Elastic N.V. (ESTC)

Key figures

The last twelve months reported, with the latest price and balance sheet.

Revenue, last twelve months

$1.8B

Revenue growth

16.2%

Net income, last twelve months

$375.6M

Earnings per share

$3.57

Gross margin

75.5%

Operating margin

-2.6%

Net margin

20.8%

Free cash flow

$349.0M

Return on equity

29.0%

Market value

$11.2B

Price to earnings

29.8x

Cash

$879.9M

Debt

$571.2M

Debt to equity

0.44

Shares outstanding

105.1M

Financial statements

Revenue, profit and cash flow by fiscal year, each year linked to its annual report.

By quarter

What the company said with its results

From the first quarter of fiscal 2027 results, filed 27 August 2026.

• Revenue grew 15% year over year. Total revenue was $478 million, up 15% as reported and on a constant currency basis. Subscription revenue was $449 million, also up 15%.
• Sales-led subscription revenue up 18%. Sales-led subscription revenue, which excludes Monthly Elastic Cloud, rose 18% as reported and 17% in constant currency terms.
• Customers above $100K ACV topped 1,800. Customers with ACV above $100,000 numbered over 1,800, up from over 1,720 in Q4 FY26 and over 1,550 a year earlier. Management said net additions to this cohort reached their highest level to date.
• Non-GAAP diluted EPS rose to $0.70. GAAP net loss per share was $0.16, against $0.23 a year earlier. Non-GAAP diluted EPS was $0.70, up from $0.60.
• Net Expansion Rate near 111%. Net Expansion Rate was approximately 111%, compared with approximately 112% in Q4 FY26.
• Annual Elastic Cloud grew 27%. Annual Elastic Cloud revenue was $185.0 million, 39% of total revenue, up 27% year over year as reported and on a constant currency basis.
• Monthly Elastic Cloud nearly flat. Monthly Elastic Cloud revenue was $50.2 million, up 1% year over year and 5% from the prior quarter.
• Other subscription revenue up 11%. Other subscription revenue was $213.5 million, up 11% as reported and 10% on a constant currency basis.
• Services revenue rose to $29.4 million. Services revenue was $29.4 million, compared with $26.7 million in the prior-year quarter.
• Current RPO grew 21%. Current remaining performance obligations were $1.153 billion, up 21% year over year, or 20% in constant currency.
• Total RPO up 27% to $1.854 billion. Total remaining performance obligations were $1.854 billion, up 27% as reported and in constant currency, and down 6% from the prior quarter.
• Deferred revenue down 14% sequentially. Total deferred revenue was $883.9 million, up 17% year over year and down 14% from the prior quarter.
• Non-GAAP operating margin reached 16.2%. Non-GAAP operating margin was 16.2%, up from 15.7% a year earlier; non-GAAP operating income was $77 million.
• GAAP operating loss of $24 million. GAAP operating loss was $24 million, with GAAP operating margin of negative 5%, after restructuring and other related charges.

Revenue by segment

As the company reports it in the segment note of its annual report.

By region, FY2026

Company events

The newest 8-K filings of 65 held.

Every filing

The newest filings with the SEC of 172 held.

Insider trades

Form 4 trades by officers, directors and 10% owners, last 12 months.

Planned insider sales

Form 144 notices, filed when the sell order goes to the broker.

Large holders

Schedule 13D and 13G filings by holders of more than 5% of the voting shares.

Trades by members of the House

From each member's periodic transaction report.

Short interest

Shares sold short and not yet bought back, on each FINRA settlement date.

Funds that hold it

From each fund's latest Form 13F.

449 funds held it at 30 Jun 2026: 187 added and 135 trimmed in the quarter. The largest:

Peers

Companies in the same industry.

• Microsoft Corp. (MSFT): revenue $346.4B, market value $3.95T
• Palantir Technologies Inc. (PLTR): revenue $6.2B, market value $473.1B
• Oracle Corp. (ORCL): revenue $71.8B, market value $436.3B
• SAP SE (SAP): revenue $41.6B, market value $276.7B
• CrowdStrike Holdings, Inc. (CRWD): revenue $5.4B, market value $273.1B
• Shopify Inc. (SHOP): revenue $13.3B, market value $218.4B
• Salesforce, Inc. (CRM): revenue $43.9B, market value $199.5B
• ServiceNow, Inc. (NOW): revenue $15.4B, market value $155.6B
• Snowflake Inc. (SNOW): revenue $5.4B, market value $119.8B
• Cloudflare, Inc. (NET): revenue $2.5B, market value $113.0B

What the company does

Elastic N.V. describes itself as "the Search AI Company". It sells the Elasticsearch Platform, which combines search with AI so customers can find insights in large amounts of data. The platform runs as a cloud service or as self-managed software, and three solutions are built on it: Search & AI, Elastic Observability, and Elastic Security. As of 30 April 2026 the company had approximately 24,000 customers and 4,019 employees in over 40 countries.

What it sells

At the core of the platform is Elasticsearch, which the filing describes as a distributed, real-time vector database and analytics engine and data store for all types of data. Kibana is the user interface, used to visualise data and to manage the platform.

- Search & AI covers search applications and context engineering. It includes hybrid search, embedding and reranking AI models, and an agent builder for creating AI agents. - Elastic Observability brings logs, metrics and traces into one datastore. - Elastic Security combines SIEM, XDR, endpoint security, cloud security and native SOAR capabilities in a single platform.

How it makes money

Revenue comes mainly from subscriptions, which made up 94% of total revenue. The company also earns revenue from consulting and training services. Subscriptions give the right to use paid proprietary features and access to support, and the company does not sell support on its own. Agreements typically run one to three years and are usually billed annually in advance. They are either term-based or consumption-based, and the vast majority of Elastic Cloud subscriptions are consumption-based. Elastic Cloud customers can also buy month to month without a commitment.

Paid offerings are sold through resource-based pricing, and all customers have access to varying levels of features across all solutions. Elastic Cloud has several subscription tiers tied to different features.

How customers deploy it

Customers can choose Elastic Cloud Hosted, Elastic Cloud Serverless or Elastic Self-Managed. The cloud offerings run on Amazon Web Services, Google Cloud Platform and Microsoft Azure in more than 55 public cloud regions. Customers can also deploy across hybrid, private and multi-cloud environments. The company keeps a single code base for its self-managed software and its hosted services.

Open source and community

The company develops most of its software in public repositories under the AGPL open source licence, as well as under a proprietary licence. The core of Elasticsearch and Kibana are open source. Some features are free to download and use, which lets developers start without any sales contact. The company says this often means sales prospects already know the product.

Who buys from it

Enterprises, educational institutions and government entities buy the products. The company had more than 1,720 customers spending more than $100,000 annually and more than 240 spending more than $1.0 million annually. One customer, a channel partner, accounted for 11% of total revenue. Customers outside the United States accounted for 46% of total revenue. Sales are strongest in the fourth fiscal quarter and weakest in the first.

How it sells and who it works with

Sales teams are organised primarily by geography and secondarily by customer segments. Inside sales development representatives qualify leads, and a customer success team works to expand use. The company also sells through partners, including cloud marketplaces.

- Cloud providers: Amazon, Google and Microsoft. - Systems integrators, channel partners and referral partners. - OEM and MSP partners that embed an Elastic subscription in their own products or services. - Technology partners. - An AI ecosystem with integrations including Anthropic's Claude, Cohere, Hugging Face, LangChain, Mistral AI, NVIDIA and OpenAI.

Competition

- Search & AI: Algolia, Apache Solr, Coveo, Pinecone, Qdrant, Weaviate, MongoDB Atlas, Google Gemini Enterprise Agent Platform and Microsoft Azure AI Search. - Elastic Observability: AppDynamics, Splunk, Datadog, Dynatrace and New Relic. - Elastic Security: Azure Sentinel, CrowdStrike, Google SecOps, Palo Alto Networks and Splunk. - Cloud hosting providers and MSPs, including AWS, that offer products based on a forked version of the platform.

The company says many competitors have greater financial, technical and other resources than it does.

Its people

Elastic calls its employees "Elasticians". It describes itself as distributed by design and has no principal executive office. Its registered office is in Amsterdam, the Netherlands. None of its U.S. employees are represented by a labour union, and in certain countries it has works councils or follows statutory employee representation requirements.

*From Elastic's annual report on Form 10-K for the year ended 30 April 2026. [The filing](https://www.sec.gov/Archives/edgar/data/1707753/000170775326000018/estc-20260430.htm)*

From the company's 10-K.