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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%
Revenue by Segment
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.
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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