Elastic NV
For the period ended Jan 31, 2025. Filed Feb 28, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jan 31, 2025 · Filed Feb 28, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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Revenue
- Revenue
Disaggregation of Revenue
The following table presents revenue by category (in thousands):
| Three Months Ended January 31, · Nine Months Ended January 31, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |||||
| Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | |
| Elastic Cloud | $179,996 | 47% | $143,379 | 44% | $506,112 | 46% | $399,540 | 43% |
| Other subscription | 178,202 | 47% | 164,253 | 50% | 516,667 | 47% | 466,082 | 50% |
| Total subscription | 358,198 | 94% | 307,632 | 94% | 1,022,779 | 93% | 865,622 | 93% |
| Services | 23,885 | 6% | 20,325 | 6% | 72,085 | 7% | 66,700 | 7% |
| Total revenue | $382,083 | 100% | $327,957 | 100% | $1,094,864 | 100% | $932,322 | 100% |
Concentration of Credit Risk
No customer accounted for 10% or more of net accounts receivable as of January 31, 2025. One customer, a channel partner, accounted for 13% of net accounts receivable as of April 30, 2024. The same customer accounted for 12% of total revenue during the three and nine months ended January 31, 2025 and 11% of total revenue during the three and nine months ended January 31, 2024.
Deferred Revenue
The Company recognized revenue of $596.1 million and $474.4 million during the nine months ended January 31, 2025 and 2024, 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 condensed consolidated balance sheets. As of January 31, 2025 and April 30, 2024, unbilled accounts receivable was $2.4 million and $2.5 million, respectively.
Remaining Performance Obligations
As of January 31, 2025, the Company had $1.354 billion of remaining performance obligations. As of January 31, 2025, the Company expects to recognize approximately 91% of its remaining performance obligations as revenue over the next 24 months and the remainder thereafter.
Deferred Contract Acquisition Costs
Amortization expense with respect to deferred contract acquisition costs was $24.3 million and $71.5 million for the three and nine months ended January 31, 2025, respectively, and $20.4 million and $56.4 million for the three and nine months ended January 31, 2024, respectively. The Company didnot recognize any impairment of deferred contract acquisition costs for the three and nine months ended January 31, 2025 and 2024.
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