Categories Earnings, Technology

Elastic stock stretches upwards following strong Q1 earnings

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.

Elastic NV Customer Trend

READ: Coupa Software Q2 earnings: What’s on the cards

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.

READ: Nutanix beats the market in Q4, stock jumps

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 takeaways from General Mills’ Q3 2023 earnings report

Shares of General Mills Inc. (NYSE: GIS) were up nearly 3% on Thursday after the company delivered better-than-expected results for the third quarter of 2023 and raised its full-year guidance

FIVE Stock: Five Below is likely to continue the good show this year

For Five Below Inc. (NASDAQ: FIVE), the holiday season was more rewarding than expected as the high inflation and stressed personal finances made customers seek value. Earlier, the discount store

Earnings: Chewy (CHWY) swings to profit in Q4 on higher revenues

Chewy Inc. (NYSE: CHWY) has reported higher sales for the fourth quarter of 2022. Reflecting the strong top-line growth, the pet food company turned to profit from a loss last

Comments

  1. Pingback: Arie Baisch

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top