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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) commissioned a study revealing that 8 out of 10 data leaders see search-powered technology as essential for successful digital transformation. Key findings include that 84% believe these technologies boost digital initiatives, and 83% agree that an integrated search platform can reduce costs. Additionally, 85% want to enhance information retrieval across multiple data environments. As organizations prioritize comprehensive, cloud-based solutions, the demand for integrated platforms that streamline operations and improve cybersecurity continues to rise.
Elastic (NYSE: ESTC) has announced enhancements to its cross-cluster search and replication capabilities, facilitating seamless data management across on-premises and cloud environments. These updates allow users to search data across multiple Elasticsearch clusters, improving operational efficiency and minimizing risks during gradual migration to the cloud. Key features include a unified user interface and enhanced disaster recovery options, enabling businesses to maintain compliance and performance. The enhancements aim to support over 18,000 customers, including many industry leaders.
Elastic (NYSE: ESTC) has appointed Sohaib Abbasi to its Board of Directors to enhance its strategic focus on growth and cloud services. Abbasi, with over 30 years of experience, has previously served as CEO of Informatica and held executive roles at Oracle. His appointment aims to drive Elastic's profitable growth and broaden its competitive edge, particularly in cloud offerings. Abbasi will serve as Vice-Chairman and a member of the Compensation Committee at the upcoming 2022 AGM.
Elastic has been recognized as a Visionary in the 2022 Gartner Magic Quadrant for Application Performance Monitoring and Observability for the second consecutive year. The report highlights Elastic's strong capabilities in the APM sector, scoring among the top 3 vendors in five out of six use cases, including IT Operations and DevOps. Elastic Observability provides a unified view for quick issue resolution, backed by innovative features like automated root cause analysis and flexible deployment options. This recognition reinforces Elastic's position in the competitive APM landscape.
Elastic (NYSE: ESTC) has launched Elastic Security for Cloud, enhancing cloud risk and posture management along with cloud workload protection. This platform integrates security operations, enabling customers to monitor deployment risks and runtime threats effectively. Key features include automated threat identification using machine learning, Kubernetes security posture management, and a unified view for managing cloud-native and hybrid environments. The initiative addresses increasing concerns about cloud security, with a focus on reducing complexity and improving visibility for organizations.
Elastic (NYSE: ESTC) reported robust financial results for Q4 and FY22, with total revenue of $239.4 million in Q4, reflecting a 35% year-over-year increase, and $862.4 million for FY22, up 42%. Elastic Cloud revenue soared 71% in Q4 to $87.7 million and 80% for the fiscal year. However, GAAP net losses per share were $0.70 in Q4 and $2.20 for FY22. The company forecasts Q1 FY23 revenue between $244 million and $246 million, marking 27% growth year-over-year.
Elastic (NYSE: ESTC) announced that CEO Ash Kulkarni will present at the Bank of America Global Technology Conference on June 9, 2022, at 11:00 a.m. PT / 2:00 p.m. ET. A live webcast will be accessible on Elastic’s Investor Relations page, with a replay available for two months. Elastic specializes in search-powered solutions, enhancing search experiences while ensuring the reliability of mission-critical applications and cybersecurity. Learn more at elastic.co.
Elastic (NYSE: ESTC) announced an expansion of its collaboration with Amazon Web Services (AWS) aimed at enhancing the access to Elastic Cloud on AWS. Key initiatives include improved onboarding processes, streamlined data ingestion, and the launch of joint go-to-market strategies. Elastic has achieved multiple AWS competencies to facilitate customer migration and integration, reducing setup time from hours to minutes. Furthermore, the partnership will offer competitive pricing and a 7-day free trial through AWS Marketplace. This collaboration aims to heighten customer success and increase sales efficiency.
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