Welcome to our dedicated page for Elastic N.V. news (Ticker: ESTC), a resource for investors and traders seeking the latest updates and insights on Elastic N.V. stock.
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 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.
Elastic (NYSE: ESTC) has released its 2024 Elastic Global Threat Report, revealing key cybersecurity trends based on over 1 billion data points. The report highlights three main findings:
1. Adversaries are heavily using offensive security tools (OSTs), with Cobalt Strike and Metasploit accounting for ~54% of observed malware alerts.
2. Cloud environment misconfigurations are creating vulnerabilities, with nearly 47% of Microsoft Azure failures tied to storage account misconfigurations and 44% of Google Cloud users failing BigQuery encryption checks.
3. Attackers are increasingly focusing on credential access, making up ~23% of all cloud behaviors, primarily in Microsoft Azure environments. There's also a 12% increase in Brute Force techniques.
The report notes a 6% decrease in Defense Evasion behaviors over the last year, suggesting that defender technologies are working but adversaries are adapting their strategies.
Elastic (NYSE: ESTC) has announced that its Elasticsearch Open Inference API now supports the Gemini Developer API through Google AI Studio. This integration allows developers to interact with data in Elasticsearch indexes, run experiments, and build applications using Google's models like Gemini 1.5 Flash.
Google AI Studio, which releases the latest models from Google DeepMind, provides the fastest way to start building with Gemini. The integration enables developers to iterate on and prototype generative AI experiments using Elastic as a vector store. Elastic's founder and CTO, Shay Banon, emphasized that this integration gives developers access to Elastic's complete range of advanced search retrieval capabilities.
Support for Google AI Studio is available immediately, allowing developers to test, iterate, and quickly bring their generative AI applications to production.
Elastic (NYSE: ESTC) has announced support for Google Cloud's Vertex AI platform in its Elasticsearch Open Inference API and Playground. This integration allows developers to use Vertex AI's text embedding and reranking models to build production applications on the Elasticsearch vector database. Additionally, the Elastic Playground now enables developers to prototype and iterate on RAG applications using Vertex AI and Google Cloud's Gemini models.
The collaboration aims to make a unified AI development platform accessible to Elastic developers, combining the strengths of Vertex AI and Elasticsearch. Developers can now store and use embeddings, refine retrieval to ground answers with proprietary data, and more. Google Cloud's Gemini models are available in the Elastic low-code playground experience, offering developers more options for A/B testing LLMs, tuning retrieval, and chunking.
Elastic (NYSE: ESTC) has announced the listing of its Elastic Search AI Platform in the AWS Marketplace for the U.S. Intelligence Community (ICMP). This move makes Elastic's powerful search, AI, and analytics engine available to US Government customers through a curated digital catalog from Amazon Web Services.
The platform offers solutions for proactive system monitoring, AI-driven SecOps modernization, and generative AI search experiences. It is designed to handle massive amounts of unstructured and structured data, providing real-time actionable results at scale. Chris Townsend, VP of public sector at Elastic, emphasized that this listing gives federal agencies an additional avenue to access the full power of search and AI, enabling them to turn data into actionable insights.
Elastic (NYSE: ESTC) has signed a distribution agreement with Arrow Electronics to deliver its Search AI powered Security, Observability, and Search solutions to the U.S. and Canada channel. This strategic partnership aims to simplify the process for channel partners to work with Elastic through ArrowSphere, reducing time and effort for quoting, purchasing, and fulfilling.
The collaboration reinforces Elastic's commitment to helping organizations accelerate migration from legacy vendors. Arrow's extensive network of security partners and solutions lab can assist customers in modernizing their security operations with Elastic's AI-driven security analytics. Elastic recently launched its Express Migration program to provide a quick path for organizations to adopt its AI-driven security analytics solution efficiently.
Elastic (NYSE: ESTC) has announced that its Elasticsearch Open Inference API now supports Hugging Face models with native chunking through the integration of the semantic_text field. This advancement allows developers to rapidly deploy generative AI applications without the need to write custom chunking logic. The integration leverages Hugging Face Inference Endpoints, combining Hugging Face's embeddings with Elastic's retrieval relevance tools to enhance insights and search functionality.
Jeff Boudier, head of product at Hugging Face, highlighted that this integration provides developers with a complete solution to utilize open models for semantic search, hosted on Hugging Face's multi-cloud GPU infrastructure. Matt Riley, global VP & GM of search at Elastic, emphasized that this extension of GenAI and search primitives to Hugging Face developers strengthens their collaboration and simplifies the process of chunking and storing embeddings.
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