Elastic Q1 revenue beats estimates on subscriptions growth; raises FY guidance
ESTC•Outlook
- Elastic expects Q2 revenue between $486 mln and $487 mln
- Company sees Q2 non-GAAP diluted EPS between $0.80 and $0.82
- Elastic expects FY27 revenue between $1.998 bln and $2.010 bln
Result drivers
- Customer expansion - Record net additions to >$100K ACV customer cohort drove sales-led subscription revenue growth, per CEO Ash Kulkarni
- Product innovation - New AI and observability features, including native Prometheus support and automated migration, contributed to platform growth
- AI enhancements - Acquisition of Deductive AI and expanded AI-powered investigation and automation strengthened observability offerings
Quarterly results
- Search and AI software firm's fiscal Q1 revenue rose 15%, beating analyst expectations
- Adjusted EPS for fiscal Q1 beat consensus
- Company repurchased $40 mln in shares during the quarter
Key details and analyst coverage
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