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Jan 31, 2024
Elastic Q3 2024 Earnings Report
Achieved strong results driven by customer interest in Generative AI, platform consolidation, and stability in cloud consumption patterns.
Key Takeaways
Elastic reported a strong third quarter in fiscal year 2024, with total revenue of $328 million, up 19% year-over-year. Elastic Cloud revenue reached $143 million, a 29% increase year-over-year. GAAP EPS was $1.69, and non-GAAP EPS was $0.36. The company's momentum was driven by customer interest in Generative AI, platform consolidation, and stability in cloud consumption patterns.
Total revenue was $328 million, an increase of 19% year-over-year, or 18% on a constant currency basis.
Elastic Cloud revenue was $143 million, an increase of 29% year-over-year as reported and on a constant currency basis.
GAAP diluted earnings per share was $1.69; non-GAAP diluted earnings per share was $0.36
Operating cash flow was $52 million with adjusted free cash flow of $63 million
Revenue by Segment
Forward Guidance
For the fourth quarter of fiscal 2024 (ending April 30, 2024): Total revenue is expected to be between $328 million and $330 million, representing 18% 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 7.4% and 7.8%. Non-GAAP diluted earnings per share is expected to be between $0.18 and $0.20, assuming between 105.5 million and 106.5 million diluted weighted average ordinary shares outstanding
Positive Outlook
- Total revenue is expected to be between $328 million and $330 million, representing 18% 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 7.4% and 7.8%
- Non-GAAP diluted earnings per share is expected to be between $0.18 and $0.20, assuming between 105.5 million and 106.5 million diluted weighted average ordinary shares outstanding
- Total revenue is expected to be between $1.260 billion and $1.262 billion, representing 18% year-over-year growth at the midpoint (17% year-over-year constant currency growth at the midpoint)
- Non-GAAP operating margin is expected to be approximately 11%
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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