Elastic N.V. Files Q2 FY25 10-Q

TL;DR

Elastic N.V. Q2 FY25 10-Q filed. Check financials.

AI Summary

Elastic N.V. filed its 10-Q for the period ending October 31, 2024. The company reported financial results for the second quarter of fiscal year 2025. Key financial data and operational updates are detailed within the filing, which was submitted on November 25, 2024.

Why It Matters

This filing provides investors with the latest financial performance and operational details for Elastic N.V., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — 10-Q filings are standard financial reports, but the specific content can reveal risks or opportunities impacting the company's valuation.

Key Numbers

• Q2 FY25 — Fiscal Quarter (Reporting period for the 10-Q)
• 2024-10-31 — Period End Date (The end date of the reporting period)
• 2024-11-25 — Filing Date (The date the 10-Q was submitted to the SEC)

Key Players & Entities

• Elastic N.V. (company) — Filer of the 10-Q
• 20241031 (date) — End of reporting period
• 20241125 (date) — Filing date
• 001-38675 (other) — SEC File Number

FAQ

Filing Documents

• estc-20241031.htm (10-Q) — 1586KB
• a25q2ex311.htm (EX-31.1) — 11KB
• a25q2ex312.htm (EX-31.2) — 11KB
• a25q2ex321.htm (EX-32.1) — 5KB
• a25q2ex322.htm (EX-32.2) — 6KB
• 0001707753-24-000047.txt ( ) — 7795KB
• estc-20241031.xsd (EX-101.SCH) — 47KB
• estc-20241031_cal.xml (EX-101.CAL) — 79KB
• estc-20241031_def.xml (EX-101.DEF) — 235KB
• estc-20241031_lab.xml (EX-101.LAB) — 646KB
• estc-20241031_pre.xml (EX-101.PRE) — 461KB
• estc-20241031_htm.xml (XML) — 1140KB

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 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 39

Controls and Procedures

Item 4. Controls and Procedures 40

OTHER INFORMATION

PART II. OTHER INFORMATION 41

Legal Proceedings

Item 1. Legal Proceedings 41

Risk Factors

Item 1A. Risk Factors 41

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 42

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 42

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 42

Other Information

Item 5. Other Information 42

Exhibits

Item 6. Exhibits 42

Signatures

Signatures 43 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 October 31, 2024 As of April 30, 2024 Assets Current assets: Cash and cash equivalents $ 658,508 $ 540,397 Restricted cash 3,320 2,692 Marketable securities 539,062 544,002 Accounts receivable, net of allowance for credit losses of $ 4,992 and $ 4,979 as of October 31, 2024 and April 30, 2024, respectively 256,068 323,011 Deferred contract acquisition costs 77,129 78,030 Prepaid expenses and other current assets 41,667 42,765 Total current assets 1,575,754 1,530,897 Property and equipment, net 5,005 5,453 Goodwill 319,417 319,380 Operating lease right-of-use assets 16,433 20,506 Intangible assets, net 14,506 20,620 Deferred contract acquisition costs, non-current 106,120 114,509 Deferred tax assets 187,204 225,544 Other assets 7,061 5,657 Total assets $ 2,231,500 $ 2,242,566 Liabilities and Shareholders' Equity Current liabilities: Accounts payable $ 23,557 $ 26,075 Accrued expenses and other liabilities 75,979 75,292 Accrued compensation and benefits 72,511 93,691 Operating lease liabilities 10,525 12,187 Deferred revenue 608,157 663,846 Total current liabilities 790,729 871,091 Deferred revenue, non-current 37,548 30,293 Long-term debt, net 569,165 568,612 Operating lease liabilities, non-current 9,621 12,898 Other liabilities, non-current 12,919 21,487 Total liabilities 1,419,982 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 October 31, 2024 and April 30, 2024 — — Ordinary shares, par value 0.01 per share: 165,000,000 shares authorized; 103,631,086 shares issued and outstanding as of October 31, 2024 and 101,705,935 shares issued and outstanding as of April 30, 2024 1,091 1,070 Treasury stock ( 369 ) ( 369 ) Additional paid-in capital 1,895,

View Full Filing

View this 10-Q filing on SEC EDGAR