Elastic reported strong Q1 FY2025 results with total revenue reaching $347.4 million, up 18% year-over-year. Subscription revenue grew 20% to $323.8 million, driven by Elastic Cloud which surged 30% and now represents 45% of total revenue. The company's customer base expanded to approximately 21,200, with over 1,370 customers contributing more than $100,000 in annual contract value.Despite the growth, Elastic posted a net loss of $49.2 million for the quarter. Gross profit increased 18% to $255.7 million, maintaining a 74% gross margin. Operating expenses rose 15% to $289.5 million, with significant investments in research and development as well as sales and marketing to drive future growth.Looking ahead, Elastic remains focused on expanding its AI-powered search capabilities and cloud offerings. The company believes its strong cash position of $1.147 billion will support continued investments in product development and go-to-market initiatives. However, Elastic noted ongoing macroeconomic uncertainties may impact customer spending patterns and sales cycles in the near term.

Elastic reported strong Q1 FY2025 results with total revenue reaching $347.4 million, up 18% year-over-year. Subscription revenue grew 20% to $323.8 million, driven by Elastic Cloud which surged 30% and now represents 45% of total revenue. The company's customer base expanded to approximately 21,200, with over 1,370 customers contributing more than $100,000 in annual contract value.Despite the growth, Elastic posted a net loss of $49.2 million for the quarter. Gross profit increased 18% to $255.7 million, maintaining a 74% gross margin. Operating expenses rose 15% to $289.5 million, with significant investments in research and development as well as sales and marketing to drive future growth.Looking ahead, Elastic remains focused on expanding its AI-powered search capabilities and cloud offerings. The company believes its strong cash position of $1.147 billion will support continued investments in product development and go-to-market initiatives. However, Elastic noted ongoing macroeconomic uncertainties may impact customer spending patterns and sales cycles in the near term.