Elastic N.V. ( (ESTC) ) has released its Q1 earnings. Here is a breakdown of the information Elastic N.V. presented to its investors.
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Elastic N.V., a leader in search technology and artificial intelligence, specializes in transforming data into actionable insights across search, observability, and security solutions. The company, known for its Elastic Search AI Platform, serves a broad spectrum of industries, including more than half of the Fortune 500 companies.
In its first quarter of fiscal 2026, Elastic reported a robust financial performance with total revenue reaching $415 million, marking a 20% increase year-over-year. The company attributes its growth to strong demand for its technology and effective sales execution, particularly in the context of AI’s growing influence on technology decisions.
Key financial metrics from the report highlight a 24% year-over-year increase in Elastic Cloud revenue, reaching $196 million. Subscription revenue also saw a 20% rise, totaling $389 million. Despite a GAAP operating loss of $9 million, the company achieved a non-GAAP operating income of $65 million, reflecting a non-GAAP operating margin of 16%. Furthermore, Elastic’s operating cash flow stood at $105 million, with adjusted free cash flow at $116 million.
Strategically, Elastic has expanded its product offerings, including the launch of the Elastic AI SOC Engine and enhancements to its Elasticsearch capabilities. The company also secured significant partnerships, such as with Dell and Nvidia, and achieved recognition as a leader in multiple industry reports.
Looking ahead, Elastic projects continued growth with expected revenue between $1.679 billion and $1.689 billion for fiscal 2026. The company remains optimistic about its ability to capitalize on the increasing demand for AI-driven solutions and its strategic initiatives to enhance product offerings and expand market reach.