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sumo logic Sumo Logic Announces Second Quarter Fiscal 2022 Financial Results September 9 , 2021 Second quarter revenue grew 19 % year - over - year to $ 58.8 million Named a Visionary in the 2021 Gartner Magic Quadrant for Security Information and Event Management ( SIEM ) REDWOOD CITY , Calif . , Sept. 09 , 2021 ( GLOBE NEWSWIRE ) -- Sumo Logic ( Nasdaq : SUMO ) , a pioneer of continuous intelligence , today announced financial results for the second quarter of its fiscal 2022 , ended July 31 , 2021 . " This quarter we saw continued momentum in our business as new and current customers adopt our Continuous Intelligence platform for a broad range of Observability and Security use cases , " said Ramin Sayar , president and CEO of Sumo Logic . " We will continue to invest in platform expansion and expanded routes to market to position us to capture the significant opportunity created by digital transformation and cloud migration . " Second Quarter Fiscal 2022 Financial Highlights • Revenue was $ 58.8 million , an increase of 19 % year - over - year • Revenue , excluding our largest revenue customer , was $ 54.9 million , an increase of 21 % year - over - year • GAAP gross margin was 66 % ; non - GAAP gross margin was 72 % • GAAP operating loss was $ 32.9 million ; GAAP operating margin was ( 56 ) % • Non - GAAP operating loss was $ 12.4 million ; non - GAAP operating margin was ( 21 ) % • GAAP net loss was $ 32.0 million or $ 0.30 per share • Non - GAAP net loss was $ 11.5 million or $ 0.11 per share • Net cash used in operating activities was $ 4.5 million ; free cash flow was $ ( 5.6 ) million • Cash and cash equivalents and marketable securities were $ 371.7 million as of July 31 , 2021 Recent Highlights • Recognized as a Visionary in Gartner's 2021 Magic Quadrant for SIEM , which positions vendors according to their ability to execute and the completeness of their vision . • Announced the general availability of Sumo Logic Cloud SOAR to help enterprises modernize the security operations center ( SOC ) . Sumo Logic Cloud SOAR improves SOC productivity , increases visibility , enhances incident response , and helps security professionals make insightful decisions . • Closed our acquisition of Sensu , Inc. ( Sensu ) , a leader in open source monitoring . The addition of Sensu accelerates Sumo Logic's observability strategy by providing customers with an affordable and scalable end - to - end solution for infrastructure and application monitoring . Announced new capabilities as part of its Observability solution , including Real User Monitoring and Span Analytics , designed to help DevOps and site reliability engineer teams identify and resolve customer - impacting issues faster , reduce application downtime , and optimize application performance . Announced a partnership with SYNNEX , a leading distributor , to deliver a customizable cloud - native security practice leveraging Sumo Logic's Practice Builder program to enable customers to get real - time analytics and security insights into applications and infrastructure across their on - premises and cloud environments . Announced the availability of Sumo Logic's Continuous Intelligence Platform ™ M on Red Hat Marketplace , operated by IBM , allowing companies to purchase its cloud - native security and observability solutions that are running on the Red Hat OpenShift platform . • Announced the appointment of Margaret Francis to our Board of Directors . Francis brings deep experience leading product and engineering strategy for high growth software companies across SaaS , PaaS , data and developer technologies . Her expertise will help guide Sumo Logic's product and engineering strategy to further serve the DevSecOps market opportunity . Sumo Logic will host its 5th annual user conference , Illuminate , from September 28-29 , 2021 , a free virtual event . Illuminate is a premier global education user conference that brings together our customers with thought leaders in IT operations , development and operations , and security . Financial Outlook For the third quarter of fiscal 2022 , Sumo Logic expects : • Total revenue between $ 60.3 million and $ 61.3 million , representing 16 % to 18 % growth year over year • Revenue , excluding our largest revenue customer , between $ 56.1 million and $ 57.1 million , representing 17 % to 19 %