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Elastic Reports First Quarter Fiscal 2027 Financial Results
cRPO growth of 21% as reported and 20% on a constant currency basis
Q1 net additions to our >$100K ACV customer cohort reach the highest level to date
SAN FRANCISCO, August 27, 2026–(BUSINESS WIRE)–Elastic (NYSE: ESTC),the Search AI Company, announced financial results for its first quarter of fiscal 2027 ended July 31, 2026.
First Quarter Fiscal 2027 Financial Highlights
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Total revenue was $478 million, an increase of 15% year-over-year, as reported and on a constant currency basis
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Total subscription revenue was $449 million, an increase of 15% year-over-year, as reported and on a constant currency basis
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Sales-led subscription revenue (calculated as subscription revenue excluding Monthly Elastic Cloud) was $399 million, an increase of 18% year-over-year, or 17% on a constant currency basis
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Current remaining performance obligations were $1.153 billion, an increase of 21% year-over-year, or 20% on a constant currency basis
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Remaining performance obligations were $1.854 billion, an increase of 27% year-over-year, as reported and on a constant currency basis
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GAAP operating loss was $24 million; GAAP operating margin was -5%
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Non-GAAP operating income was $77 million; non-GAAP operating margin was 16.2%
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GAAP net loss per share was $0.16; non-GAAP diluted earnings per share was $0.70
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Operating cash flow was $132 million with adjusted free cash flow of $143 million
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Cash, cash equivalents, and marketable securities were $1.461 billion as of July 31, 2026
“Elastic delivered a strong start to fiscal 2027, beating our guidance across all key metrics,” said Ash Kulkarni, chief executive officer, Elastic. “AI is reshaping the enterprise technology stack, and organizations are making deliberate choices about where to build and how to observe and secure their applications and data. Our record quarter-over-quarter net customer additions to our >$100K ACV cohort and continued strength in cRPO and RPO growth reflect the durability of that demand. We enter the year with growing momentum across Search & AI, Security, and Observability and confidence in the trajectory of our business.”
First Quarter Fiscal 2027 Key Metrics and Recent Business Highlights
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Total customer count with Annual Contract Value (ACV) greater than $100,000 was over 1,800 compared to over 1,720 in Q4 FY26, and over 1,550 in Q1 FY26
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Net Expansion Rate was approximately 111%
Product Innovations and Updates
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Delivered general availability of native Prometheus and PromQL support, out-of-the-box Kubernetes agentic investigations, and automated migration features in our unified platform for metrics and logs
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Introduced Columnar Mode in technical preview, combining the efficiency of columnar analytics with Elasticsearch’s best-in-class search across all data, with especially significant improvements to the cost and performance of metrics and log analytics
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Introduced general availability of VectorDB index mode and Auto Calibration for DiskBBQ, enabling instant vector search out of the box, no setup or index tuning required
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Delivered Jina AI embedding and reranker models for on-premises and air-gapped environments through Jina On-Prem
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Introduced an agentic Kubernetes investigation workflow and MCP-based observability skills that analyze logs, metrics, anomalies, and cluster events, surfacing root causes and next steps automatically
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Expanded Attack Discovery, broader endpoint protection, and enhanced native workflow automation with Alert Zero, an AI-driven alert triage and attack investigation for the agentic SOC
