Elastic N.V. Files 10-Q for Period Ending January 31, 2024

Ticker: ESTC · Form: 10-Q · Filed: Mar 1, 2024 · CIK: 1707753

Elastic N.V. 10-Q Filing Summary
FieldDetail
CompanyElastic N.V. (ESTC)
Form Type10-Q
Filed DateMar 1, 2024
Risk Levellow
Pages15
Reading Time18 min
Sentimentneutral

Sentiment: neutral

Topics: Elastic N.V., 10-Q, Quarterly Report, Financials, Fiscal Year 2024

TL;DR

<b>Elastic N.V. has filed its Q3 FY2024 10-Q report, detailing financial performance and operational status.</b>

AI Summary

Elastic N.V. (ESTC) filed a Quarterly Report (10-Q) with the SEC on March 1, 2024. Elastic N.V. filed a 10-Q report for the period ending January 31, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on April 30. Elastic N.V. is incorporated in P7. The company's business address is in Amsterdam, with a mail address in Mountain View, CA.

Why It Matters

For investors and stakeholders tracking Elastic N.V., this filing contains several important signals. This filing provides investors with the latest financial data and insights into Elastic N.V.'s performance for the third quarter of fiscal year 2024. Understanding the details within this 10-Q is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: low — Elastic N.V. shows low risk based on this filing. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new risks or material changes that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Elastic N.V.'s performance and outlook.

Key Numbers

  • 2024-01-31 — Reporting Period End Date (Conformed Period of Report)
  • 2024-03-01 — Filing Date (Filed as of Date)
  • 0430 — Fiscal Year End (Fiscal Year End)
  • 2024 — Fiscal Year (Fiscal Year)

Key Players & Entities

  • Elastic N.V. (company) — Filer
  • 2024-01-31 (date) — Conformed Period of Report
  • 2024-03-01 (date) — Filed as of Date
  • 0001707753-24-000006 (filing) — Accession Number
  • 7372 (industry_code) — Standard Industrial Classification
  • P7 (location) — State of Incorporation
  • 0430 (date) — Fiscal Year End
  • 001-38675 (filing) — SEC File Number

FAQ

When did Elastic N.V. file this 10-Q?

Elastic N.V. filed this Quarterly Report (10-Q) with the SEC on March 1, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Elastic N.V. (ESTC).

Where can I read the original 10-Q filing from Elastic N.V.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Elastic N.V..

What are the key takeaways from Elastic N.V.'s 10-Q?

Elastic N.V. filed this 10-Q on March 1, 2024. Key takeaways: Elastic N.V. filed a 10-Q report for the period ending January 31, 2024.. The filing covers the third quarter of fiscal year 2024.. The company's fiscal year ends on April 30..

Is Elastic N.V. a risky investment based on this filing?

Based on this 10-Q, Elastic N.V. presents a relatively low-risk profile. The filing is a standard 10-Q, which is a routine quarterly report and does not contain significant new risks or material changes that would elevate the risk level.

What should investors do after reading Elastic N.V.'s 10-Q?

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand Elastic N.V.'s performance and outlook. The overall sentiment from this filing is neutral.

How does Elastic N.V. compare to its industry peers?

Elastic N.V. operates in the software industry, specifically focusing on search, observability, and security solutions.

Are there regulatory concerns for Elastic N.V.?

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q).

Industry Context

Elastic N.V. operates in the software industry, specifically focusing on search, observability, and security solutions.

Regulatory Implications

The company is subject to standard SEC regulations for public companies, including the requirement to file quarterly reports (10-Q).

What Investors Should Do

  1. Analyze the financial statements for revenue, expenses, and profitability.
  2. Review the Management's Discussion and Analysis (MD&A) for insights into business performance and outlook.
  3. Check for any new risk factors or updates to existing ones.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending January 31, 2024, following the previous fiscal year's reporting cycle.

Filing Stats: 4,398 words · 18 min read · ~15 pages · Grade level 17.5 · Accepted 2024-03-01 17:21:21

Filing Documents

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) 5 Condensed Consolidated Balance Sheets 5 Condensed Consolidated Statements of Operations 6 Condensed Consolidated Statements of Comprehensive Income (Loss) 7 Condensed Consolidated Statements of Shareholders' Equity 8 Condensed Consolidated Statements of Cash Flows 10 Notes to Condensed Consolidated Financial Statements (Unaudited) 11

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 40

Controls and Procedures

Item 4. Controls and Procedures 41

OTHER INFORMATION

PART II. OTHER INFORMATION 43

Legal Proceedings

Item 1. Legal Proceedings 43

Risk Factors

Item 1A. Risk Factors 43

Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities

Item 2. Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 78

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 78

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 78

Other Information

Item 5. Other Information 78

Exhibits

Item 6. Exhibits 78

Signatures

Signatures 79 2 Table of Contents Note Regarding Forward-Looking Statements This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which statements involve substantial risks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance. In some cases, you can identify forward-looking statements because they contain words such as "may," "might," "will," "should," "expects," "plans," "anticipates," "could," "intends," "target," "projects," "contemplates," "believes," "estimates," "predicts," "potential," or "continue" or the negative of these words or other similar terms or expressions that concern our expectations, strategy, plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to, statements about: our business strategy and our plan to build our business; the impact of macroeconomic conditions, including declining rates of economic growth, inflationary pressures, increased interest rates, and other conditions discussed in this report, on information technology spending, sales cycles, and other factors affecting the demand for our offerings and our results of operations; our future financial performance, including our expectations regarding our revenue, cost of revenue, gross profit or gross margin, operating expenses (which include changes in sales and marketing, research and development and general and administrative expenses), and our ability to achieve and maintain future profitability; our ability to continue to deliver and improve our offerings and successfully develop new offerings; customer acceptance and purchase of our existing offerings and new offerings, including the expansion and adoption of our cloud-b

—FINANCIAL INFORMATION

PART I—FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements Elastic N.V. Condensed Consolidated Balance Sheets (in thousands, except share and per share data) (unaudited) As of January 31, 2024 As of April 30, 2023 Assets Current assets: Cash and cash equivalents $ 526,893 $ 644,167 Restricted cash 2,774 2,473 Marketable securities 488,133 271,041 Accounts receivable, net of allowance for credit losses of $ 3,865 and $ 3,409 as of January 31, 2024 and April 30, 2023, respectively 229,946 260,919 Deferred contract acquisition costs 68,937 55,813 Prepaid expenses and other current assets 45,440 39,867 Total current assets 1,362,123 1,274,280 Property and equipment, net 5,512 5,092 Goodwill 319,546 303,642 Operating lease right-of-use assets 23,088 19,997 Intangible assets, net 23,822 29,104 Deferred contract acquisition costs, non-current 100,389 95,879 Deferred tax assets 218,693 7,412 Other assets 5,749 8,076 Total assets $ 2,058,922 $ 1,743,482 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 10,935 $ 35,151 Accrued expenses and other liabilities 64,835 63,532 Accrued compensation and benefits 78,049 76,483 Operating lease liabilities 12,788 12,749 Deferred revenue 561,665 528,704 Total current liabilities 728,272 716,619 Deferred revenue, non-current 23,521 34,248 Long-term debt, net 568,341 567,543 Operating lease liabilities, non-current 15,297 13,942 Other liabilities, non-current 15,654 12,233 Total liabilities 1,351,085 1,344,585 Commitments and contingencies (Notes 8 and 9) Shareholders' equity: Preference shares, 0.01 par value; 165,000,000 shares authorized, 0 shares issued and outstanding as of January 31, 2024 and April 30, 2023 — — Ordinary shares, par value 0.01 per share: 165,000,000 shares authorized; 100,792,010 shares issued and outstanding as of January 31, 2024 and 97,366,947 shares issued and outstanding as of April 30, 2023 1,060 1,024 Treasury stock ( 369 ) ( 369 ) Additional paid-in capital 1,676,493

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