Elastic N.V.
For the period ended Jul 31, 2025. Filed Aug 29, 2025.
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Jul 31, 2025 · Filed Aug 29, 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 condensed consolidated statements of operations were as follows (in thousands):
| Three Months Ended July 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating lease cost | $2,634 | $3,137 |
| Short-term lease cost | 670 | 540 |
| Variable lease cost | 475 | 402 |
| Total lease cost | $3,779 | $4,079 |
Lease term and discount rate information are summarized as follows:
| As ofJuly 31, 2025 | |
|---|---|
| Weighted average remaining lease term (in years) | 5.2 |
| Weighted average discount rate | 5.4% |
Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of July 31, 2025 were as follows (in thousands, by fiscal year):
| Remainder of 2026 | $7,475 |
| 2027 | 6,132 |
| 2028 | 3,974 |
| 2029 | 2,617 |
| 2030 | 1,438 |
| Thereafter | 7,006 |
| Total minimum lease payments | 28,642 |
| Less imputed interest | (4,487) |
| Present value of future minimum lease payments | 24,155 |
| Less current lease liabilities | (8,043) |
| Operating lease liabilities, non-current | $16,112 |
Future minimum lease payments as of July 31, 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.
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