It’s earnings season, which puts a bright light on newly and recently public technology firms’ performances. Given that 2015 is widely expected to be an active year for IPOs, how are the new kids doing?
Let’s take a look at New Relic, the most recently public; MobileIron, the middle child; and King, which, of the three, has been public the longest.
New Relic
Today is New Relic’s first-ever report as a public company. It turned in the following report card: Revenue of $29 million, GAAP losses of $15.6 million and adjusted losses of $11.8 million, the latter two resulting in earnings-per-share losses of $0.70 and $0.28, respectively. The company’s revenue grew 69 percent compared to the year-ago quarter.
The street had expected New Relic to report an adjusted loss of $0.37 on revenue of $26.11 million. The company anticipates revenue of $30 million to $30.5 million in the current quarter, and a non-GAAP loss of $11 million to $12 million, losing between $0.23 and $0.25 per share. Analysts previously expected revenue of $28.2 million and an adjusted loss of $0.27.
New Relic is up 6 percent in after-hours trading after its earnings and profit beat.
Update: I chatted with the company after its earnings call, and we reached the stunning consensus that it was a good quarter. I asked why the company is forecasting very modest sequential quarter growth, but was mostly rebuffed
Let’s take a look at New Relic, the most recently public; MobileIron, the middle child; and King, which, of the three, has been public the longest.
New Relic
Today is New Relic’s first-ever report as a public company. It turned in the following report card: Revenue of $29 million, GAAP losses of $15.6 million and adjusted losses of $11.8 million, the latter two resulting in earnings-per-share losses of $0.70 and $0.28, respectively. The company’s revenue grew 69 percent compared to the year-ago quarter.
The street had expected New Relic to report an adjusted loss of $0.37 on revenue of $26.11 million. The company anticipates revenue of $30 million to $30.5 million in the current quarter, and a non-GAAP loss of $11 million to $12 million, losing between $0.23 and $0.25 per share. Analysts previously expected revenue of $28.2 million and an adjusted loss of $0.27.
New Relic is up 6 percent in after-hours trading after its earnings and profit beat.
Update: I chatted with the company after its earnings call, and we reached the stunning consensus that it was a good quarter. I asked why the company is forecasting very modest sequential quarter growth, but was mostly rebuffed
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