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Elastic

ESTC Q1 2026 Earnings

Reported Aug 28, 2025 at 4:07 PM ET · SEC Source

Q1 26 EPS

$0.60

BEAT +43.40%

Est. $0.42

Q1 26 Revenue

$415.3M

BEAT +4.52%

Est. $397.3M

vs S&P Since Q1 26

-56.7%

TRAILING MARKET

ESTC -43.0% vs S&P +13.7%

Market Reaction

Did ESTC Beat Earnings? Q1 2026 Results

Elastic delivered a standout first quarter of fiscal 2026, posting non-GAAP diluted EPS of $0.60 against a consensus estimate of $0.42, a beat of 43.40%, while revenue of $415.29 million topped expectations by 4.52% and grew 19.5% year-over-year. The… Read more Elastic delivered a standout first quarter of fiscal 2026, posting non-GAAP diluted EPS of $0.60 against a consensus estimate of $0.42, a beat of 43.40%, while revenue of $415.29 million topped expectations by 4.52% and grew 19.5% year-over-year. The primary engine behind the results was accelerating cloud adoption, with Elastic Cloud revenue climbing 24% year-over-year to $195.77 million and now accounting for 47% of total revenue, up from 45% a year ago. Profitability improved sharply as well, with non-GAAP operating margin expanding to 15.7% from 10.7% in the prior-year period, and adjusted free cash flow reaching $116.04 million, good for a 28% margin. Customers with annual contract value above $100,000 grew to over 1,550 from over 1,370 a year ago, reflecting healthy enterprise momentum. Analysts have since raised price targets, with some viewing the company's 14% full-year revenue growth guidance, which calls for revenue of $1.68 billion to $1.69 billion, as conservative given Elastic's expanding AI client base, now exceeding 2,200 paying clients.

Key Takeaways

  • • 20% year-over-year revenue growth driven by subscription and cloud adoption
  • • Elastic Cloud revenue grew 24% YoY, reaching 47% of total revenue
  • • Annual Elastic Cloud grew 31% year-over-year
  • • Sales-led subscription revenue grew 22% year-over-year
  • • Net Expansion Rate of approximately 112%
  • • Customers with ACV greater than $100,000 grew to over 1,550 from over 1,370 YoY
  • • Non-GAAP operating margin expanded to 15.7% from 10.7% in the year-ago quarter
  • • Adjusted free cash flow margin of 28%, up from 18% a year ago
24/7 Wall St

ESTC YoY Financials

Q1 2026 vs Q1 2025, source: SEC Filings

24/7 Wall St

ESTC Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 26 Q4 26

“Elastic had an excellent Q1 and a strong start to the fiscal year surpassing the high end of our guidance across all metrics. Our growth was supported by the ongoing demand for our highly differentiated technology, and our sales team's solid execution. With AI now clearly shaping technology decisions, our strong performance directly demonstrates the value that the Elastic Search AI platform delivers to our customers.”

— Ash Kulkarni, Q1 2026 Earnings Press Release

Back to ESTC Stock Page