Elastic(ESTC)2025-06-09 22:08Revenue Performance - Revenue increased to $1.483 billion for the year ended April 30, 2025, up 17% from $1.267 billion in 2024 and 39% from $1.069 billion in 2023[301] - Subscription revenue accounted for 93% of total revenue for the years ended April 30, 2025 and 2024[297] - Total revenue for the year ended April 30, 2025, was $1,483.3 million, up from $1,267.3 million in 2024, representing a 17% increase[334] Customer Growth - As of April 30, 2025, the number of customers increased to approximately 21,500, compared to 21,000 as of April 30, 2024[298] - The number of customers with annual contract value over $100,000 increased to over 1,510 as of April 30, 2025, up from over 1,330 in 2024[299] Elastic Cloud Contribution - Elastic Cloud contributed 46% of total revenue for the year ended April 30, 2025, compared to 43% in 2024[314] - Subscription revenue for the year ended April 30, 2025, increased by $207.9 million, or 18%, compared to the prior year, driven by a 26% growth in Elastic Cloud, which accounted for 46% of total revenue[334] Financial Performance - Net cash provided by operating activities was $266.2 million for the year ended April 30, 2025, up from $148.8 million in 2024[302] - The company incurred a net loss of $108.1 million for the year ended April 30, 2025, following a net income of $61.7 million in 2024[302] - Operating loss for the year ended April 30, 2025, was $(54.9) million, an improvement from $(129.9) million in 2024[329] Expenses - Research and development expenses for the year ended April 30, 2025, were $365.8 million, an increase of 7% from $342.0 million in 2024[329] - Sales and marketing expenses for the year ended April 30, 2025, rose to $617.2 million, up 10% from $559.6 million in 2024[329] - General and administrative expenses for the year ended April 30, 2025, increased to $175.2 million, compared to $160.6 million in 2024[329] Tax and Other Income - The provision for income taxes was $76.5 million for the year ended April 30, 2025, compared to a benefit of $184.5 million in the prior year[344] - Other income, net increased by $15.4 million, or 46%, for the year ended April 30, 2025, attributed to a $10.3 million increase in interest and investment income[343] Cash and Securities - As of April 30, 2025, the company had cash, cash equivalents, and marketable securities totaling $1.397 billion[348] - The company had purchase commitments of $812.3 million related to cloud hosting services as of April 30, 2025[359] Foreign Currency and Risk Management - Foreign currency transaction losses recognized were $2.5 million, $3.4 million, and $0.4 million for the years ended April 30, 2025, 2024, and 2023, respectively[380] - A 10% increase or decrease in exchange rates as of April 30, 2025, would have impacted cash, cash equivalents, restricted cash, and marketable securities balances by approximately $9.2 million[381] - The company has not had a formal hedging program for foreign currency but may adopt one if exposure increases significantly[379] Accounting and Valuation - The company applies significant judgment in determining the fair value of acquired intangible assets, which involves estimates of future cash flows and discount rates[372] - Revenue recognition involves significant judgment in evaluating customer contracts and performance obligations, with transaction prices allocated based on standalone selling prices[368] - The company recognizes deferred tax assets for net operating loss and credit carryforwards, with a valuation allowance provided unless realization is more likely than not[374]