Elastic N.V. Files Q2 FY25 10-Q Report

TL;DR

Elastic N.V. Q2 FY25 10-Q filed. Financials updated.

AI Summary

Elastic N.V. filed its 10-Q for the period ending July 31, 2024. The company reported financial results for the second quarter of fiscal year 2025. Key financial figures and operational details are presented in this filing, which provides an update on the company's performance and outlook.

Why It Matters

This filing provides investors with crucial financial data and operational insights into Elastic N.V.'s performance for the second quarter of fiscal year 2025, impacting investment decisions.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific financial performance and market conditions detailed within can carry inherent risks.

Key Players & Entities

• Elastic N.V. (company) — Filer of the 10-Q report
• 20240731 (date) — End of the reporting period
• 20240830 (date) — Filing date of the report
• 001-38675 (other) — SEC file number

FAQ

Filing Documents

• estc-20240731.htm (10-Q) — 1199KB
• a25q1ex311.htm (EX-31.1) — 11KB
• a25q1ex312.htm (EX-31.2) — 11KB
• a25q1ex321.htm (EX-32.1) — 5KB
• a25q1ex322.htm (EX-32.2) — 6KB
• 0001707753-24-000038.txt ( ) — 7104KB
• estc-20240731.xsd (EX-101.SCH) — 49KB
• estc-20240731_cal.xml (EX-101.CAL) — 79KB
• estc-20240731_def.xml (EX-101.DEF) — 243KB
• estc-20240731_lab.xml (EX-101.LAB) — 649KB
• estc-20240731_pre.xml (EX-101.PRE) — 470KB
• estc-20240731_htm.xml (XML) — 955KB

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 Loss 7 Condensed Consolidated Statements of Shareholders' Equity 8 Condensed Consolidated Statements of Cash Flows 9 Notes to Condensed Consolidated Financial Statements (Unaudited) 10

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 24

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 36

OTHER INFORMATION

PART II. OTHER INFORMATION 37

Legal Proceedings

Item 1. Legal Proceedings 37

Risk Factors

Item 1A. Risk Factors 37

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 38

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 38

Other Information

Item 5. Other Information 38

Exhibits

Item 6. Exhibits 38

Signatures

Signatures 39 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, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), which 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, changing 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 initiatives and investments involving artificial intelligence ("AI"); 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 t

—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 July 31, 2024 As of April 30, 2024 Assets Current assets: Cash and cash equivalents $ 594,871 $ 540,397 Restricted cash 3,436 2,692 Marketable securities 552,459 544,002 Accounts receivable, net of allowance for credit losses of $ 4,370 and $ 4,979 as of July 31, 2024 and April 30, 2024, respectively 196,474 323,011 Deferred contract acquisition costs 76,265 78,030 Prepaid expenses and other current assets 42,643 42,765 Total current assets 1,466,148 1,530,897 Property and equipment, net 4,953 5,453 Goodwill 319,417 319,380 Operating lease right-of-use assets 17,758 20,506 Intangible assets, net 17,341 20,620 Deferred contract acquisition costs, non-current 107,467 114,509 Deferred tax assets 210,809 225,544 Other assets 6,580 5,657 Total assets $ 2,150,473 $ 2,242,566 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 9,337 $ 26,075 Accrued expenses and other liabilities 72,408 75,292 Accrued compensation and benefits 76,080 93,691 Operating lease liabilities 11,143 12,187 Deferred revenue 599,251 663,846 Total current liabilities 768,219 871,091 Deferred revenue, non-current 27,724 30,293 Long-term debt, net 568,887 568,612 Operating lease liabilities, non-current 10,714 12,898 Other liabilities, non-current 15,511 21,487 Total liabilities 1,391,055 1,504,381 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 July 31, 2024 and April 30, 2024 — — Ordinary shares, par value 0.01 per share: 165,000,000 shares authorized; 102,724,366 shares issued and outstanding as of July 31, 2024 and 101,705,935 shares issued and outstanding as of April 30, 2024 1,081 1,070 Treasury stock ( 369 ) ( 369 ) Additional paid-in capital 1,819,006 1,750,72

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View this 10-Q filing on SEC EDGAR