Investment Rating - The report assigns a "Buy" rating for the company, indicating an expected relative return of over 20% within the next six months [11]. Core Insights - The company reported total revenue of $328 million for FY24Q3, a year-over-year increase of 19%, slightly exceeding Bloomberg consensus expectations of $320 million. The net loss was $26 million, with a negative operating margin of 8%. Non-GAAP net profit was $43 million, with a Non-GAAP operating margin of 13% [1]. - Subscription revenue reached $308 million, up 20% year-over-year, surpassing Bloomberg's consensus of $299 million. Elastic Cloud revenue was $143 million, reflecting a 29% increase year-over-year, driven by customer interest and platform integration [1]. - The company is optimistic about future growth, with FY24Q4 total revenue guidance set at $328-330 million, representing an 18% year-over-year increase, aligning with Bloomberg consensus [3]. - The launch of ESQL has generated significant interest, with approximately 1,000 customers trialing the product since its introduction in November 2023, indicating a focus on enhancing product usability and market share [2]. Summary by Sections Financial Performance - FY24Q3 total revenue was $328 million, a 19% increase year-over-year, slightly above expectations. Non-GAAP net profit was $43 million, with an operating margin of 13% [1]. - Subscription revenue was $308 million, up 20% year-over-year, with Elastic Cloud revenue at $143 million, a 29% increase [1]. Product Innovation - The latest version, Elastic 8.12, includes enhancements for vector search and improved enterprise scalability, allowing customers to store four times the vectors in RAM and reducing query latency by 40% [4]. - New features in Elastic Observability and Elastic Security have been introduced, enhancing monitoring and alerting capabilities [4]. Future Outlook - The company expects total revenue for FY24 to be between $1.26 billion and $1.26 billion, reflecting an 18% year-over-year growth, consistent with market expectations [3]. - The focus on GenAI and platform integration is anticipated to drive business growth, with increasing customer interest in these areas [3].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________________________________________________________________________________________________________________ FORM ____________________________________________________________________________________________________________________10-Q ________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 ...

Elastic (ESTC) reported $327.96 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 19.4%. EPS of $0.36 for the same period compares to $0.17 a year ago.The reported revenue represents a surprise of +2.33% over the Zacks Consensus Estimate of $320.48 million. With the consensus EPS estimate being $0.31, the EPS surprise was +16.13%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stre ...

Elastic (ESTC) came out with quarterly earnings of $0.36 per share, beating the Zacks Consensus Estimate of $0.31 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 16.13%. A quarter ago, it was expected that this software developer would post earnings of $0.24 per share when it actually produced earnings of $0.37, delivering a surprise of 54.17%.Over the last four quarters, the compa ...

GAAP to Non-GAAP Reconciliations Gross Profit and Gross Margin Amortization of acquired intangibles 3 Custom Code: Train, engineer and deploy model Power of the Commercial Model Years of ML & AI Expertise Threat Intelligence Automated Alerting AI Assistant Generative AI applications ● Resource-based pricing model ←> Consumption-based subscriptions on Elastic Cloud ● Subscriptions generally 1 to 3 years, invoiced annually in advance ● Elastic Cloud also has month-to-month web-based self-service option Februa ...

Exhibit 99.1 Elastic Reports Third Quarter Fiscal 2024 Financial Results "Elastic delivered another strong quarter and I'm pleased with our momentum and execution that drove our third quarter results," said Ash Kulkarni, CEO, Elastic. "Customer interest in Generative AI, platform consolidation, and stability in cloud consumption patterns continued to drive momentum in our business in Q3. This reinforces our confidence in the business, and in our future growth as more companies choose our search analytics pl ...

SAN FRANCISCO--(BUSINESS WIRE)--Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch®, announced that its management will present at the Morgan Stanley Technology, Media & Telecom Conference on Wednesday, March 6, 2024 at 8:45 a.m. PT / 11:45 a.m. ET. A live webcast and replay of the event will be available on Elastic’s Investor Relations page at ir.elastic.co. About Elastic Elastic (NYSE: ESTC) is a leading platform for search-powered solutions. Elastic understands it’s the answers, not ju ...

Sorapop/iStock via Getty Images Investment Thesis Elastic (ESTC) specializes in search analytics, offering a platform that allows businesses to swiftly search and analyze extensive datasets in real time. The stock had gone largely nowhere for a prologue period post-pandemic. But of late, on the back of its strong improvements in profitability, the stock is now once more attractive. According to my estimates, in fiscal 2025 (starting in May 2024) Elastic's underlying profitability will meaningfully increase ...

Shares of Elastic (ESTC 4.12%) rose 40.2% in December 2023, according to data from S&P Global Market Intelligence. The Dutch-American expert in enterprise data search and related functions posted a terrific earnings report at the end of November. Elastic's stock closed 37.1% higher the next day -- and hasn't looked back from its newfound plateau.The fuel for Elastic's December firesThe company's Elasticsearch data search and analytics platform gained 200 new customers in the second quarter of fiscal year 20 ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________________________________________________________________________________________________________________ FORM ____________________________________________________________________________________________________________________10-Q ________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 ...