Elastic N.V. (NYSE:ESTC) shares dropped after the company released its second-quarter earnings report after Thursday's closing bell. Here's a look at the details in the report.
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The Details: Elastic reported quarterly adjusted earnings of 64 cents per share, beating the analyst estimate of 58 cents.
Quarterly revenue came in at $423.48 million, which beat the Street estimate of $418.16 million.
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Elastic reported the following second quarter highlights:
- Total subscription revenue was $398 million, an increase of 17% year-over-year, or 16% on a constant currency basis.
- Sales-led subscription revenue (calculated as subscription revenue excluding Monthly Elastic Cloud) was $349 million, an increase of 18% year-over-year, or 17% on a constant currency basis.
- Elastic Cloud revenue was $206 million, an increase of 22% year-over-year, as reported and on a constant currency basis.
- Current remaining performance obligations were $971 million, an increase of 17% year-over-year, or 15% on a constant currency basis.
“Q2 was an outstanding quarter for Elastic. We beat the high end of our guidance across all metrics. Our strength was driven by robust growth across the company with AI positively impacting all areas of our business,” said Ash Kulkarni, CEO of Elastic.
Outlook: Elastic raised its fiscal 2026 adjusted EPS guidance to a range of $2.40 to $2.46, versus the $2.36 estimate and raised its revenue guidance to a range of $1.715 billion to $1.721 billion, versus the $1.7 billion estimate.
ESTC Stock Price: According to data from Benzinga Pro, Elastic stock was down 11.73% at $72.45 in Thursday's extended trading.
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