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Elastic shares surge 15% after Q2 beat

Elastic shares surge 15% after Q2 beat
© Reuters. Elastic shares surge 15% after Q2 beat

Elastic N.V. (NYSE:) shares jumped more than 15% after-hours today following the company’s reported Q2 results, with EPS of $0.37 coming in better than the consensus estimate of $0.24.

Revenue grew 17% year-over-year to $311 million, beating the consensus estimate of $304.44M. Elastic Cloud revenue was $135M, representing an increase of 31% year-over-year.

Total subscription customer count in Q2 was approximately 20,700 compared to approximately 20,500 in Q1/24, and over 19,700 in Q2/23. Total customer count with annual contract value (ACV) greater than $100,000 was over 1,220 compared to over 1,190 in Q1/24, and over 1,050 in Q2/23.

For Q3/24, the company expects EPS in the range of $0.30-$0.32, compared to the consensus of $0.28, and revenue of $319-$321M, compared to the consensus of $318.6M.

For the full year, the company sees EPS at $1.06-$1.15, compared to the consensus of $1.09, and revenue at $1.247-$1.253 billion, compared to the consensus estimate of $1.247 billion.

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