Elastic N.V.
For the period ended Jan 31, 2026. Filed Feb 27, 2026.
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Jan 31, 2026 · Filed Feb 27, 2026
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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 January 31, | Nine Months Ended January 31, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Operating lease cost | $2,116 | $2,541 | $7,233 | $8,558 |
| Short-term lease cost | 615 | 507 | 1,939 | 1,707 |
| Variable lease cost | 320 | 312 | 1,305 | 1,039 |
| Total lease cost | $3,051 | $3,360 | $10,477 | $11,304 |
Lease term and discount rate information are summarized as follows:
| As ofJanuary 31, 2026 | |
|---|---|
| Weighted average remaining lease term (in years) | 5.5 |
| Weighted average discount rate | 5.3% |
Future minimum lease payments under non-cancelable operating leases on an undiscounted cash flow basis as of January 31, 2026 were as follows (in thousands, by fiscal year):
| Remainder of 2026 | $2,006 |
| 2027 | 6,977 |
| 2028 | 4,642 |
| 2029 | 2,739 |
| 2030 | 1,438 |
| Thereafter | 7,006 |
| Total minimum lease payments | 24,808 |
| Less imputed interest | (3,731) |
| Present value of future minimum lease payments | 21,077 |
| Less current lease liabilities | (7,092) |
| Operating lease liabilities, non-current | $13,985 |
During the nine months ended January 31, 2026, the Company executed an operating lease agreement for an office space with an expected commencement date in the first quarter of fiscal 2027 and a lease term of approximately 8.5 years. The undiscounted future minimum lease payments as of January 31, 2026 are approximately $7.9 million.
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