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Elastic N.V. (symbol: ESTC) is a leading software company that empowers organizations worldwide with real-time insights by making structured and unstructured data usable for various applications. Founded in 2012, Elastic is the brainchild of the creators of Elasticsearch, Kibana, Beats, and Logstash—collectively known as the Elastic Stack. These open-source projects have grown into powerful tools for search, logging, security, and analytics use cases.
Elastic's global community boasts more than 80,000 members spread across 45 countries, reflecting its significant impact and reach. The company's products have been downloaded over 100 million times, showcasing their widespread adoption and reliability. Elastic's solutions are trusted by a plethora of high-profile organizations such as Cisco, eBay, Dell, Goldman Sachs, Groupon, HP, Microsoft, Netflix, The New York Times, Uber, Verizon, Yelp, and Wikipedia.
Elastic's offerings include the Elastic Stack, X-Pack, and Elastic Cloud, which are integral to mission-critical systems that drive new revenue streams and substantial cost savings. The company's primary focus areas are enterprise search, observability, and security, enabling businesses to glean actionable insights from their data.
Backed by substantial funding of over $104 million from Benchmark Capital, Index Ventures, and NEA, Elastic has its headquarters in Amsterdam, the Netherlands, and Mountain View, California. The company employs more than 400 people across 30 countries, emphasizing its global presence and collaborative work culture.
Recent achievements include continuous innovation and updates to their product suite, ensuring that Elastic remains at the forefront of the technology landscape. Elastic's commitment to open-source principles and community engagement continues to propel its growth and influence in the data management and analytics sectors.
Elastic (NYSE: ESTC) has announced the general availability of Elasticsearch logsdb index mode, a new feature that reduces log data storage footprint by up to 65% compared to recent versions without this mode. The innovation optimizes data ordering, eliminates duplication, and improves compression through advanced algorithms and codecs.
The feature is now generally available for Cloud Hosted and Self-Managed customers in version 8.17 and comes enabled by default for logs in Elastic Cloud Serverless. Basic capabilities are available with Standard, Gold, and Platinum licenses, while complete capabilities are accessible to Serverless customers and Enterprise license holders.
Elastic (NYSE: ESTC) has launched Elastic Rerank, a cross-encoder reranking model designed to enhance semantic search capabilities without requiring reindexing. Built on the DeBERTa v3 architecture, the model demonstrates superior performance compared to larger reranking models, showing a 40% improvement in general retrieval tasks and up to 90% enhancement in question-answering datasets.
The new feature allows developers to semantically boost keyword search with minimal changes to existing data indexing and search processes, offering greater flexibility and cost control. The model is accessible through the Elasticsearch Open Inference API and is available on Elasticsearch Serverless and Elasticsearch 8.17.
Elastic (NYSE: ESTC) has enhanced its Security platform with expanded cloud detection and response (CDR) capabilities integrated directly into its SIEM solution. This integration eliminates the need for separate CDR tools, addressing challenges of cloud environment complexity and data fragmentation. The new features include agentless ingestion, cloud asset inventory, extended protections, and graph view for correlation and context enrichment using existing customer data.
According to ESG analyst Dave Gruber, 44% report threat detection and response is more difficult in cloud environments. Elastic's vendor-agnostic approach aims to simplify cloud security posture management while reducing tool fragmentation and total cost of ownership.
Elastic (NYSE: ESTC) has been awarded the 2024 AWS Global Generative AI Infrastructure and Data Partner of the Year. This accolade acknowledges Elastic's role in supporting vector embeddings data storage, management, and synthetic data generation on Amazon Web Services (AWS). Announced at AWS re:Invent 2024, the award highlights Elastic's collaboration with AWS to enable enterprises to build and deploy generative AI applications efficiently. Key integrations include retrieval-augmented generation (RAG) and real-time anomaly detection on Elastic Cloud. Elastic's solutions have been pivotal for companies like Adobe, enhancing scalability and performance. The award process involved self-nomination and was rigorously evaluated by Canalys, focusing on customer success and performance metrics. Elastic's recognition underscores its commitment to advancing generative AI technologies for its customers.
Elastic (NYSE: ESTC) has announced the general availability of Elastic Cloud Serverless, powered by a re-architectured Elasticsearch built on a Search AI Lake. The new serverless architecture decouples compute from storage and indexing from search, utilizing cloud-native object storage to enable seamless scaling while maintaining low-latency querying performance.
The solution offers streamlined pricing based on resource metrics like data ingestion, storage, and compute units, with volume pricing for security and observability data. Initially available on AWS, support for Azure and Google Cloud instances will be available in early 2025. The platform is designed for high-volume workloads, from retrieval augmented generation to threat detection, eliminating operational overhead while maintaining performance.
Autodesk (NASDAQ: ADSK) has appointed Janesh Moorjani as chief financial officer, effective December 16, 2024. Moorjani, who previously served as CFO and COO of Elastic NV, brings over 20 years of technology industry experience. He will succeed interim CFO Elizabeth 'Betsy' Rafael, who will continue as an advisor through fiscal 2025 and remain on Autodesk's Board of Directors. Moorjani's experience includes executive roles at Infoblox, VMware, Cisco, PTC, and Goldman Sachs, and he currently serves on Cohesity's Board of Directors.
Elastic (NYSE: ESTC) announced an enhanced collaboration with AWS, introducing large language model (LLM) observability support for Amazon Bedrock in Elastic Observability. This integration enables Site Reliability Engineers (SREs) to monitor performance metrics of their Amazon Bedrock LLMs, including invocations, errors, and latency. The collaboration features the Elastic AI Assistant, powered by Amazon Bedrock, which helps SREs analyze data, generate visualizations, and provide actionable recommendations for issue resolution.
Elastic (NYSE: ESTC) reported strong Q2 FY2025 results with total revenue reaching $365 million, up 18% year-over-year. Elastic Cloud revenue grew 25% to $169 million. The company reported a GAAP operating loss of $4 million and non-GAAP operating income of $64 million. Total customer count with ACV greater than $100,000 increased to over 1,420, while total subscription customers reached approximately 21,300. The company maintains a healthy cash position of $1.198 billion and projects Q3 FY2025 revenue between $367-369 million with non-GAAP operating margin of approximately 15%.
Elastic (NYSE: ESTC) has announced its AI ecosystem to accelerate enterprise development of Retrieval Augmented Generation (RAG) applications. The ecosystem provides developers with integrated AI technologies and tools for the Elasticsearch vector database, featuring pre-built integrations from leading AI companies.
The initiative includes partnerships with major tech players like AWS, Google Cloud, Microsoft, OpenAI, and NVIDIA, focusing on delivering relevant experiences through RAG, data preparation, AI model experimentation, GenAI development frameworks, and secure AI application deployment.
Elastic (NYSE: ESTC) has announced Kubernetes observability support in their Elastic Distributions of OpenTelemetry (EDOT) portfolio using OpenTelemetry Operator. The new feature provides Site Reliability Engineers (SREs) with out-of-the-box configurations for streamlined collector deployment, application auto-instrumentation, and lifecycle management. This 100% OpenTelemetry-native solution eliminates the need for schema conversions, offering real-time visibility across Kubernetes clusters through application metrics, logs, and traces. The unified OTel experience with OTel operator is currently available in tech preview.
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