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Oct 31, 2023
Elastic Q2 2024 Earnings Report
Reported second quarter fiscal 2024 financial results with revenue exceeding expectations.
Key Takeaways
Elastic reported Q2 2024 revenue of $311 million, up 17% year-over-year, with Elastic Cloud revenue of $135 million, up 31% year-over-year. The company's investments in AI are driving customer engagement, and Elasticsearch Relevance Engine is providing a comprehensive platform for semantic, vector, and hybrid search use cases.
Total revenue was $311 million, an increase of 17% year-over-year, or 16% on a constant currency basis
Elastic Cloud revenue was $135 million, an increase of 31% year-over-year, or 30% on a constant currency basis
GAAP operating loss was $22 million; GAAP operating margin was -7%
Non-GAAP diluted earnings per share was $0.37
Revenue by Segment
Forward Guidance
The Company is providing the following guidance: For the third quarter of fiscal 2024 (ending January 31, 2024): •Total revenue is expected to be between $319 million and $321 million, representing 17% year-over-year growth at the midpoint (16% year-over-year constant currency growth at the midpoint) •Non-GAAP operating margin is expected to be between 11.5% and 12.0% •Non-GAAP earnings per share is expected to be between $0.30 and $0.32, assuming between 103.0 million and 104.0 million diluted weighted average ordinary shares outstanding
Positive Outlook
- Total revenue is expected to be between $319 million and $321 million
- Representing 17% year-over-year growth at the midpoint
- 16% year-over-year constant currency growth at the midpoint
- Non-GAAP operating margin is expected to be between 11.5% and 12.0%
- Non-GAAP earnings per share is expected to be between $0.30 and $0.32
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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