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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 appointed Mathew Donoghue as Chief Marketing Officer, effective February 13, 2023. Donoghue, with extensive experience in cybersecurity marketing, will lead the global marketing team to drive demand generation within the company's $88 billion total addressable market. Prior to Elastic, he served as Senior Vice President at Palo Alto Networks, contributing to significant growth initiatives. CEO Ash Kulkarni praised Donoghue's ability to enhance marketing strategies and accelerate company growth as Elastic prepares for the next phase of its expansion.
Elastic (NYSE: ESTC) has been recognized as a Strong Performer by Forrester Research in its The Forrester Wave™: Artificial Intelligence For IT Operations, Q4 2022 report. The evaluation analyzed 11 vendors across 35 criteria, with Elastic achieving top scores in 13 areas including data collection and dashboard capabilities. The report highlights Elastic's robust data management and machine learning functionalities, which are essential for observing complex environments. Elastic's solutions cater to over 19,000 customers, providing comprehensive operational visibility and problem resolution.
Elastic (NYSE: ESTC) has been recognized as a Major Player in the IDC MarketScape: Worldwide SIEM 2022 Vendor Assessment. This acknowledgment highlights their cloud, endpoint, automation, and SIEM tools as unified strengths. Elastic's platform offers a centralized view for threat detection and response, leveraging over 700 detection rules and more than 60 machine learning models. The report emphasizes Elastic's commitment to transparency and community support through an open GitHub repository.
Elastic (NYSE: ESTC) reported Q2 fiscal 2023 revenue of $264.4 million, a 28% increase year-over-year (34% on a constant currency basis). Elastic Cloud revenue surged 50% to $103.2 million. GAAP operating loss stood at $49.0 million, with a non-GAAP operating income of $4.9 million. The company announced a workforce reduction and cost optimizations to drive profitable growth, aiming for a 10% non-GAAP operating margin in fiscal 2024. The total subscription customer count rose to 19,700, while the net expansion rate was approximately 125%.
Elastic (NYSE: ESTC), the developer of Elasticsearch and the Elastic Stack, announced that CEO Ash Kulkarni will present at the Barclays Global Technology, Media and Telecommunications Conference on December 8, 2022, at 11:00 a.m. PT / 2:00 p.m. ET. A live webcast will be available on Elastic’s Investor Relations page, with a replay accessible for two months.
Elastic is recognized for its search-powered solutions, offering services in Enterprise Search, Observability, and Security, enabling organizations to enhance search experiences and protect against threats.
Elastic (NYSE: ESTC) will issue its financial results for Q2 fiscal 2023, ending on October 31, 2022, after the U.S. market closes on November 30, 2022. A conference call is scheduled for 2:00 p.m. PT / 5:00 p.m. ET to discuss these results and provide a business outlook. Interested parties can access a live webcast on Elastic's investor relations site, with a replay available for two months. As a leader in search-powered solutions, Elastic aims to enhance search experiences and ensure the smooth operation of critical applications.
Elastic (NYSE: ESTC) released the 2022 Global Threat Report, highlighting the evolving challenges in cybersecurity and identifying key risks associated with cloud security, particularly human error and credential access. The report shows that 33% of cloud attacks exploit credential access, with AWS providing the majority of telemetry data. Notably, CobaltStrike was responsible for 35% of Windows detections, underscoring the use of defensive tools by malicious actors. The findings stress the need for improved security strategies to combat increasingly sophisticated attacks.
Elastic (NYSE: ESTC) has appointed Barrie Sheers as Vice President for Asia-Pacific and Japan, aiming to accelerate business and cloud growth. Based in Singapore, Sheers will report to Chief Sales Officer Michael Cremen and focus on strategic initiatives and customer value. With over 20 years of experience, including roles at Microsoft and Dell, Sheers is expected to leverage his expertise to enhance customer relationships and drive growth in the rapidly evolving cloud market.
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