Elastic
ConvictionModerate
Open-source-anchored (AGPL/Elastic License) subscription SaaS: self-managed subscriptions plus consumption-based Elastic Cloud on AWS/Azure/GCP; land-and-expand sales-led + product-led motion
Revenue
$1.739BFY2026, +17% YoYRev growth
17% FY2026guiding ~14.6% for FY2027Gross margin
~78% non-GAAP~76% GAAP (FY2026Op margin
16.4% non-GAAP-2% GAAP (FY2026, GAAP operating loss ~$33MCapex intensity
Low single-digit % of revenueasset-light SaaS; Elastic Cloud runs on third-party hyperscalers, so heavy infra sits in COGS/hosting rather than capex); not separately emphasizedMarket cap
~$6.0Bearly July 2026; actual ~$6.03BPrice · 1-year trend
real · weekly$58-9% 1yUSD
52-week range
$54 – $65
52w lowas of 2026-07-02 · Yahoo Finance52w high
Primary source
Reported financials — SEC EDGAR
Audited GAAP figures pulled from SEC filings · latest filing 2026-06-08. The audited primary-source spine — not investment advice.
Revenue — annual (GAAP)
FY’22
$862M
FY’23
$1.1B+24%
FY’24
$1.3B+19%
FY’25
$1.5B+17%
FY’26
$1.7B+17%
Margins & balance sheet — FY’26
Gross margin76.1%
Operating margin-1.9%
Net margin21.1%
Net cash$198M
The read
Where our coverage leans
Coverage leans bullish
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Earnings, margins & COGS, the income-statement breakdown, SWOT, moats & dependencies, the supplier–customer ecosystem graph, top signals & trends, and the valuation range.
- Income statement & margin structure
- SWOT, moats & dependency map
- Supplier–customer ecosystem graph
- Signals, trends & valuation range
Not investment advice — analyst work product for a qualified professional.· intel vintage 2026-07 (FY2026 ended April 30, 2026; reported May 27, 2026; price as of early July 2026)· sign in (free) for the analyst summary; Pro unlocks full intelligence