Elastic NV · Q3 2023 earnings

Briefing

Reported third quarter fiscal 2023 financial results with revenue up 23% year-over-year (27% in constant currency).

Elastic announced strong Q3 fiscal 2023 results, with total revenue of $275 million, up 23% year-over-year (27% in constant currency). Elastic Cloud revenue reached $111 million, a 38% increase year-over-year (40% in constant currency). The company delivered stronger than expected non-GAAP operating margin amidst a challenging macro environment.

• Total revenue was $275 million, an increase of 23% year-over-year, or 27% on a constant currency basis
• Elastic Cloud revenue was $111 million, an increase of 38% year-over-year, or 40% on a constant currency basis
• GAAP operating loss was $69 million; GAAP operating margin was -25%
• Non-GAAP operating income was $22 million; non-GAAP operating margin was 8%

Headline financials

Revenue & EPS history

For the fourth quarter of fiscal 2023, total revenue is expected to be between $276 million and $278 million, representing 16% year-over-year growth at the midpoint (18% year-over-year constant currency growth at the midpoint). Non-GAAP operating margin is expected to be between 4.8% and 5.2%. Non-GAAP earnings per share is expected to be between $0.08 and $0.10.