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Jan 31, 2023
Elastic Q3 2023 Earnings Report
Reported third quarter fiscal 2023 financial results with revenue up 23% year-over-year (27% in constant currency).
Key Takeaways
Elastic announced strong Q3 fiscal 2023 results, with total revenue of $275 million, up 23% year-over-year (27% in constant currency). Elastic Cloud revenue reached $111 million, a 38% increase year-over-year (40% in constant currency). The company delivered stronger than expected non-GAAP operating margin amidst a challenging macro environment.
Total revenue was $275 million, an increase of 23% year-over-year, or 27% on a constant currency basis
Elastic Cloud revenue was $111 million, an increase of 38% year-over-year, or 40% on a constant currency basis
GAAP operating loss was $69 million; GAAP operating margin was -25%
Non-GAAP operating income was $22 million; non-GAAP operating margin was 8%
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 fourth quarter of fiscal 2023, total revenue is expected to be between $276 million and $278 million, representing 16% year-over-year growth at the midpoint (18% year-over-year constant currency growth at the midpoint). Non-GAAP operating margin is expected to be between 4.8% and 5.2%. Non-GAAP earnings per share is expected to be between $0.08 and $0.10.
Positive Outlook
- Total revenue is expected to be between $276 million and $278 million
- Midpoint revenue growth of 16% year-over-year (18% year-over-year constant currency growth)
- Non-GAAP operating margin is expected to be between 4.8% and 5.2%
- Non-GAAP earnings per share is expected to be between $0.08 and $0.10
- Assuming between 100 million and 101 million diluted weighted average ordinary shares outstanding
Revenue & Expenses
Visualization of income flow from segment revenue to net income