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Elastic
🇺🇸 NYSE:ESTC
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Oct 31, 2021

Elastic Q2 2022 Earnings Report

Reported strong financial results with revenue up 42% year-over-year and Elastic Cloud revenue up 84% year-over-year.

Key Takeaways

Elastic announced strong second-quarter fiscal 2022 results, with total revenue of $206.0 million, up 42% year-over-year, and Elastic Cloud revenue of $69.0 million, up 84% year-over-year. The company's growth was fueled by the rapid adoption of Elastic Cloud and the increased strategic relevance of its solutions.

Total revenue was $206.0 million, an increase of 42% year-over-year.

Elastic Cloud revenue was $69.0 million, an increase of 84% year-over-year.

Total subscription customer count was over 17,000.

Net Expansion Rate was slightly below 130%.

Total Revenue
$206M
Previous year: $145M
+42.2%
EPS
-$0.09
Previous year: -$0.03
+200.0%
Net Expansion Rate
130%
Previous year: 130%
+0.0%
Gross Profit
$152M
Cash and Equivalents
$876M
Previous year: $349M
+151.0%
Free Cash Flow
-$12.2M
Previous year: -$18.6M
-34.2%
Total Assets
$1.56B
Previous year: $868M
+80.0%

Elastic

Elastic

Elastic Revenue by Segment

Forward Guidance

For the third quarter of fiscal 2022, total revenue is expected to be between $207 million and $209 million, non-GAAP operating margin is expected to be between -6.0% and -5.0%, and non-GAAP net loss per share is expected to be between $0.24 and $0.20. For fiscal year 2022, total revenue is expected to be between $826 million and $832 million, non-GAAP operating margin is expected to be between -3.0% and -2.0%, and non-GAAP net loss per share is expected to be between $0.61 and $0.51.

Positive Outlook

  • Total revenue is expected to be between $207 million and $209 million for Q3 2022.
  • Non-GAAP operating margin is expected to be between -6.0% and -5.0% for Q3 2022.
  • Non-GAAP net loss per share is expected to be between $0.24 and $0.20 for Q3 2022.
  • Total revenue is expected to be between $826 million and $832 million for fiscal year 2022.
  • Non-GAAP operating margin is expected to be between -3.0% and -2.0% for fiscal year 2022.

Challenges Ahead

  • Non-GAAP net loss per share is expected to be between $0.24 and $0.20 for Q3 2022.
  • Non-GAAP operating margin is expected to be between -6.0% and -5.0% for Q3 2022.
  • Non-GAAP net loss per share is expected to be between $0.61 and $0.51 for fiscal year 2022.
  • Non-GAAP operating margin is expected to be between -3.0% and -2.0% for fiscal year 2022.
  • A reconciliation of non-GAAP guidance measures to corresponding GAAP measures is not available on a forward-looking basis without unreasonable effort.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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