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) reported its financial results for Q3 FY2023, revealing a total revenue of $275 million, marking a 23% increase year-over-year (or 27% in constant currency). Elastic Cloud revenue reached $111 million, up 38% year-over-year. GAAP operating loss was $69 million with a -25% operating margin, while non-GAAP operating income stood at $22 million, yielding an 8% margin. The company holds $878 million in cash reserves. Total subscription customers increased to approximately 19,900. Guidance for Q4 FY2023 estimates revenue of $276-$278 million and non-GAAP EPS between $0.08 and $0.10.
Elastic (NYSE: ESTC) will present at the Morgan Stanley Technology, Media & Telecom Conference on March 6, 2023, at 3:20 p.m. PT / 6:20 p.m. ET. The event will showcase Elastic's advancements in search-powered solutions, including Enterprise Search, Observability, and Security. A live webcast and replay will be accessible via Elastic's Investor Relations page. Elastic aims to enhance customer experience and application performance while safeguarding against cyber threats. For more information, visit ir.elastic.co.
Elastic (NYSE: ESTC) will announce its financial results for Q3 fiscal 2023 on March 2, 2023, after market close. The results cover the period ending January 31, 2023. A conference call will take place at 2:00 p.m. PT/5:00 p.m. ET the same day to discuss the results and business outlook, with a live webcast accessible on Elastic's investor relations website. Elastic is recognized for its search-powered solutions in Enterprise Search, Observability, and Security, aiming to enhance user experiences and safeguard applications in various environments, be it cloud or on-premise.
Elastic (NYSE: ESTC) has appointed Mathew Donoghue as Chief Marketing Officer, effective February 13, 2023. Donoghue, with extensive experience in cybersecurity marketing, will lead the global marketing team to drive demand generation within the company's $88 billion total addressable market. Prior to Elastic, he served as Senior Vice President at Palo Alto Networks, contributing to significant growth initiatives. CEO Ash Kulkarni praised Donoghue's ability to enhance marketing strategies and accelerate company growth as Elastic prepares for the next phase of its expansion.
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Elastic (NYSE: ESTC) has been recognized as a Strong Performer by Forrester Research in its The Forrester Wave™: Artificial Intelligence For IT Operations, Q4 2022 report. The evaluation analyzed 11 vendors across 35 criteria, with Elastic achieving top scores in 13 areas including data collection and dashboard capabilities. The report highlights Elastic's robust data management and machine learning functionalities, which are essential for observing complex environments. Elastic's solutions cater to over 19,000 customers, providing comprehensive operational visibility and problem resolution.
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Elastic (NYSE: ESTC) has been recognized as a Major Player in the IDC MarketScape: Worldwide SIEM 2022 Vendor Assessment. This acknowledgment highlights their cloud, endpoint, automation, and SIEM tools as unified strengths. Elastic's platform offers a centralized view for threat detection and response, leveraging over 700 detection rules and more than 60 machine learning models. The report emphasizes Elastic's commitment to transparency and community support through an open GitHub repository.
Elastic (NYSE: ESTC) reported Q2 fiscal 2023 revenue of $264.4 million, a 28% increase year-over-year (34% on a constant currency basis). Elastic Cloud revenue surged 50% to $103.2 million. GAAP operating loss stood at $49.0 million, with a non-GAAP operating income of $4.9 million. The company announced a workforce reduction and cost optimizations to drive profitable growth, aiming for a 10% non-GAAP operating margin in fiscal 2024. The total subscription customer count rose to 19,700, while the net expansion rate was approximately 125%.
Elastic (NYSE: ESTC), the developer of Elasticsearch and the Elastic Stack, announced that CEO Ash Kulkarni will present at the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2022, at 11:00 a.m. PT / 2:00 p.m. ET. A live webcast will be available on Elastic’s Investor Relations page, with a replay accessible for two months.
Elastic is recognized for its search-powered solutions, offering services in Enterprise Search, Observability, and Security, enabling organizations to enhance search experiences and protect against threats.