Elastic N.V. Reports 17% Revenue Growth to $1.739 Billion for Fiscal Year Ending April 30, 2026

Elastic N.V. reported a significant increase in its financial performance for the fiscal year ending April 30, 2026, with total revenue reaching $1.739 billion, up 17% from $1.483 billion in the previous year. Subscription revenue, which constitutes 94% of total revenue, grew to $1.634 billion, reflecting an 18% increase driven by strong adoption of both Elastic Cloud and other subscription offerings. The company achieved a net income of $367.8 million, a notable recovery from a net loss of $108.1 million in the prior fiscal year, primarily due to the release of valuation allowances against deferred tax assets.

In terms of operational metrics, Elastic expanded its customer base to approximately 24,000, up from 21,500 the previous year. The company reported over 1,720 customers spending more than $100,000 annually and more than 240 customers exceeding $1 million in annual contract value. The Net Expansion Rate was approximately 112% as of April 30, 2026, indicating that existing customers are increasing their spending on Elastic's offerings. The company also noted that 46% of its revenue came from international customers, up from 42% in the previous year, highlighting its geographic expansion efforts.

Strategically, Elastic made two acquisitions during the fiscal year: Conic AI Technology Limited and Paladin Data Inc., aimed at enhancing its AI capabilities and security offerings. The company continues to invest heavily in research and development, with expenses rising to $451.9 million, a 24% increase from the previous year, as it seeks to innovate and expand its product offerings. Additionally, Elastic has maintained a share repurchase program, having repurchased approximately 4.4 million shares for $340 million, with $160 million remaining under the program.

Looking ahead, Elastic acknowledges the potential impact of macroeconomic conditions, including inflation and geopolitical tensions, on its business. The company plans to continue its focus on expanding its product offerings and customer base while managing costs effectively. Despite the positive financial results, Elastic remains cautious about future profitability, given its history of operating losses and the ongoing investments required to support growth initiatives. The company believes its existing cash and marketable securities, totaling $1.370 billion, will be sufficient to fund operations for at least the next 12 months.