Elastic (ESTC) Operating Expenses (2017 - 2026)
Elastic's Operating Expenses came in at $379.76 million for fiscal Q1 2027 (quarter ended Jul 31, 2026), up 15.8% from $327.98 million a year earlier and up 6.7% from the prior quarter.
Powered by 
Analysis
Elastic (ESTC) Operating Expenses (2017 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Elastic reported Operating Expenses of $1.41 billion, up 17.7% year-over-year; for FY2026 (ended Apr 30, 2026), it was $1.36 billion, up 17.1% from FY2025.
- Operating Expenses has increased in each of the last nine fiscal years, with a five-year compound annual growth rate of 18.6% (FY2021 to FY2026).
- Going back by fiscal year, Operating Expenses was $1.16 billion in FY2025 (+8.5%), $1.07 billion in FY2024 (+7.6%), $991.54 million in FY2023 (+23.3%) and $803.86 million in FY2022 (+39.3%).
- The fiscal Q1 2027 figure represents the highest quarterly Operating Expenses in data going back to fiscal Q2 2018.
- Year-over-year, Operating Expenses has increased for 32 consecutive quarters, with growth averaging 13.1% over the last eight quarters.
- Over the past five years, the year-over-year growth in Operating Expenses ranged from 0.4% (fiscal Q3 2024) to 40.3% (fiscal Q2 2022).
- Business Quant data shows ESTC's Operating Expenses at $356.03 million (Q4 2026), $342.83 million (Q3 2026) and $329.69 million (Q2 2026) in the three fiscal quarters before Q1 2027.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 319.55 Bn | 304.63 Bn | 2.30 Bn | 2.13 Bn |
| 2 | CrowdStrike Holdings | 265.46 Bn | 245.90 Bn | 1.10 Bn | 1.13 Bn |
| 3 | Fortinet | 129.36 Bn | 115.29 Bn | 1.64 Bn | 953.90 Mn |
| 4 | Snowflake | 115.65 Bn | 102.97 Bn | 1.04 Bn | 1.30 Bn |
| 5 | Datadog | 96.45 Bn | 78.09 Bn | 881.34 Mn | 875.89 Mn |
| 6 | Axon Enterprise | 34.50 Bn | 29.03 Bn | 546.45 Mn | 499.67 Mn |
| 7 | Okta | 33.79 Bn | 23.89 Bn | 641.00 Mn | 534.00 Mn |
| 8 | Zscaler | 32.51 Bn | 18.63 Bn | - | - |
| 9 | Baidu | 29.59 Bn | -44.04 Bn | 1.47 Mn | 4.17 Bn |
| 10 | Elastic | 9.24 Bn | 3.77 Bn | 356.19 Mn | 379.76 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 379.76 Mn |
| Apr 30, 2026 | 356.03 Mn |
| Jan 31, 2026 | 342.83 Mn |
| Oct 31, 2025 | 329.69 Mn |
| Jul 31, 2025 | 327.98 Mn |
| Apr 30, 2025 | 302.67 Mn |
| Jan 31, 2025 | 289.57 Mn |
| Oct 31, 2024 | 276.61 Mn |
| Jul 31, 2024 | 289.50 Mn |
| Apr 30, 2024 | 292.84 Mn |
| Jan 31, 2024 | 269.72 Mn |
| Oct 31, 2023 | 252.06 Mn |
| Jul 31, 2023 | 252.52 Mn |
| Apr 30, 2023 | 246.42 Mn |
| Jan 31, 2023 | 268.71 Mn |
| Oct 31, 2022 | 238.67 Mn |
| Jul 31, 2022 | 237.74 Mn |
| Apr 30, 2022 | 231.61 Mn |
| Jan 31, 2022 | 208.51 Mn |
| Oct 31, 2021 | 189.27 Mn |
API Access
Elastic Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=ESTC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "ESTC", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=ESTC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();