Fri, Aug 30, 8:19 PM (137 days ago)
For the quarter ending July 31, 2024, Elastic N.V. reported total revenue of $347.4 million, an 18% increase year-over-year, primarily driven by a 20% rise in subscription revenue, which constituted 93% of total revenue. Elastic Cloud's contribution grew to 45% of total revenue, reflecting a 30% increase. Gross profit improved to $255.7 million, maintaining a gross margin of 74%. Operating expenses rose to $289.5 million, leading to an operating loss of $33.8 million, slightly better than the previous year's loss of $36.2 million. The net loss widened to $49.2 million, reflecting a higher tax provision of $20.1 million, influenced by increased taxable income in various jurisdictions. Cash flow from operations was robust at $52.8 million, supported by significant non-cash adjustments. The company holds $1.15 billion in cash and marketable securities, indicating strong liquidity, although it continues to face uncertainties from macroeconomic conditions affecting customer spending. Future growth is expected to focus on expanding Elastic Cloud offerings and enhancing user engagement within the developer community.