Sumo Logic, Inc. (SUMO) Bundle
A Brief History of Sumo Logic, Inc. (SUMO)
Founding and Early Years
Sumo Logic, Inc. was founded in 2010 by Lars Leckie, Ramin Sayar, and Mohammad Ali. The company is headquartered in San Francisco, California. Sumo Logic initially focused on providing cloud-based log management and analytics services.
Growth and Product Development
In 2012, Sumo Logic experienced significant growth, reporting an annual recurring revenue (ARR) of $10 million. The company's platform was instrumental in helping businesses analyze their data in real time.
By 2015, Sumo Logic had raised a total of $75 million in funding from notable investors including Intel Capital and Sequoia Capital.
Funding Rounds
| Funding Round | Date | Amount Raised | Investors |
|---|---|---|---|
| Series A | 2010 | $1.5 million | Sequoia Capital |
| Series B | 2012 | $15 million | Sequoia Capital, Intel Capital |
| Series C | 2015 | $75 million | ivp, Sequoia Capital |
| Series D | 2017 | $110 million | Strategic Investors |
| Series E | 2020 | $50 million | General Atlantic |
Public Offering
On September 17, 2020, Sumo Logic went public, trading under the ticker symbol SUMO. The company priced its initial public offering at $22 per share, raising approximately $326 million.
Financial Performance
For the fiscal year ended January 31, 2023, Sumo Logic reported:
- Revenue of $203.4 million
- Net loss of $52.8 million
- Annual Recurring Revenue (ARR) of $212 million
Market Position and Impact
As of 2023, Sumo Logic serves over 2,000 customers, including major enterprises such as Netflix and Samsung. The company operates in the competitive field of machine data analytics, where it continues to innovate and expand its offerings.
Recent Developments
In 2023, Sumo Logic expanded its product suite to include advanced security analytics and enhanced machine learning capabilities. This expansion aimed to address the growing demand for cloud-native security solutions.
Stock Performance
As of October 2023, shares of Sumo Logic are trading at approximately $13.50 per share, reflecting the company's ongoing adjustment to market conditions and investor sentiment.
Future Outlook
Market analysts project that the cloud-based log management and analytics market will grow significantly, with an expected CAGR of 25% from 2023 to 2028. Sumo Logic aims to capitalize on this growth by enhancing its platform and expanding its international market reach.
A Who Owns Sumo Logic, Inc. (SUMO)
Current Ownership Structure
The ownership structure of Sumo Logic, Inc. features a mix of institutional investors, retail investors, and company executives. As of the latest available data, the following table outlines the key shareholders:
| Shareholder Type | Ownership Percentage | Number of Shares | Value (Approx.) |
|---|---|---|---|
| Institutional Investors | 68.5% | 23,400,000 | $540 million |
| Insiders | 5.2% | 1,800,000 | $40 million |
| Retail Investors | 26.3% | 9,100,000 | $210 million |
Major Institutional Shareholders
Institutional investors play a significant role in the ownership of Sumo Logic. The following table highlights some of the major institutional shareholders:
| Institution | Ownership Percentage | Shares Owned | Value (Approx.) |
|---|---|---|---|
| The Vanguard Group | 10.0% | 3,500,000 | $80 million |
| BlackRock, Inc. | 9.5% | 3,300,000 | $75 million |
| Wellington Management | 7.8% | 2,700,000 | $60 million |
| Fidelity Investments | 6.2% | 2,200,000 | $50 million |
Executive Ownership
Company executives hold a minority stake in Sumo Logic. The following table details the stock ownership of key executives:
| Executive | Title | Shares Owned | Ownership Percentage |
|---|---|---|---|
| Ramin Sayar | CEO | 500,000 | 1.4% |
| Daniel Packer | CFO | 300,000 | 0.9% |
| Debbie M. Hurst | COO | 250,000 | 0.7% |
Recent Market Capitalization
The market capitalization of Sumo Logic, Inc. as of the most recent trading data is approximately $1.25 billion.
Share Price Performance
The stock price of Sumo Logic (ticker: SUMO) has shown variations. The latest trading data reflects the following:
| Date | Share Price | 52-Week High | 52-Week Low |
|---|---|---|---|
| October 20, 2023 | $22.50 | $25.00 | $15.50 |
Conclusion on Ownership Distribution
The ownership distribution of Sumo Logic indicates a healthy balance between institutional and retail investors, with significant stakes held by major institutions. The executive team retains a measurable percentage of shares, aligning their interests with shareholders.
Sumo Logic, Inc. (SUMO) Mission Statement
Company Overview
Sumo Logic, Inc. is a cloud-based machine data analytics company that specializes in log management and analytics. The company aims to provide real-time insights from data to improve operational visibility, security, and performance.
Mission Statement
Sumo Logic’s mission statement focuses on enabling organizations to harness the power of their data to drive efficiency, innovation, and success. The company emphasizes transforming data into actionable intelligence, supporting customers in their digital transformation journeys.
Core Values
- Innovation: Commitment to continuous improvement and cutting-edge technology.
- Integrity: Maintaining transparency and ethical practices with customers and partners.
- Collaboration: Fostering teamwork and partnerships to deliver superior results.
- Customer Centricity: Prioritizing customer needs and feedback in all aspects of operations.
Financial Performance Metrics
As of Q2 2023, Sumo Logic reported the following financial metrics:
| Metric | Value |
|---|---|
| Revenue | $68.6 million |
| Gross Profit Margin | 71% |
| Net Loss | $11.2 million |
| Annual Recurring Revenue (ARR) | $275 million |
| Customer Count | 2,400+ |
Market Position and Impact
Sumo Logic operates in a competitive landscape that includes other data analytics and management companies. As of October 2023, the company holds a significant market share in the cloud-native application performance monitoring (APM) and log management sectors.
Key Partnerships
Sumo Logic has established collaborations with various technology and business partners to enhance its service offerings, including:
- AWS (Amazon Web Services)
- Microsoft Azure
- Google Cloud Platform
- Salesforce
Future Goals
Going forward, Sumo Logic aims to expand its product capabilities, enhance machine learning features, and grow its global customer base. Key targets include:
| Goal | Target Year |
|---|---|
| Increase ARR to $500 million | 2026 |
| Expand customer base to 5,000+ | 2025 |
| Achieve profitability | 2024 |
Conclusion
Sumo Logic continues to refine its mission and operational strategies, focusing on providing exceptional data analytics solutions while maintaining a commitment to its founding values. The company’s performance metrics reflect its growth trajectory and ambitious plans for the future.
How Sumo Logic, Inc. (SUMO) Works
Overview of Sumo Logic
Sumo Logic, Inc. is a cloud-based machine data analytics platform that provides real-time insights into IT operations, logs, and security. The company operates primarily on a usage-based pricing model.
Key Financial Metrics
As of FY 2023, Sumo Logic reported the following financial performance indicators:
| Metric | Value |
|---|---|
| Annual Revenue | $165.5 million |
| Annual Growth Rate | 22% |
| Net Loss | ($31.7 million) |
| Operating Cash Flow | $5.2 million |
| Cash and Cash Equivalents | $95.4 million |
Business Model
Sumo Logic utilizes a subscription-based business model that includes:
- Cloud-based analytics services
- Predictive analytics for operational workloads
- Security and compliance solutions
Product Offerings
The company’s primary products include:
- Sumo Logic Cloud SIEM
- Sumo Logic Continuous Intelligence Platform
- Log Management & Analytics
Customer Base
Sumo Logic has a diverse customer portfolio across various industries:
| Industry | Number of Customers |
|---|---|
| Technology | 400+ |
| Financial Services | 150+ |
| Healthcare | 100+ |
| Retail | 80+ |
Market Position
Sumo Logic holds a competitive position in the market with notable statistics:
- Market share in the cloud analytics space: 10%
- Competitors include Splunk, Datadog, and Elastic
- Customer retention rate: 90%
Recent Developments
In 2023, Sumo Logic announced several key initiatives:
- Partnership with leading cloud service providers
- Launch of enhanced machine learning capabilities
- Expansion into international markets
Investment and Funding
Sumo Logic's funding history includes:
| Funding Round | Amount Raised | Year |
|---|---|---|
| Series F | $110 million | 2020 |
| IPO | $325 million | 2021 |
Future Outlook
Forecasts for Sumo Logic for FY 2024 indicate:
- Projected revenue: $200 million
- Expected growth rate: 20%
- Anticipated investment in R&D: $20 million
How Sumo Logic, Inc. (SUMO) Makes Money
Revenue Streams
Revenue Streams
Sumo Logic generates revenue primarily through its cloud-based analytics platform, which is utilized for machine data and application analytics. The key revenue streams include:
- Subscription Services
- Professional Services
Subscription Services
As of the fiscal year 2023, Sumo Logic reported total revenue of $184.4 million, with approximately 93% derived from subscription services. The subscription plans often include:
- Standard Tier
- Enterprise Tier
- Custom Tier
The average annual contract value (ACV) across customers in 2023 was around $20,000.
Customer Base
Sumo Logic serves over 2,500 customers globally, with about 40% classified as enterprise-level clients. The retention rate stood at 120%. Major clients include:
- Cloudflare
- Netflix
- Airbnb
Professional Services
In fiscal year 2023, Sumo Logic generated around $13 million in revenue from professional services which include:
- Implementation Services
- Training and Support Services
Market Expansion
In 2023, Sumo Logic expanded its market presence by launching new features and solutions. This includes enhancements in:
- Security Analytics
- Operational Analytics
- DevOps Solutions
The company’s investment in research and development in 2023 was approximately $30 million, a 16% increase compared to the previous year.
Geographical Revenue Distribution
Revenue by region for fiscal year 2023 was distributed as follows:
| Region | Revenue (in millions) | Percentage of Total Revenue |
|---|---|---|
| North America | $150.2 | 81% |
| Europe | $24.1 | 13% |
| Asia-Pacific | $10.1 | 6% |
Future Growth Projections
For the fiscal year 2024, Sumo Logic aims for a revenue target of approximately $210 million, representing a growth rate of 14% year-over-year. The company plans to achieve this through:
- Increasing customer acquisition
- Enhancing product offerings
- Expanding into emerging markets
Financial Performance Indicators
As of the end of fiscal year 2023, Sumo Logic reported the following financial indicators:
| Indicator | Value |
|---|---|
| Gross Profit Margin | 75% |
| Operating Loss | $38 million |
| Net Income | $-36 million |
| Cash and Cash Equivalents | $120 million |
Partnerships and Alliances
Sumo Logic has formed strategic partnerships with various tech companies to enhance its service offerings, including:
- Amazon Web Services (AWS)
- Microsoft Azure
- Google Cloud Platform
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