https://m.nasdaq.com/article/a-flexible-valuation-elastic-si…
Up from 26 to 29
Oops didnt see someone already posted this
No worries, Ace.
I did not see any posts regarding the price increase, which happened yesterday. I had to resubmit my offer in Etrade. Good thing I saw it, else the conditional offer would have been cancelled!
Best,
Matt
Is it too late for a non-Etrade buyer to get in before it hits the (Wall) street?
Only if your broker/company still has allocation left (very doubtful)…
Does anyone know what time ESTC can be purchased tomorrow?
Thanks in advance.
Scotty G
Some more ESTC tidbits after wading through their documents:
What they do:
Their products revolve around software that ingests and stores data from any source in any format for search, analysis and visualization. They have public, private or hybrid platforms. I know there have been comparisons to MDB on this board, but I’m not sure if they would be direct competitors. Below are some of the uses for their products:
Whom they do it for:
Business highlights:
Some Financial Highlights:
GAAP Revs %YoY
Q1 Q2 Q3 Q4 YR Q1 Q2 Q3 Q4 YR
2017 $16.57 $21.31 $23.13 $27.17 $88.18 2017 0
2018 $31.64 $37.04 $41.68 $49.57 $159.94 2018 90.9% 73.8% 80.2% 82.4% 81.4%
2019 $56.64 2019 79.0%
GAAP Subscription Revs %YoY
Q1 Q2 Q3 Q4 YR Q1 Q2 Q3 Q4 YR
2017 $14.70 $19.16 $21.06 $24.82 $79.75 2017 0
2018 $29.39 $34.78 $39.03 $46.18 $149.38 2018 99.9% 81.5% 85.4% 86.0% 87.3%
2019 $51.61 2019 75.6%
GAAP Gross Margin Subscription Revs/Total Revs
Q1 Q2 Q3 Q4 YR Q1 Q2 Q3 Q4 YR
2017 76.2% 79.4% 77.6% 76.7% 77.5% 2017 88.7% 89.9% 91.0% 91.4% 90.4%
2018 76.6% 75.8% 74.2% 72.6% 74.5% 2018 92.9% 93.9% 93.6% 93.1% 93.4%
2019 72.5% 2019 91.1%
They also listed some other highlights either generally or in regards to Q119:
Net revenue expansion of at least 130% for 7 consecutive Q’s. They reported 142% for Q119.
I could only find partial info for Calculated Billings, but the growth was impressive. Q119 was $59.22M vs Q118 at $33.65M (+76.0% YoY). FY18 was $205.72M vs FY17 at $114.57M (+79.6% YoY).
These are the long range rates they are targeting:
Gross Margins 72-76%
R&D Exp 13-17%
S&M Exp 29-33%
G&A Exp 7-9%
Op Margin ~20%
Non-GAAP Op Loss was -$27.52M in FY17, -$31.96M in FY18 and -$11.66 in Q119.
*Free Cash Flow was -$16.95M in FY17, -$23.75M in FY18. They posted a postive $4.79 in Q119.
Their IPO documents state they would end up with ~$225M cash at an IPO of $27.50. They also stated that each $1 +/- that IPO price would be roughly $6.5M shareholders’ equity, so an IPO price of $35 would add roughly $48.75M in equity.
One comment I found particularly interesting was that they feel their business is seasonal with heaviness in Q2/Q4 and weakness in Q1/Q3. They specifically state this seasonality is somewhat masked in their present numbers by their overall revenue growth. Since they are going public with Q1 behind them, their first public quarter should be seasonally strong. Their second public quarter (Q3 on the fiscal calendar) would be seasonally weak though. Probably something they need to at least manage and message properly as they go along.