Shares of New Relic are up 7% in after-hours trading to $US35 after beating Wall Street consensus on its second-ever quarterly earnings report since it became a public company in December.
New Relic generated $US33.4 million in revenue but posted an adjusted net loss of 22 cents per share in the last quarter. The results were better than the average analyst estimate of $US30.29 million in revenue and a loss of 25 cents per share.
For the entire 2015 fiscal year, which just ended for New Relic, the company generated $US111.39 million in revenue, beating analyst estimates of $US107.29 million, and up 74% from FY 2014, New Relic says in a press release.
New Relic makes application performance monitoring software that helps developers monitor and maintain their software with in-depth data, which is especially important when hosting them with big cloud providers like Amazon Web Services or Microsoft Azure.
The company raised more than $US100 million in a December IPO that valued the company at $US23 a share.
Over the last year, New Relic has invested in its product, adding new features and nabbing new customers like Panasonic Europe and Weight Watchers.