ESTC Elastic (ESTC) Q4 FY26 earnings call
Elastic's thesis is shifting from in-quarter consumption to committed backlog: accelerating CRPO and a four-year-high RPO jump signal customers standardizing on the platform for multiyear AI transformations, which management frames as coverage that converts to accelerating revenue through FY27. The near-term cost is a cloud-mix-driven revenue optics headwind and a guided Q1 trough, but AI adoption breadth and stepped-up margin ambition anchor a durable, back-half-weighted growth build.
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ESTC operating KPIs by quarter
| KPI | Jan 2026 Q3 FY26 | This call Apr 2026 Q4 FY26 | Jul 2026 Q1 FY27 | Change vs prior quarter |
|---|---|---|---|---|
| Customers above an annual spend threshold ACV > $100,000 | 1,660+Sales led subscription revenue accelerated to 21% alongside our growing cohort of $100,000 ACV customers, which now exceeds 1,660.Source: earnings call transcript | 1,720+We ended the year with over 1,720 customers spending more than $100,000 in ACV.Source: earnings call transcript | 1,800+We ended Q1 with more than 1,800 customers spending $100,000 or more in ACV.Source: earnings call transcript | — |
| Customers above an annual spend threshold ACV >= $100,000 using AI | 470+We now have over 470 customers with an ACV of 100,000 or greater using us for AI.Source: earnings call transcript | 600+We now have over 600 customers with an ACV of over 100,000 or greater using our AI capabilities.Source: earnings call transcript | 670+That is more than 670 high-value customers now using Elastic for AI use cases with 70 net additions quarter-over-quarter in Q1.Source: earnings call transcript | — |
| Remaining performance obligation (RPO) Current | ~$1.06BCRPO accelerated to approximately $1.06 billion growing 19% as reported and 15% on a constant currency basis.Source: earnings call transcript | $1.2BIn Q4, we grew CRPO to $1.2 billion which was 20% growth, both as reported and on a constant currency basis as compared to 15% on a constant currency basis in Q3 FY '26.Source: earnings call transcript | $1.2BOur CRPO in the first quarter was $1.2 billion, representing 21% growth as reported and 20% on a constant currency basis.Source: earnings call transcript | 0% |
| Remaining performance obligation (RPO) | — | $1.98BIn Q4, our RPO accelerated to $1.98 billion, growing 28% as reported and 27.4% in constant currency.Source: earnings call transcript | $1.9BOur RPO for the first quarter was $1.9 billion, representing 27% growth, both as reported and on a constant currency basis.Source: earnings call transcript | -4% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.