Elastic Reports Strong Q1 Fiscal 2027 Earnings with Revenue Growth of $478M
Elastic (ESTC) reported strong financial results for the first quarter of fiscal year 2027, posting total revenue of $478 million—a 15% increase. Sales-led subscription revenue grew by 18%, reaching $399 million, and non-GAAP operating margin hit 16.2%. The company attributed its performance to strong sales execution and customer demand across key areas like search, AI, and security. Elastic ended the quarter with over 1,800 customers spending at least $100,000 annually in ACV (Annual Contract Value), marking a record for quarterly net additions. The company also highlighted continued growth momentum, citing CRPO of 21% and RPO of 27%, indicating sustained customer interest. The earnings call included forward-looking statements with risks outlined as per SEC guidelines. Elastic plans to host a webinar on improved metrics capability in September.
Tickers: $ESTC
Topics: Conference Call Earnings Financial Results