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Apr 30, 2023
Elastic Q4 2023 Earnings Report
Announced financial results for the fourth quarter and full fiscal year ended April 30, 2023.
Key Takeaways
Elastic's Q4 revenue reached $280 million, a 17% increase year-over-year (19% in constant currency), with Elastic Cloud revenue growing by 28% year-over-year (30% in constant currency). The company reported a GAAP operating loss of $40 million and a non-GAAP operating income of $24 million.
Total revenue was $280 million, an increase of 17% year-over-year, or 19% on a constant currency basis
Elastic Cloud revenue was $112 million, an increase of 28% year-over-year, or 30% on a constant currency basis
GAAP operating loss was $40 million; GAAP operating margin was -14%
Non-GAAP operating income was $24 million; non-GAAP operating margin was 9%
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 first quarter of fiscal 2024, Elastic expects total revenue between $283 million and $286 million, representing 14% year-over-year growth. Non-GAAP operating margin is expected to be between 5.6% and 6.0%, and non-GAAP earnings per share are expected to be between $0.10 and $0.12.
Positive Outlook
- Total revenue is expected to be between $283 million and $286 million, representing 14% year-over-year growth at the midpoint (14% year-over-year constant currency growth at the midpoint)
- Non-GAAP operating margin is expected to be between 5.6% and 6.0%
- Non-GAAP earnings per share is expected to be between $0.10 and $0.12, assuming between 100.5 million and 101.5 million diluted weighted average ordinary shares outstanding
- Total revenue is expected to be between $1.238 billion and $1.250 billion, representing 16% 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 9.7% and 10.3%
Challenges Ahead
- A reconciliation of forward-looking non-GAAP measures to the corresponding GAAP measures for operating margin and net loss per share is not available on a forward-looking basis without unreasonable effort due to the uncertainty regarding, and the potential variability of, many of the costs and expenses that may be incurred in the future.
- These items necessary to reconcile such non-GAAP measures could be material and have a significant impact on the Company’s results computed in accordance with GAAP.
- The guidance assumes, among others, the following exchange rates: 1 Euro = 1.076 US Dollars; and 1 Great British Pound = 1.237 US Dollars.
- Forward-looking statements that involve substantial risks and uncertainties
- Our ability to achieve and maintain future profitability
Revenue & Expenses
Visualization of income flow from segment revenue to net income