New Relic, Inc. (NEWR) stock soared 20.96% in the pre-market trading session at the price of $110.00 after reporting its financial results for the 2nd quarter of fiscal 2022.
NEWR enables engineers with a data-driven ability to plan, build, deploy, and run great software. It offers the only unified data program that allows engineers to get all telemetry paired with powerful full-stack analysis tools.
NEWR Q2 Fiscal 2022 Financial Results
On 8th November 2021, NEWR published its financial results for the 2nd quarter of the fiscal year 2022 and provided corporate updates.
Financial Highlights
For the Q2 of fiscal 2022, NEWR reported revenue of approximately $196 million. It represents a gain of 18% from $166 million in the Q2 of fiscal 2021. The gross margin was 67% for the Q2 of fiscal 2022. The company calculated an operating loss of $(47.0) million in the Q2 of fiscal 2022. For the Q2 of fiscal 2021, operating loss was $(42.9) million. For the Q2 of fiscal 2022, net loss attributable to NEWR was $(0.84) per basic and diluted share. Net loss per basic and diluted share was $(0.79) for the same quarter of fiscal 2021.
NEWR calculated cash from operating activities of $(37.0) million for the Q2 of fiscal 2022. For the Q2 of fiscal 2022, free cash flow was approximately $(40.8) million. As of 30th September 2021, cash and cash equivalents were roughly $784 million. Cash and cash equivalents totaled $817 million by the end of the first quarter of fiscal 2022.
NEWR Financial Outlook
For the third quarter of fiscal 2022, NEWR expects revenue to range from $198 million to $202 million. It represents a year-over-year gain of 19% to 22%. Loss from operations has expected to range from $(10) million to $(12) million for the third quarter of fiscal 2022. The company anticipates revenue to range from $778 million to $782 million for the full fiscal year 2022. It represents a rise of 16% to 17% from the full fiscal year 2021. NEWR expects a loss from operations to range from $(35) million to $(39) million for the full fiscal year 2022.
