Elastic raises fiscal 2027 outlook after Q1 revenue growth
Elastic reported first-quarter fiscal 2027 revenue of $478 million, up 15% year over year, and lifted full-year fiscal 2027 guidance to $1.998 billion to $2.010 billion.
On Thursday, Elastic (NYSE: ESTC ) discussed first-quarter financial results during its earnings call.
The full transcript is provided below.
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The full earnings call is available at Summary Elastic reported strong financial results for Q1 fiscal 2027, with total revenue of $478 million, up 15% year-over-year, and sales-led subscription revenue growing 18% to $399 million.
The company highlighted significant customer growth, particularly in those spending over $100k annually, and noted a strong adoption of AI features, with 37% of these customers using Elastic for AI use cases.
Strategic initiatives include investments in AI and security, with new releases such as VectorDB and enhancements in observability through Columnar Mode in Elasticsearch 9.5.
Elastic's security business is growing rapidly, driven by AI-led capabilities in threat detection and response, and the company acquired Deductive AI to enhance its AI SRE capabilities.
Guidance for fiscal 2027 has been raised, with expected total revenue of $1.998 billion to $2.010 billion and a non-GAAP operating margin of approximately 19.4%.
Full Transcript OPERATOR Good afternoon and welcome to the Elastic First Quarter Fiscal 2027 Earnings Results Conference Call.
All participants will be in listen-only mode.
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Please note this event is being recorded.
I would now like to turn the conference over to Alex Kurtz, Vice President of Investor Relations.
Please go ahead.
Alex Kurtz, Vice President of Investor Relations Good afternoon and thank you for joining us on today's conference call to discuss Elastic's first quarter fiscal 2027 financial results.
On the call we have Ash Kulkarni, Chief Executive Officer, and Navam Willyenda, Chief Financial Officer.
Following the prepared remarks, we will take questions.
Our press release was issued today after the close of the market and is posted on our website.
Slides which are supplemental to the call can also be found on Elastic Investor Relations website at ir.elastic.co.
Our discussion will include forward-looking statements which may include predictions, estimates, our expectations regarding the demand for our products and solutions and our future revenue and other information.
These forward-looking statements are based on factors currently known to us, speak only as of the date of this call, and are subject to risks and uncertainties that could cause actual results to differ materially.
We disclaim any obligation to update or revise these forward-looking statements unless required by law.
Please refer to the risks and uncertainties included in the press release that we issued earlier today, included in the slides posted on the Investor Relations website, and those more fully described in our filings with the Securities and Exchange Commission.
We will also discuss certain non-GAAP financial measures.
Disclosures regarding non-GAAP measures, including reconciliations with the most comparable GAAP measures, can be found in the press release and the slides.
Unless specifically noted otherwise, all results and comparisons are on a fiscal year-over-year basis.
Webcast replay of this call will be available on our company website under the Investor Relations link.
Our second quarter fiscal 2027 quiet period begins at the close of business on Friday, October 16, 2026.
We'll be hosting a virtual public webinar highlighting our improved metrics capability on September 22nd at 8:00 a.m.
Pacific Time which will be made available on our IR website for viewing.
See the Elastic Investor Relations website for more details.
With that, I'll turn it over to Ash.