NYSE$ESTC
Elastic NV · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported second quarter fiscal 2023 financial results with revenue of $264.4 million.
Elastic's Q2 2023 results exceeded revenue and profitability targets, with revenue growing 34% year-over-year in constant currency. The company is implementing cost optimization actions to align investments with strategic priorities, expecting to accelerate non-GAAP operating income growth and achieve a 10% non-GAAP operating margin in fiscal 2024.
- Total revenue was $264.4 million, an increase of 28% year-over-year, or 34% on a constant currency basis.
- Elastic Cloud revenue was $103.2 million, an increase of 50% year-over-year, or 52% on a constant currency basis.
- GAAP operating loss was $49.0 million; GAAP operating margin was -18%.
- Non-GAAP operating income was $4.9 million; non-GAAP operating margin was 2%.
Headline financials
Revenue & EPS history
Elastic · Revenue · Quarterly
$264M
Revenue by segment
Elastic · $264M total across 3 segments · Q2 2023
- Other Subscription$138M+13.8%52.2%
- Elastic Cloud$103M+49.6%39.0%
- Services$23.2M+47.5%8.8%
Forward guidance
The Company expects the following results for the third quarter of fiscal 2023 and is updating its prior full-year fiscal 2023 guidance as follows:
Tailwinds
- Total revenue is expected to be between $272 million and $274 million, representing 22% year-over-year growth at the midpoint (26% year-over-year constant currency growth at the midpoint)
- Non-GAAP operating margin is expected to be between 4.3% and 4.7%
- Non-GAAP earnings per share is expected to be between $0.04 and $0.07, assuming between 98.5 million and 99.5 million diluted weighted average ordinary shares outstanding
- Total revenue is expected to be between $1,067 million and $1,073 million, representing 24% year-over-year growth at the midpoint (28% year-over-year constant currency growth at the midpoint)
- Non-GAAP earnings per share is expected to be between -$0.03 and $0.03, assuming between 95.0 million and 97.0 million basic weighted average ordinary shares outstanding and 98.5 million and 100.5 million diluted weighted average ordinary shares outstanding
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 Q2 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 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro