Welcome to our dedicated page for Elastic news (Ticker: ESTC), a resource for investors and traders seeking the latest updates and insights on Elastic stock.
Elastic N.V. reports developments in search AI software, observability, and security built on its Search AI Platform. Company news commonly covers Jina embedding models for text and multimodal retrieval, Elastic Inference Service availability, partner model deployments, and product integrations that bring search, classification, clustering, and data exploration into enterprise workflows.
Recurring updates also include Elastic Observability features such as Prometheus ingestion, PromQL support in Kibana, and incident investigation tools, as well as Elastic Security capabilities for XDR, SIEM, automation, and agentic security operations. Other company developments include cloud partnerships, air-gapped and sovereign-cloud deployments, federal cloud authorization, and pricing or packaging changes for security offerings.
Elastic (NYSE: ESTC) has been named the 2024 Microsoft U.S. Partner of the Year. The company was recognized for its innovative use of Microsoft technology in customer solutions, particularly through its Elastic Search AI Platform which integrates with Microsoft Azure AI Services. This platform helps customers build advanced generative AI applications, improving search accuracy and user experiences. Additionally, Elastic was a global finalist in the ISV Innovation category among 4,700 entries. The award highlights the strong partnership between Elastic and Microsoft, emphasizing their collaborative efforts to enhance AI-driven solutions while maintaining data privacy and security. The recognition will be celebrated during MCAPS Start for Partners and Microsoft Ignite events.
Elastic (NYSE: ESTC) has published its third annual sustainability report, showcasing the company's 2023 progress in integrating environmental, social, and governance (ESG) principles. Key initiatives include workplace efficiency measures to reduce environmental impact and a supplier engagement strategy for carbon reduction opportunities. A new corporate sustainability data management tool was introduced to enhance data accuracy and carbon management. Social initiatives highlighted include the launch of the 'Beehive' talent management framework and over $1 million in charitable donations. Governance improvements feature the new Elastic Trust Center for better access to security, compliance, and privacy information.
Elastic (NYSE: ESTC) has announced a new partnership with LangChain, integrating Elasticsearch's vector database and retrieval capabilities into LangChain applications. This collaboration aims to enhance the context, relevancy, and accuracy of these applications by providing advanced retrieval strategies. LangChain's co-founder, Harrison Chase, highlighted the exceptional cooperation over the past year and the potential for future feature and integration releases. Shay Banon, Elastic's CTO, emphasized the role of Elasticsearch in hybrid search and retrieval augmented generation (RAG) within the rapidly evolving GenAI space. Elastic has taken control of the code and release process through a dedicated repository.
Elastic (NYSE: ESTC) announced the donation of its Universal Profiling agent to OpenTelemetry (OTel), marking a significant milestone in profiling as the fourth telemetry signal in OTel. Elastic Universal Profiling provides whole-system, always-on, continuous profiling without code instrumentation or service restarts. It measures code efficiency in CPU utilization, CO2 emissions, and cloud costs, offering real-time insights and minimizing computational waste. This agent supports multiple runtimes and languages and will be co-maintained by Elastic’s profiling experts. This move enhances visibility and performance management for SREs, DevOps, and developers.
Elastic (NYSE: ESTC), the Search AI Company, has announced its financial results for Q4 and the full fiscal year 2024, which ended on April 30, 2024.
Q4 revenue reached $335 million, up 20% YoY, with Elastic Cloud revenue at $148 million, a 32% increase YoY.
For FY24, total revenue was $1.267 billion, a 19% increase YoY. However, GAAP operating losses were significant: $46 million for Q4 and $130 million for FY24.
Non-GAAP metrics were more favorable with $29 million in Q4 operating income and $142 million for FY24. The GAAP net loss per share for Q4 was $0.41, whereas non-GAAP diluted EPS was $0.21. Operating cash flow was strong, especially in Q4 with $61 million and adjusted free cash flow of $60 million.
Key customer metrics showed growth with over 1,330 customers having an ACV greater than $100,000. Noteworthy product innovations included the launch of the Search AI Lake and Elastic Cloud Serverless.
For Q1 FY25, Elastic expects revenue between $343 million and $345 million and for FY25, total revenue is projected to be between $1.468 billion and $1.480 billion.
Elastic (NYSE: ESTC), a leading Search AI company, announced its participation in two upcoming investor conferences. Management will present at the Bank of America Global Technology Conference on June 4, 2024, at 3:20 p.m. PT / 6:20 p.m. ET and at the Rosenblatt Technology Summit on June 13, 2024, at 12:00 p.m. PT / 3:00 p.m. ET. Live webcasts and replays of these events will be available on Elastic’s Investor Relations page.
Elastic (NYSE: ESTC) has announced that its Elasticsearch open inference API now supports integration with Microsoft's Azure AI Studio. This update allows developers to use the Elasticsearch vector database to store and utilize embeddings from various models hosted on Azure AI Studio, including those developed by OpenAI and Mistral.
Shay Banon, co-founder and CTO of Elastic, highlighted that this deeper integration provides developers within the Azure ecosystem with greater choice and flexibility. The support for Azure AI Studio aims to enhance the conversational search experience by leveraging Elasticsearch's capabilities.
Support for Azure AI Studio is available immediately, and developers are encouraged to visit the Elastic blog for more information.
Elastic (NYSE: ESTC) has announced new benchmarking results for its Elasticsearch on Azure's preview of the Cobalt 100 Arm-based virtual machines (VMs).
The benchmarking showed a performance increase of up to 37% in throughput when using Epsv6 VMs compared to the older Epsv5 VMs.
This was achieved using a macro benchmarking framework for Elasticsearch Rally with the elastic/logs track. Shay Banon, Elastic's CTO, expressed enthusiasm for the collaboration with Microsoft.
The improvements highlight Microsoft's commitment to advancing Azure infrastructure for better performance.
Elastic (NYSE: ESTC) is set to release its financial results for the fourth quarter and fiscal year 2024 on May 30, 2024. The results will be disclosed after the U.S. market closes.
The company will hold a conference call at 2:00 p.m. PT/5:00 p.m. ET to discuss the financial results and future business outlook. Investors can access the live webcast of the call through Elastic's investor relations website, with a replay available for two months.
Elastic (NYSE: ESTC) has introduced Search AI Lake, a pioneering cloud-native architecture designed for real-time, low-latency applications, including search, retrieval augmented generation (RAG), observability, and security. This architecture powers the new Elastic Cloud Serverless offering, which scales and manages workloads automatically. Key features include decoupled compute and storage for scalability, real-time query performance, and native AI inference capabilities. This innovation aims to handle high throughput, frequent updates, and large data volumes efficiently, reducing data duplication and operational costs. Search AI Lake and Elastic Cloud Serverless are available in tech preview.