Summary by Moomoo AI
Elastic reported strong Q1 FY2025 results, with total revenue reaching $347 million, up 18% YoY. Elastic Cloud revenue grew 30% YoY to $157 million. The company outperformed guidance on both revenue and profitability, demonstrating solid execution.Despite positive financial metrics, Elastic faced challenges with customer commitments due to segmentation changes implemented at the start of the year. This is expected to impact revenue for the fiscal year. However, the company remains optimistic about its market opportunity, citing significant momentum in GenAI and platform consolidation across various use cases.For Q2 FY2025, Elastic projects revenue between $353-355 million (14% YoY growth) and non-GAAP operating margin of 13%. The full-year FY2025 outlook forecasts revenue of $1.436-1.444 billion (14% YoY growth) and non-GAAP operating margin of 12.5%. Elastic continues to focus on its Search AI platform and expanding its customer base, with total subscription customers reaching approximately 21,200.
