Elastic Beats Q1 Estimates and Lifts FY26 Outlook

Elastic N.V. reported first-quarter fiscal 2026 revenue of $415 million, a 20% increase from a year earlier and ahead of the $397 million analysts expected. Subscription sales rose 20% to $389 million, while Elastic Cloud revenue grew 24% to $196 million. Adjusted earnings were $0.60 a share, beating the $0.42 consensus, and the company generated non-GAAP operating income of $65 million for a 16% margin. Chief Executive Officer Ash Kulkarni said the quarter "surpassed the high end of our guidance across all metrics," citing renewed demand for the company’s search-based AI platform. Cash, equivalents and marketable securities totaled $1.49 billion at quarter-end. Elastic raised its full-year outlook, forecasting fiscal 2026 revenue of $1.68 billion to $1.69 billion and adjusted earnings of $2.29 to $2.35 a share, both slightly above Wall Street estimates. For the current quarter ending in October, the company projects revenue of $415 million to $417 million and adjusted EPS of $0.56 to $0.58, also ahead of market expectations.