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Press Release: New Relic Announces Third Quarter -5-

· 02/04/2021 16:05
CONTACT: InvestorsPlus: Transaction costs related to acquisition 885 251 885 251 Plus: Amortization of stock-based compensation capitalized in software development costs 339 219 843 653 Plus: Lawsuit litigation cost and other expense 217 - 254 1,521 Plus: Employer payroll tax on employee equity incentive plans 461 382 2,120 1,686 ------------ ------------ ------------ ------------ Non-GAAP income (loss) from operations $ (8,394) $ 3,001 $ 6,117 $ 21,534 ============ ============ ============ ============ GAAP operating margin (29)% (16)% (24)% (13)% Non-GAAP adjustments 24% 18% 23% 18% ------------ ------------ ------------ ------------ Non-GAAP operating margin (5)% 2% (1)% 5% ============ ============ ============ ============ Reconciliation of net income (loss): ---------------- GAAP net loss attributable to New Relic $ (53,626) $ (27,195) $ (130,933) $ (60,978) Plus: Stock-based compensation expense 36,469 25,950 103,044 70,496 Plus: Lease exit costs and accelerated depreciation expense - - - 3,641 Plus: Amortization of purchased intangibles 1,277 415 3,829 1,295 Plus: Transaction costs related to acquisition 885 251 885 251 Plus: Amortization of stock-based compensation capitalized in software development costs 339 219 843 653 Plus: Lawsuit litigation cost and other expense 217 - 254 1,521 Plus: Employer payroll tax on employee equity incentive plans 461 382 2,120 1,686 Plus: Amortization of debt discount and issuance costs 5,622 5,314 16,632 15,718 Less: Gain on lease modification - - - (3,006) ------------ ------------ ------------ ------------ Non-GAAP net income (loss) attributable to New Relic $ (8,356) $ 5,336 $ (3,326) $ 31,277 ============ ============ ============ ============ Non-GAAP net income (loss) attributable to New Relic per share: Basic $ (0.14) $ 0.09 $ (0.05) $ 0.54 Diluted $ (0.14) $ 0.09 $ (0.05) $ 0.52 Shares used in non-GAAP per share calculations: Basic 61,209 58,733 60,562 58,352 Diluted 61,209 60,358 60,562 60,299 Reconciliation of GAAP Cash Flows from Operating Activities to Free Cash Flow (In thousands; unaudited) Three Months Ended December Nine Months Ended 31, December 31, --------------------------- ------------------------- 2020 2019 2020 2019 ----------- -------------- ----------- ------------ Net cash provided by (used in) operating activities $ (6,673) $ (13,838) $ 41,385 $ 31,666 Capital expenditures (3,158) (18,135) (15,799) (49,705) Capitalized software development costs (2,896) (1,410) (9,739) (4,463) ----------- -------------- ----------- ------------ Free cash flow (Non-GAAP) $ (12,727) $ (33,383) $ 15,847 $ (22,502) =========== ============== =========== ============ Net cash used in investing activities $ (59,987) $ (52,514) $ (132,868) $ (103,079) Net cash provided by financing activities $ 982 $ 2,923 $ 10,126 $ 12,888

View source version on businesswire.com: https://www.businesswire.com/news/home/20210204006036/en/

Peter Goldmacher

New Relic, Inc.

503-336-9280

IR@newrelic.com

Media

Andrew Schmitt

New Relic, Inc.

415-869-7109

PR@newrelic.com

(END) Dow Jones Newswires

February 04, 2021 16:05 ET (21:05 GMT)