Elastic NV
For the period ended Apr 30, 2024. Filed Jun 14, 2024.
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FY2024 · Filed Jun 14, 2024
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Revenue
- Revenue
Disaggregation of Revenue
The following table presents revenue by category (in thousands):
| Year Ended April 30, | ||||||
|---|---|---|---|---|---|---|
| 2024 | 2023 | 2022 | ||||
| Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | |
| Elastic Cloud | $547,520 | 43% | $424,053 | 40% | $298,615 | 35% |
| Other subscription | 629,086 | 50% | 560,709 | 52% | 500,155 | 58% |
| Total subscription | 1,176,606 | 93% | 984,762 | 92% | 798,770 | 93% |
| Services | 90,715 | 7% | 84,227 | 8% | 63,604 | 7% |
| Total revenue | $1,267,321 | 100% | $1,068,989 | 100% | $862,374 | 100% |
Concentration of Credit Risk
One customer, a channel partner, accounted for 13% and 12% of net accounts receivable as of April 30, 2024 and April 30, 2023, respectively. The same customer accounted for 11% of total revenue during the year ended April 30, 2024. No customer accounted for 10% or more of the Company’s total revenue for the years ended April 30, 2023 and 2022.
Deferred Revenue
The Company recognized revenue of $522.8 million, $430.7 million, and $354.4 million during the years ended April 30, 2024, 2023, and 2022, respectively, that was included in the deferred revenue balance at the beginning of each of the respective periods.
Unbilled Accounts Receivable
Unbilled accounts receivable is recorded as part of accounts receivable, net in the Company’s consolidated balance sheets. As of April 30, 2024 and April 30, 2023, unbilled accounts receivable was $2.5 million and $2.2 million, respectively.
Remaining Performance Obligations
As of April 30, 2024, the Company had $1.351 billion of remaining performance obligations. As of April 30, 2024, the Company expects to recognize approximately 88% of its remaining performance obligations as revenue over the next 24 months and the remainder thereafter.
Amortization expense with respect to deferred contract acquisition costs was $78.5 million, $68.9 million, and $60.7 million for the years ended April 30, 2024, 2023, and 2022, respectively. The Company did not recognize any impairment of deferred contract acquisition costs for the years ended April 30, 2024, 2023, and 2022.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.