Strong Revenue Growth
Elastic reported a 16% year-over-year revenue growth for Q4, with total revenue reaching $388 million. Subscription revenue also grew 16%, and Elastic Cloud revenue increased by 23%.
Impressive Customer Metrics
Elastic ended the fiscal year with more than 1,510 customers spending over $100,000 annually and over 210 customers with more than $1 million in annual contract value.
Significant AI Adoption
Over 2,000 Elastic Cloud customers are using Elastic for GenAI use cases, with more than 310 customers spending over $100,000 annually. 25% of customers with over $1,000,000 in committed ACV are utilizing Elastic for GenAI initiatives.
Non-GAAP Operating Margin and Cash Flow
Elastic delivered a non-GAAP operating margin of 15% for Q4 and an adjusted free cash flow margin of 19% for the fiscal year.
Strategic Partnerships and Innovations
Elastic announced a new five-year strategic collaboration agreement with AWS and partnerships with Google and NVIDIA, enhancing its position in the AI and cloud markets.