Elastic Launches Serverless Vector Database After Strong Q1 Fiscal 2027

Product / TechEarnings
โดย Insider Monkey·US·Read original
Summary · why it matters

Elastic rolled out Elasticsearch Vector Database on September 11, a serverless offering that lets developers ship large-scale vector search and AI applications without assembling infrastructure themselves. The launch came less than three weeks after Elastic reported first-quarter fiscal 2027 results on August 27 for the period ended July 31, when total revenue reached $478 million, up 15% year over year, current remaining performance obligations grew 21% and remaining performance obligations grew 27%. Sales-led subscription revenue rose 18% year over year to $399 million, and the company added more customers with annual contract value above $100,000 than in any prior quarter, pushing that cohort past 1,800 from over 1,720 in the fourth quarter of fiscal 2026 and over 1,550 a year earlier, while net expansion rate held around 111% and adjusted free cash flow reached $143 million. Guidance for the second quarter of fiscal 2027, ending October 31, calls for revenue of $486 million to $487 million and a swing to positive GAAP operating margin, with full fiscal 2027 non-GAAP operating margin guided to roughly 19.4%, up from 16.2%. The company still posted a GAAP operating loss of $24 million, a -5% operating margin, and a GAAP net loss per share of $0.16, against $77 million in non-GAAP operating income and $0.70 in non-GAAP diluted earnings per share, while repurchasing about 0.8 million shares for roughly $40 million under its $500 million buyback program and acquiring Deductive AI.

Impact on stocks 1

Artificial Intelligence▲ · 1 stocks
Elastic NV
ESTC
▲ PositiveCapitalTechnologyrelevance

Q1 fiscal 2027 revenue rose 15% to $478M with strong RPO growth, positive GAAP operating margin guidance, and a $40M buyback.

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