Free Research Report as New Relic’s Revenue Grew 33%
Stock Monitor: Verint Systems Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 21, 2017 / Active-Investors.com has just released a free earnings report on New Relic, Inc. (NYSE: NEWR). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=NEWR . The Company posted its financial results on November 07, 2017, for the second quarter of the fiscal year 2018. The Company's revenue and adjusted EPS surpassed analysts' expectations. Register today and get access to over 1000 Free Research Reports by joining our site below:
www.active-investors.com/registration-sg
Active-Investors.com is currently working on the research report for Verint Systems Inc. (NASDAQ: VRNT), which also belongs to the Technology sector as the Company New Relic. Do not miss out and become a member today for free to access this upcoming report at:
www.active-investors.com/registration-sg/?symbol=VRNT
Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, New Relic most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
www.active-investors.com/registration-sg/?symbol=NEWR
Earnings Highlights and Summary
For the three months ended September 30, 2017, New Relic's revenue increased 33% to $84.69 billion from $63.44 billion in Q2 FY17. The Company's revenue numbers surpassed analysts' expectations of $82.96 million.
During Q2 FY18, New Relic's gross profit increased 33.5% to $68.99 million from $51.66 million in the same period of last year. For the reported quarter, the Company's gross margin was on par with the 81% of revenue recorded in Q2 FY17. For the reported quarter, the Company's adjusted gross margin was also on par with the 83% of revenue recorded in Q2 FY17.
For the reported quarter, the Company's sales and marketing (S&M) costs were $47.2 million compared to $36.8 million in Q2 FY17. The increase was primarily due to personnel-related expenses.
For the reported quarter, New Relic's operating loss was $14.84 million compared to an operating loss of $14.29 million in Q2 FY17. For the reported quarter, New Relic's adjusted operating loss was $3.49 million compared to an operating loss of $4.94 million in Q2 FY17.
During Q2 FY18, New Relic's earnings before tax (EBT) was negative $14.50 million versus negative $14.19 million in the comparable period of last year.
For the reported quarter, New Relic's net loss was $14.69 million compared to a net loss of $14.13 million in Q2 FY17. During Q2 FY18, the Company's diluted earnings per share (EPS) was negative $0.27 compared to negative $0.28 in the corresponding period of last year. For the reported quarter, New Relic's adjusted net loss was $3.34 million compared to an adjusted net loss of $4.78 million in Q2 FY17. During Q2 FY18, the Company's adjusted diluted EPS was negative $0.06 compared to negative $0.09 in Q2 FY17, surpassing analysts' expectations of negative $0.09.
Balance Sheet
As on September 30, 2017, New Relic's cash and cash equivalents increased 25.4% to $110.72 million from $88.31 million as on March 31, 2017.
For the reported quarter, the Company's net accounts receivables decreased 36.3% to $39.51 million from $62.03 million in Q4 FY17. For the reported quarter, the Company's accounts payable decreased 25.9% to $4.83 million from $6.52 million in Q4 FY17.
During H1 FY18, the Company's net cash provided by operating activities increased 332.3% to $16.60 million from $3.84 million in the same period of last year. During H1 FY18, the Company's free cash flow was positive $721,000 versus negative $6.39 million in the comparable period of last year.
Outlook
For Q3 FY18, the Company expects revenue to be in the range of $88.3 million - $89.8 million, and adjusted diluted EPS to be in the band of negative $0.07 - negative $0.09.
For FY18, New Relic expects revenue to be in the range of $346.5 million - $349.5 million, and adjusted diluted EPS to be in the band of negative $0.21 - negative $0.22. The Company estimates capital expenditure to be in the range of $25 million - $28 million, and cash provided by operating activities to be in the band of $35 million - $40 million for the fiscal year 2018.
Stock Performance Snapshot
December 20, 2017 - At Wednesday's closing bell, New Relic's stock fell 2.21%, ending the trading session at $58.00.
Volume traded for the day: 381.20 thousand shares.
Stock performance in the last month – up 2.58%; previous three-month period – up 20.48%; past twelve-month period – up 106.41%; and year-to-date – up 105.31%
After yesterday's close, New Relic's market cap was at $3.15 billion.
The stock is part of the Technology sector, categorized under the Business Software & Services industry.
Active-Investors:
Active-Investors (A-I) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. A-I has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
A-I has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the "Author") and is fact checked and reviewed by a third-party research service company (the "Reviewer") represented by a credentialed financial analyst [for further information on analyst credentials, please email info@active-investors.com. Rohit Tuli, a CFA® charter-holder (the "Sponsor"), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by A-I. A-I is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
NO WARRANTY
A-I, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. A-I, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, A-I, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither A-I nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://active-investors.com/legal-disclaimer/.
CONTACT
For any questions, inquiries, or comments reach out to us directly. If you're a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Email: info@active-investors.com
Phone number: 73 29 92 6381
Office Address: 6, Jalan Kia Peng, Kuala Lumpur, 50450 Kuala Lumpur, Wilayah Persekutuan Kuala Lumpur, Malaysia
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Active-Investors