Elastic (ESTC) Earnings Date & Reports

Key Takeaways

• Q4 total revenue reached $451 million, up 16% year-over-year.
• Fiscal 2026 full-year revenue totaled $1.739 billion, up 17% year-over-year.
• Non-GAAP operating margin improved to 14.8% in Q4 and 16.4% for the full year.
• Non-GAAP diluted EPS came in at $0.61 for Q4 and $2.57 for fiscal 2026.
• Remaining performance obligations grew 28% year-over-year to $1.982 billion.
• Company provided fiscal 2027 guidance with expected revenue growth of approximately 14.6%.

Earnings Context and Why It Matters

Elastic N.V. reports results on a fiscal year ending April 30. The fourth quarter and full fiscal 2026 results mark the completion of the company’s transition into a Search AI platform focused on search, observability, and security. Investors closely monitor these reports for signs of accelerating adoption of Elastic’s platform amid broader AI infrastructure spending. Prior quarters showed steady double-digit growth, and this report provides insight into whether momentum continued through the end of the fiscal year.

Reported Results

Elastic reported fourth-quarter total revenue of $451 million, a 16% increase year-over-year (14% in constant currency). Subscription revenue rose 17% to $422 million. Sales-led subscription revenue grew 19% to $375 million. Non-GAAP operating income reached $67 million for a 14.8% margin. GAAP diluted EPS was $4.14, while non-GAAP diluted EPS was $0.61. Operating cash flow totaled $153 million.

For the full fiscal year, revenue reached $1.739 billion, up 17% year-over-year. Non-GAAP operating margin expanded to 16.4%, and non-GAAP diluted EPS was $2.57. The company noted it beat guidance across all key metrics. Current remaining performance obligations stood at $1.203 billion, up 20% year-over-year.

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Market Reaction and Investor Sentiment

The earnings release followed the close of trading on May 28, 2026. Results showed continued revenue growth and margin expansion while exceeding internal guidance. Key drivers included strong growth in remaining performance obligations and customer expansion, with more than 1,720 customers exceeding $100,000 in annual contract value. Market participants focused on the company’s raised visibility into fiscal 2027 and ongoing platform consolidation trends.

Forward Outlook and Key Factors to Monitor

Elastic issued guidance for fiscal 2027. First-quarter revenue is expected between $469 million and $470 million. Full-year revenue guidance ranges from $1.985 billion to $2.000 billion, representing about 14.6% growth at the midpoint.

Non-GAAP operating margin is projected at approximately 19.0% for the full year, with adjusted free cash flow margin near 21.5%. Sales-led subscription revenue is expected to grow faster than overall revenue.

Investors should watch customer metrics such as net expansion rate and the count of large accounts. Product updates around observability, security, and AI embedding models may influence adoption. Currency fluctuations, competitive dynamics in the AI and observability markets, and execution on share repurchases remain relevant areas to follow.

Disclaimer

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