What guidance did Elastic's management provide for the next earnings period?

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Did Elastic beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Elastic year over year?

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What is the market's earnings forecast for Elastic next quarter?

What does Elastic do and what are its main business segments?

- **Revenue Growth Accelerates**: Q3 revenue up 18% YoY to $450M, with AI-driven subscription revenue rising 21%.
- **AI Adoption Surge**: 28% of $100k+ customers now use Elastic for AI, up from 25% last quarter.
- **Hybrid Cloud Dominance**: 50% of AI workloads run on self-managed infrastructure, delivering 8x faster search than OpenSearch.
- **Share Buyback Momentum**: Returned $186M to shareholders, completing 60% of $500M buyback program.
- **Win Rate Against Legacy Vendors**: 30% of Q3 deals displaced OpenSearch, MongoDB, and niche cloud providers.

**【CEO Summary Section】**
- Total revenue grew 18% YoY to $450 million, driven by strong AI adoption and hybrid cloud solutions. Sales-led subscription revenue rose 21% to $376 million.
- AI-related customer count exceeded 3,000, with 28% of $100k+ ACV customers using Elastic for AI workflows like Agent Builder and Attack Discovery.
- Won 7-figure deals with Fortune 100 companies for vector search, SIEM, and observability, displacing legacy vendors like OpenSearch and MongoDB.
- Introduced GPU-accelerated vector search (12x faster indexing) and Elastic Workflows for automating AI-driven actions across systems.

**【CFO Financial Commentary】**
- Non-GAAP operating margin expanded to 18.6%, up from 16.3% in Q2, with adjusted free cash flow of $54 million (12% margin).
- CRPO crossed $1 billion (19% YoY growth), with $1.06 billion in next-12-months revenue visibility.
- Raised FY26 guidance: total revenue $1.734B (17% growth), sales-led subscription $1.434B (20% growth), and operating margin 16.3%.
- Repurchased 60% of $500M share buyback program, returning $186M to shareholders in Q3.

**【Q&A Key Highlights】**
- **AI Penetration**: 28% of $100k+ ACV customers use Elastic for AI, up from 25% last quarter. AI-native customers show 5%+ expansion rates.
- **Cloud vs. Self-Managed**: 50% of AI workloads run on self-managed infrastructure due to data sovereignty, with hybrid flexibility driving 8x faster search performance than OpenSearch.
- **Customer Momentum**: Added 60 net new $100k+ ACV customers, with 1,660+ customers exceeding $100k in annual spend.
- **Competitive Win Rate**: 30%+ of Q3 deals displaced legacy vendors, with 70%+ of new logos choosing Elastic over cloud-native alternatives.
- **AI Workflows**: Agent Builder adoption grew 3x QoQ, with customers using it for IT troubleshooting, customer support, and security orchestration.

Elastic N.V. (ESTC) Q3 2026 Earnings Call Transcript

- **Revenue Growth**: 16% YoY to $423M, 18% in sales-led subscription. **Deal Momentum**: 30+ >$1M deals, 2 >$20M records. **Gen AI Expansion**: 23% of >$100K customers using Elastic for AI. **Financial Strength**: 16.5% operating margin, $26M free cash flow. **Guidance Raise**: FY26 up 2% YoY to $1.715B-$1.721B. **Share Buybacks**: $114M returned in Q2 under $500M program. **AI Innovation**: Agent Builder, Streams, and Jina AI acquisition accelerate AI adoption.

**【CEO Summary Section】**
- Q2 revenue grew 16% YoY to $423M, driven by 18% growth in sales-led subscription revenue. Key wins included 30+ deals >$1M, 5 >$10M, and 2 >$20M (record high). Notable deals: $20M+ chemical manufacturer security win and $26M CISA SIEM-as-a-service contract. Gen AI adoption accelerated, with 23% of >$100K customers using Elastic for AI use cases. Agent Builder and Streams launched to simplify AI workflows. IDC recognized Elastic as a leader in Observability and Search platforms.

**【CFO Financial Commentary】**
- Total revenue: $423M (+16% YoY). Subscription gross margin: 82%, total gross margin: 78%, operating margin: 16.5%. CRPO grew 17% YoY to $971M. Adjusted free cash flow: $26M (6% margin). FY26 guidance raised to $1.715B-$1.721B (+16% YoY midpoint). Q3 revenue guide: $437M-$439M (+15% YoY midpoint). Share buybacks began under $500M program, returning $114M in Q2.

**【Q&A Highlights】**
- **AI Adoption**: 23% of >$100K customers use Elastic for Gen AI, up from 17% YoY. Strong consumption across cloud and self-managed. **Sales Execution**: 5th consecutive quarter of disciplined sales, with 30+ large deals. **Government Impact**: Q2 renewals delayed by U.S. government shutdown, expected to resume in Q3. **Cloud vs Self-Managed**: Both channels growing, no internal target breakdown. **Margins**: Operating margin 16.5% in Q2, guided to 17.5% in Q3 and 16.25% FY26. **Gen AI Momentum**: 2,450 customers on Elastic Cloud for Gen AI, 370 >$100K customers leveraging AI features.

Elastic N.V. (ESTC) Q2 2026 Earnings Call Transcript

- **Revenue Growth**: 20% YoY total revenue, 22% YoY sales-led subscription revenue
- **AI Expansion**: 2,200 AI customers, 330+ >$100k AI spenders, 7-figure AI deals
- **Security Win Rate**: 1/3 of security deals displaced competitors
- **Financial Strength**: 79% gross margin, 16% operating margin, 28% free cash flow margin
- **Guidance Raise**: FY2026 revenue up to $1.689B (+14% YoY)
- **AI SOC Engine**: New EASE tool enables AI-driven threat detection on existing SIEMs
- **Serverless Growth**: GA on all 3 hyperscalers, targeting full data center coverage by FY2026

**【CEO Summary Section】**
- Elastic reported 20% year-over-year revenue growth in Q1 FY2026, driven by 22% growth in sales-led subscription revenue (excluding monthly Elastic Cloud). 
- Gen AI adoption accelerated, with 2,200 Elastic Cloud customers using AI features, including 330+ customers spending >$100k annually. Q1 added more million ACV AI customers than previous two quarters combined.
- Security business saw 1/3 of new/expansion deals displace competitors, highlighted by a 7-figure deal with a U.S. health system replacing legacy SIEM.
- Elastic's vector database leadership (BBQ/ACORN-1 algorithms) enabled a 7-figure expansion with a global retail company for hybrid search.
- Observability growth driven by new low-price tier (Logs Essentials) and serverless availability on all 3 hyperscalers.

**【CFO Financial Commentary】**
- Total Q1 revenue: $415M (+20% YoY, +18% constant currency)
- Gross margin: 79% (includes $4M one-time cloud credit)
- Operating margin: 16%
- Adjusted free cash flow margin: 28%
- CRPO: $956M (+18% YoY)
- FY2026 guidance raised to $1.679B-$1.689B (+14% midpoint)
- Q2 2026 revenue: $415M-$417M (+14% YoY midpoint)

**【Q&A Highlights】**
- **AI Spend Impact**: Customers using AI see higher consumption due to compute-intensive workloads. 2200+ AI customers represent 13% of total ARR.
- **Price Increases**: May 2025 price hikes contributed ~1% YoY growth, with most benefit from organic performance.
- **Security Momentum**: 1/3 of security deals displaced competitors, driven by AI SOC Engine (EASE) for threat detection.
- **Self-Managed Growth**: Q1 self-managed growth was broad-based across geos and solutions.
- **Federal Sector**: U.S. public sector stabilization, with GSA agreement and FedRAMP high certification driving momentum.
- **Serverless Progress**: Serverless GA on all 3 hyperscalers, with data center expansion planned for FY2026.

Elastic N.V. (ESTC) Q1 2026 Earnings Call Transcript

- **Revenue Outperformance**: Q4 revenue +16% YoY, exceeding expectations with 23% cloud growth and 19% self-managed expansion.
- **GenAI Leadership**: 2,000+ cloud customers use Elastic for GenAI, including 310+ >$100k spenders. BBQ tech secured a 7-figure defense deal.
- **Customer Expansion**: Added 45 new >$1M customers, 25% of whom use AI. Expansion wins include a global bank consolidating observability.
- **Strategic Partnerships**: AWS 5-year collaboration, Google Cloud native vector engine, and Nvidia AI Factory integrations amplify AI reach.
- **FY2026 Guidance**: 12% YoY growth (midpoint) with 16% operating margin, reflecting macro caution but multi-path upside.
- **AI Momentum**: RAG adoption grows 150% YoY, positioning Elastic as critical for enterprise AI workflows.


**【CEO Summary Section】**
- **Revenue Growth**: Q4 revenue increased 16% YoY, driven by 23% growth in Elastic Cloud and 19% growth in self-managed subscriptions. FY2025 ended with 1,510+ customers spending over $100k annually.
- **GenAI Momentum**: Over 2,000 cloud customers use Elastic for GenAI, including 310+ spending >$100k. BBQ (Better Binary Quantization) technology enabled a 7-figure deal with a defense agency.
- **Customer Expansion**: Added 45 net new customers >$1M in ACV, with 25% of million-dollar customers leveraging Elastic for AI. Expansion deals included a global bank consolidating observability tools and a cloud platform adopting serverless search.
- **Partnerships**: Announced 5-year AWS collaboration, Elastic Search as native vector engine on Google Cloud Vertex AI, and Nvidia AI Factory integration for enterprise AI deployment.

**【CFO Financial Commentary】**
- **Q4 Financials**: Total revenue $388M (16% YoY), non-GAAP operating margin 15%, and free cash flow margin 19%. FY2025 ended with $1.655B-$1.67B FY2026 guidance, reflecting 12% YoY growth at midpoint.
- **Guidance Assumptions**: Conservative outlook due to U.S. public sector macro challenges, potential consumption headwinds, and seasonal cloud growth patterns. Non-GAAP EPS for Q1 2026 expected at $0.41-$0.43.
- **Margin Trends**: Aiming for 16% non-GAAP operating margin in FY2026, balancing growth investments with profitability. Free cash flow margin to sustain FY2025 levels.

**【Q&A Highlights】**
- **AI & RAG Adoption**: RAG is durable for enterprises needing real-time data grounding. Elastic's vector database is pole position in hyperscaler marketplaces, with AI assistant adoption growing 150% YoY.
- **Public Sector Challenges**: U.S. federal civilian agencies face budget constraints, but international public sector and defense remain strong. FY2026 guidance factors in potential macro drag beyond U.S. public sector.
- **Sales Strategy**: No major changes to 2025 segmentation; focus on enterprise and mid-market with 45 new >$1M customers. Adding security sales specialists to capitalize on consolidation trends.
- **Cloud Growth**: Sequential cloud growth slower in Q1 due to day count and seasonal patterns, but mid-20s YoY growth maintained. Serverless adoption and AI integrations drive long-term cloud potential.


Elastic N.V. (ESTC) Q4 2025 Earnings Call Transcript

- **Revenue Surges**: 17% YoY growth to $382M, with cloud revenue up 26% to $180M (47% of total). Gen AI-driven deals >$1M increased 5x QoQ.
- **Customer Expansion**: 1,460+ customers now spend >$100k annually, up 12% QoQ. 270+ customers exceed $100k in Gen AI spend.
- **Product Breakthroughs**: Elastic Cloud Serverless launched on AWS, Logsdb index mode boosts log efficiency. 7-figure vector DB deal displaces competitor.
- **Leadership Change**: Navam Welihinda (HashiCorp CFO) joins as CFO, bringing SaaS and open-source expertise.


**【CEO Summary Section】**
- **Revenue Growth**: Total revenue increased 17% YoY to $382 million, with cloud revenue up 26% YoY to $180 million. Non-GAAP operating margin was 17% of revenue.
- **Customer Expansion**: Over 1,460 customers now spend >$100k annually, up from 1,300+ last quarter. 270+ customers spend >$100k on Gen AI use cases.
- **Gen AI Momentum**: Signed 5+ deals >$1M in Q3 for Gen AI applications, including a 7-figure vector DB deal with a career platform. 1,750+ cloud customers use Gen AI features.
- **Product Innovation**: Launched Elastic Cloud Serverless (GA on AWS, preview on Azure) and Logsdb index mode (enterprise tier). Rerank model in tech preview improves search accuracy.
- **Customer Wins**: 7-figure deals with smart water management, military cybersecurity, and Madrid Digital (3TB logs/day). SAP Concur highlighted auto-scaling in serverless.

**【CFO Financial Commentary】**
- **Subscription Strength**: Subscription revenue $358M (+16% YoY), with cloud at 47% of total. Month-to-month (MTM) revenue $49M (13% of total, flat YoY).
- **Professional Services**: $24M (+18% YoY), driven by field execution across search, observability, and security.
- **Geographic Growth**: Americas led at 17% YoY, followed by EMEA (15%) and APJ (14%).
- **Customer Commitment**: Multiyear deals reflect long-term platform standardization.

**【Executive Updates】**
- **New CFO**: Navam Welihinda (ex-Grammarly, HashiCorp) to join Feb 28. Eric Prengel remains interim CFO, now reporting to Navam with expanded FP&A responsibilities.
- **Team Momentum**: Strong field execution and healthy aggregate consumption trends.


Actual					-0.28	-0.12	0.06	-0.03	-0.04	-0.08	0.04	-0.09	-0.12	-0.16	-0.15	0.0019	0.17	0.22	0.25	0.37	0.36	0.21	0.35	0.59	0.63	0.47	0.6	0.64	0.73
Forecast					-0.3484	-0.3144	-0.1799	-0.2027	-0.149	-0.1604	-0.1032	-0.1576	-0.1981	-0.216	-0.1724	-0.0968	0.0531	0.0929	0.113	0.2437	0.315	0.196	0.257	0.3817	0.4708	0.3691	0.4186	0.5762	0.6461
Surprise	0.00%	0.00%	0.00%	0.00%	+19.63%	+61.83%	+133.35%	+85.20%	+73.15%	+50.12%	+138.76%	+42.89%	+39.42%	+25.93%	+12.99%	+101.96%	+220.15%	+136.81%	+121.24%	+51.83%	+14.29%	+7.14%	+36.19%	+54.57%	+33.81%	+27.34%	+43.33%	+11.07%	+12.99%

ESTC

ESTC fundamentals

ESTC Q3 2026 Earnings

Earnings Call

You can ask Aime

ESTC

ESTC fundamentals

ESTC Q3 2026 Earnings

Earnings Call

ESTC Earnings Call Summary for Q3/20265:00 PM on Feb 26, 2026

ESTC Earnings Call Summary for Q2/20265:00 PM on Nov 20, 2025

ESTC Earnings Call Summary for Q1/20265:00 PM on Aug 28, 2025

ESTC Earnings Call Summary for Q4/20255:00 PM on May 29, 2025

ESTC Earnings Call Summary for Q3/20255:00 PM on Feb 27, 2025

You can ask Aime