Elastic N.V. (NYSE: ESTC) reported Q2 EPS of $0.03, $0.23 better than the analyst estimate of ($0.20). Revenue for the quarter came in at $144.9 million versus the consensus estimate of $130.5 million.

Second Quarter Fiscal 2021 Financial Highlights

• Total revenue was $144.9 million, an increase of 43% year-over-year, or 40% on a constant currency basis
• SaaS revenue was $37.4 million, an increase of 81% year-over-year, or 79% on a constant currency basis
• Calculated billings was $177.7 million, an increase of 42% year-over-year, or 39% on a constant currency basis
• Deferred revenue was $309.2 million, an increase of 54% year-over-year
• GAAP operating loss was $28.4 million; GAAP operating margin was -20%
• Non-GAAP operating loss was $1.7 million; non-GAAP operating margin was -1%
• GAAP net loss per share was $0.34; non-GAAP net loss per share was $0.03
• Operating cash flow was -$17.3 million with free cash flow of -$18.6 million
• Cash and cash equivalents were $349.0 million as of October 31, 2020

“Elastic delivered excellent results in the second quarter,” said Shay Banon, founder and chief executive officer of Elastic. “We are innovating across our three solutions built on a single stack, expanding our relationships with key partners, and empowering our customers to drive outcomes through data, insights, and action.”

GUIDANCE:

Elastic N.V. sees Q3 2021 EPS of ($0.16)-($0.14), versus the consensus of ($0.28). Elastic N.V. sees Q3 2021 revenue of $145-147 million, versus the consensus of $139.76 million.

Elastic N.V. sees FY2021 EPS of ($0.40)-($0.32), versus the consensus of ($0.71). Elastic N.V. sees FY2021 revenue of $568-572 million, versus the consensus of $548.86 million.

The Company is providing the following guidance: For the third quarter of fiscal 2021 (ending January 31, 2021):

• Total revenue is expected to be between $145 million and $147 million
• Non-GAAP operating margin is expected to be between -8.5% and -7.5%
• Non-GAAP net loss per share is expected to be between $0.16 and $0.14, assuming between 88.5 million and 89.5 million weighted average ordinary shares outstanding

For fiscal 2021 (ending April 30, 2021):

• Total revenue is expected to be between $568 million and $572 million
• Non-GAAP operating margin is expected to be between -7.0% and -6.0%
• Non-GAAP net loss per share is expected to be between $0.40 and $0.32, assuming between 87 million and 89 million weighted average ordinary shares outstanding

We continue to believe it is prudent to expect some near-term business headwinds as the economic impact from the ongoing COVID-19 pandemic further unfolds. As such, our guidance includes the expected impact of the COVID-19 pandemic on our business and results of operations based on information available to us today.

For earnings history and earnings-related data on Elastic N.V. (ESTC) click here.