7600

Key Executives for New Relic, Inc.

Founder, Chief Executive Officer and Director
Age: 45
Total Annual Compensation: $300.0K
President and Chief Operating Officer
Age: 53
Total Annual Compensation: $300.0K
Chief Financial Officer
Age: 50
Total Annual Compensation: $300.0K
Compensation as of Fiscal Year 2015.

New Relic, Inc. Key Developments

New Relic, Inc. Enters into Lease with Pacific Mission Corporation

New Relic, Inc. entered into a lease with Pacific Mission Corporation dated as of June 17, 2015 with respect to office space within the building that is located at 123 Mission Street, San Francisco, California. Subject to the Landlord’s timely delivery of possession of the Premises, the term of the Lease commences on November 1, 2015 and expires on October 31, 2023. Under the Lease, the company will initially lease approximately 14,067 square feet of the Building on the commencement date of the Lease and then lease an additional approximately 42,201 square feet of the Building on June 1, 2016, which Premises will constitute approximately 56,268 square feet of total leased space in the Building. Subject to the terms and conditions of the Lease, the company will lease the Premises until the conclusion of the Term; provided, the company has the right to renew the Lease for one additional period of five years. The company also has a right of first offer to lease up to an aggregate of approximately 28,000 square feet of additional office space in the Building. Under the Lease, the company will pay monthly base rent amounts for the Phase I Space, which will range from approximately $73,000 to $90,000 during the initial Term, as well as monthly base rent amounts for the Phase II Space, which will range from approximately $225,000 to $268,000 for the portion of the initial Term the company leases the Phase II Space. For the portion of the Term following the 2016 calendar year, the Lease also provides that the company will be responsible for its proportionate share of any increases in operating expenses and real property taxes incurred for the Building and real property over the operating expenses and taxes incurred for the Building and real property during the 2016 calendar year. The Landlord has agreed to provide the company with a construction allowance of approximately $2.25 million. The company will also be obligated to deliver to the Landlord a letter of credit with an initial amount of $3.4 million, which the Landlord may draw upon to cure any default by the company under, or breach by the company of, the Lease, as well as any damages the Landlord incurs as a result thereof.

New Relic Names Yvonne Wassenaar as Chief Information Officer, Effective July 05, 2015

New Relic named Yvonne Wassenaar as chief information officer, effective July 05, 2015.

New Relic, Inc. Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2015; Provides Earnings Guidance for the First Quarter of 2016 and Full Year 2016

New Relic, Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended March 31, 2015. For the quarter, the company reported revenue of $33,388,000 against $19,843,000 a year ago. Loss from operations was $14,692,000 against $9,505,000 a year ago. Loss before income taxes was $14,806,000 against $9,755,000 a year ago. Net loss was $14,825,000 against $9,755,000 a year ago. Net loss per share attributable to common stockholders, basic and diluted was $0.32 against $0.62 a year ago. Non-GAAP operating loss was $10,194,000 against $6,538,000 a year ago. Non-GAAP net loss attributable to common stockholders was $10,327,000 or $0.22 per basic and diluted share against $6,788,000 or $0.18 per basic and diluted share a year ago. For the full year, the company reported revenue of $110,391,000 against $63,174,000 a year ago. Loss from operations was $49,916,000 against $39,436,000 a year ago. Loss before income taxes was $50,234,000 against $40,225,000 a year ago. Net loss was $50,149,000 against $40,225,000 a year ago. Net loss per share attributable to common stockholders, basic and diluted was $1.98 against $2.58 a year ago. Net cash used in operating activities was $13,621,000 against $20,713,000 a year ago. Purchases of property and equipment were $12,628,000 against $9,758,000 a year ago. Capitalized software development costs were $9,017,000 against $5,199,000 a year ago. Non-GAAP operating loss was $36,178,000 against $28,027,000 a year ago. Non-GAAP net loss attributable to common stockholders was $36,411,000 or $0.85 per basic and diluted share against $28,816,000 or $0.78 per basic and diluted share a year ago. For the first quarter of fiscal 2016, the company expected revenue between $34.5 million and $35.5 million, representing year-over-year growth of between 53% and 57%, non-GAAP loss from operations of between $11.0 million and $12.0 million and non-GAAP net loss per share of between $0.23 and $0.26. This assumes 47.3 million non-GAAP weighted average common shares outstanding. For the fiscal 2016, the company expected revenue between $155.0 million and $159.0 million, representing year-over-year growth of between 40% and 44%, non-GAAP loss from operations of between $46.0 million and $50.0 million and non-GAAP net loss per share of between $0.95 and $1.03. This assumes 49.0 million non-GAAP weighted average common shares outstanding. The company continue to expect gross margins to moderate in the near term and range around 79% to 80% in fiscal 2016 as the company invests to support recent product releases.

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