$ESTC

Elastic N.V.

CIK:0001707753|SEC Filings

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Revenue
Total revenue	$ 478,113	$ 415,288
Cost of revenue
Total cost of revenue	121,925	96,746
Gross profit	356,188	318,542
Operating expenses
Research and development	112,493	109,122
Sales and marketing	198,997	174,054
General and administrative	48,352	44,806
Restructuring and other related charges	19,920	0
Total operating expenses	379,762	327,982
Operating loss	(23,574)	(9,440)
Interest expense	(6,281)	(6,351)
Other income, net	12,597	15,782
Loss before income taxes	(17,258)	(9)
(Benefit from) provision for income taxes	(529)	24,594
Net loss	$ (16,729)	$ (24,603)
Net loss per share attributable to ordinary shareholders, basic (in dollars per share)	$ (0.16)	$ (0.23)
Net loss per share attributable to ordinary shareholders, diluted (in dollars per share)	$ (0.16)	$ (0.23)
Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic (in shares)	104,640,231	105,961,879
Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, diluted (in shares)	104,640,231	105,961,879
Subscription
Revenue
Total revenue	$ 448,735	$ 388,583
Cost of revenue
Total cost of revenue	91,931	69,418
Services
Revenue
Total revenue	29,378	26,705
Cost of revenue
Total cost of revenue	$ 29,994	$ 27,328

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Jul. 31, 2026	Jul. 31, 2025
Cash flows from operating activities
Net loss	$ (16,729)	$ (24,603)
Adjustments to reconcile net loss to cash provided by operating activities:
Depreciation and amortization	3,358	2,316
Amortization of premium and accretion of discount on marketable securities, net	(311)	(1,393)
Amortization of deferred contract acquisition costs	32,467	26,173
Amortization of debt issuance costs	300	287
Non-cash operating lease cost	1,768	2,316
Stock-based compensation expense	74,782	69,935
Deferred income taxes	1,061	21,562
Unrealized foreign currency transaction loss (gain)	472	(364)
Other	6	0
Changes in operating assets and liabilities, net of impact of business acquisitions:
Accounts receivable, net	227,026	153,982
Deferred contract acquisition costs	(24,872)	(22,284)
Prepaid expenses and other current assets	5,208	(5,066)
Other assets	1,414	(1,075)
Accounts payable	5,753	9,570
Accrued expenses and other liabilities	(18,914)	(14,892)
Accrued compensation and benefits	(19,493)	(10,987)
Operating lease liabilities	(2,127)	(2,730)
Deferred revenue	(139,165)	(97,912)
Net cash provided by operating activities	132,004	104,835
Cash flows from investing activities
Purchases of property and equipment	(590)	(656)
Business acquisitions, net of cash acquired	0	(8,489)
Purchases of marketable securities	(114,760)	(248,596)
Sales, maturities, and redemptions of marketable securities	133,490	87,366
Net cash provided by (used in) investing activities	18,140	(170,375)
Cash flows from financing activities
Proceeds from issuance of ordinary shares upon exercise of stock options	3,304	326
Repurchases of ordinary shares	(40,016)	0
Net cash (used in) provided by financing activities	(36,712)	326
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	(2,095)	(10)
Net increase (decrease) in cash, cash equivalents, and restricted cash	111,337	(65,224)
Cash, cash equivalents, and restricted cash, beginning of period	770,498	731,214
Cash, cash equivalents, and restricted cash, end of period	881,835	665,990
Supplemental disclosures of cash flow information
Cash paid for interest	11,910	11,993
Cash paid for income taxes, net	5,656	5,061
Cash paid for operating lease liabilities	2,172	2,989
Supplemental disclosures of non-cash investing and financing information
Property and equipment included in accounts payable	39	137
Operating lease right-of-use assets for new lease obligations	6,216	1,569
Acquisition-related indemnity holdback	$ 0	$ 1,425

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jul. 31, 2026	Apr. 30, 2026
Current assets:
Cash and cash equivalents	$ 879,869	$ 768,725
Restricted cash	1,966	1,773
Marketable securities	581,173	601,537
Accounts receivable, net of allowance for credit losses of $5,143 and $6,847 as of July 31, 2026 and April 30, 2026, respectively	236,433	464,413
Deferred contract acquisition costs	103,055	106,447
Prepaid expenses and other current assets	75,138	80,368
Total current assets	1,877,634	2,023,263
Property and equipment, net	8,172	8,591
Goodwill	356,580	356,442
Operating lease right-of-use assets	23,058	18,641
Intangible assets, net	10,443	13,059
Deferred contract acquisition costs, non-current	146,487	150,989
Deferred tax assets	566,053	567,278
Other assets	13,461	14,413
Total assets	3,001,888	3,152,676
Current liabilities:
Accounts payable	14,185	8,618
Accrued expenses and other liabilities	77,922	96,713
Accrued compensation and benefits	99,612	119,231
Operating lease liabilities	5,709	6,539
Deferred revenue	839,758	973,820
Total current liabilities	1,037,186	1,204,921
Deferred revenue, non-current	44,189	52,502
Long-term debt, net	571,195	570,895
Operating lease liabilities, non-current	18,871	14,129
Other liabilities, non-current	33,604	33,729
Total liabilities	1,705,045	1,876,176
Commitments and contingencies (Notes 8 and 9)
Shareholders’ equity:
Preference shares, €0.01 par value; 165,000,000 shares authorized; no shares issued or outstanding as of July 31, 2026 and April 30, 2026	0	0
Ordinary shares, €0.01 par value; 165,000,000 shares authorized; 108,605,243 shares issued and 105,120,583 shares outstanding as of July 31, 2026; 108,360,340 shares issued and 104,751,470 shares outstanding as of April 30, 2026	1,167	1,154
Treasury stock, at cost; 3,484,660 shares held as of July 31, 2026; 3,608,870 shares held as of April 30, 2026	(249,270)	(275,695)
Additional paid-in capital	2,322,498	2,310,866
Accumulated other comprehensive loss	(28,868)	(27,870)
Accumulated deficit	(748,684)	(731,955)
Total shareholders’ equity	1,296,843	1,276,500
Total liabilities and shareholders’ equity	$ 3,001,888	$ 3,152,676