Elastic N.V
Q1 2027 Earnings
Includes $19.9 million in restructuring and other related charges excluded from non-GAAP EPS
Market Reaction
Did ESTC Beat Earnings? Q1 2027 Results
Elastic N.V. delivered a strong beat across the board in Q1 FY2027, posting adjusted non-GAAP EPS of $0.70 against a consensus estimate of $0.58, a 19.84% positive surprise that extended the company's streak of beating consensus EPS estimates to four consecutive quarters. Revenue of $478.11 million grew 15.1% year-over-year and edged past the $469.66 million consensus by 1.80%, with the outperformance anchored by accelerating cloud momentum; Elastic Cloud revenue climbed 27% year-over-year to $185.00 million, the fastest-growing segment in the portfolio. Current remaining performance obligations rose 21% to $1.15 billion, reinforcing visibility into future demand at a time when the company's AI buildout and expanded collaboration with OpenAI have lifted investor sentiment considerably. The quarter also included $19.92 million in restructuring charges excluded from non-GAAP results, which contributed to a wider GAAP operating loss. Looking ahead, Elastic guided Q2 revenue of $486 to $487 million and full-year FY2027 revenue of $2.00 to $2.01 billion, with non-GAAP EPS of $3.29 to $3.37.
- Annual Elastic Cloud revenue grew 27% YoY, the fastest-growing segment
- Record quarter-over-quarter net customer additions to >$100K ACV cohort
- cRPO grew 21% YoY to $1.153 billion, RPO grew 27% to $1.854 billion
- Sales-led subscription revenue grew 18% YoY
- Net Expansion Rate of approximately 111%
“Elastic delivered a strong start to fiscal 2027, beating our guidance across all key metrics. AI is reshaping the enterprise technology stack, and organizations are making deliberate choices about where to build and how to observe and secure their applications and data. Our record quarter-over-quarter net customer additions to our >$100K ACV cohort and continued strength in cRPO and RPO growth reflect the durability of that demand. We enter the year with growing momentum across Search & AI, Security, and Observability and confidence in the trajectory of our business.”
Elastic CEO, on the earnings call
Forward Guidance & Outlook
For Q2 FY2027, Elastic expects total revenue of $486-$487 million (14.9% YoY growth at midpoint), non-GAAP operating margin of approximately 19.0%, and non-GAAP diluted EPS of $0.80-$0.82. GAAP operating margin is expected to be positive. For full-year FY2027, the company guides total revenue of $1.998-$2.010 billion (15.2% YoY growth at midpoint), sales-led subscription revenue of $1.682-$1.694 billion (17.4% growth at midpoint), non-GAAP operating margin of approximately 19.4%, non-GAAP diluted EPS of $3.29-$3.37, and adjusted free cash flow margin of approximately 21.5%. Guidance assumes exchange rates of 1 EUR = 1.166 USD and 1 GBP = 1.361 USD.
ESTC YoY Financials
ESTC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.