New Relics Lew Cirne - observability platforms arent optional if software matters to you (as the Iowa Democratic Caucus just found out...)
Summary
New Relic released its latest quarterly numbers yesterday as the fallout from the voting app failure in the Democratic Caucus in Iowa was unfolding. That story dovetailed nicely into CEO Lew Cirne making the case for what his firm stands for: In 2012, New Relic was the software that saved healthcare.gov. Cirne pointed to this growth in his remarks on the post-results conference call: Today, over 45% of our 100k customers have four or more paid products, up from roughly 17% from the end of fiscal year ’17. Case in point during the quarter - a large video conferencing company agreed to standardize on New Relic across APM infrastructure and logs. There’s no doubt that New Relic had a bumpy ride on Wall Street over the past 24 hours, but all growth firms do at some points in their expansion as more short term investor instincts kick in at the first hint of disappointment.