Elastic(ESTC) - 2024 Q4 - Annual Results

Revenue Growth - Q4 revenue was $335 million, up 20% year-over-year, with Elastic Cloud revenue at $148 million, up 32% year-over-year[1][5] - FY24 total revenue reached $1.267 billion, an increase of 19% year-over-year, with Elastic Cloud revenue at $548 million, up 29% year-over-year[1][5] - For Q1 FY25, total revenue is expected to be between $343 million and $345 million, representing 17% year-over-year growth at the midpoint[10] - For FY25, total revenue is projected to be between $1.468 billion and $1.480 billion, indicating 16% year-over-year growth at the midpoint[10] - Total revenue for the three months ended April 30, 2024, was $334,999,000, representing a 19.6% increase from $279,941,000 in the same period of 2023[27] - Subscription revenue increased to $310,984,000 for the three months ended April 30, 2024, up 21.5% from $256,124,000 in the prior year[27] - Total subscription revenue for the year ended April 30, 2024, was $1,176,606,000, a 19% increase year-over-year[35] - Elastic Cloud revenue reached $147,980,000 for the three months ended April 30, 2024, representing a 32% year-over-year increase[35] Profitability and Loss - GAAP operating loss for Q4 was $46 million, with a GAAP operating margin of -14%; non-GAAP operating income was $29 million, with a non-GAAP operating margin of 9%[5] - Operating loss for the three months ended April 30, 2024, was $(45,712,000), compared to $(40,156,000) in the same period of 2023[27] - Net loss for the three months ended April 30, 2024, was $(41,100,000), an improvement from $(46,731,000) in the prior year[27] - GAAP net loss for the three months ended April 30, 2024, was $41,100,000, an improvement from a loss of $46,731,000 in the same quarter last year[39] - Non-GAAP net income for the year ended April 30, 2024, was $123,568,000, compared to $25,253,000 in 2023[39] - Non-GAAP diluted earnings per share for Q1 FY25 is expected to be between $0.24 and $0.26[11] - Non-GAAP earnings per share for the three months ended April 30, 2024, was $0.22, slightly down from $0.23 in the same period last year[39] Customer Metrics - Total customer count with Annual Contract Value (ACV) greater than $100,000 increased to over 1,330, up from over 1,270 in Q3 FY24[6] - Net Expansion Rate was approximately 110%[6] Cash and Assets - Cash and cash equivalents as of April 30, 2024, were $540,397,000, down from $644,167,000 as of April 30, 2023[29] - Total current assets increased to $1,530,897,000 as of April 30, 2024, compared to $1,274,280,000 in the previous year[29] - Total liabilities as of April 30, 2024, were $1,504,381,000, compared to $1,344,585,000 as of April 30, 2023[29] - Net cash provided by operating activities for the three months ended April 30, 2024, was $60,948,000, compared to $27,555,000 in the same period of 2023[31] - Adjusted free cash flow for the three months ended April 30, 2024, was $60,103,000, compared to $25,890,000 in the same period last year[37] Recognition and Innovation - The company introduced the first-of-its-kind Search AI Lake and launched Elastic Cloud Serverless for search[9] - Elastic was awarded Google Cloud Partner of the Year for the fourth time and recognized as one of Fast Company's Most Innovative Companies in the enterprise category[9] Deferred Revenue - Deferred revenue increased to $663,846,000 as of April 30, 2024, up from $528,704,000 in the same period of 2023[29] - Total deferred revenue increased to $694,139,000, a 23% year-over-year rise[35]