NYSE$ESTC
Elastic NV · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Announced strong financial results for the first quarter of fiscal 2023, with significant revenue growth and continued focus on Elastic Cloud.
Elastic reported a strong Q1 with a 30% year-over-year increase in total revenue, reaching $250.1 million. Elastic Cloud revenue grew by 59% year-over-year, representing 39% of the total revenue. The company is raising its constant-currency revenue growth guidance for the year and remains confident in achieving $2 billion in total revenue in fiscal year 2025.
- Total revenue was $250.1 million, up 30% year-over-year (34% in constant currency).
- Elastic Cloud revenue was $97.7 million, up 59% year-over-year (62% in constant currency).
- Total subscription customer count was over 19,300.
- Net Expansion Rate was just under 130%.
Headline financials
Revenue & EPS history
Elastic · Revenue · Quarterly
$250M
Revenue by segment
Elastic · $250M total across 3 segments · Q1 2023
- Other Subscription$134M+15.9%53.6%
- Elastic Cloud$97.7M+58.8%39.1%
- Services$18.3M+14.8%7.3%
Forward guidance
For the second quarter of fiscal 2023, total revenue is expected to be between $260 million and $262 million, representing 27% year-over-year growth at the midpoint (32% year-over-year constant currency growth at the midpoint). For fiscal 2023, total revenue is expected to be between $1,080 million and $1,086 million, representing 26% year-over-year growth at the midpoint (30% year-over-year constant currency growth at the midpoint).
Tailwinds
- Total revenue is expected to be between $260 million and $262 million for Q2 2023.
- Revenue growth of 27% year-over-year is expected for Q2 2023.
- Constant currency revenue growth of 32% is expected for Q2 2023.
- Total revenue is expected to be between $1,080 million and $1,086 million for fiscal year 2023.
- Revenue growth of 26% year-over-year is expected for fiscal year 2023.
Headwinds
- Non-GAAP operating margin is expected to be between -0.6% and -0.2% for Q2 2023.
- Non-GAAP net loss per share is expected to be between $0.11 and $0.09 for Q2 2023.
- Currency changes may negatively impact revenue.
- Uncertainty regarding costs and expenses may impact GAAP measures.
- Actual outcomes may differ materially due to various risks and uncertainties.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2023
+0.2%
Avg return
Earnings day
-0.4%
Avg return
5 days after
-2.5%
Avg return
30 days after
40%
12 / 30 earnings
Positive
+38.4%
Q2 2024
Best reaction
-26.0%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | — | — | — | |
| Q3 2026 | -15.4% | -15.8% | -21.2% | |
| Q2 2026 | -15.6% | -14.8% | -6.9% | |
| Q1 2026 | -3.1% | -1.7% | -2.1% | |
| Q4 2025 | -12.1% | -8.9% | -10.1% | |
| Q3 2025 | +14.9% | +8.2% | -9.5% | |
| Q2 2025 | +22.0% | +25.9% | +17.0% | |
| Q1 2025 | -26.0% | -28.9% | -24.9% | |
| Q4 2024 | +1.7% | +0.7% | +11.3% | |
| Q3 2024 | -9.8% | -16.4% | -22.7% | |
| Q2 2024 | +38.4% | +45.2% | +41.5% | |
| Q1 2024 | +22.2% | +23.5% | +33.7% | |
| Q4 2023 | -0.7% | -1.9% | -11.9% | |
| Q3 2023 | +10.7% | +6.3% | +0.3% | |
| Q2 2023 | -3.1% | -11.3% | -12.7% | |
| Q1 2023 | -0.2% | +1.9% | -18.1% | |
| Q4 2022 | +19.4% | +20.2% | +15.5% | |
| Q3 2022 | -6.8% | -11.2% | +8.0% | |
| Q2 2022 | -23.9% | -28.9% | -20.8% | |
| Q1 2022 | -3.4% | +0.3% | +4.9% | |
| Q4 2021 | +9.7% | +12.0% | +23.8% | |
| Q3 2021 | -14.0% | -5.3% | -27.5% | |
| Q2 2021 | +11.8% | +17.1% | +21.0% | |
| Q1 2021 | +6.5% | +4.1% | +2.0% | |
| Q4 2020 | -3.3% | -7.4% | +6.6% | |
| Q3 2020 | +8.7% | +10.0% | -18.9% | |
| Q2 2020 | -17.4% | -19.9% | -15.0% | |
| Q1 2020 | +11.5% | +10.4% | +4.2% | |
| Q4 2019 | -1.7% | -2.7% | -3.9% | |
| Q3 2019 | -6.9% | -7.3% | -17.8% | |
| Q2 2019 | -8.1% | -15.7% | -21.9% | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2017 | — | — | — | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — |
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