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Elastic N.V. (symbol: ESTC) is a globally recognized software company that specializes in transforming structured and unstructured data into actionable insights in real time. Founded in 2012, Elastic is best known for its flagship open-source projects, including Elasticsearch, Kibana, Beats, and Logstash, which collectively form the Elastic Stack (also known as the ELK Stack). These tools empower organizations to address critical use cases across enterprise search, observability, and security analytics.
Core Business Areas
Elastic's business model centers on providing software solutions that enable organizations to search, analyze, and visualize data in real time. Its primary offerings include:
- Enterprise Search: Helping businesses build powerful search experiences for internal and external users.
- Observability: Enabling monitoring and troubleshooting of applications, infrastructure, and systems to ensure operational efficiency.
- Security Analytics: Providing tools for threat detection, incident response, and security operations to safeguard digital assets.
Revenue Model
Elastic monetizes its technology through a combination of subscription-based services, cloud offerings, and enterprise licensing. Its managed cloud service, Elastic Cloud, allows customers to deploy Elastic solutions on popular cloud platforms, including AWS, Google Cloud, and Microsoft Azure. Additionally, Elastic offers premium features and support through its proprietary X-Pack extensions, catering to enterprise clients with advanced needs.
Market Position and Competitive Landscape
Operating at the intersection of data management, analytics, and cybersecurity, Elastic occupies a unique position in the software industry. Its open-source roots and developer-friendly ecosystem have fostered a global community of over 80,000 members. Elastic's products have been downloaded more than 100 million times, underscoring their widespread adoption. The company serves a diverse range of industries, including technology, finance, healthcare, e-commerce, and media, with prominent clients such as Microsoft, Netflix, Uber, and Goldman Sachs.
Elastic faces competition from companies like Splunk (observability and security), Datadog (monitoring and analytics), and Snowflake (data warehousing). Its differentiation lies in its open-source foundation, flexibility, and ability to handle both structured and unstructured data at scale.
Challenges and Opportunities
As a company rooted in open-source technology, Elastic navigates the challenge of balancing community-driven innovation with commercial viability. The transition to cloud-based solutions presents both an opportunity for growth and a competitive challenge, as the market for cloud-native analytics and security tools becomes increasingly crowded. By leveraging its expertise in real-time data processing and its established brand, Elastic is well-positioned to address evolving enterprise needs.
Global Reach
Headquartered in Amsterdam, the Netherlands, and Mountain View, California, Elastic operates globally, with employees in over 30 countries. Its distributed workforce and community-driven approach have enabled it to scale effectively, serving thousands of organizations worldwide.
Conclusion
Elastic N.V. stands out as a key enabler of real-time data insights, offering versatile and scalable solutions for search, observability, and security. Its open-source origins, coupled with its commercial innovations, have made it an indispensable partner for enterprises looking to harness the power of their data. As organizations continue to prioritize data-driven decision-making, Elastic's role in the software ecosystem remains pivotal.
Elastic (NYSE: ESTC) announced details for its free virtual conference, ElasticON Global, set for Oct. 5-7, 2021. Themed “Solve,” the event will feature keynotes from notable figures, including CEO Shay Banon and Microsoft EVP Scott Guthrie. Attendees can participate in over 100 technical sessions, hands-on workshops, and training courses aimed at enhancing their skills in Elastic’s offerings. The company will also donate for each participant to support World Central Kitchen and Girlstart, continuing its philanthropic efforts.
Elastic (NYSE: ESTC) has released the HashiCorp verified Elastic Cloud Terraform provider, enhancing infrastructure management for users of HashiCorp Terraform. This provider automates data infrastructure deployment, enabling IT teams to manage Elastic deployments as code across multiple cloud environments. Key features include deployment autoscaling, configuration management, and plugin management. The collaboration aims to improve operational efficiency for enterprise IT teams and managed service providers.
Elastic has completed the acquisition of build.security, a platform that enhances cloud-native security by enabling organizations to enforce security policies using the Open Policy Agent standard. This acquisition aims to help users eliminate security blind spots, mitigate threats, and strengthen their cloud security posture in accordance with established standards like CIS benchmarks. Build.security's co-founder and CEO, Amit Kanfer, will join Elastic's team. Financial details of the transaction have not been disclosed.
Elastic (NYSE: ESTC) announced that chief financial officer Janesh Moorjani will participate in three upcoming virtual investor conferences. These include the Piper Sandler Global Technology Conference on September 13, 2021, the Jefferies Virtual Software Conference on September 14, 2021, and the Citi 2021 Global Technology Virtual Conference on September 15, 2021. A live webcast and replay will be available on Elastic’s Investor Relations page. Founded in 2012, Elastic focuses on enterprise search, observability, and security, making data usable in real time.
Elastic (NYSE: ESTC) has nominated Shelley Leibowitz to its Board of Directors. Leibowitz brings over 30 years of IT and business governance experience, having served as CIO for Morgan Stanley and The World Bank. Her extensive background includes board roles at E*TRADE and MassMutual. Leibowitz emphasized the excitement of joining Elastic during a period of rapid adoption of its products. Upon successful election at the annual general meeting on October 1, 2021, she will also join the Audit Committee and Nominating and Corporate Governance Committee.
Elastic (NYSE: ESTC) announced a definitive agreement to acquire Cmd, enhancing its cloud security capabilities. Cmd specializes in infrastructure detection and response, enabling deep visibility into cloud workloads for advanced security measures. This acquisition aims to integrate Cmd's capabilities into Elastic's existing security platform, Elastic Limitless XDR, combining security information management, endpoint, and cloud security. The deal is expected to close in Elastic's fiscal second quarter, subject to standard closing conditions.
Elastic (NYSE: ESTC) reported strong Q1 FY22 results with total revenue of $193.1 million, a 50% year-over-year growth. Elastic Cloud revenue surged to $61.5 million, marking an 89% increase. Key metrics included 16,000 subscription customers and over 780 with ACV exceeding $100,000. The company experienced a GAAP net loss of $0.38 per share but achieved a non-GAAP EPS of $0.04. Financial guidance for Q2 projects revenue between $193 million and $195 million. Elastic also announced acquisitions and enhanced product offerings in security and search.
Elastic (NYSE: ESTC) has announced its acquisition of build.security, a policy definition and enforcement platform leveraging Open Policy Agent (OPA) technology, enhancing its security solutions. This move is aimed at extending Elastic’s Limitless Extended Detection and Response (XDR) capabilities, providing comprehensive security for cloud-native environments. The integration will allow for real-time security checks against established standards, further solidifying Elastic's leadership in security technology.
Elastic (NYSE: ESTC) will announce its financial results for Q1 fiscal 2022 on August 25, 2021, after market close. A conference call will follow at 2:00 p.m. PT/ 5:00 p.m. ET to discuss the results and future outlook. Investors can access the live webcast on Elastic's investor relations website, with a replay available for two months. Founded in 2012, Elastic provides solutions for enterprise search, observability, and security, enabling users to make data usable in real-time across various applications.
Elastic (NYSE: ESTC) has announced new features for the Elastic Stack and Elastic Cloud aimed at improving data management. The general availability of Elastic Agent, managed by Fleet, streamlines the integration of multiple data sources while enhancing endpoint security. New visualization capabilities in Kibana allow for faster ad hoc analytics. Furthermore, support for Microsoft Azure Private Link enhances data security with private connectivity. These updates are designed to simplify onboarding and management of data while meeting compliance requirements.
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