Slide 1: Corporate Overview and Q3FY26 Financial Results
Corporate Overview and Q3FY26 Financial Results February 26, 2026
Slide 2: Forward Looking Statements; Use of Non-GAAP Measures
Forward Looking Statements; Use of Non-GAAP Measures This presentation and the accompanying oral presentation contain forward-looking statements that involve substantial risks and uncertainties, which include, but are not limited to, statements regarding our expected financial results for the fiscal
Slide 3: Elastic, the Search AI Company
Elastic, the Search AI Company, combines the precision of search with the intelligence of AI to help everyone find answers that matter from all data. In real time. At scale.
Slide 4: Today's business priorities all connect to data
Todayʼs business priorities all connect to data Elevating Customer Experiences Improving Operational Resilience Mitigating Security Risk
Slide 5: We face an unprecedented explosion of unstructured data
We face an unprecedented explosion of unstructured data 175 ZB Of data will be generated in 2025 Unstructured data 90% Of enterprise data is unstructured Structured data Mainframe Era PC / Client Era Internet Era Virtual Era AI Era Worldwide IDC Global DataSphere Forecast, 2024 2028 AI Everywhere,
Slide 6: AI is reshaping the software stack
LLMs are the new operating system AI is reshaping the Data of all shapes and types are the fuel software stack Relevance is the key to production-ready AI
Slide 7: Elasticsearch was built for this moment
Elasticsearch was built for this moment Build Your Own Search & AI Observability Security Elasticsearch Platform Any data AI experiences Ingestion Processing Storage Search AI & ML Visualization AI Agents & Workflows
Slide 8: The Elasticsearch Platform provides everything developers need
The Elasticsearch Platform provides everything developers need to do context engineering right Hybrid Search Inference Embedding LLM VectorDB MCP Tools Agents Engine Service Models Observability Elasticsearch Platform Ingestion Processing Storage Search AI & ML Visualization AI Agents & Workflows
Slide 9: One platform, with the freedom to build anything
One platform, with the freedom to build anything Build Your Own Search & AI Observability Security Elasticsearch Platform Ingestion Processing Storage Search AI & ML Visualization AI Agents & Workflows
Slide 10: A comprehensive and open platform that delivers relevant results
A comprehensive and open platform that delivers relevant results in real-time Databases Build Your Own Search & AI Observability Security Legacy Systems 69% Improvement in customer Elasticsearch Platform and employee satisfaction Applications Public Cloud 60% Reduction in risk SaaS Apps Storage Sear
Slide 11: Adopting Elasticsearch has never been easier
Adopting Elasticsearch has never been easier Self-Managed Elastic Cloud Hosted Elastic Cloud Serverless Spin up Elastic Self-Managed Run Elastic in a cloud-hosted manner Deploy and use Elastic via Elastic with one simple command. with full control over your Elasticsearch Cloud Serverless without man
Slide 12: The flexibility to build your own search experiences
The flexibility to build your own search experiences Build Your Own Elasticsearch Search & AI Observability Security + Customers worldwide searching across millions of unique Elasticsearch Platform permutations of car configurations + Chose Elastic for the ability to Processing Ingestion Processing
Slide 13: A comprehensive, AI-driven observability solution
A comprehensive, AI-driven observability solution Build Your Own Elasticsearch Search & AI Observability Security + Ingests 400 terabytes of telemetry data per day with Elasticsearch Platform Elastic Observability + Provides a single view across infrastructure, monitoring Processing Ingestion Proces
Slide 14: A comprehensive, AI-driven security solution
A comprehensive, AI-driven security solution Build Your Own Elasticsearch Search & AI Observability Security + Over 1,000 pieces of internal network equipment and multiple Elasticsearch Platform security data silos + Chose Elastic for the ability to ingest all their security data, Processing Ingesti
Slide 15: Elastic has built a strong foundation for AI
Elastic has built a strong foundation for AI, 15 years in the making Agentic AI Advanced parallelism CPU, I/O, storage) Sparse indexing optimizations AI Workloads ACORN DISK BBQ and other Founded Elasticsearch performance optimizations Lexical Search Memory breakthroughs (up to 32x reduction) Elast
Slide 16: Elastic provides everything you need to build GenAI applications
Elastic provides everything you need to build GenAI applications Data Prep & Inference Retrieval Agentic AI ● Sparse & dense vector ● Vector search ● Tool building encoding models ● Lexical search ● Agentic workflows ● Multi-lingual embedding ● Tool selection ● Hybrid search models ● Memory systems
Slide 17: GenAI applications lead to better outcomes
GenAI applications lead to better outcomes Delivers the most Maintains security Reduces costs Complete platform relevant content and confidentiality for AI apps By providing the Before GenAI composes a Recognizes and information most relevant End to end platform to response, Elasticsearch implements
Slide 18: Recognized leadership in search, log analytics, and security analytics
Recognized leadership in search, log analytics, and security analytics Elasticsearch Observability Security Leader in The Forrester Wave™: Leader in the Gartner® Magic Leader in The Forrester Wave™: Cognitive Search, Oct. 2025 Quadrant™ for Observability Security Analytics Platforms, Jul. Platforms,
Slide 19: Trusted by organizations around the world
Trusted by organizations around the world AUTOMOTIVE / FINANCE TECHNOLOGY TELCO / MEDIA CONSUMER HEALTHCARE PUBLIC SECTOR RETAIL TRANSPORTATION
Slide 20: Why Elastic Wins
Why Elastic Wins Power of Elasticsearch Power of the Community ● Solving problems from a search and AI lens: ● Millions of developers with billions of downloads speed, scale, relevance ● Facilitates bottom up adoption within enterprises ● Strong foundation in AI/ML, with support for AI ● Generates a
Slide 21: Massive adoption world wide
Massive adoption world wide Community 17% 19% Millions of all professional developers of all AI developers use of developers world wide use Elasticsearch 1 Elasticsearch 1 use Elasticsearch 1 Open Source 5.5B #1 120K Total Downloads Search Engine & Vector Total GitHub Stars 3 Dlds. per Sec. / 15 Y
Slide 22: We land and expand with multiple paths to growth
We land and expand with multiple paths to growth Customers adopt higher subscription tiers We grow awareness We land via self-service cloud SMB Customer usage through open source and sales-led motion (enterprise & grows commercial) Customers add more workloads
Slide 23: Distribution and monetization model
Distribution and monetization model Elastic Cloud Paid Hosted Standard Gold Platinum Enterprise Serverless Search Observability Security Free & Open Paid Self-managed No Support Platinum Enterprise ● Resource-based pricing model ↔ Consumption-based subscriptions on Elastic Cloud ● Subscriptions gene
Slide 24: Segmentation optimized for performance
Segmentation optimized for performance Coverage Focus Model Largest opportunities, Direct Sales highest density Services Strategic coverage Partner Ecosystem Cloud, OEM/MSP, GSI, Resellers) Enterprise Expansion and new logo Commercial Expand Expansion Commercial Hunter New logo Commercial General B
Slide 25: Scaling with hyperscaler cloud partners
● Multi-year strategic agreements with co-investments Scaling with ● Powerful technology integrations to hyperscaler cloud accelerate Elastic Cloud adoption partners ● Preferential access and relationships under ISV programs ● Joint sales pursuits with sales incentives for hyperscaler sales teams
Slide 26: Elastic is wherever your data lives
Elastic is wherever your data lives Public cloud Hybrid On-premises Amazon Web Services Google Cloud Microsoft Azure 55 cloud regions globally
Slide 27: Q3 FY26 Results
Q3 FY26 Results
Slide 28: Q3 FY26 Results At a Glance
Q3 FY26 Results At a Glance 1,660 18% Total Revenue 21% Sales-led Subscription 18.6% Non-GAAP Customers with Growth year-over-year Revenue Growth Operating Margin* ACV $100K year-over-year* 470 Elastic Cloud customers with ACV $100K using Elastic for AI ACV Annual contract value Sales-led sub
Slide 29: Revenue Highlights
Revenue Highlights $ millions Q3 FY26 Y/Y Y/Y CC Total Revenue $450 18% 16% Total Subscription Revenue $426 19% 17% Total Sales-led Subscription Revenue $376 21% 19% Monthly Elastic Cloud $50 6% 6% Subscription % of 95% Total Revenue Sales-led Subscription Revenue % of 84% Total Revenue Professional
Slide 30: Strong track record of driving growth
Strong track record of driving growth 17% 16% 20% 16% 18% 19% 18% 22% 18% 21% 17% 16% 18% 15% 16% 19% 19% 20% 17% 19% As Reported Y/Y Growth % 81% 81% 82% 82% 84% As Reported Y/Y Growth % Constant Currency Y/Y Growth % Constant Currency Y/Y Growth % Sales-led Subscription Revenue as a % of Total Rev
Slide 31: $100K ACV Customer Trend
$100K ACV Customer Trend Change from Prior Quarter 50 60 40 50 40 50 40 50 60
Slide 32: Healthy Net Expansion Rate
Healthy Net Expansion Rate 112% Q3 FY26 Trailing twelve month measure Includes only consumption, not commitments, for customers on Cloud consumption contracts
Slide 33: Non-GAAP Income Statement Highlights
Non-GAAP Income Statement Highlights $ millions, except per share amounts Q3 FY26 % of Revenue Total GAAP Revenue $450 100% Gross Profit/Margin $353 78% Research & Development Expense $84 19% Sales & Marketing Expense $152 34% General & Administrative Expense $33 7% Operating Income/Margin $83 18.6%
Slide 34: Select Financial Measures
Select Financial Measures $ millions Q3 FY26 Adjusted Free Cash Flow* $54 Total Deferred Revenue $809 Remaining Performance Obligations $1,651 Current Remaining Performance Obligations $1,055 See appendix for reconciliation to GAAP
Slide 35: Select Financial Measures
Select Financial Measures $ millions, except employees Q3 FY26 Cash, Cash Equivalents, and Marketable Securities $1,248 Total Debt $571 Employees 3,921 See appendix for reconciliation to GAAP
Slide 36: Q4 and Full Year FY2026 Guidance
Q4 and Full Year FY2026 Guidance Q4 FY26 FY26 Total Revenue $445M - $447M $1.734B - $1.736B Year-over-year growth % 15% 17% Constant currency year-over-year growth % 13% 15% Sales-led Subscription Revenue $371M - $373M $1.434B - $1.436B Year-over-year growth % 18% 20% Constant currency year-over-yea
Slide 37: Appendix
Appendix
Slide 38: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Supplementary Information $ in millions Q3 FY26 Annual Elastic Cloud $169 Monthly Elastic Cloud 50 Total Elastic Cloud 218 Other subscription 207 Total subscription 426 Total revenue $450 Total sales-led subscription revenue $376 Sales-led subscription revenue is cal
Slide 39: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Gross Profit and Gross Margin $ in millions except percentages Q3 FY26 GAAP gross profit $343 Stock-based compensation expense and related employer taxes 7 Amortization of acquired intangibles 3 Non-GAAP gross profit $353 GAAP gross margin % 76% Stock-based compensat
Slide 40: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Operating Expenses $ in millions except percentages Q3 FY26 GAAP sales & marketing expenses $177 Stock-based compensation expense and related employer taxes (25) Amortization of acquired intangibles — Non-GAAP sales & marketing expenses $152 Y/Y 16% GAAP research & d
Slide 41: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Operating Income, Operating Margin $ in millions except percentages Q3 FY26 GAAP operating income $1 Stock-based compensation expense and related employer taxes 80 Amortization of acquired intangibles 3 Acquisition-related expenses — Restructuring and other related c
Slide 42: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Earnings per Share $ in millions except per share amounts Q3 FY26 GAAP net income per share - basic $0.07 Stock-based compensation expense and related employer taxes 0.76 Amortization of acquired intangibles 0.02 Acquisition-related expenses — Restructuring and other
Slide 43: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Adjusted Free Cash Flow $ in millions Q3 FY26 Net cash provided by operating activities $43 Less: Purchases of property and equipment (1) Add: Interest paid on long-term debt 12 Adjusted free cash flow $54 Net cash provided by operating activities (as a percentage of