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 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.
Elastic (NYSE: ESTC) will issue its financial results for Q2 fiscal 2023, ending on October 31, 2022, after the U.S. market closes on November 30, 2022. A conference call is scheduled for 2:00 p.m. PT / 5:00 p.m. ET to discuss these results and provide a business outlook. Interested parties can access a live webcast on Elastic's investor relations site, with a replay available for two months. As a leader in search-powered solutions, Elastic aims to enhance search experiences and ensure the smooth operation of critical applications.
Elastic (NYSE: ESTC) released the 2022 Global Threat Report, highlighting the evolving challenges in cybersecurity and identifying key risks associated with cloud security, particularly human error and credential access. The report shows that 33% of cloud attacks exploit credential access, with AWS providing the majority of telemetry data. Notably, CobaltStrike was responsible for 35% of Windows detections, underscoring the use of defensive tools by malicious actors. The findings stress the need for improved security strategies to combat increasingly sophisticated attacks.
Elastic (NYSE: ESTC) has appointed Barrie Sheers as Vice President for Asia-Pacific and Japan, aiming to accelerate business and cloud growth. Based in Singapore, Sheers will report to Chief Sales Officer Michael Cremen and focus on strategic initiatives and customer value. With over 20 years of experience, including roles at Microsoft and Dell, Sheers is expected to leverage his expertise to enhance customer relationships and drive growth in the rapidly evolving cloud market.