"Intangible assets" are assets with a high value but no physical presence that provide a business with long-term financial value. Identifiable intangible assets are those that can be priced, sold separately from other assets, and sold by the corporation. Examples of identifiable intangible assets include intellectual property, such as patents, trademarks, and copyrights, as well as non-cash government grants, such as broadcasting licenses or airport landing rights. A trademark is a sign that can be used to separate one company's products or services from those of other businesses. Trademarks are protected under intellectual property laws. Intangible assets are capitalized at fair value as of the date of acquisition rather than cost when acquired separately.
New Relic’s gross value of intangible assets surged from $20.11 million in FY2021 to $27.50 million in FY2022, an increase of 29.60%. In FY2022, the company's net value of intangible assets was $15.63 million. Intangible assets and goodwill totaling $7.38 million and $19.42 million, respectively, have received a majority of the $26.8 million purchase consideration. The company's amortization expense for intangible assets was $11.86 million in FY2022.
The company's total assets increased by $29.04 million, from $1,398 million in FY2021 to $1,427 million in FY2022. The increase is primarily the result of an increase in Goodwill of $19.42 million and an increase in Accounts receivables of $52.15 million.
For the three-month period ended March 31, 2022, it had 1,099 Active Customer Accounts with trailing 12-month revenue. New Relic intends to grow its businesses and extend the use of its platform, as though sometimes users create multiple customer accounts with them for operational or other reasons.
New Relic Inc (New Relic) operates as a software analytics company that provides cloud-based application performance management solutions for cloud and data center applications. The company offering software product platform includes application monitoring, infrastructure monitoring, kubernetes and pixie, log management, network monitoring, browser monitoring, mobile monitoring, vulnerability management, explorer, and open telemetry, among others. New relic platform services comprise digital customer experiences, tool consolidation and cloud adoption. It serves various industries such as e-commerce, retail, healthcare, media and entertainment, non-profit an public sector. The company has its operations in Ireland, Spain, Switzerland, France, Germany and the US. New Relic is headquartered in San Francisco, California, the US.
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