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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 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.
Elastic (NYSE: ESTC) has introduced Better Binary Quantization (BBQ) in Elasticsearch, a new quantization approach evolved from RaBitQ technology. The innovation achieves a 95% reduction in memory requirements for storing vectorized data while maintaining high-ranking quality and similar storage efficiency as scalar quantization. BBQ is available as a tech preview for both self-managed and cloud users of Elasticsearch, and will be contributed to Apache Lucene.
Elastic (NYSE: ESTC) has scheduled the release of its second quarter fiscal 2025 financial results for Thursday, November 21, 2024, after U.S. market close. The company will host a conference call at 2:00 p.m. PT/5:00 p.m. ET on the same day to discuss financial results and business outlook. The conference call will be available via webcast on Elastic's investor relations website, with a replay accessible for two months.
Elastic (NYSE: ESTC) has announced the full integration of AutoOps, a monitoring and management tool, into Elastic Cloud. The integration provides users with simplified cluster management, performance recommendations, and real-time issue detection capabilities. Key features include tailored utilization insights, pre-configured alerts for various issues, root cause analysis with resolution suggestions, and cost optimization recommendations.
AutoOps is now available free of charge for Elastic Cloud users running on AWS US-East-1, with plans for rapid expansion to other regions.
Elastic (NYSE: ESTC) announced a successful collaboration with LG CNS to enhance the company's global knowledge management services. By integrating Elasticsearch into LG CNS's KeyLook AI search algorithm, the company achieved a 95% increase in search relevance and reduced data retrieval time by over 50%. The KeyLook AI algorithm, developed at LG CNS's AI Center, uses generative AI models to encode corporate data and index it within Elasticsearch, delivering user-friendly answers through a large language model (LLM). This integration has improved the system's ability to understand user intent and perform context-based vector searches across multiple languages.
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