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 ...

Core Insights - Wall Street analysts expect Elastic (ESTC) to report quarterly earnings of $0.25 per share, indicating no change from the same quarter last year, with revenues projected at $344.4 million, reflecting a 17.2% increase year-over-year [1] Revenue Estimates - The consensus estimate for 'Revenue- Services' is $24.77 million, representing a 5.4% increase from the prior-year quarter [3] - Analysts estimate 'Revenue- Subscription' to be $319.67 million, indicating an 18.3% year-over-year change [4] - 'Revenue- Subscription- Elastic Cloud' is projected to reach $155.00 million, showing a year-over-year increase of 27.9% [4] - 'Revenue- Subscription- Other subscription' is expected to be $164.66 million, suggesting a 10.5% increase year-over-year [5] Market Performance - Shares of Elastic have experienced a return of -6.2% over the past month, contrasting with the Zacks S&P 500 composite's +1.5% change [5] - With a Zacks Rank 2 (Buy), Elastic is anticipated to outperform the overall market in the near future [5]

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