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NEW RELIC, INC.

(NEWR)
  Report
Delayed Nyse  -  04:00 2022-11-29 pm EST
52.42 USD   -0.44%
11/29Transcript : New Relic, Inc. Presents at Credit Suisse 26th Annual Technology Conference, Nov-29-2022 02:20 PM
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11/29New Relic Releases Add-Ons for AWS Compute Optimizer, AWS Lambda Extensions, and AWS App Runner
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11/21Insider Sell: New Relic
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New Relic Adds AWS and Salesforce Executives to Leadership Roster

09/12/2022 | 10:01am EST

Former AWS executive Siva Padisetty to lead Telemetry Data Platform and Global Infrastructure teams; former Salesforce executive Tia Williams joins New Relic to lead design and product experience

New Relic (NYSE: NEWR), the observability company, announced the appointment of Siva Padisetty as SVP and GM, Telemetry Data Platform and Global Infrastructure and Tia Williams as GVP of Design and Product Experience. Padisetty joins New Relic from Amazon Web Services (AWS) where he served as GM of Management Tools. Williams joins New Relic from Salesforce where she served as Vice President of User Experience and Product Design. These appointments come on the heels of the announcement of former C3 AI and Microsoft executive David Barter as New Relic’s next CFO, and inclusion on Fortune’s Best Workplaces in Technology list for the company’s award-winning culture.

“Siva brings engineering excellence and strategic perspective to New Relic, having built and operated global services at the world’s largest public cloud provider, AWS,” said New Relic CEO Bill Staples. “Attracting such high caliber talent like Siva, Tia, and David puts us in a strong position to continue to drive innovation, create more customer value, and execute on our long-term strategy of putting the power of data in the hands of the world’s software engineers.”

“The power and potential offered by New Relic is unparalleled in the industry,” said Siva Padisetty, SVP and GM, Telemetry Data Platform and Global Infrastructure at New Relic. “It was an easy decision to join a company that holds data at the heart of everything they do, from unlocking data-driven engineering for software developers to using data to extract more value for customers to help them gain true visibility across their entire technology stack.”

Siva Padisetty, SVP and GM, Telemetry Data Platform and Global Infrastructure at New Relic

Padisetty joins New Relic as SVP and GM of the Telemetry Data Platform and Global Infrastructure. With two decades solving complex, large-scale distributed computing challenges, Padisetty is a seasoned executive and strong technical leader. He joined New Relic from AWS, where he served as the GM for Cloud Management and helped customers operate in AWS, on-premises (hybrid), and cross-clouds, specifically covering compliance, auditing, and automation/operations. While at AWS, he spearheaded AWS Systems Manager, an industry disrupting product that now manages over 10 million instances – the largest service in the world in its category. Prior to AWS, Padisetty spent eighteen years at Microsoft, where he worked in diverse technology stacks, including the low-level kernel mode device drivers and operating systems, backend databases, and web development to distributed cloud scale services. In the last five years, he led software engineering teams that built the management stack for PowerShell, Desired State Configuration, Server Manager, Windows Management Instrumentation (WMI), Group Policy, Windows Server Update Service (WSUS), and more. Padisetty holds a Master of Science of Computer Science and Bachelor of Science in Mechanical Engineering from Anna University.

Tia Williams, GVP of Design and Product Experience at New Relic

Williams joins New Relic as GVP of Design and Product Experience. Williams is a seasoned executive, joining New Relic from Salesforce where as VP, she led the Sales Cloud and Revenue Cloud user experience and strategy team, growing annual revenue 75% to $6B. Prior to Salesforce, she was the Head of the Oracle Cloud Infrastructure User and Developer Experience team of interaction designers, user researchers, design technologists, and program managers responsible for the strategy, execution, and governance of the OCI Cloud Console, plus over 100 SaaS, PaaS, and IaaS service plugins for the following portfolio areas: Compute, Networking, Storage, Containers and Functions, Machine Learning and AI, Oracle DB, Data Lakehouse, Application Integration, Developer Services, Open Source DB, Bare Metal, Security, Observability and Management, and Compliance. A graduate of the Georgia Institute of Technology in Atlanta, Williams began her 25+ year career in technology as a developer and transitioned into user experience with a targeted focus on providing exceptional value to customers. She is passionate about achieving diversity of thought in technology through intentional representation, and connecting the practice of experience design to business outcomes.

About New Relic

As a leader in observability, New Relic empowers engineers with a data-driven approach to planning, building, deploying, and running great software. New Relic delivers the only unified data platform that empowers engineers to get all telemetry—metrics, events, logs, and traces—paired with powerful full stack analysis tools to help engineers do their best work with data, not opinions. Delivered through the industry’s first usage-based consumption pricing that’s intuitive and predictable, New Relic gives engineers more value for the money by helping improve planning cycle times, change failure rates, release frequency, and mean time to resolution. This helps the world’s leading brands including adidas Runtastic, American Red Cross, Australia Post, Banco Inter, Chegg, GoTo Group, Ryanair, Sainsbury’s, Signify Health, TopGolf, and World Fuel Services (WFS) improve uptime, reliability, and operational efficiency to deliver exceptional customer experiences that fuel innovation and growth. www.newrelic.com.

Forward-looking statements

This press release contains “forward-looking” statements, as that term is defined under the federal securities laws, including but not limited to statements regarding the expected results of executive hires, anticipated creation of customer value, and our ability to execute on our strategic plans, including any anticipated benefits, results and future opportunities related thereto. The achievement or success of the matters covered by such forward-looking statements are based on New Relic’s current assumptions, expectations, and beliefs and are subject to substantial risks, uncertainties, assumptions, and changes in circumstances that may cause New Relic’s actual results, performance, or achievements to differ materially from those expressed or implied in any forward-looking statement. Further information on factors that could affect New Relic’s financial and other results and the forward-looking statements in this press release is included in the filings New Relic makes with the SEC from time to time, including in New Relic’s most recent Form 10-Q, particularly under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Copies of these documents may be obtained by visiting New Relic’s Investor Relations website at http://ir.newrelic.com or the SEC's website at www.sec.gov. New Relic assumes no obligation and does not intend to update these forward-looking statements, except as required by law.


ę Business Wire 2022
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Analyst Recommendations on NEW RELIC, INC.
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Financials (USD)
Sales 2023 915 M - -
Net income 2023 -169 M - -
Net cash 2023 87,3 M - -
P/E ratio 2023 -21,7x
Yield 2023 -
Capitalization 3 582 M 3 582 M -
EV / Sales 2023 3,82x
EV / Sales 2024 3,05x
Nbr of Employees 2 217
Free-Float 80,4%
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Mean consensus OUTPERFORM
Number of Analysts 15
Last Close Price 52,42 $
Average target price 67,18 $
Spread / Average Target 28,2%
EPS Revisions
Managers and Directors
William Staples Chief Executive Officer & Director
David Barter Chief Financial & Accounting Officer
Lewis Cirne Executive Chairman
Kristy Friedrichs Chief Operating Officer
Hope F. Cochran Vice Chairman & Lead Independent Director
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