ESTC - Great Q

Elastic N.V. Reports Strong Third Quarter Fiscal 2020 Financial Results

Q3 Revenue of $113.2 million, Up 60% year-over-year (61% in constant currency)
SaaS Revenue of $25.1 million, Up 114% year-over-year (118% in constant currency)
Calculated Billings of $122.9 million, Up 54% year-over-year (56% in constant currency)

https://ir.elastic.co/news-events/press-releases/press-relea…

Billings went back up to 54%. Company continues to grow at 60% yoy.

24 Likes

ESTC had a great ER.
Forecast is also stellar at 50% for Q4 and 56% for full fiscal year. They likely beat both as usual and finish close to 60% y/y at close to a 500m runrate.

Key Customer Metrics:

Total subscription customer count was over 10,500, compared to over 9,700 in Q2.
Total customer count with Annual Contract Value “ACV” greater than $100,000 was over 570, compared to over 525 in Q2.
Subscription revenue represented 92% of total revenue.
Net Expansion Rate continued to be greater than 130%.

Elastic N.V. Reports Strong Third Quarter Fiscal 2020 Financial Results https://seekingalpha.com/pr/17792159?source=ansh $ESTC

Dreamer

20 Likes

Looks solid to me too. Here are the details:


Quarter_________	Apr18	Jul18	Oct18	Jan19	Apr19	Jul19	Oct19	Jan20
Fiscal Q_________					FiscQ4	FiscQ1	FiscQ2	FiscQ3
								
Calc Bill_________	73.3	59.2	88.5	79.8	115.4	89.4	125.3	122.9
YoY Ch%_________		76.2%	72.5%	68.0%	57.4%	51.0%	41.6%	54.0%
								
Revenue_________	49,572	56,644	63,575	70,835	80,599	89,710	101,106	113,181
QoQ Ch%_________	18.9%	14.3%	12.2%	11.4%	13.8%	11.3%	12.7%	11.9%
YoY Ch%_________	82.4%	79.0%	71.6%	69.9%	62.6%	58.4%	59.0%	59.8%
								
Gross Prof_______	35,972	41,087	44,988	50,411	57,157	63,459	72,345	79,776
Gross Margin_____	72.57%	72.54%	70.76%	71.17%	70.92%	70.74%	71.55%	70.49%
								
OpEx____________	55,207	59,502	72,058	74,197	89,242	105,761	124,306	122,044
YoY Ch%_________	76.3%	78.1%	104.7%	71.1%	61.6%	77.7%	72.5%	64.5%
								
Op Loss_________	-19,235	-18,415	-27,070	-23,786	-32,085	-41,371	-51,961	-42,268
								
StockBasedComp__	4,164	5,665	11,239	11,111	11,927	12,771	14,416	15,588
								
Customer Count___		5,500	6,300	7,200	8,100	8,800	9,700	10,500
YoY Ch%_________	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	60.0%	54.0%	45.8%
								
Cust w ACV > 100k		300	340	380	440	475	525	570
YoY Ch%_________	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	#DIV/0!	58.3%	54.4%	50.0%
								
Net Expansion Rate	130%+	130%+	130%+	130%+	130%+	130%+	130%+	130%+
								
FY Guidance_____			258.0	267.0	403.0	412.0	417.0	424.0
YoY Ch%_________					48.4%	51.7%	53.5%	56.1%
Q Guidance______			66.0	76.0	84.0	97.0	108.0	120.0
YoY Ch%_________			78.4%	82.3%	48.4%	52.5%	52.5%	48.9%
								
Shares Outstanding					72.30	74.60	77.80	80.70
Share price_______					80.01	88.50	68.00	69.00
Cash (in mil)______					298.00	315.20	305.00	294.00
TTM Revenue_____					271.65	304.72	342.25	384.60
TTM Billings______					342.90	373.10	409.90	453.00
EV/S____________					20.20	20.63	14.57	13.71
EV/Billings________					16.00	16.85	12.16	11.64

The loss is still something to keep an eye on, but the fact that it came down from last quarter (and so did OpEx) is a good thing.

Certainly seems like they’ll keep growing at over 50%. At a EV/S of about 14, this one should have a lot of upside, especially if the market ever decides to believe in this company.

Bear

29 Likes

It is a platform, but, as DIY, they cannot demonstrate value to the masses of companies that do not have strong skill sets needed to put the pieces together. As a play, they must leverage outside development or software solutions integrators or business partners who can DDOG it enough to make it valuable. Monetizing these partners is the key.