Elastic +6.6% on upside Q2, FY views

Elastic (NYSE:ESTC) gains 6.6% on Q1 beats with 58% Y/Y revenue growth and upside Q2 and FY outlooks.

Calculated billings were up 51% Y/Y to $89.4M.

Deferred revenue rose 64% to $169.8M.

The non-GAAP operating margin was -27%.

ESTC had -$1.7M operating cash flow and a negative FCF of $3.3M.

Total subscription customer count exceeded 8,800. Customers with ACV greater than $100K was over 475.

Q2 guidance sees revenue of $95-97M (consensus: $93.34M) with a loss per share of $0.32-0.30 (consensus: $0.34 loss), and an operating margin of -23.5-21.5%.

FY20 outlook has revenue of $406-412M (consensus: $400.21M), loss per share of $1.40-1.24 (consensus: $1.40 loss), and operating margin of -24.5-22.5%.

Earnings call starts at 5 PM with a webcast here.

Press release.


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