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Jul 31, 2023
Elastic Q1 2024 Earnings Report
Reported a strong start to the fiscal year with better than expected results, driven by customer consolidation and adoption of Elastic as their AI-powered data analytics platform.
Key Takeaways
Elastic reported a strong first quarter for fiscal year 2024, with total revenue of $294 million, up 17% year-over-year. Elastic Cloud revenue reached $121 million, a 24% increase year-over-year. The company's focus on AI-powered solutions and vendor consolidation drove better than expected results.
Total revenue was $294 million, an increase of 17% year-over-year.
Elastic Cloud revenue was $121 million, an increase of 24% year-over-year.
GAAP operating loss was $36 million; GAAP operating margin was -12%.
Non-GAAP diluted earnings per share was $0.25.
Elastic
Elastic
Elastic Revenue by Segment
Revenue by Segment
Elastic Cloud Revenue
CapyFin.comOther Subscription Revenue
CapyFin.comProfessional Services Revenue
CapyFin.com Forward Guidance
For the second quarter of fiscal 2024, total revenue is expected to be between $303 million and $305 million, representing 15% year-over-year growth at the midpoint. Non-GAAP operating margin is expected to be between 9.5% and 10.0%, and non-GAAP earnings per share is expected to be between $0.23 and $0.25.
Positive Outlook
- Total revenue is expected to be between $303 million and $305 million, representing 15% year-over-year growth at the midpoint
- Non-GAAP operating margin is expected to be between 9.5% and 10.0%
- Non-GAAP earnings per share is expected to be between $0.23 and $0.25
- Total revenue is expected to be between $1.242 billion and $1.250 billion, representing 17% year-over-year growth at the midpoint
- Non-GAAP operating margin is expected to be between 10.0% and 10.5%
Revenue & Expenses
Visualization of income flow from segment revenue to net income