https://ir.elastic.co/file/Index?KeyFile=399452665
Elastic Launches Elasticsearch Service on Microsoft Azure
MOUNTAIN VIEW, Calif. & AMSTERDAM–(BUSINESS WIRE)-- Elastic N.V. (NYSE: ESTC), the company behind Elasticsearch and the Elastic Stack, announced the launch of Elasticsearch Service on Azure will be welcome news for many of our managed service users who want more cloud provider options and value Azure’s powerful global reach. Organizations that have standardized on Azure will now be able to enjoy the convenience of a fully managed Elasticsearch service, from the creators of Elasticsearch, on their preferred cloud platform — something that was not previously possible…
Nice to see that ESTC continues its rapid pace of innovation. And also great to see that the Microsoft and Elastic engineering teams collaborated to make this happen.
Chris
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Sold my admittedly coerced small position in NTNX (influenced by Bert Pre earnings) and poured into ESTC today.
ESTC gave back all it gained after a quarter in which it not only met strong guidance but maintained >50% guidance and continues to sport compressed valuation compared to its peers with similar growth and margins.
ESTC has many directions it can go, but it’s business model, like TWLO is targeted at DevOps groups who can build out their own use cases that can then be sold/shared as examples for other organizations to implement. This is a very sticky, low friction sales tactic utilized in SaaS (TWLO, PD, AYX community) that is best measured by net expansion rate (130% plus for most of these) which is a phenomenal customer satisfaction read.
ESTC is up to a healthy 8% position in my portfolio now. Trailing AYX, TWLO, ZS, TTD, OKTA
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