Elastic N.V. · ESTC · FY2026 Q2 · Calendar Q4 2025
Elastic pairs AI-led adoption with raised FY2026 guidance
The supplied evidence supports the view that Elastic's AI adoption, enterprise commitments and platform expansion can support continued growth, while billings conversion, customer mix and competition remain material tests.
Earnings scorecard
Reported versus consensusMarket reaction
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Transcript intelligence
What changed
Compared with the prior-quarter analysis, Elastic's latest analysis places greater emphasis on enterprise AI products and platform expansion, including AgentBuilder, Streams, managed inference and the GINA AI acquisition. Management again raised guidance, while billings conversion and short-term sales variability remain concerns.
Guidance delta
Management raised FY2026 revenue and subscription-revenue guidance and targeted an operating margin near 17.5%.
Key takeaways
- Management described 16% year-over-year revenue growth, supported by AI adoption and large enterprise commitments.
- AgentBuilder, Streams, managed inference and the GINA AI acquisition broaden Elastic's AI platform.
- Security, observability, search and Elastic Cloud remain central to the platform-consolidation story.
- The main watchpoints are billings conversion, customer mix, seasonality and competitive pressure.
Management priorities
- Roll out AgentBuilder and Streams.
- Integrate GINA AI technology into Elastic's platform.
- Accelerate sales-led subscription-revenue growth.
- Maintain disciplined capital allocation and the share-repurchase program.
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Try FN2 freeCompany context
Snapshot as of publicationElastic N.V., a company specializing in search technologies, furnishes advanced solutions engineered to operate across public, private, and multi-cloud environments. Its flagship offering is the Elastic Stack, a comprehensive software suite designed to acquire, store, search, analyze, and visually present data from a multitude of sources and formats. The Elastic Stack incorporates several core components: Elasticsearch: A powerful, distributed engine for real-time search and analytics, which also functions as a flexible data store for various types of information, including text, numerical values, geospatial coordinates, and both structured and unstructured datasets. Kibana: Serving as the intuitive user interface, management console, and configuration hub for the entire Elastic Stack.…
Historical context
All ESTC earningsTechnology peers this season
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| MU Micron Technology, Inc. | FY2026 Q4 · Calendar Q3 2026 | +5.4% | +0.0% | Micron: Strong AI Memory Demand, Higher Capex, and HBM4E Ahead |
| SNX TD Synnex Corp | FY2026 Q3 · Calendar Q3 2026 | +20.9% | -9.9% | TD SYNNEX: AI-led growth accelerates, but mix and cash flow matter |
| ADBE Adobe Inc. | FY2026 Q3 · Calendar Q3 2026 | +0.8% | +1.4% | Adobe raises FY26 outlook as AI strategy broadens |
| ORCL Oracle Corporation | FY2027 Q1 · Calendar Q3 2026 | +10.3% | -1.7% | Oracle raises FY27 outlook as AI demand accelerates cloud growth |
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-10-10T02:00:45.379517+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-10-10T02:00:45.376667+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-10-10. For educational purposes only; not investment advice.