Slide 1: Corporate Overview and Q1FY27 Financial Results
Corporate Overview and Q1FY27 Financial Results August 27, 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: Key Metrics Q1FY27
KEY METRICS Q1FY27 Results Sales-led Subscription Revenue* Current Remaining Performance Obligations (cRPO) TOTAL REVENUE $478M $399M $1.153B +15% Y/Y · +15% Y/Y in CC +18% Y/Y · +17% Y/Y in CC +21% Y/Y · +20% Y/Y in CC Non-GAAP Operating Margin* Customers with ACV >$100K 16.2% 1,800+ ACV = annual c
Slide 4: 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. 4
Slide 5: Today's business priorities all connect to data
Today’s business priorities all connect to data Elevating Customer Experiences Improving Operational Resilience Mitigating Security Risk 5
Slide 6: Unprecedented explosion of unstructured data
We face an unprecedented explosion of unstructured data 175 ZB Of data was 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, But
Slide 7: AI is reshaping the software stack
LLMs are the new operating system AI is Data of all shapes and types are the fuel reshaping the software stack Relevance is the key to production-ready AI 7
Slide 8: 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 8
Slide 9: Elasticsearch Platform provides everything developers need for context engineering
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 9
Slide 10: 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 10
Slide 11: 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 Observability Security 69% Search & AI Legacy Systems Improvement in customer Elasticsearch Platform and employee satisfaction Applications Public Cloud 60% Reduction in risk SaaS Apps Storage Sear
Slide 12: 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 with Deploy and use Elastic via Elastic Cloud with one simple command. full control over your Elasticsearch Serverless without man
Slide 13: Elastic has built a strong foundation for AI, 15 years in the making
Agentic AI Elastic has built a strong foundation for AI, Advanced parallelism (CPU, I/O, storage) 15 years in the making Sparse indexing optimizations ACORN DISK BBQ and other performance optimizations Elastic Inference Service MCP Tools AI Workloads Agent Builder NVIDIA Hardware Acceleration Founde
Slide 14: Elastic provides everything you need to build AI applications
Elastic provides everything you need to build AI 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 ● G
Slide 15: AI applications lead to better outcomes
AI 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 th
Slide 16: 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 IDC MarketScape for Cognitive Search, Oct. 2025 Quadrant™ for Observability Worldwide SIEM 2026, Jul. 2026 Platforms, Jul.
Slide 17: Trusted by organizations around the world
Trusted by organizations around the world AUTOMOTIVE / FINANCE TECHNOLOGY TELCO / MEDIA CONSUMER HEALTHCARE PUBLIC SECTOR RETAIL TRANSPORTATION 17
Slide 18: 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 an ent
Slide 19: 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 use Elasticsearch 1 Elasticsearch 1 Elasticsearch 1 Open Source 5.9B #1 125K+ Total Downloads Search Engine & Vector Total GitHub Stars (12 Dlds. per Sec. / 15
Slide 20: 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 20
Slide 21: 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 22: Elastic & Hyperscalers: Powering AI innovation at scale
Elastic & Hyperscalers: Powering AI innovation at scale Elastic partners with the world’s leading cloud providers to deliver our Search AI Platform that powers search, observability, and security in 50+ cloud regions globally GenAI Partner of The Year 5x Partner of The Year 2x Partner of The Year ●
Slide 23: The Elasticsearch Platform is available wherever your data lives
The Elasticsearch Platform is available wherever your data lives Public cloud Hybrid On-premises Amazon Web Services Google Cloud Microsoft Azure 60+ cloud regions globally 23
Slide 24: Customer Stories
Customer Stories
Slide 25: GitHub brings semantic search to billions of documents with Elastic
READ THE STORY Overview Challenges Software & Technology | United States GitHub is the world’s largest software development platform, supporting more ● Traditional keyword search struggled 395M+ with natural-language and AI-driven Repositories and billions of than 180M developers and 4M organization
Slide 26: How Cathay Pacific unified observability on Elastic Cloud
WATCH VIDEO READ THE STORY Aviation and transport | Singapore Overview Challenges Cathay Pacific, the premium airline of 30% the 80-year-old Cathay group, runs ● Disconnected monitoring tools made Reduction in operational noise, 300+ mission-critical applications it impossible to see a customer with
Slide 27: How Visa used Elastic Workflows to cut alert triage
READ THE STORY Financial Services | United States Overview Challenges Visa is a world leader in digital payments, ● Manual follow-up searches added 10– Min → sec facilitating transactions between 20 minutes to every alert investigation. consumers, merchants, financial institutions and government ent
Slide 28: Medium-term Financial Framework
Medium-term Financial Framework
Slide 29: Medium-term financial framework
Medium-term financial framework Base Growth GenAI Tailwinds Target Growth Sales-led Subscription 15%+ 5%+ 20%+ Revenue Continued + Growing = Base growth + penetration of GenAI Growth execution via GenAI use cases tailwinds core solution set Adj. FCF Margin Opex flexibility to invest in profitable gr
Slide 30: Q1 FY27 Results
Q1 FY27 Results
Slide 31: Sales-led subscription growth drives our model
Sales-led subscription growth drives our model Total Revenue Sales-led Subscription Revenue* $ millions $ millions $478 $450 $451 $415 $423 As Reported Y/Y Growth Constant Currency Y/Y Growth * See appendix for reconciliation to the most directly comparable GAAP financial measure. 31
Slide 32: Top-line results powered by our >$100K ACV customers
Top-line results powered by our >$100K ACV customers >$100K ACV >$1M ACV Customers Customers >240 >210 >165 FY24 FY25 FY26 32
Slide 33: Customer commitments remain strong
Customer commitments remain strong Current Remaining Performance Remaining Performance Obligations (cRPO) Obligations (RPO) $ billions $ billions As Reported Y/Y Growth Constant Currency Y/Y Growth 33
Slide 34: Driving ongoing leverage in our model
Driving ongoing leverage in our model Quarterly Non-GAAP Operating Margin* Annual Non-GAAP Operating Margin* *See appendix for reconciliation to the most directly comparable GAAP financial measure. 34
Slide 35: Solid history of adjusted free cash flow growth
Solid history of adjusted free cash flow growth TTM Adj. FCF* Annual Adj. FCF* $ millions $ millions Adjusted FCF Margin *See appendix for reconciliation to the most directly comparable GAAP financial measure. 35
Slide 36: Revenue Highlights
Revenue Highlights $ millions Q1 FY27 Y/Y Y/Y CC Total Revenue $478 15% 15% Total Subscription Revenue $449 15% 15% Total Sales-led Subscription Revenue* $399 18% 17% Monthly Elastic Cloud $50 1% 1% Subscription % of Total Revenue 94% Sales-led Subscription Revenue % of 83% Total Revenue* Profession
Slide 37: GAAP Statement Highlights
GAAP Statement Highlights $ millions, except per share amounts Q1 FY27 % of Revenue GAAP Revenue $478 100% Gross Profit/Margin $356 74% Research & Development Expense $112 23% Sales & Marketing Expense $199 42% General & Administrative Expense $48 10% Restructuring and other related charges $20 4% O
Slide 38: Non-GAAP Statement Highlights
Non-GAAP Statement Highlights* $ millions, except per share amounts Q1 FY27 % of Revenue Total GAAP Revenue $478 100% Gross Profit/Margin $366 77% Research & Development Expense $87 18% Sales & Marketing Expense $173 36% General & Administrative Expense $29 6% Operating Income/Margin $77 16% Earning
Slide 39: Select Financial Measures
Select Financial Measures $ millions, except NER, and employees Q1 FY27 Adjusted Free Cash Flow* $143 Total Deferred Revenue $884 Remaining Performance Obligations $1,854 Current Remaining Performance Obligations $1,153 Cash, Cash Equivalents, and Marketable Securities $1,461 Total Debt $575 Employe
Slide 40: Guidance
Guidance
Slide 41: Updated FY27 Guidance
Updated FY27 Guidance Metric Prior Guidance Guidance Change Updated Guidance Total Revenue $1.985B $2.000B $11.5M (at midpoint) $1.998B $2,010B Constant currency Y/Y growth midpoint 14.5% 80bps raise to CC midpoint 15.3% Sales-Led Subscription $1.673B $1.688B $7.5M (at midpoint) $1.682B $
Slide 42: Q2 & FY27 Guidance
Q2 & FY27 Guidance Q2 FY27 FY27 Total Revenue $486.5 $2,004.0 Year-over-year growth % 14.9% 15.2% Constant currency year-over-year growth % 15.0% 15.3% Sales-led Subscription Revenue $408.0 $1,688.0 Year-over-year growth % 16.9% 17.4% Constant currency year-over-year growth % 17.1% 17.5% Non-GAAP Op
Slide 43: Appendix
Appendix
Slide 44: GAAP to Non-GAAP Reconciliations Gross Profit and Gross Margin
GAAP to Non-GAAP Reconciliations Gross Profit and Gross Margin $ in millions except percentages Q1 FY27 GAAP gross profit $356 Stock-based compensation expense and related employer taxes 8 Amortization of acquired intangibles 3 Non-GAAP gross profit $366 GAAP gross margin % 74% Stock-based compensat
Slide 45: GAAP to Non-GAAP Reconciliations Operating Expenses
GAAP to Non-GAAP Reconciliations Operating Expenses $ in millions except percentages Q1 FY27 GAAP sales & marketing expenses $199 Stock-based compensation expense and related employer taxes (26) Non-GAAP sales & marketing expenses $173 Y/Y 15% GAAP research & development expenses $112 Stock-based co
Slide 46: GAAP to Non-GAAP Reconciliations (Loss) / Earnings per Share
GAAP to Non-GAAP Reconciliations (Loss) / Earnings per Share Q1 FY27 GAAP net loss per share - basic & diluted ($0.16) Stock-based compensation expense and related employer taxes 0.74 Amortization of acquired intangibles 0.02 Acquisition-related expenses 0.01 Restructuring and other related charges
Slide 47: GAAP to Non-GAAP Reconciliations Sales-led Subscription Revenue
GAAP to Non-GAAP Reconciliations Sales-led Subscription Revenue $ in millions Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 Annual Elastic Cloud $146 $157 $169 $170 $185 Monthly Elastic Cloud 50 49 50 48 50 Total Elastic Cloud 196 206 218 217 235 Other subscription 193 192 207 205 214 Total subscription $
Slide 48: GAAP to Non-GAAP Reconciliations Operating (Loss) / Income, Operating Margin
GAAP to Non-GAAP Reconciliations Operating (Loss) / Income, Operating Margin $ in millions except percentages Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY27 TTM GAAP operating (loss) / income ($34) ($4) ($5) ($12) ($9) ($8) $1 ($16) ($24) ($130) ($55)
Slide 49: GAAP to Non-GAAP Reconciliations Adjusted Free Cash Flow
GAAP to Non-GAAP Reconciliations Adjusted Free Cash Flow* Trailing Twelve Months (TTM) $ in millions except percentages Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3 FY26 Q4 FY26 Q1 FY27 FY24 FY25 FY26 Q1 FY27 Net cash provided by operating activities $164 $204 $240 $266 $318 $306 $261 $327 $35