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New Relic (NEWR) Q4 2021 Earnings Call Transcript

Operator Good afternoon, everyone, and welcome to the New Relic fourth-quarter and fiscal-year 2021 earnings conference call. [Operator instructions] We also note today s event is being recorded. At this time, I d like to turn the conference call over to Peter Goldmacher, vice president of investor relations. Sir, please go ahead. Peter Goldmacher Vice President of Investor Relations Thank you, operator. Good afternoon, everyone, and thanks for joining our Q4 fiscal 21 earnings call. We published a letter on our Investor Relations website about an hour ago, and we hope everyone s had a chance to read our letter, together with today s earnings press release. Because of the level of detail we provided across these two documents, today s call will begin with Lew providing brief opening remarks, and then we ll dive right into your questions.

All change at New Relic as founder Lew Cirne hands over CEO seat to the architect of the firm s new pricing strategy

All change at New Relic as founder Lew Cirne hands over CEO seat to the architect of the firm s new pricing strategy Read later Audio version Summary: The man credited with New Relic s shift to a new customer-friendly pricing model is taking up the reins to see there transition through. Cirne and Staples A change at the top for New Relic as founder Lew Cirne steps aside as CEO, replaced by Chief Product Officer Bill Staples. Cirne, who will stay on as Executive Chairman, said in a statement that this shift has been in mind since Staples joined the firm last year:

New Relic CEO Lew Cirne steps down, replaced by industry veteran Bill Staples

New Relic CEO Lew Cirne steps down, replaced by industry veteran Bill Staples SHARE Observability platform provider New Relic Inc. caused a bit of a stir today with the sudden announcement that Chief Executive Officer Lew Cirne is stepping down, to be replaced by software industry veteran Bill Staples. The news came as New Relic delivered fourth-quarter financial results that beat Wall Street’s expectations on earnings and revenue, though it had only limited growth to show for its efforts. New Relic sells application and DevOps monitoring tools that help developers detect problems with their software applications. It’s basically a monitoring service for apps that runs in real time, helping DevOps teams gain a full understanding of any issues that could affect the performance of their apps.

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