Slide 1: Corporate Overview and Q1FY26 Financial Results
Corporate Overview and Q1FY26 Financial Results August 28, 2025
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: But the mountain of data is enormous
But the mountain of data is enormous. People canʼt find what theyʼre looking for. 480EB 1 EB 1000 PB 1,000,000 TB Data produced daily by 2025 *Source: IDC Global DataSphere and StorageSphere Forecasts
Slide 6: Generative AI is disrupting every business
Generative AI is disrupting every business n 72% 300M 10 ORGANIZATIONS JOBS AUTOMATED TECHNOLOGY SHIFTS have adopted AI in 1 or more Forecasted impact of Personalization, automation business functions* Generative AI & productivity Mainframes Databases Microprocessor Modern OS WWW Cloud Mobile GAI 1
Slide 7: Search is critical for Generative AI
Relevance & natural language understanding Search is at the forefront of latest advancements Search is Optimized to scale large data volumes critical for Search delivers results with speed and at a lower cost Generative AI Foundational framework for AI apps Search is an investment in harvesting data
Slide 8: One platform, two out-of-the-box solutions, the freedom to build anything
One platform, two out-of-the-box solutions, the freedom to build anything Build your own Out-of-the-box solutions Elasticsearch Observability Security Search AI Platform Ingestion Processing Storage Search AI analysis Visualization Agents and workflows Search AI Lake
Slide 9: A comprehensive and open platform that delivers relevant results in real-time
A comprehensive and open platform that delivers relevant results in real-time Databases Build your own Out-of-the-box solutions Legacy Systems Elasticsearch Observability Security 69% Improvement in customer Search AI Platform and employee satisfaction Applications Public Cloud 60% Reduction in risk
Slide 10: Featuring the Industry's Only Search AI Lake
Featuring the Industryʼs Only Search AI Lake Build your own Out-of-the-box solutions Elasticsearch Observability Security Search AI Platform Ingestion Processing Storage Search AI analysis Visualization Agents and workflows Search AI Lake
Slide 11: Search AI Lake: A whole new architecture for the Gen AI era
Search AI Lake: A whole new architecture for the Gen AI era Data Warehouse Data Lake Lakehouse Search AI Lake Response time: Response time: Response time: Response time: 10s of Seconds Minutes Seconds Milliseconds Elasticʼs Search AI Lake is a stateless, AI-optimized data repository for both structu
Slide 12: Adopting Search AI Has Never Been Easier
Adopting Search AI Has Never Been Easier Self-Managed Elastic Cloud Hosted Elastic Cloud Serverless Spin up Elastic Self-Managed AutoOps on Elastic Cloud Hosted Deploy and use Elastic via Elastic with one simple command. provides easy cluster management, Cloud Serverless without managing the with pe
Slide 13: The speed, scale, and flexibility of the Search AI Platform
The speed, scale, and flexibility of the Build your own Out-of-the-box solutions Search AI Platform Elasticsearch Observability Security + One of the world's leading digital travel companies, ingesting 100 Search AI Platform terabytes of data per day to support customers + Chose Elastic to tackle th
Slide 14: The flexibility to build your own search experiences
Build your own Out-of-the-box solutions The flexibility to Elasticsearch Observability Security build your own Search AI Platform search experiences + Customers worldwide searching Ingestion Processing Visualization Agents and Storage Search AI analysis across millions of unique workflows Search AI
Slide 15: A comprehensive, AI Driven observability solution
Build your own Out-of-the-box solutions A comprehensive, AI Elasticsearch Observability Security Driven observability Search AI Platform solution + Ingests 400 terabytes of Ingestion Processing Visualization Agents and Storage Search AI analysis telemetry data per day with workflows Search AI Lake E
Slide 16: A comprehensive, AI driven security solution
Build your own Out-of-the-box solutions A comprehensive, AI Elasticsearch Observability Security driven security Search AI Platform solution + Over 1,000 pieces of internal Ingestion Processing Visualization Agents and Storage Search AI analysis network equipment and multiple workflows Search AI Lak
Slide 17: Years of Search and AI Expertise to Search AI
Years of Search and AI Expertise ⟶ Search AI Foundational 2018 2021 2022 2023 2024 technical building Support for Bring your own Native support Support for Most downloaded blocks within the supervised and transformer for vector search domain- specific Vector DB Elastic Stack unsupervised models (e.
Slide 18: Elastic provides ALL the capabilities you need to power GenAI
AI model provider Document-level security Hybrid search (text + vector) Choice and flexibility of embedding models AI security and operations Elastic provides ALL Autocomplete the capabilities you Optimized for text, geo, and other data need to power GenAI MLOps platforms Store and Most vector searc
Slide 19: A safer, more cost effective approach to GenAI for more relevant results
A safer, more cost effective approach to GenAI for more relevant results 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 resp
Slide 20: Search AI expertise built into each Elastic solution
Search AI expertise built into each Elastic solution From Search to Observability to Security Elasticsearch Observability Security Semantic Search Anomaly Detection Threat Intelligence Image Search AIOps Automated Alerting Sentiment Analysis Automatic Import AI Assistant Recommendations Interactive
Slide 21: Recognized leadership in search, log analytics, and security analytics
Recognized leadership in search, log analytics, and security analytics Elasticsearch Observability Security Leader in the IDC Marketscape: Leader in the Gartner® Magic Leader in IDC Marketscape for Knowledge Discovery for Quadrant™ for Observability SIEM 2024 External-Facing Use Cases 2024 Platforms
Slide 22: Trusted by organizations around the world
Trusted by organizations around the world
Slide 23: Why Elastic Wins
Why Elastic Wins Power of the Platform 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 an
Slide 24: Elastic's growth vectors
Elasticʼs growth vectors New customers Customer data Customers adopt adopt Elastic volume grows more use cases Customers adopt Customers adopt Customers adopt higher more solutions the cloud subscription tiers
Slide 25: 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 26: Low-friction go-to-market model
Low-friction go-to-market model Customer Segment Coverage Model Enterprise Direct Sales Services Partner Ecosystem Cloud, OEM/MSP, GSI, Resellers) Commercial SMB High automation, self-serve product-led motion
Slide 27: 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 28: 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 29: Sustaining the cloud momentum
Sustaining the cloud momentum Track record of Organic Growth Strong Customer Robust growth at scale Acquisition Expansion Strong Sustained, Organic GTM Momentum Thriving Hyperscaler Consumption Mix Shift to Cloud Partnerships Patterns
Slide 30: Q1 FY26 Results
Q1 FY26 Results
Slide 31: Q1 FY26 Results At a Glance
Q1 FY26 Results At a Glance 1,550 20% Total Revenue 22% Sales-led Subscription 16% Non-GAAP Operating Customers with Growth year-over-year Revenue Growth Margin* ACV $100K year-over-year 24% Elastic Cloud Revenue Growth year-over-year ACV Annual contract value Sales-led Subscription Revenue is
Slide 32: Revenue Highlights
Revenue Highlights $ millions Q1 FY26 Y/Y Y/Y CC** Total Revenue $415 20% 18% Total Subscription Revenue $389 20% 19% Monthly Elastic Cloud $50 8% 8% Total Sales-led Subscription Revenue $339 22% 20% Elastic Cloud Revenue $196 24% 24% Subscription % of 94% Total Revenue Sales-led Subscription Revenu
Slide 33: Strong track record of driving growth
Strong track record of driving growth 18% 18% 17% 16% 20% 18% 17% 17% 16% 18% As Reported Y/Y Growth % Constant Currency Y/Y Growth %
Slide 34: Strong track record of driving growth
Strong track record of driving growth 23% 22% 18% 19% 22% 30% 25% 26% 23% 24% 24% 22% 19% 19% 20% 30% 25% 26% 23% 24% 80% 80% 81% 81% 82% 45% 46% 47% 47% 47% As Reported Y/Y Growth % As Reported Y/Y Growth % Constant Currency Y/Y Growth % Constant Currency Y/Y Growth % Sales-led Subscription Revenue
Slide 35: $100K ACV Customer Trend
$100K ACV Customer Trend Change from Prior Quarter 30 30 50 60 40 50 40 50 40
Slide 36: Healthy Net Expansion Rate
Healthy Net Expansion Rate 112% Q1 FY26 Trailing twelve month measure Includes only consumption, not commitments, for customers on Cloud consumption contracts
Slide 37: Non-GAAP Income Statement Highlights
Non-GAAP Income Statement Highlights $ millions, except per share amounts Q1 FY26 % of Revenue Total Revenue $415 100% Gross Profit/Margin $327 79% Research & Development Expense $81 20% Sales & Marketing Expense $150 36% General & Administrative Expense $31 7% Operating Income/Margin $65 16% Earnin
Slide 38: Select Financial Measures
Select Financial Measures $ millions, except employees Q1 FY26 Adjusted Free Cash Flow* $116 Cash, Cash Equivalents, and Marketable Securities $1,494 Total Deferred Revenue $755 Remaining Performance Obligations $1,461 Current Remaining Performance Obligations $956 Employees 3,711 See appendix for
Slide 39: Q1 and Full Year FY2026 Guidance
Q1 and Full Year FY2026 Guidance Q2 FY26 FY26 Total Revenue $415M - $417M $1.679B - $1.689B Year-over-year growth % 14% 14% Constant currency year-over-year growth % 14% 13% Non-GAAP Operating Margin ~16% ~16% Non-GAAP Diluted Earnings Per Share $0.56 - $0.58 $2.29 - $2.35 Diluted Weighted Average S
Slide 40: Appendix
Appendix
Slide 41: Supplemental Information
Supplemental Information $ in millions Q1 FY26 Annual Elastic Cloud $146 Monthly Elastic Cloud 50 Total Elastic Cloud 196 Other subscription 193 Total subscription 389 Total revenue $415 Total sales-led subscription revenue $339 Sales-led subscription revenue is calculated as total subscription reve
Slide 42: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Gross Profit and Gross Margin $ in millions except percentages Q1 FY26 GAAP gross profit $319 Stock-based compensation expense and related employer taxes 7 Amortization of acquired intangibles 2 Non-GAAP gross profit $327 GAAP gross margin % 77% Stock-based compensat
Slide 43: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Operating Expenses $ in millions except percentages Q1 FY26 GAAP sales & marketing expenses $174 Stock-based compensation expense and related employer taxes (24) Amortization of acquired intangibles — Non-GAAP sales & marketing expenses $150 Y/Y 11% GAAP research & d
Slide 44: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Operating Loss / Income, Operating Margin, and Loss / Earnings per Share $ in millions except percentages and per share amounts Q1 FY26 GAAP operating loss $(9) Stock-based compensation expense and related employer taxes 73 Amortization of acquired intangibles 2
Slide 45: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Adjusted Free Cash Flow $ in millions Q1FY26 Net cash provided by operating activities $105 Less: Purchases of property and equipment (1) Add: Interest paid on long-term debt 12 Adjusted free cash flow $116 Net cash provided by operating activities (as a percentage o