Elastic N.V.
For the period ended Oct 31, 2025. Filed Nov 24, 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.
Oct 31, 2025 · Filed Nov 24, 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 October 31, · Six Months Ended October 31, | ||||||||
|---|---|---|---|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |||||
| Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | Amount | % ofTotalRevenue | |
| Annual Elastic Cloud | $156,868 | 37% | $123,402 | 34% | $302,780 | 36% | $234,433 | 33% |
| Monthly Elastic Cloud | 48,783 | 12% | 45,433 | 12% | 98,645 | 12% | 91,683 | 13% |
| Total Elastic Cloud | 205,651 | 49% | 168,835 | 46% | 401,425 | 48% | 326,116 | 46% |
| Other subscription | 192,048 | 45% | 171,972 | 47% | 384,857 | 46% | 338,465 | 47% |
| Total subscription | 397,699 | 94% | 340,807 | 93% | 786,282 | 94% | 664,581 | 93% |
| Services | 25,782 | 6% | 24,554 | 7% | 52,487 | 6% | 48,200 | 7% |
| Total revenue | $423,481 | 100% | $365,361 | 100% | $838,769 | 100% | $712,781 | 100% |
Concentration of Credit Risk
One customer, a channel partner, accounted for 11% of total revenue during the three and six months ended October 31, 2025 and 12% of total revenue during the three and six months ended October 31, 2024. No customer accounted for 10% or more of net accounts receivable as of October 31, 2025 and April 30, 2025.
Deferred Revenue
The Company recognized revenue of $553.1 million and $459.7 million for the six months ended October 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 October 31, 2025 and April 30, 2025, unbilled accounts receivable was $3.0 million and $2.5 million, respectively.
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 October 31, 2025, the Company had $1.507 billion of RPO, of which the Company expects to recognize approximately 64% as revenue over the next twelve months, approximately 90% over the next twenty-four months, and the remainder thereafter.
Deferred Contract Acquisition Costs
Amortization expense with respect to deferred contract acquisition costs was $27.0 million and $53.2 million for the three and six months ended October 31, 2025, respectively, and $24.0 million and $47.2 million for the three and six months ended October 31, 2024, respectively. The Company didnot recognize any impairment of deferred contract acquisition costs for the three and six months ended October 31, 2025 and 2024.
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