Elastic N.V. (NYSE:ESTC) Q2 2024 Earnings Conference Call November 30, 2023 5:00 PM ET Company Participants Anthony Luscri - VP, IR Ashutosh Kulkarni - CEO Janesh Moorjani - CFO and COO Conference Call Participants Brent Thill - Jefferies Raimo Lenschow - Barclays Harshil Thakkar - Oppenheimer Pinjalim Bora - JPMorgan Brad Reback - Stifel Matthew Hedberg - RBC Capital Markets Yitchuin Wong - Citi Kash Rangan - Goldman Sachs Koji Ikeda - Bank of America Securities Rob Owens - Piper Sandler Andrew Nowinski - ...

Revenue and Growth - Elastic Cloud contributed 41% and 39% of total revenue for the three months ended July 31, 2023 and 2022, respectively[118] - Total revenue increased by $43.7 million (17%) to $293.8 million for the three months ended July 31, 2023, driven by a 17% growth in subscription revenue and a 29% increase in services revenue[143][144] - Subscription revenue grew by $38.4 million (17%) to $270.2 million, with Elastic Cloud revenue increasing 24% and accounting for 41% of total revenue[143] - Services revenue increased by $5.2 million (29%) to $23.5 million, attributed to higher adoption of the company's services offerings[144] - Elastic Cloud revenue as a percentage of total revenue increased to 41% in Q3 2023 from 39% in Q3 2022, reflecting continued growth in cloud adoption[143] Customer Base and Contracts - The company had approximately 20,500 customers as of July 31, 2023, compared to over 19,300 customers as of July 31, 2022[109] - The number of customers with annual contract value (ACV) greater than $100,000 was over 1,190 as of July 31, 2023, compared to over 1,010 as of July 31, 2022[110] - The company's Net Expansion Rate was approximately 113% as of July 31, 2023[123] Subscription and Cloud Services - Subscriptions accounted for 92% and 93% of total revenue for the three months ended July 31, 2023 and 2022, respectively[108] - Elastic Cloud subscriptions are primarily consumption-based, with the majority contracted in U.S. dollars[108] Financial Performance and Margins - Gross profit rose by $39.2 million (22%) to $216.3 million, with total gross margin improving from 71% to 74%[145] - Operating loss improved from $60.6 million to $36.2 million, with operating margin improving from -24% to -12%[139][141] - Net loss decreased from $69.6 million to $48.5 million, with net margin improving from -28% to -17%[139][141] Expenses and Costs - Cost of subscription revenue increased by $3.7 million (7%) to $57.3 million, primarily due to higher cloud infrastructure costs[145] - Research and development expenses increased by $2.0 million (3%) to $80.7 million, driven by higher personnel and cloud infrastructure costs[148] - Sales and marketing expenses grew by $8.2 million (7%) to $133.2 million, mainly due to increased personnel costs and travel expenses[149] - General and administrative expenses increased by $3.9 million, or 11%, primarily due to a $3.8 million increase in personnel and related costs, including $2.7 million in stock-based compensation and $1.0 million in salaries and related taxes[150] - Restructuring and other related charges of $0.7 million were recorded for employee-related severance and termination benefits, compared to no charges in the same period last year[151] Investments and Income - Other income, net increased by $7.0 million to $7.3 million, primarily due to a $7.2 million increase in investment income from marketable securities and money market funds[153] - As of July 31, 2023, the company had $957.1 million in cash, cash equivalents, and marketable securities, with a strong and diversified credit quality portfolio[157] - Net cash provided by operating activities was $37.8 million, driven by $81.8 million in non-cash charges and a $4.6 million net cash inflow from changes in operating assets and liabilities[161] - Net cash used in investing activities was $55.1 million, primarily due to the purchase of $83.6 million in marketable securities, offset by $29.1 million from maturities of marketable securities[163] - The company had $959.8 million in cash, cash equivalents, restricted cash, and marketable securities as of July 31, 2023, with minimal exposure to interest rate risk[169] Taxes and Provisions - Provision for income taxes increased by $10.4 million, or 365%, driven by growth in taxable income in certain jurisdictions and a one-time charge of $7.4 million for acquisition-related integration[154] - The company maintains a full valuation allowance against U.S. federal and state deferred tax assets, but anticipates potential recognition of these assets within the next 12 months if sustained profitability is achieved[155] Strategic Initiatives - The company plans to continue investing in new features and solutions for the Elastic Stack to drive growth[120] - Elastic's strategy includes converting free users of its software into paid subscribers to grow its customer base[121] Employee and Restructuring - The company had 2,995 employees as of July 31, 2023[112] - Elastic incurred $0.7 million in restructuring and other related charges during the three months ended July 31, 2023[114] Interest and Other Financials - Interest expense decreased slightly by $0.1 million, or 1%, compared to the same period last year[152]

Elastic N.V. (NYSE:ESTC) Q1 2024 Earnings Conference Call August 31, 2023 5:00 PM ET Company Participants Janice Oh - IR Ashutosh Kulkarni - CEO Janesh Moorjani - CFO and COO Conference Call Participants Tyler Radke - Citi Koji Ikeda - Bank of America Jacob Roberge - William Blair Matt Swanson - RBC Capital Markets Raimo Lenschow - Barclays Stephen Schwartz - Wells Fargo Bo Yin - Jefferies Ethan Weeks - Piper Sandler Kingsley Crane - Canaccord Shrenik Kothari - Baird Operator Good day and welcome to the Ela ...

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

Elastic N.V. (NYSE:ESTC) Q4 2023 Earnings Conference Call June 1, 2023 5:00 PM ET Company Participants Nikolay Beliov - Vice President of Investor Relations Ashutosh Kulkarni - Chief Executive Officer Janesh Moorjani - Chief Financial Officer and Chief Operating Officer Conference Call Participants Matthew Hedberg - RBC Capital Markets LLC Tyler Radke - Citigroup Inc. Koji Ikeda - Bank of America Merrill Lynch Pinjalim Bora - JPMorgan Chase & Co. Harshil Thakkar - Oppenheimer & Co. Shrenik Kothari - Robert ...

21 Customers adopt more solutions Customers adopt more use cases Distribution and Monetization Model ● 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 Customer Segment Coverage Model High automation, self-serve product-led motion Amazon Web Services Google Cloud Microsoft Azure | --- | --- | --- | --- | |---------------------------------- ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________________________________________________________________________________________________________________ FORM ____________________________________________________________________________________________________________________10-Q ________________________________________________________________________ (Mark One) ☒ QUARTERLY REPORT PURS ...

Elastic N.V. (NYSE:ESTC) Q3 2023 Results Conference Call March 2, 2022 5:00 PM ET Company Participants Nikolay Beliov - IR Ash Kulkarni - CEO Janesh Moorjani - CFO Conference Call Participants Anushtha Mittal - RBC Capital Market Ittai Kidron - Oppenheimer Joel Fishbein - Truist Securities Kash Rangan - Goldman Sachs Koji Ikeda - Bank of America Pinjalim Bora - JP Morgan Raimo Lenschow - Barclays Tyler Radke - Citi Operator Good day, and welcome to the Elastic Third Quarter Fiscal 2023 Earnings Results Con ...

Table of Contents Large accelerated filer ☒ Accelerated filer ☐ Emerging growth company ☐ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ____________________________________________________________________________________________________________________________________________________________________________________________ FORM ____________________________________________________________________________________________________________________10-Q ___________________________________ ...

Elastic N.V. (NYSE:ESTC) Q2 2023 Earnings Conference Call November 30, 2022 5:00 PM ET Company Participants Nikolay Beliov - Vice President, Investor Relations Ash Kulkarni - Chief Executive Officer Janesh Moorjani - Chief Financial Officer and Chief Operating Officer Conference Call Participants Tyler Radke - Citi Pinjalim Bora - JPMorgan Joel Fishbein - Truist Securities Vinod Srinivasaraghavan - Barclays Matt Swanson - RBC Capital Markets Koji Ikeda - Bank of America Kamil Mielczarek - William Blair Oper ...