Elastic NV
For the period ended Apr 30, 2025. Filed Jun 10, 2025.
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FY2025 · Filed Jun 10, 2025
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Leases
- Leases
The Company’s leases provide for rental of corporate office space under non-cancelable operating lease agreements that expire at various dates through fiscal 2036. The Company does not have any finance leases.
Lease Costs
Components of lease costs included in the consolidated statements of operations were as follows (in thousands):
| Year Ended April 30, | |||
|---|---|---|---|
| 2025 | 2024 | 2023 | |
| Operating lease cost | $11,102 | $12,114 | $12,411 |
| Short-term lease cost | 2,232 | 1,921 | 2,217 |
| Variable lease cost | 1,456 | 1,342 | 726 |
| Total lease cost | $14,790 | $15,377 | $15,354 |
Lease term and discount rate information are summarized as follows:
| As ofApril 30, 2025 | |
|---|---|
| Weighted average remaining lease term (in years) | 5.1 |
| Weighted average discount rate | 5.5% |
Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of April 30, 2025 were as follows (in thousands, by fiscal year):
| 2026 | $10,151 |
| 2027 | 5,483 |
| 2028 | 3,732 |
| 2029 | 2,279 |
| 2030 | 1,264 |
| Thereafter | 7,007 |
| Total minimum lease payments | 29,916 |
| Less imputed interest | (4,631) |
| Present value of future minimum lease payments | 25,285 |
| Less current lease liabilities | (8,928) |
| Operating lease liabilities, non-current | $16,357 |
Future minimum lease payments as of April 30, 2025 include future cash payments on leases with corresponding right-of-use assets which were written down for impairment due to facilities-related cost optimization actions during the year ended April 30, 2023. During the year ended April 30, 2023, the Company recorded an impairment charge of $5.1 million related to the exit from leased office space.
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