Logo

ESTC

Elastic N.V.

ESTC

Elastic N.V. • NYSE
$70.53 ▲ 0.84% (+0.59)
Market Cap $7.44 B
52w High $118.84
52w Low $68.10
Dividend Yield 0%
P/E -69.15
Volume 861.73K
Outstanding Shares 105.42M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2026 $423.481M ▲ $329.69M ▲ $-51.284M ▼ -12.11% ▼ $-0.48 ▼ $10.494M ▲
Q1-2026 $415.288M ▲ $327.982M ▲ $-24.603M ▼ -5.924% ▼ $-0.23 ▼ $8.658M ▲
Q4-2025 $388.432M ▲ $302.667M ▲ $-16.381M ▲ -4.217% ▲ $-0.16 $3.433M ▼
Q3-2025 $382.083M ▲ $289.569M ▲ $-17.056M ▲ -4.464% ▲ $-0.16 ▲ $12.832M ▲
Q2-2025 $365.361M $276.608M $-25.45M -6.966% $-0.25 $8.245M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2026 $1.396B ▼ $2.477B ▼ $1.585B ▲ $891.112M ▼
Q1-2026 $1.494B ▲ $2.524B ▼ $1.553B ▼ $971.356M ▲
Q4-2025 $1.397B ▲ $2.593B ▲ $1.666B ▲ $927.234M ▲
Q3-2025 $1.284B ▲ $2.33B ▲ $1.471B ▲ $859.106M ▲
Q2-2025 $1.198B $2.232B $1.42B $811.518M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2026 $-51.284M ▼ $26.612M ▼ $208.78M ▲ $-97.037M ▼ $138.064M ▲ $26.007M ▼
Q1-2026 $-24.603M ▼ $104.835M ▲ $-170.375M ▼ $326K ▼ $-65.224M ▼ $104.179M ▲
Q4-2025 $-16.381M ▲ $86.979M ▼ $29.343M ▲ $22.47M ▲ $143.607M ▲ $84.862M ▼
Q3-2025 $-17.056M ▲ $88.058M ▲ $-158.778M ▼ $1.486M ▼ $-74.221M ▼ $87.292M ▲
Q2-2025 $-25.45M $38.377M $14.287M $12.246M $63.521M $37.662M

Revenue by Products

Product Q2-2025Q3-2025Q4-2025Q1-2026
Professional Services
Professional Services
 $20.00M ▲$20.00M ▲$30.00M ▲$30.00M ▲
Saa S Self Managed
Saa S Self Managed
 $0 ▲$0 ▲$0 ▲$200.00M ▲
Self Managed Subscription
Self Managed Subscription
 $0 ▲$0 ▲$0 ▲$190.00M ▲
Subscription
Subscription
 $340.00M ▲$360.00M ▲$360.00M ▲$390.00M ▲

Five-Year Company Overview

Income Statement

Income Statement Elastic’s revenue has been climbing at a healthy pace over the last several years, and gross profit has grown alongside it, showing the underlying business has attractive economics. At the same time, the company is still operating with a loss at the operating and net income levels, though those losses have generally been narrowing as it scales. There was a brief move into profitability recently, followed by a return to modest losses, which points to progress but also to some volatility in performance. Overall, the picture is of a business moving toward sustainable profitability, but not there yet and still sensitive to spending levels and growth investments.

Balance Sheet

Balance Sheet The balance sheet shows a company that has grown its asset base substantially while maintaining a solid cash position. Cash on hand is sizeable relative to its debt, leaving Elastic with a net cash cushion rather than being heavily leveraged. Shareholders’ equity has been building over time, which suggests the business is accumulating value rather than eroding it. The main risks are the presence of meaningful debt that still needs to be managed carefully and the typical reliance on intangible assets and stock-based compensation common in software firms, which can dilute shareholders over time.

Cash Flow

Cash Flow Elastic’s cash flow story is stronger than its accounting profits suggest. Operating cash flow has steadily improved from roughly break-even levels to clearly positive territory, indicating the core business now generates cash rather than consuming it. Free cash flow has tracked this trend and has also turned consistently positive, helped by relatively light capital spending typical of a software and cloud company. This pattern suggests that, despite reported earnings volatility, the business model is becoming more self-funding and less dependent on external capital, assuming current trends continue.

Competitive Edge

Competitive Edge Elastic holds a strong position in enterprise search and a growing, but more contested, presence in observability and security. Its open-source roots and large developer community give it broad adoption and a steady stream of integrations and ecosystem support. The unified Elastic platform—covering search, observability, and security in one place—is a key differentiator versus point-solution rivals, and its multi-cloud flexibility reduces customer lock-in. However, competition is intense: it faces focused observability players like Datadog, security specialists, and large cloud providers, so continued execution and product differentiation are critical to maintaining and expanding its moat.

Innovation and R&D

Innovation and R&D Innovation is a central pillar for Elastic, with heavy emphasis on search, analytics, and AI-driven capabilities. The company is pushing hard into generative AI, vector search, and retrieval-augmented generation use cases, aiming to make its platform a foundation for AI-powered applications. It is also re-architecting its cloud offering toward a serverless, more elastic model that could improve cost efficiency and scalability for customers, if executed well. In observability and security, Elastic is layering in AI-driven features to automate detection, diagnostics, and response, which could deepen customer reliance on the platform. The main uncertainty is whether the company can move fast enough and execute these ambitious initiatives in the face of aggressive, well-funded competition.

Summary

Overall, Elastic looks like a fast-growing software platform business that is transitioning from a growth-at-all-costs phase toward more disciplined, cash-generative operations. Revenue and gross profit trends are encouraging, and cash flows are now a clear strength, even as reported earnings remain somewhat volatile and occasionally negative. The balance sheet is reasonably strong with net cash and growing equity, giving it room to keep investing. Competitively, Elastic enjoys a notable edge in search and a promising, but more contested, position in observability and security, where it faces serious rivals. Its future trajectory will largely depend on how well it can capitalize on AI and serverless cloud trends while defending and extending its existing footholds in a crowded, fast-moving market.

NEWS

November 25, 2025 · 4:30 PM UTC

Elastic to Present at Upcoming Investor Conference

Read more

November 20, 2025 · 4:05 PM UTC

Elastic Reports Second Quarter Fiscal 2026 Financial Results

Read more

November 14, 2025 · 4:30 PM UTC

Elastic Named a Leader in 2025 IDC MarketScape for Worldwide Observability Platforms

Read more

November 14, 2025 · 1:28 PM UTC

Elastic Named a Leader in 2025 IDC MarketScape for Worldwide General-Purpose Knowledge Discovery

Read more

November 11, 2025 · 5:56 PM UTC

Elastic Simplifies OpenTelemetry SDK Management

Read more