Elastic Q1 2024 Earnings Report
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.
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Elastic Revenue by Segment
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