Elastic reports Q1 adjusted EPS 25c, consensus 11c

Reports Q1 revenue $294M, consensus $284.44M. “We had a strong start to the fiscal year, and delivered better than expected results as customers continued to consolidate vendors and adopt Elastic as their AI-powered data analytics platform of choice for addressing multiple real-time search use cases,” said Ash Kulkarni, CEO, Elastic. “In Q1, we saw growing use of Elasticsearch as a vector database and significant activity around generative AI. We are very excited about the long-term opportunity generative AI represents for Elastic.”