New Relic (NEWR) Tops Q4 EPS by 18c, Revenues Beat; Offers 1Q & FY22 Revenues Guidance Above Consensus

May 13, 2021 4:07 PM EDT

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

New Relic (NYSE: NEWR) reported Q4 EPS of ($0.27), $0.18 better than the analyst estimate of ($0.45). Revenue for the quarter came in at $173 million versus the consensus estimate of $167.05 million.

Fourth Quarter Fiscal Year 2021 Financial Highlights:

  • Revenue of $173 million, compared to $160 million for the fourth quarter of fiscal 2020.
  • GAAP gross margin of 67% and non-GAAP gross margin of 69%.
  • GAAP loss from operations was $(54.3) million, compared to $(27.5) million for the fourth quarter of fiscal 2020.
  • Non-GAAP income (loss) from operations was $(18.5) million, compared to $3.5 million for the fourth quarter of fiscal 2020.
  • GAAP net loss attributable to New Relic per basic share was $(0.98), compared to $(0.47) per basic share for the fourth quarter of fiscal 2020.
  • Non-GAAP net income (loss) attributable to New Relic per diluted share was $(0.27), compared to $0.14 per diluted share for the fourth quarter of fiscal 2020.
  • Cash provided by operating activities was $28.5 million and free cash flow was $21.8 million for the fourth quarter of fiscal 2021.
  • Cash, cash equivalents and short-term investments were $816 million at the end of the fourth quarter of fiscal 2021, compared with $785 million at the end of the third quarter of fiscal 2021.
  • Remaining performance obligations were $727 million at the end of the fourth quarter of fiscal 2021, compared with $648 million at the end of the third quarter of fiscal 2021. This represents the aggregate unrecognized transaction price of remaining performance obligations as of each of March 31, 2021 and December 31, 2021.

“FY21 was a transformational year for New Relic, and we are a fundamentally better company entering FY22. The investments we’ve made in our product and platform, and our move to a consumption model, are resonating with the market as we’ve aligned our entire company around our customers and their success,” said Lew Cirne, founder and CEO, New Relic. "The time is ideal for me to hand over the reins to Bill to execute on our vision and strategy. It has been an honor and joy to serve as New Relic’s CEO for nearly fourteen years, and I look forward to continuing to serve as Executive Chairman. I couldn’t be more excited for our future under Bill’s leadership."

GUIDANCE:

New Relic sees Q1 2022 revenue of $172-174 million, versus the consensus of $169.31 million.

New Relic sees FY2022 revenue of $709-711 million, versus the consensus of $661.91 million.

First Quarter Fiscal 2022 Outlook:

  • Revenue between $172 million and $174 million, representing year-over-year growth of between 6% and 7%, respectively.
  • Non-GAAP loss from operations of between $(24) million and $(26) million.
  • Non-GAAP net loss attributable to New Relic per diluted share between $(0.37) and $(0.40).

Full Year Fiscal 2022 Outlook:

  • Revenue between $709 million and $711 million, representing year-over-year growth of approximately 6%.
  • Non-GAAP loss from operations of between $(53) million and $(55) million.
  • Non-GAAP net loss attributable to New Relic per diluted share between $(0.80) and $(0.83).

For earnings history and earnings-related data on New Relic (NEWR) click here.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Corporate News, Earnings, Guidance, Hot Guidance, Management Comments

Related Entities

Earnings