Elastic NV (NYSE: ESTC) shares are trading higher by over 17% after it reported better-than-expected Q1 FY24 results, provided an above-consensus Q2 outlook, and raised FY24 adjusted EPS guidance.
Revenue rose 17% Y/Y to $293.75 million, beating the consensus of $284.44 million.
Elastic Cloud revenue increased 24% Y/Y to $121 million in the quarter.
Adjusted operating income stood at $29 million, with a margin of 10% in the quarter.
The total subscription customer count stood at around 20,500, and the customer count with an Annual Contract Value (ACV) greater than $100,000 came in at over 1,190, with a net expansion rate of ...