Strong fundamentals and customer momentum are positive, but the decelerating revenue guidance suggests near-term headwinds. Traders should monitor whether AI-driven product adoption can sustain growth velocity in the next quarter.
Price Chart
Executive Summary
Elastic reported strong Q3 fiscal 2026 results with $450 million in revenue, up 18% year-over-year, and non-GAAP EPS of $0.73. The company beat guidance across key metrics, highlighted by 21% growth in sales-led subscription revenue and a 112% net expansion rate. However, it issued slightly lower Q4 revenue guidance of $445–447 million, reflecting expected deceleration.
Key Financial Metrics
Key Facts
- Q3 revenue was $450 million, up 18% YoY (16% constant currency)
- GAAP EPS was $0.07; non-GAAP EPS was $0.73
- Sales-led subscription revenue grew 21% YoY to $376 million
- Net Expansion Rate was 112%
- Company repurchased $186 million of shares in Q3
- Q4 revenue guidance is $445–447 million (15% YoY growth), below Q3's 18% growth
Financial Impact
Revenue grew $67.8 million YoY to $450 million; non-GAAP operating margin remained strong at 18.6%
Segment Breakdown
| Segment | Revenue | Growth |
|---|---|---|
| Sales-led subscription | $376.0M | +21.0% |
Risk Factors
- Q4 revenue growth guidance implies deceleration from Q3
- Forward-looking statements cite macroeconomic and geopolitical risks
- Currency fluctuations could impact international revenue
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001707753-26-000003 |
| Document: estc-20260226.htm | 0001707753-26-000003 |
| Document: 0001707753-26-000003-index-headers.html | 0001707753-26-000003 |
| Document: 0001707753-26-000003-index.html | 0001707753-26-000003 |
| Document: 0001707753-26-000003.txt | 0001707753-26-000003 |
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