Shares of Netherlands-based tech firm Elastic NV (NYSE: ESTC) continued its rally on Thursday, a day after it smashed past Wall Street estimates for the first quarter of 2020. Elastic stock, which had gained 21% so far this year till market close on Wednesday, shot up 15% during morning trade on Thursday.
A SaaS leader that offers solutions in data analytics and security, Elastic went public last year.
The company said its first-quarter revenues rose 58% to $89.7 million on strong customer momentum. Analysts had projected Q1 revenues of $86 million.
Subscription revenues accounted for 92% of total revenues. Subscription customers increased to over 8,800 in Q1, compared to around 8,100 in the prior sequential quarter.
Calculated billings improved 51% year-over-year.
Down the line, adjusted loss per share was narrowed by 6 cents to $0.32 in Q1, compared to $0.41 expected by the street.
Outlook
For the second quarter, the company expects total revenues between $95 million and $97 million and adjusted loss per share between $0.32 and $0.30.
For the full year, the company gave better guidance. For this period, revenues are expected in the range of $406-412 million, compared to the earlier estimate of $397-403 million.
Adjusted loss per share of $1.40 – $1.24 is expected in the place of the prior projection of a wider loss of $1.49 – $1.33.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Key highlights from Pfizer’s (PFE) Q1 2025 earnings results
Pfizer Inc. (NYSE: PFE) reported its first quarter 2025 earnings results today. Revenues decreased 8% year-over-year to $13.7 billion. GAAP net income decreased 5% to $2.96 billion, or $0.52 per
PYPL Earnings: PayPal reports higher Q1 2025 revenue and profit
PayPal Holdings Inc. (NASDAQ: PYPL) on Tuesday reported a modest increase in revenue for the first quarter of 2025 when the payment service giant's adjusted earnings rose by double digits.
General Motors (GM) Q1 2025 revenue and adj. earnings beat estimates
Auto giant General Motors (NYSE: GM) on Tuesday announced financial results for the first quarter of 2025, reporting an increase in revenue and adjusted profit. The results also topped expectations.
Comments
Comments are closed.