Elastic N.V. Financials

ESTC

Source SEC Filings (10-K/10-Q) Updated Oct 31, 2025 Currency USD FYE April

Financial Health Signals

Financial Profile 64/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Elastic N.V. has an operating margin of -3.7%, meaning the company retains $-4 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is up from -10.3% the prior year.

Growth

Elastic N.V.'s revenue surged 17.0% year-over-year to $1.5B, reflecting rapid business expansion. This strong growth earns a score of 77/100.

Leverage

Elastic N.V. carries a low D/E ratio of 0.59, meaning only $0.59 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 89/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Elastic N.V.'s current ratio of 2.09 indicates adequate short-term liquidity, earning a score of 63/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Elastic N.V. converts 17.6% of revenue into free cash flow ($261.8M). This strong cash generation earns a score of 88/100.

Piotroski F-Score Neutral

5/9

Elastic N.V. passes 5 of 9 financial strength tests. 2 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, 1 of 2 efficiency signals pass.

Earnings Quality Mixed

-2.46x

For every $1 of reported earnings, Elastic N.V. generates $-2.46 in operating cash flow ($266.2M OCF vs -$108.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Interest Coverage At Risk

-2.2x

Elastic N.V. earns $-2.2 in operating income for every $1 of interest expense (-$54.9M vs $25.3M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

This page shows Elastic N.V. (ESTC) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 9 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

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Key Financial Metrics

Revenue

$1.5B

YoY+17.0%

5Y CAGR+28.2%

Elastic N.V. generated $1.5B in revenue in fiscal year 2025. This represents an increase of 17.0% from the prior year.

EBITDA

-$42.6M

YoY+61.9%

Elastic N.V.'s EBITDA was -$42.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 61.9% from the prior year.

Free Cash Flow

$261.8M

YoY+80.2%

Elastic N.V. generated $261.8M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 80.2% from the prior year.

Net Income

-$108.1M

YoY-275.2%

Elastic N.V. reported -$108.1M in net income in fiscal year 2025. This represents a decrease of 275.2% from the prior year.

EPS (Diluted)

$-1.04

YoY-276.3%

Elastic N.V. earned $-1.04 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 276.3% from the prior year.

Cash & Debt

$662.3M

YoY+11.3%

5Y CAGR+13.6%

Elastic N.V. held $662.3M in cash against $570.0M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

106M

YoY+3.8%

5Y CAGR+4.4%

Elastic N.V. had 106M shares outstanding in fiscal year 2025. This represents an increase of 3.8% from the prior year.

Gross Margin

74.4%

YoY+0.4pp

5Y CAGR+3.1pp

Elastic N.V.'s gross margin was 74.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is up 0.4 percentage points from the prior year.

Operating Margin

-3.7%

YoY+6.6pp

5Y CAGR+36.3pp

Elastic N.V.'s operating margin was -3.7% in fiscal year 2025, reflecting core business profitability. This is up 6.6 percentage points from the prior year.

Net Margin

-7.3%

YoY-12.2pp

5Y CAGR+31.8pp

Elastic N.V.'s net profit margin was -7.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 12.2 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

$365.8M

YoY+7.0%

5Y CAGR+17.2%

Elastic N.V. invested $365.8M in research and development in fiscal year 2025. This represents an increase of 7.0% from the prior year.

Share Buybacks

N/A

Capital Expenditures

$4.3M

YoY+25.9%

5Y CAGR-3.0%

Elastic N.V. invested $4.3M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 25.9% from the prior year.

ESTC Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.5B+17.0%	$1.3B+18.6%	$1.1B+24.0%	$862.4M+41.7%	$608.5M+42.3%	$427.6M
Cost of Revenue	$379.9M+15.1%	$330.1M+11.3%	$296.6M+27.7%	$232.2M+44.2%	$161.1M+31.3%	$122.7M
Gross Profit	$1.1B+17.7%	$937.2M+21.3%	$772.4M+22.6%	$630.2M+40.8%	$447.4M+46.7%	$304.9M
R&D Expenses	$365.8M+7.0%	$342.0M+9.1%	$313.5M+14.5%	$273.8M+37.4%	$199.2M+20.5%	$165.4M
SG&A Expenses	$175.2M+9.1%	$160.6M+12.1%	$143.2M+16.0%	$123.4M+18.9%	$103.8M+13.3%	$91.6M
Operating Income	-$54.9M+57.7%	-$129.9M+40.7%	-$219.2M-26.2%	-$173.7M-34.1%	-$129.5M+24.3%	-$171.1M
Interest Expense	$25.3M-3.2%	$26.1M+3.9%	$25.2M+21.4%	$20.7M+11097.8%	$185K	$0
Income Tax	$76.5M+141.5%	-$184.5M-1056.6%	$19.3M+218.3%	$6.1M-21.5%	$7.7M+492.3%	-$2.0M
Net Income	-$108.1M-275.2%	$61.7M+126.1%	-$236.2M-15.9%	-$203.8M-57.5%	-$129.4M+22.6%	-$167.2M
EPS (Diluted)	$-1.04-276.3%	$0.59+123.9%	$-2.47-12.3%	$-2.20-48.6%	$-1.48+30.2%	$-2.12

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Revenue	$423.5M+2.0%	$415.3M+8.7%	$382.1M+4.6%	$365.4M+5.2%	$347.4M+5.9%	$328.0M+5.6%	$310.6M	N/A
Cost of Revenue	$102.0M+5.5%	$96.7M-0.4%	$97.2M+4.3%	$93.2M+1.5%	$91.8M+8.4%	$84.6M+5.7%	$80.1M	N/A
Gross Profit	$321.5M+0.9%	$318.5M+11.8%	$284.9M+4.7%	$272.2M+6.5%	$255.7M+5.1%	$243.3M+5.5%	$230.5M	N/A
R&D Expenses	$108.2M-0.9%	$109.1M+16.6%	$93.6M+6.2%	$88.2M-1.3%	$89.3M+2.4%	$87.2M+8.9%	$80.1M	N/A
SG&A Expenses	$48.0M+7.0%	$44.8M+6.1%	$42.2M-4.2%	$44.1M+3.3%	$42.7M+4.3%	$40.9M+5.7%	$38.7M	N/A
Operating Income	-$8.2M+12.8%	-$9.4M-103.5%	-$4.6M-4.8%	-$4.4M+86.9%	-$33.8M-28.2%	-$26.4M-22.6%	-$21.5M	N/A
Interest Expense	$6.3M-0.9%	$6.4M-1.9%	$6.5M+0.2%	$6.5M-1.0%	$6.5M+2.5%	$6.4M+0.3%	$6.3M	N/A
Income Tax	$52.6M+113.8%	$24.6M+16.4%	$21.1M-10.7%	$23.7M+17.9%	$20.1M+110.0%	-$200.3M-3992.1%	$5.1M	N/A
Net Income	-$51.3M-108.4%	-$24.6M-44.2%	-$17.1M+33.0%	-$25.4M+48.3%	-$49.2M-128.0%	$176.1M+810.3%	-$24.8M	N/A
EPS (Diluted)	$-0.48-108.7%	$-0.23-43.8%	$-0.16+36.0%	$-0.25+47.9%	$-0.48-128.4%	$1.69+776.0%	$-0.25	N/A

ESTC Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$2.5B+17.4%	$2.2B+26.4%	$1.7B+8.3%	$1.6B+3.4%	$1.5B+85.0%	$821.3M
Current Assets	$1.9B+28.1%	$1.5B+18.2%	$1.2B+12.7%	$1.1B-6.8%	$1.2B+137.0%	$497.9M
Cash & Equivalents	$662.3M+11.3%	$594.9M-5.7%	$630.6M-25.7%	$848.8M-14.4%	$991.3M+182.9%	$350.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$222.0M+13.0%	$196.5M+6.0%	$185.4M+10.3%	$168.0M+51.6%	$110.8M+27.0%	$87.3M
Goodwill	$326.1M+2.1%	$319.4M+5.1%	$303.8M+0.1%	$303.7M+53.0%	$198.5M+0.1%	$198.4M
Total Liabilities	$1.6B+11.6%	$1.4B+7.9%	$1.3B+9.5%	$1.2B+10.6%	$1.1B+173.6%	$389.0M
Current Liabilities	$900.8M+17.3%	$768.2M+14.4%	$671.7M+19.9%	$560.3M+28.9%	$434.7M+37.0%	$317.4M
Long-Term Debt	$570.0M+0.2%	$568.9M+0.2%	$567.8M+0.2%	$566.8M+0.2%	$565.7M	N/A
Total Equity	$971.4M+27.9%	$759.4M+84.4%	$411.7M+4.6%	$393.5M-13.6%	$455.7M+5.4%	$432.4M
Retained Earnings	-$1.1B-8.0%	-$1.0B+5.5%	-$1.1B-24.3%	-$886.7M-36.9%	-$647.8M-28.8%	-$502.9M

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Total Assets	$2.5B-1.9%	$2.5B+8.3%	$2.3B+4.4%	$2.2B+3.8%	$2.2B+4.4%	$2.1B+17.1%	$1.8B+0.8%	$1.7B
Current Assets	$1.8B-2.8%	$1.9B+10.9%	$1.7B+7.5%	$1.6B+7.5%	$1.5B+7.6%	$1.4B+4.6%	$1.3B+2.2%	$1.3B
Cash & Equivalents	$800.6M+20.9%	$662.3M+13.4%	$584.0M-11.3%	$658.5M+10.7%	$594.9M+12.9%	$526.9M-10.6%	$589.7M-8.5%	$644.2M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	$260.9M+17.6%	$222.0M-17.9%	$270.4M+5.6%	$256.1M+30.3%	$196.5M-14.6%	$229.9M-1.0%	$232.3M-11.0%	$260.9M
Goodwill	$359.7M+10.3%	$326.1M+2.1%	$319.4M0.0%	$319.4M0.0%	$319.4M0.0%	$319.5M+5.3%	$303.5M0.0%	$303.6M
Total Liabilities	$1.6B+2.1%	$1.6B+5.5%	$1.5B+3.6%	$1.4B+2.1%	$1.4B+3.0%	$1.4B+3.7%	$1.3B-3.1%	$1.3B
Current Liabilities	$927.0M+2.9%	$900.8M+7.6%	$837.0M+5.9%	$790.7M+2.9%	$768.2M+5.5%	$728.3M+6.0%	$687.2M-4.1%	$716.6M
Long-Term Debt	$570.3M+0.1%	$570.0M+0.1%	$569.4M0.0%	$569.2M0.0%	$568.9M+0.1%	$568.3M0.0%	$568.1M+0.1%	$567.5M
Total Equity	$891.1M-8.3%	$971.4M+13.1%	$859.1M+5.9%	$811.5M+6.9%	$759.4M+7.3%	$707.8M+55.5%	$455.1M+14.1%	$398.9M
Retained Earnings	-$1.2B-4.6%	-$1.1B-3.8%	-$1.1B-1.6%	-$1.1B-2.4%	-$1.0B-9.5%	-$950.5M+15.6%	-$1.1B-7.0%	-$1.1B

ESTC Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$266.2M+78.9%	$148.8M+317.1%	$35.7M+528.7%	$5.7M-74.8%	$22.5M+173.8%	-$30.6M
Capital Expenditures	$4.3M+25.9%	$3.5M+28.5%	$2.7M+8.0%	$2.5M-36.5%	$3.9M-22.7%	$5.1M
Free Cash Flow	$261.8M+80.2%	$145.3M+340.6%	$33.0M+934.8%	$3.2M-82.9%	$18.6M+152.3%	-$35.6M
Investing Cash Flow	-$118.7M+58.8%	-$288.0M-5.5%	-$273.0M-114.5%	-$127.3M-8284.1%	-$1.5M+94.8%	-$29.2M
Financing Cash Flow	$40.9M+2.2%	$40.1M+129.3%	$17.5M-97.1%	$602.1M+679.4%	$77.3M+32.0%	$58.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	$0

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Operating Cash Flow	$26.6M-74.6%	$104.8M+19.1%	$88.1M+129.5%	$38.4M-27.3%	$52.8M+0.7%	$52.4M+2294.8%	-$2.4M-108.7%	$27.6M
Capital Expenditures	$605K-7.8%	$656K-14.4%	$766K+7.1%	$715K-4.3%	$747K-30.6%	$1.1M+20.2%	$896K-46.2%	$1.7M
Free Cash Flow	$26.0M-75.0%	$104.2M+19.3%	$87.3M+131.8%	$37.7M-27.6%	$52.0M+1.4%	$51.3M+1663.0%	-$3.3M-112.7%	$25.9M
Investing Cash Flow	$208.8M+222.5%	-$170.4M-7.3%	-$158.8M-1211.3%	$14.3M+505.9%	-$3.5M+97.2%	-$125.1M-153.0%	-$49.4M+81.8%	-$271.9M
Financing Cash Flow	-$97.0M-29866.0%	$326K-78.1%	$1.5M-87.9%	$12.2M+158.1%	$4.7M-46.4%	$8.8M-44.4%	$15.9M+203.8%	$5.2M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ESTC Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	74.4%+0.4pp	74.0%+1.7pp	72.3%-0.8pp	73.1%-0.4pp	73.5%+2.2pp	71.3%
Operating Margin	-3.7%+6.6pp	-10.3%+10.3pp	-20.5%-0.4pp	-20.1%+1.1pp	-21.3%+18.7pp	-40.0%
Net Margin	-7.3%-12.2pp	4.9%+27.0pp	-22.1%+1.5pp	-23.6%-2.4pp	-21.3%+17.8pp	-39.1%
Return on Equity	N/A	8.1%	N/A	N/A	N/A	N/A
Return on Assets	-4.3%-7.1pp	2.9%+16.8pp	-13.9%-0.9pp	-13.0%-4.5pp	-8.5%+11.8pp	-20.3%
Current Ratio	2.09+0.2	1.91+0.1	1.85-0.1	1.96-0.8	2.71+1.1	1.57
Debt-to-Equity	0.59-0.2	0.75-0.6	1.38-0.1	1.44+0.2	1.24+0.3	0.90
FCF Margin	17.6%+6.2pp	11.5%+8.4pp	3.1%+2.7pp	0.4%-2.7pp	3.1%+11.4pp	-8.3%

Metric	Q2'25	Q1'25	Q3'25	Q2'24	Q1'24	Q3'24	Q2'23	Q1'23
Gross Margin	75.9%-0.8pp	76.7%+2.1pp	74.6%+0.1pp	74.5%+0.9pp	73.6%-0.6pp	74.2%-0.0pp	74.2%	N/A
Operating Margin	-1.9%+0.3pp	-2.3%-1.1pp	-1.2%0.0pp	-1.2%+8.5pp	-9.7%-1.7pp	-8.1%-1.1pp	-6.9%	N/A
Net Margin	-12.1%-6.2pp	-5.9%-1.5pp	-4.5%+2.5pp	-7.0%+7.2pp	-14.2%-67.9pp	53.7%+61.7pp	-8.0%	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	24.9%	N/A	N/A
Return on Assets	-2.1%-1.1pp	-1.0%-0.2pp	-0.7%+0.4pp	-1.1%+1.1pp	-2.3%-10.8pp	8.6%+10.0pp	-1.4%	N/A
Current Ratio	1.97-0.1	2.09+0.1	2.02+0.0	1.99+0.1	1.91+0.0	1.87-0.0	1.89+0.1	1.78
Debt-to-Equity	0.64+0.1	0.59-0.1	0.66-0.0	0.70-0.0	0.75-0.1	0.80-0.4	1.25-0.2	1.42
FCF Margin	6.1%-18.9pp	25.1%+2.2pp	22.9%+12.5pp	10.3%-4.7pp	15.0%-0.7pp	15.7%+16.7pp	-1.1%	N/A

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Frequently Asked Questions

What is Elastic N.V.'s annual revenue?

Elastic N.V. (ESTC) reported $1.5B in total revenue for fiscal year 2025. This represents a 17.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Elastic N.V.'s revenue growing?

Elastic N.V. (ESTC) revenue grew by 17% year-over-year, from $1.3B to $1.5B in fiscal year 2025.

Is Elastic N.V. profitable?

No, Elastic N.V. (ESTC) reported a net income of -$108.1M in fiscal year 2025, with a net profit margin of -7.3%.

What is Elastic N.V.'s earnings per share (EPS)?

Elastic N.V. (ESTC) reported diluted earnings per share of $-1.04 for fiscal year 2025. This represents a -276.3% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Elastic N.V.'s EBITDA?

Elastic N.V. (ESTC) had EBITDA of -$42.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Elastic N.V. have?

As of fiscal year 2025, Elastic N.V. (ESTC) had $662.3M in cash and equivalents against $570.0M in long-term debt.

What is Elastic N.V.'s gross margin?

Elastic N.V. (ESTC) had a gross margin of 74.4% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Elastic N.V.'s operating margin?

Elastic N.V. (ESTC) had an operating margin of -3.7% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Elastic N.V.'s net profit margin?

Elastic N.V. (ESTC) had a net profit margin of -7.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Elastic N.V.'s free cash flow?

Elastic N.V. (ESTC) generated $261.8M in free cash flow during fiscal year 2025. This represents a 80.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Elastic N.V.'s operating cash flow?

Elastic N.V. (ESTC) generated $266.2M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Elastic N.V.'s total assets?

Elastic N.V. (ESTC) had $2.5B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Elastic N.V.'s capital expenditures?

Elastic N.V. (ESTC) invested $4.3M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How much does Elastic N.V. spend on research and development?

Elastic N.V. (ESTC) invested $365.8M in research and development during fiscal year 2025.

How many shares does Elastic N.V. have outstanding?

Elastic N.V. (ESTC) had 106M shares outstanding as of fiscal year 2025.

What is Elastic N.V.'s current ratio?

Elastic N.V. (ESTC) had a current ratio of 2.09 as of fiscal year 2025, which is generally considered healthy.

What is Elastic N.V.'s debt-to-equity ratio?

Elastic N.V. (ESTC) had a debt-to-equity ratio of 0.59 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Elastic N.V.'s return on assets (ROA)?

Elastic N.V. (ESTC) had a return on assets of -4.3% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Elastic N.V.'s Piotroski F-Score?

Elastic N.V. (ESTC) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Elastic N.V.'s earnings high quality?

Elastic N.V. (ESTC) has an earnings quality ratio of -2.46x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Elastic N.V. cover its interest payments?

Elastic N.V. (ESTC) has an interest coverage ratio of -2.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Elastic N.V.?

Elastic N.V. (ESTC) scores 64 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.