Foreign exchangemixed · 4 filings
“The increase was due to increases of $6.8 million in interest and other investment income primarily from our marketable securities and $1.3 million in net foreign currency exchange gains.”10-Q · Feb 27, 2026 ↗
Elastic N.V.
ESTC
Market read
Elastic N.V.'s current read is isolated; its market group is not confirming.
The latest filing evidence is available. 0 of 36 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.
What changed
- Revenue increased 17.3% versus the comparable filing period.
Company-3.9% todayVolume comparison unavailable
Market group0 of 36 activeSoftware - Application · unavailable
Disclosed network0 of 8 confirmingNo filing-linked name is confirming now
What would change this read
Watch this read- ESTC's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if ESTC's group or a disclosed connection begins moving with it.
Research brief
The story so far
The latest filing evidence is available. 0 of 36 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 10 directly disclosed connections are confirming.
Evidence that supports
- Revenue increased 17.3% versus the comparable filing period.
- The operating loss narrowed by 21.4M.
Evidence that challenges
No thresholded adverse filing evidence is available yet.
What would clarify the read
- ESTC's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Business model and earnings drivers
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
Key research questions
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
Annual periods9
Price observations327
Usable filing statements172
Verified relationships10
Evidence supporting the case
- Latest annual revenue changed +17.3% year over year.
- Operating margin changed +1.8 percentage points in the latest annual period.
- Net margin changed +28.4 percentage points in the latest annual period.
Evidence challenging the case
- Diluted shares increased 3.4% in the latest annual period.
Questions before a position
- P/E is 57% below the available filing-peer median; determine whether growth and quality justify the difference.
- EV/sales is 29% below the available filing-peer median; determine whether growth and quality justify the difference.
Longer-term price context
Price as of Sep 10, 2026
83.526m+58.0%12m-8.4%24m—
Annual trajectory
Reported annual revenue and per-share history. This is accounting history, not a forecast.
PeriodRevenueYoYDiluted EPSShare change
2022-04-30$862.4M+41.7%$-2.20+6.1%
2023-04-30$1.1B+24.0%$-2.47+3.4%
2024-04-30$1.3B+18.6%$0.59+8.6%
2025-04-30$1.5B+17.0%$-1.04-0.3%
2026-04-30$1.7B+17.3%$3.43+3.4%
What management says matters
Persistent and emerging business drivers
Product pipeline and R&Dmixed · 3 filings
“The increase was primarily due to increases of $17.1 million in personnel and related costs and $2.7 million in cloud infrastructure costs related to our research and development activities.”10-Q · Feb 27, 2026 ↗
Capital investment and capacitymixed · 1 filings
“Net cash provided by investing activities of $10.8 million during the six months ended October 31, 2024 was primarily due to sales, maturities, and redemptions of marketable securities of $178.5 million, partially offset by cash used for the purchase of marke…”10-Q · Nov 24, 2025 ↗
Restructuring and cost reductionsnegative · 1 filings
“Restructuring and other related charges Year Ended April 30, Change 2025 2024 $ % (in thousands) Restructuring and other related charges $ 225 $ 4,917 $ (4,692) (95) % Restructuring and other related charges decreased by $4.7 million for the year ended April…”10-K · Jun 10, 2025 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 5.1× · EV/sales 5.0×. Comparisons use only industry-matched filing peers.
Scenario scaffold
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
83.16-3.9% today
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 14:05 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for ESTC. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Earlier comparable assessment · baseline
Fundamentals strengthened in the latest filing
10-K filed 2026-06-08 against the comparable filing from 2025-06-10.
A newer Struct brief is shown above. This older assessment remains here for comparison, not as the current read.
OperationsconstructiveEvidence score +3
liquidityneutralEvidence score 0
valuationmixed
What improved
- Revenue increased 17.3% versus the comparable filing period.
- The operating loss narrowed by 21.4M.
What weakened
No thresholded deterioration was identified.
Filing receipts
“Net Cash Provided By (Used In) Investing Activities Net cash provided by investing activities of $26.1 million during the year ended April 30, 2026 was primarily due to sales, maturities, and redemptions of marketable securities of $597.4 million, partially offset by purchases of marketable securities of $528.9 million, cash paid for business acquisitions, net of cash acquired, of $36.8 million, and purchases of property and equipment of $5.1 million.”
“Net cash used in investing activities of $118.7 million during the year ended April 30, 2025 was primarily due to purchases of marketable securities of $549.6 million and purchases of property and equipment of $4.3 million, partially offset by sales, maturities, and redemptions of marketable securities of $435.3 million.”
“Subscription gross margin increased to 81% for the year ended April 30, 2026 compared to 80% for the prior year primarily due to efficiencies realized in managing our cloud hosting costs relative to revenue growth.”
Retrospective baseline calibration. It was generated after the filing date and is not part of Jodie's live track record.
Business ecosystem
The relationships behind ESTC
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
CSCOCisco Systems, Inc.supplierJun 8, 2026 ▾
“For Elastic Observability: software vendors with specific observability solutions, such as AppDynamics and Splunk (each owned by Cisco Systems), Datadog, Dynatrace, and New Relic.”
DDOGDatadog, Inc.supplierJun 8, 2026 ▾
“For Elastic Observability: software vendors with specific observability solutions, such as AppDynamics and Splunk (each owned by Cisco Systems), Datadog, Dynatrace, and New Relic.”
DTDynatrace, Inc.supplierJun 8, 2026 ▾
“For Elastic Observability: software vendors with specific observability solutions, such as AppDynamics and Splunk (each owned by Cisco Systems), Datadog, Dynatrace, and New Relic.”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 11 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
ESTC is currently a Follower in the organic co-movement group Software - Application. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.