Elastic N.V
Q4 2026 Earnings
Market Reaction
S&P 500 over the same 30 days: −1.42%.
Did ESTC Beat Earnings? Q4 2026 Results
Elastic closed out fiscal 2026 on a high note, reporting Q4 revenue of $450.68 million, up 16% year-over-year and ahead of the $446.20 million consensus estimate, while non-GAAP diluted EPS of $0.61 beat the $0.56 consensus by 8.43%. The primary engine behind the quarter was Elastic Cloud, which generated $217.36 million in revenue, growing 20% year-over-year, with the Annual Elastic Cloud component accelerating 26% to $169.60 million, underscoring deepening customer commitment to the platform. Current remaining performance obligations climbed 20% to $1.20 billion, while total RPO surged 28% to $1.98 billion, providing strong forward revenue visibility. The company also generated $149.81 million in adjusted free cash flow during the quarter, a 33% margin. Looking ahead, Elastic guided full-year FY27 revenue of $1.99 billion to $2.00 billion, with non-GAAP operating margin expected to expand to approximately 19%, though some analysts have flagged competitive pressure from bundled AI and hyperscaler solutions as a potential headwind to long-term growth.
- Annual Elastic Cloud revenue grew 26% YoY, driving overall cloud growth
- Sales-led subscription revenue grew 19% YoY
- Current RPO grew 20% YoY and total RPO grew 28% YoY, indicating accelerating commitments
- Net expansion rate of approximately 112%
- Customer count with ACV >$100K grew to over 1,720 from 1,510 a year ago
“Elastic delivered a strong finish to the year, beating our guidance across all key metrics. Organizations are increasingly abandoning fragmented legacy applications to consolidate onto our high-performance platform for search, security, and observability. Customers are making larger commitments to Elastic over longer periods of time as we become a critical part of their AI infrastructure, accelerating our cRPO and RPO growth in Q4, setting us up for ongoing success.”
Elastic CEO, on the earnings call
Forward Guidance & Outlook
For Q1 FY27 (ending July 31, 2026): Total revenue expected between $469M and $470M (13.1% YoY growth at midpoint); sales-led subscription revenue between $392M and $393M (15.9% growth at midpoint); non-GAAP operating margin of approximately 14.0%; non-GAAP diluted EPS of $0.57 to $0.59. For full FY27 (ending April 30, 2027): Total revenue expected between $1.985B and $2.000B (14.6% growth at midpoint); sales-led subscription revenue between $1.673B and $1.688B (16.9% growth at midpoint); non-GAAP operating margin of approximately 19.0%; non-GAAP diluted EPS of $3.21 to $3.29; adjusted free cash flow margin of approximately 21.5%.
ESTC YoY Financials
ESTC Revenue by Segment
Figures from SEC filings and company reports. Not investment advice.