Elastic Q2 Fiscal 21 Earnings Report

Investment Analysis Clubs Saul’s Investing Discussions
1

Second Quarter Fiscal 2021 Financial Highlights:

• Total revenue was $144.9 million, an increase of 43% year-over-year
• SaaS revenue was $37.4 million, an increase of 81% year-over-year

Key Customer Metrics:
• Total subscription customer count was over 12,900, compared to over 12,100 in Q1 FY21,
and over 9,700 in Q2 FY20
• Total customer count with Annual Contract Value (ACV) greater than $100,000 was over
650, compared to over 630 in Q1 FY21, and over 525 in Q2 FY20
• Subscription revenue represented 93% of total revenue
• Net Expansion Rate continued to be greater than 130%

https://s2.q4cdn.com/265747582/files/doc_financials/2021/q2/…

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Q1 Revenue was $128.9. That is a 12% increase sequentially. Not bad.

Q3 guidance is $145 - $147, basically flat from Q2 ! Let’s say the increase 10% sequentially. Q3 would be $144.9 * 1.1 = $159.4, which would represent about a 40% growth next quarter. Again, not lighting the world on fire, but not bad !

One thing I disliked about this quarter was negative operating cash flow and negative free cash flow. They had positive cash flow last quarter, and was hoping they would continue that journey. Not yet, it seems.

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