Core Viewpoint - Kirby McInerney LLP is investigating potential claims against Elastic N.V. regarding possible violations of federal securities laws and unlawful business practices following a significant decline in share price after the company's financial results announcement [1]. Financial Performance - On August 29, 2024, Elastic reported its financial results for the first quarter ending July 31, 2024, and revised its annual revenue guidance, citing a slower start to the year due to customer commitment volume being affected by segmentation changes [1]. - The company's share price fell by $27.45, or approximately 26.49%, from $103.64 on August 29, 2024, to close at $76.19 on August 30, 2024, following the announcement [1].

NEW YORK, Sept. 09, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising -- Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Elastic N.V. ("Elastic" or "the Company") (NYSE: ESTC). Investors who purchased Elastic securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/ESTC. Investigation Details On August 29, 2024, Elastic announced its first-quarter financial results. Elastic also revised its ann ...

LOS ANGELES, Sept. 9, 2024 /PRNewswire/ -- The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Elastic N.V. ("Elastic" or "the Company") (NYSE: ESTC) for violations of the securities laws. The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. Elastic announced its first quarter financial results on August 29, 2024. The Company ...

Core Viewpoint - Elastic N.V. has faced significant challenges in its financial performance, leading to a drastic reduction in revenue guidance for the fiscal year 2025, which has resulted in a sharp decline in its stock price [2]. Financial Performance - On August 29, 2024, Elastic reported its financial results for the first quarter of fiscal 2025, which ended on July 31, 2024, and announced a reduction in its revenue guidance for the full year [2]. - The company's CEO indicated that the slower start to the year was due to changes in customer segmentation, which have taken longer than anticipated to stabilize [2]. - Following the announcement, Elastic's share price dropped over 25%, from $103.64 per share to $76.19 per share within a single trading day [2]. Market Reaction - The announcement of reduced revenue guidance prompted a series of downgrades from market analysts, reflecting a negative sentiment towards the company's future performance [2].

NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Elastic N.V. ("Elastic" or the "Company") (NYSE: ESTC) on behalf of Elastic stockholders. Our investigation concerns whether Elastic has violated the federal securities laws and/or engaged in other unlawful business practices. Click here to participate in the action. On August 30, 2024, Elastic announced that it was reducing its revenue fore ...

Revenue and Growth - For the three months ended July 31, 2024, subscription revenue accounted for 93% of total revenue, compared to 92% for the same period in 2023[82] - Elastic Cloud contributed 45% of total revenue for the three months ended July 31, 2024, up from 41% in the same period of 2023[85] - Subscription revenue increased by $53.5 million, or 20%, for the three months ended July 31, 2024, compared to the same period of the prior year[107] - Elastic Cloud adoption grew 30% over the prior year, increasing its contribution to 45% of total revenue for the three months ended July 31, 2024, up from 41% in the same period of 2023[107] - Total revenue for the three months ended July 31, 2024, was $347,420 thousand, an increase of $53,667 thousand, or 18%, compared to $293,753 thousand for the same period in 2023[107] Customer Metrics - The number of customers increased to approximately 21,200 as of July 31, 2024, compared to approximately 20,500 as of July 31, 2023[83] - The number of customers with annual contract value (ACV) greater than $100,000 rose to over 1,370 as of July 31, 2024, from over 1,190 in 2023[83] - The Net Expansion Rate was approximately 112% as of July 31, 2024[87] Financial Performance - Total cost of revenue increased by $14,280 thousand, or 18%, for the three months ended July 31, 2024, totaling $91,757 thousand compared to $77,477 thousand in the prior year[108] - Gross profit for the three months ended July 31, 2024, was $255,663 thousand, reflecting an increase of $39,387 thousand, or 18%, from $216,276 thousand in the same period of 2023[108] - The net loss for the three months ended July 31, 2024, was $49,227 thousand, compared to a net loss of $48,508 thousand for the same period in 2023[96] Expenses - Research and development expenses for the three months ended July 31, 2024, were $89,332 thousand, up from $80,690 thousand in the prior year[96] - Sales and marketing expenses increased to $157,357 thousand for the three months ended July 31, 2024, compared to $133,169 thousand in the same period of 2023[96] - General and administrative expenses rose to $42,673 thousand for the three months ended July 31, 2024, compared to $37,939 thousand in the prior year[96] - Research and development expenses increased by $8.6 million, or 11%, to $89.3 million for the three months ended July 31, 2024, compared to the same period last year[109] - Sales and marketing expenses rose by $24.2 million, or 18%, to $157.4 million for the three months ended July 31, 2024, driven by increases in personnel and related costs[110] - General and administrative expenses increased by $4.7 million, or 12%, to $42.7 million for the three months ended July 31, 2024, primarily due to higher personnel costs[111] - Restructuring and other related charges decreased by $0.6 million, or 81%, to $0.1 million for the three months ended July 31, 2024, reflecting lower severance and termination benefit charges[112] Tax and Other Income - Provision for income taxes rose by $6.8 million, or 51%, to $20.1 million for the three months ended July 31, 2024, influenced by growth in taxable income[115] - Other income, net increased by $3.9 million, or 54%, to $11.2 million for the three months ended July 31, 2024, mainly due to higher investment income[114] Cash Flow and Financial Position - Net cash provided by operating activities was $52.8 million for the three months ended July 31, 2024, compared to $37.8 million for the same period last year[120] - Net cash used in investing activities was $3.5 million for the three months ended July 31, 2024, down from $55.1 million in the prior year[121] - Net cash provided by financing activities was $4.7 million for the three months ended July 31, 2024, consistent with proceeds from stock option exercises[122] - As of July 31, 2024, the company had cash, cash equivalents, and marketable securities totaling $1.147 billion[116] Foreign Currency and Risk Management - The company has recognized foreign currency transaction losses of $0.2 million and $0.7 million for the three months ended July 31, 2024 and 2023, respectively[127] - A 10% increase or decrease in exchange rates as of July 31, 2024, would have impacted the company's cash, cash equivalents, restricted cash, and marketable securities balances by approximately $8.5 million[127] - As of July 31, 2024, the company's cash, cash equivalents, restricted cash, and marketable securities were primarily denominated in U.S. dollars, Euros, and British Pound Sterling[127] - The company has not had a formal hedging program for foreign currency but may adopt one in the future if exposure increases[127] Management and Legal Matters - There were no changes in internal control over financial reporting that materially affected the company during the quarter ended July 31, 2024[129] - The company's management believes that its disclosure controls and procedures are effective at providing reasonable assurance of achieving their objectives[130] - The company is not currently a party to any legal proceedings that would materially affect its business or financial condition[132] - Future litigation may be necessary to defend the company’s proprietary rights, which could have an adverse impact due to costs and resource diversion[132]

Core Insights - Elastic (ESTC) reported revenue of $347.42 million for the quarter ended July 2024, reflecting an 18.3% increase year-over-year, with EPS at $0.35 compared to $0.25 in the same quarter last year [1] - The revenue exceeded the Zacks Consensus Estimate of $344.4 million by 0.88%, and the EPS surpassed the consensus estimate of $0.25 by 40% [1] Revenue Breakdown - Revenue from Services was $23.65 million, slightly below the estimated $24.77 million, marking a year-over-year increase of 0.6% [3] - Subscription revenue reached $323.77 million, exceeding the average estimate of $319.67 million, with a year-over-year growth of 19.8% [4] - Elastic Cloud subscription revenue was $157.28 million, surpassing the estimate of $155 million, representing a significant year-over-year increase of 29.8% [5] - Other subscription revenue totaled $166.49 million, compared to the average estimate of $164.66 million, showing an 11.7% year-over-year change [6] Stock Performance - Over the past month, Elastic's shares have declined by 6.1%, while the Zacks S&P 500 composite increased by 2.6% [6] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [6]

Elastic (ESTC) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 40%. A quarter ago, it was expected that this software developer would post earnings of $0.19 per share when it actually produced earnings of $0.21, delivering a surprise of 10.53%. Over the last four quarters, the company ...

Elastic N.V. (ESTC) is scheduled to release its first-quarter fiscal 2025 results on Aug. 29, after market close. ESTC outpaced the Zacks Consensus Estimate in the trailing four quarters, delivering an earnings surprise of 52%, on average. Q1 Expectations for Elastic The Zacks Consensus Estimate for ESTC's revenues is pegged at $1.5 billion, suggesting a 16.4% increase from the year-ago quarter's actual.Elastic's strategy to focus on customer-centric growth is expected to have aided the top line. Cost consc ...

Wall Street analysts expect Elastic (ESTC) to post quarterly earnings of $0.25 per share in its upcoming report, which indicates no change from the year-ago quarter. Revenues are expected to be $344.4 million, up 17.2% from the year-ago quarter. Over the past 30 days, the consensus EPS estimate for the quarter has remained unchanged. This demonstrates the covering analysts' collective reassessment of their initial projections during this period. Prior to a company's earnings release, it is of utmost importa ...