Elastic N.V. is a global software company specializing in Search AI technology, providing a platform that combines search capabilities with AI to analyze large datasets and derive insights in real time.

# Company Summary: Elastic N.V.

## Business Overview
Elastic N.V. is a global software company specializing in Search AI technology. Its platform combines the precision of search capabilities with the intelligence of artificial intelligence (AI) to help organizations analyze large datasets and derive insights in real time. The platform enables transformation of data into answers, actions, and outcomes across various use cases.

### Core Platform and Solutions:
- **Foundation:** Powered by Elasticsearch, a distributed, real-time vector database and analytics engine, capable of storing and searching all types of data (text, numbers, geospatial, structured/unstructured).
- **User Interface:** Kibana provides data visualization, dashboard creation, and platform management.
- **AI Integration:** Supports generative AI, large language models (LLMs), machine learning, anomaly detection, and retrieval-augmented generation (RAG).
- **Deployment:** Available as a cloud service (Elastic Cloud) on AWS, GCP, and Azure, or as self-managed software for deployment in public, private, hybrid, and multi-cloud environments.
- **Solutions Offered:**
  - **Elasticsearch:** Search applications, e-commerce, website and portal search, workplace search, customer support.
  - **Elastic Observability:** Log analytics, infrastructure monitoring, Application Performance Monitoring (APM), digital experience monitoring, AI for IT operations, and LLM observability.
  - **Elastic Security:** Threat detection, SIEM, SOAR, endpoint security, detection and response (XDR), cloud security.

## Business Model
- Revenue largely derived from subscriptions (93% in fiscal 2025 and 2024).
- Offers both free and paid features; paid features are sold via resource-based subscription tiers.
- The platform is accessible as a SaaS (Elastic Cloud) or self-managed software.
- Focuses on expanding adoption of cloud-based offerings and facilitating customer expansion within existing accounts.

## Customers
- As of April 30, 2025, the company has approximately **21,500 customers**.
- Customer base has grown from approximately **20,200** in fiscal 2023 and **21,000** in fiscal 2024.

## Employees and Financials
- **Employees:** The company employs **3,537 employees** located in over 40 countries globally.
- **Revenue:** 
  - For fiscal 2025: **$1.483 billion** (17% year-over-year growth from $1.267 billion in 2024).
  - For fiscal 2024: **$1.267 billion**.
  - For fiscal 2023: **$1.069 billion**.
- **Income:**
  - Fiscal 2025: **Net loss of $108.1 million**.
  - Fiscal 2024: **Net income of $61.7 million**.
  - Fiscal 2023: **Net loss of $236.2 million**.

## Additional Details
- The company maintains a distributed organizational structure without a principal executive office.
- Its main corporate office is registered in Amsterdam, the Netherlands.
- Its shares are traded on the NYSE under the symbol **ESTC** and are recognized as a large accelerated filer.
- The company emphasizes an open-source development model, with a community-based ecosystem supporting continuous innovation.

Elastic is a leading provider of a search and AI platform that empowers organizations to derive insights from their data in real-time.

# Company Overview: Elastic, the Search AI Company

## Business Model
Elastic provides a robust search and AI platform that helps organizations extract insights from their data in real-time and at scale. The Elastic Search AI Platform includes a suite of tools to enable real-time business problem-solving, leveraging AI and machine learning capabilities across various applications.

Elastic's offerings are built on the **Elastic Stack**, a collection of powerful software products that ingest, analyze, and visualize data from any source or format. Core components include:

- **Elasticsearch**: A highly scalable search and analytics engine that serves as the unified data store.
- **Kibana**: The visualization interface for exploring and managing data.
- **Elastic Agent, Beats, and Logstash**: Tools for data ingestion from diverse sources.

Elastic powers three main product solutions:
1. **Search**: Tailored for generative AI applications and various search needs in e-commerce, customer support, etc.
2. **Observability**: Provides insights across IT ecosystems, monitoring application performance and infrastructure health.
3. **Security**: Ensures protection against threats, offering capabilities for Security Information and Event Management (SIEM) and endpoint security.

## Key Metrics
- **Customers**: As of April 30, 2024, Elastic serves approximately **21,000 customers** globally, up from about ***20,200 in 2023***.
- **Employees**: The company has around **3,187 employees** located across more than **35 countries**.
- **Revenue**: The total revenue for the fiscal year ended April 30, 2024, was **$1.267 billion**, a year-over-year increase of **19%** from **$1.069 billion** in 2023.
- **Subscription Revenue**: Subscriptions accounted for **93%** of total revenue in fiscal years 2024, 2023, and 2022.
- **Net Income**: Reported net income was **$61.7 million** in fiscal 2024, after incurring net losses of **$236.2 million** in fiscal 2023 and **$203.8 million** in fiscal 2022.
- **Operating Cash Flow**: Net cash provided by operating activities was **$148.8 million** in fiscal 2024, increasing from **$35.7 million** in fiscal 2023.

## Growth Strategy
Elastic's growth strategies focus on:
- Increasing Elastic Cloud usage and introducing serverless offerings.
- Enhancing product adoption through improved user experience and community engagement.
- Expanding the customer base by acquiring new customers and expanding within the existing customer base through new use cases.
- Continued investment in research and development to maintain product leadership.

Overall, Elastic leverages advanced search capabilities and AI technology to support various applications while focusing on product-driven growth and continuous community engagement.

Elastic N.V.

10-K / June 10, 2025

10-K / June 14, 2024

10-K / June 10, 2025

Company Summary: Elastic N.V.

Business Overview

Core Platform and Solutions:

Business Model

Customers

Employees and Financials

Additional Details