Elastic N.V. (NYSE: ESTC)

Elastic N. V. enables its customers to transform data into answers actions and outcomes with Search AI. The company provides a platform that combines search technology with artificial intelligence to help organizations find insights from large volumes of data. Its core offering is the Elasticsearch engine which serves as a scalable document store and search engine. Built on this platform are three solutions Elasticsearch Elastic Observability and Elastic Security that address search observability and security use cases. The platform is available as a cloud service or as self managed software and can be deployed in public private hybrid or multi cloud environments.

Elastic N. V. generates revenue primarily through subscription based offerings. The company sells access to its platform via Elastic Cloud Hosted and Elastic Cloud Serverless which are paid services delivered on major cloud providers such as AWS GCP and Azure. It also offers Elastic Self Managed software which can be used free of charge or purchased with paid features. Subscription pricing is based on resource consumption and provides access to all three solutions. Subscriptions accounted for approximately ninety three percent of total revenue in the fiscal years ended April 30 2025 and 2024. The remaining revenue comes from professional services and other minor sources.

Elastic N. V. competes in a highly fragmented market that includes search observability and security vendors. Its main rivals for search capabilities include Apache Solr Lucidworks Fusion MongoDB Atlas Algolia Coveo Google Pinecone and Microsoft Azure Cognitive Search. For observability the company faces competition from AppDynamics Datadog Dynatrace New Relic and Splunk. In the security space its competitors include Azure Sentinel CrowdStrike Google SecOps Palo Alto Networks and Splunk. Elastic differentiates itself through the speed scale and relevance of its platform its extensible architecture and its open source development model. The company also benefits from a large active developer community and a flexible deployment model that supports public private hybrid and multi cloud environments.

Elastic N. V. serves a diverse customer base that includes enterprises educational institutions and government entities across many industries. As of April 30 2025 the company reported approximately twenty one thousand five hundred customers. The customer base is broad with no single customer accounting for ten percent or more of total revenue except for a channel partner that represented about twelve percent of revenue in the fiscal year ended April 30 2025. The company’s products are used for use cases such as website search enterprise observability log analytics application performance monitoring and threat detection.