New Relic is starting to make inroads with major cloud providers as a way to promote its monitoring platform. Specifically, the company announced new integrations for Amazon Web Services (AWS) so its customers can see the exact cost of running their applications and infrastructure on the public cloud. New Relic also expects to see future integrations with cloud services from Azure, Google, IBM, and Pivotal.
“It’s been a theme over the last several quarters we’ve been talking about how our focus on the enterprise is really starting to bear fruit,” said Lewis Cirne, New Relic founder and CEO during the company’s earnings call, according to a Seeking Alpha earnings transcript.
The company’s platform, which now includes monitoring of infrastructure in addition to applications, has resulted in several customer wins including Alaska Airlines, Pfizer, HSBC, Texas Instruments, and Chelsea Football Club.
“We continue to see our enterprise customers adopt multicloud strategies, running different services and applications on multiple cloud infrastructure platforms, and we want to make it dead simple for our customers to use New Relic to monitor workloads in the cloud,” Cirne said during the call.
Running the Numbers
For the company’s first quarter fiscal 2018, New Relic reported revenues of $80.1 million — a 37 percent increase year-over-year — and a 9 percent increase compared to last quarter. This is higher than the company’s own guidance from last quarter, which was between $77 million and $78.5 million.
GAAP net loss for the first quarter of fiscal 2018 was $0.30 per share, compared to $0.36 per share during the same period last year. Non-GAAP net loss per share was $0.09 for the first quarter of fiscal 2018, compared to $0.20 for the same quarter last year.
The company anticipates revenues in the second quarter of fiscal 2018 to be between $81.8 million and $83.3 million, representing year-over-year growth of between 29 percent and 31 percent.