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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Revenue
- Revenue
Disaggregation of Revenue
The following table presents revenue by category (in thousands):
| Year Ended April 30, | ||||||
|---|---|---|---|---|---|---|
| 2025 | 2024 | 2023 | ||||
| Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | |
| Elastic Cloud | $687,619 | 46% | $547,520 | 43% | $424,053 | 40% |
| Other subscription | 696,901 | 47% | 629,086 | 50% | 560,709 | 52% |
| Total subscription | 1,384,520 | 93% | 1,176,606 | 93% | 984,762 | 92% |
| Services | 98,776 | 7% | 90,715 | 7% | 84,227 | 8% |
| Total revenue | $1,483,296 | 100% | $1,267,321 | 100% | $1,068,989 | 100% |
Concentration of Credit Risk
No customer accounted for 10% or more of net accounts receivable as of April 30, 2025. One customer, a channel partner, accounted for 13% of net accounts receivable as of April 30, 2024. The same customer accounted for 12% and 11% of total revenue during the years ended April 30, 2025 and 2024, respectively. No customer accounted for 10% or more of the Company’s total revenue for the year ended April 30, 2023.
Deferred Revenue
The Company recognized revenue of $660.9 million, $522.8 million, and $430.7 million for the years ended April 30, 2025, 2024, and 2023, 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, 2025 and April 30, 2024, unbilled accounts receivable was $2.5 million.
Remaining Performance Obligations
Remaining performance obligations (RPO) represent the amount of contracted future revenue that has not been recognized, including deferred revenue and non-cancelable contracted amounts that will be invoiced and recognized as revenue in future periods. The Company’s RPO excludes performance obligations from on-demand arrangements as there are no minimum purchase commitments associated with such arrangements.
As of April 30, 2025, the Company had $1.545 billion of RPO, of which the Company expects to recognize approximately 65% as revenue over the next twelve months, approximately 90% over the next twenty-four months, and the remainder thereafter.
Amortization expense with respect to deferred contract acquisition costs was $96.7 million, $78.5 million, and $68.9 million for the years ended April 30, 2025, 2024, and 2023, respectively. The Company didnot recognize any impairment of deferred contract acquisition costs for the years ended April 30, 2025, 2024, and 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.