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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 unveiled new features in its Elastic Observability solution, enhancing application and infrastructure visibility for customers.
This includes Universal Profiling, providing deep insights with minimal overhead, enabling performance optimization and cost savings. Early tests show potential CPU savings of 10% to 20% for applications.
The introduction of new synthetic monitoring capabilities allows for proactive user interaction simulations to quickly identify performance issues, streamlining operations for development teams.
Elastic (NYSE: ESTC) announced significant innovations in its Elastic Search Platform, enhancing data analytics capabilities. Key updates include automated Elastic Agent provisioning for AWS, improved search relevance via machine learning, and a new stateless architecture for enhanced resilience and scalability. The beta release of Universal Profiling™ and synthetic monitoring boosts cloud observability. Additionally, modernized security operations feature enhanced threat intelligence management. These advancements aim to help organizations leverage data insights effectively, addressing business challenges and accelerating digital transformation.
Kyndryl (NYSE: KD) and Elastic (NYSE: ESTC) have announced an expanded partnership aimed at providing customers with enhanced data-driven digital transformation initiatives. This collaboration focuses on creating joint solutions for full-stack observability, enabling organizations to search, analyze, and act on machine data across various computing environments. Key offerings include IT data modernization, intelligent analytics, and data migration services, leveraging Kyndryl’s infrastructure expertise and Elastic’s search solutions. This partnership aims to support clients in improving their IT operations management capabilities.
Elastic N.V. has reached a settlement with floragunn and Amazon regarding the use of Elastic's source code in Search Guard. floragunn admits to copyright violations, while Amazon had previously included the disputed code in its Elasticsearch-based products. Following the lawsuit, Amazon removed the contested code from its offerings. This agreement effectively resolves any claims from Elastic concerning third-party use of the infringing code, ensuring compliance and protecting Elastic's intellectual property rights.
Elastic (NYSE: ESTC) will host its Financial Analyst Day on September 19, 2022, at 1:00 p.m. PT in San Francisco. The event will feature key management discussions on the company's product vision, market opportunity, go-to-market strategy, and financial model. A live webcast will be available on Elastic’s Investor Relations page.
As a leader in search-powered solutions, Elastic enhances customer experiences and security across various platforms.
Elastic (NYSE: ESTC), known for Elasticsearch and the Elastic Stack, announced its management will participate in two upcoming investor conferences. The first is the Citi 2022 Global Technology Conference on September 8, 2022, at 8:15 a.m. PT, followed by the Goldman Sachs Communacopia + Technology Conference on September 13, 2022, at 11:30 a.m. PT. A live webcast and replay will be accessible on Elastic’s Investor Relations page.
Elastic specializes in search-powered solutions for enterprise search, observability, and security, enabling organizations to enhance their performance and safeguard against cyber threats.
Elastic (NYSE: ESTC) appointed Ken Exner as Chief Product Officer effective August 29, 2022. With over 30 years of experience, Exner previously led product and engineering teams at Amazon Web Services for 16 years. He will oversee engineering, product management, and design, focusing on enhancing Elastic's Enterprise Search, Observability, and Security solutions. CEO Ash Kulkarni expressed confidence in Exner's ability to drive the company's cloud-first business strategy and strengthen partnerships.
Elastic (NYSE: ESTC) reported strong Q1 fiscal 2023 results, with revenues of $250.1 million, marking a 30% year-over-year increase (34% at constant currency). Elastic Cloud revenue surged 59% year-over-year to $97.7 million, representing 39% of total revenue. Despite a GAAP operating loss of $60.6 million and a net loss per share of $0.74, the company holds $848.8 million in cash. The outlook remains optimistic, with Q2 revenue guidance between $260 million and $262 million, indicating a 27% year-over-year growth at midpoint.
Elastic (NYSE: ESTC) will announce its financial results for the first quarter of fiscal 2023, which ended on July 31, 2022, after U.S. market close on August 25, 2022. A conference call to discuss these results and the company's business outlook will take place at 2:00 p.m. PT / 5:00 p.m. ET. Investors can access the live webcast on the Elastic investor relations website, with a replay available for two months. Elastic is recognized for its search-powered solutions across Enterprise Search, Observability, and Security.
Elastic (NYSE: ESTC) highlights findings from a Wakefield Research study revealing the crucial role personalization plays in ecommerce. With 88% of online shoppers more likely to continue shopping on sites offering personalized experiences, the study shows that relevant product recommendations significantly enhance customer loyalty. Furthermore, 95% of shoppers indicate they are changing spending habits due to rising prices but still prioritize finding the right products over cost. Elastic's Enterprise Search solutions empower retailers to tailor the shopping experience, ultimately driving sales and customer satisfaction.
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