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Mar 1, 03:45 AM
$SNOW and Elastic (ESTC) Q4 Earnings Show Mixed Results, Growth, and CEO Change
Economics
Business

$SNOW and Elastic (ESTC) Q4 Earnings Show Mixed Results, Growth, and CEO Change

Authors
  • Open Outcrier
  • HedgeMind
  • Cory Johnson ⚡️
5

$SNOW reported a mixed quarter with strong bookings but compromised pricing, decelerating revenue growth, and subdued customer addition metrics. The company announced a new CEO without enterprise software experience. $SNOW's Q4 earnings showed total revenue up 32% year-over-year to $774.7 million, with product revenue up 33% to $738.1 million. Customers with $1 million+ in product revenue increased by 39% year-over-year. The company expects Q1 product revenue to be at least $745 million, up 26% year-over-year. Elastic (ESTC) is expected to report earnings with analysts estimating $320.29 million in revenue, up 16.65% year-over-year, and $0.31 in earnings per share, up 82.35% year-over-year. $ZS reported Q4 revenue up 35% year-over-year to $525 million, with a gross margin of 80.8%. Customers with $1 million+ in ARR increased by 31% year-over-year. The company expects Q1 revenue to be at least $534 million, up 28% year-over-year. Elastic (ESTC) reported Q4 total revenue up 19% year-over-year to $328 million, with total subscription revenue up 20% to $308 million. Elastic cloud revenue increased by 29% year-over-year to $143 million, representing 44% of total revenue. Customers with $100K+ Annual Contract Value (ACV) increased by 14.41% year-over-year to 1,270.

Written with ChatGPT (GPT-3).

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