Elastic N.V.
ESTC · Services-Prepackaged Software · 104.0M shares · +7%/yr ↑ shares · EDGAR filings ↗
Reference price $60.61 · est. market cap ~$6.3B — last insider sale, 2026-06-09 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B74Search/observability SaaS (Elasticsearch) — profitable with strong free cash flow and growth.
Strengths
- Profitable with strong FCF — net margin 21% (86th), ROE 29% (82nd), FCF $322M (66th)
- Growing — revenue +17%
Risks
- Net margin flattered by tax benefit — per metrics
- Open-source/hyperscaler competition — per 10-K
- Growth-durability dependence — per 10-K
Notable findings
- No interest coverageInterest coverage -1.33 (cannot cover interest)
- Exec changeRecent 8-K item 5.02 8-K ↗
- Customer concentration~94% of revenue from one customer/distributor — Subscriptions accounted for 94% and 93% of total revenue for the years ended April 30, 2026 and 2025, respectively
- Strong balance sheetStrong balance sheet — $1.4B cash & investments
- China exposure• Our business is subject to a variety of government and industry regulations, as well as other obligations including compliance with export control, trade sanctions, anti-bribery, anti-corruption, an
- Insider sellingInsider selling — 15 open-market sale(s) by 7 insider(s) (cluster of 7 insiders, ~$9M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
76.1%
Operating margin
-1.9%
Net margin
21.1%
Return on equity
28.8%
Return on assets
11.7%
ROIC
-1.4%
Revenue growth (QoQ)
0.2%
Debt / equity
0.4×
Interest coverage
-1.3×
Current ratio
1.7×
Free cash flow
$322M
Tangible book value
$907M
Cash & investments
$1.4B
Stock comp / revenue
17.2%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-09 | Kulkarni Ashutosh | Sell | 40K | $60.61 |
| 2026-06-09 | Dodds Mark Eugene | Sell | 18K | $60.61 |
| 2026-06-09 | Herzog Carolyn | Sell | 9.5K | $60.61 |
| 2026-06-09 | Bone Jane E | Sell | 1.1K | $60.61 |
| 2026-06-09 | Exner Ken | Sell | 18K | $60.61 |
| 2026-06-09 | Welihinda Navam | Sell | 13K | $60.61 |
| 2026-06-09 | Banon Shay | Sell | 9.3K | $60.61 |
| 2026-06-08 | Herzog Carolyn | Grant | 20K | — |
| 2026-06-08 | Herzog Carolyn | Grant | 32K | — |
| 2026-06-08 | Dodds Mark Eugene | Grant | 49K | — |
| 2026-06-08 | Dodds Mark Eugene | Grant | 35K | — |
| 2026-06-08 | Dodds Mark Eugene | Grant | 80K | — |
| 2026-06-08 | Bone Jane E | Grant | 12K | — |
| 2026-06-08 | Banon Shay | Grant | 31K | — |
| 2026-06-08 | Banon Shay | Grant | 40K | — |
| 2026-06-08 | Welihinda Navam | Grant | 45K | — |
| 2026-06-08 | Kulkarni Ashutosh | Grant | 111K | — |
| 2026-06-08 | Kulkarni Ashutosh | Grant | 149K | — |
| 2026-06-08 | Welihinda Navam | Grant | 56K | — |
| 2026-06-08 | Exner Ken | Grant | 49K | — |
| 2026-06-08 | Exner Ken | Grant | 35K | — |
| 2026-06-08 | Exner Ken | Grant | 72K | — |
| 2026-03-09 | Kulkarni Ashutosh | Sell | 18K | $52.28 |
| 2026-03-09 | Welihinda Navam | Sell | 3.2K | $52.28 |
| 2026-03-09 | Herzog Carolyn | Sell | 4.0K | $52.28 |
| 2026-03-09 | Exner Ken | Sell | 4.3K | $52.28 |
| 2026-03-09 | Dodds Mark Eugene | Sell | 3.7K | $52.28 |
| 2026-03-09 | Bone Jane E | Sell | 887 | $52.28 |
| 2026-03-09 | Banon Shay | Sell | 4.3K | $52.28 |
| 2026-01-09 | Bone Jane E | Sell | 1.2K | $80.31 |
| 2025-12-15 | Kulkarni Ashutosh | Sell | 1.3K | $75.29 |
| 2025-12-15 | Kulkarni Ashutosh | Sell | 3.2K | $74.07 |
| 2025-12-15 | Kulkarni Ashutosh | Sell | 500 | $76.17 |
| 2025-12-10 | Welihinda Navam | Sell | 1.0K | $74.51 |
| 2025-12-09 | Welihinda Navam | Sell | 4.3K | $75.05 |
| 2025-12-09 | Bone Jane E | Sell | 2.4K | $75.05 |
| 2025-12-09 | Kulkarni Ashutosh | Sell | 20K | $75.05 |
| 2025-12-09 | Dodds Mark Eugene | Sell | 5.2K | $75.05 |
| 2025-12-09 | Herzog Carolyn | Sell | 5.4K | $75.05 |
| 2025-12-09 | Exner Ken | Sell | 6.5K | $75.05 |
| 2025-12-09 | Banon Shay | Sell | 4.6K | $75.05 |
| 2025-12-08 | Bone Jane E | Grant | 9.1K | — |
| 2025-12-05 | Dodds Mark Eugene | Sell | 5.8K | $74.60 |
| 2025-12-01 | Auvil Paul R. III | Buy | 4.0K | $71.04 |
| 2025-12-01 | Auvil Paul R. III | Buy | 5.0K | $71.01 |
| 2025-12-01 | Auvil Paul R. III | Buy | 1.0K | $71.02 |
| 2025-10-13 | Bone Jane E | Sell | 1.2K | $87.22 |
| 2025-10-06 | Welihinda Navam | Sell | 1.3K | $84.58 |
| 2025-09-30 | Gleeson Alison | Grant | 2.7K | — |
| 2025-09-30 | Leibowitz Shelley B | Grant | 2.7K | — |
| 2025-09-30 | Puttagunta Chetan | Grant | 2.7K | — |
| 2025-09-30 | Auvil Paul R. III | Grant | 2.7K | — |
| 2025-09-30 | Marooney Caryn | Grant | 2.7K | — |
| 2025-09-15 | Kulkarni Ashutosh | Sell | 4.5K | $88.05 |
| 2025-09-15 | Kulkarni Ashutosh | Sell | 550 | $88.72 |
| 2025-09-09 | Kulkarni Ashutosh | Sell | 20K | $90.12 |
| 2025-09-09 | Bone Jane E | Sell | 629 | $90.12 |
| 2025-09-09 | Dodds Mark Eugene | Sell | 5.0K | $90.12 |
| 2025-09-09 | Welihinda Navam | Sell | 3.5K | $90.12 |
| 2025-09-09 | Exner Ken | Sell | 6.3K | $90.12 |
| 2025-09-09 | Herzog Carolyn | Sell | 5.1K | $90.12 |
| 2025-09-09 | Banon Shay | Sell | 4.3K | $90.12 |
| 2025-09-09 | Banon Shay | Sell | 100K | $90.35 |
| 2025-09-08 | Banon Shay | Sell | 36K | $89.57 |
| 2025-09-08 | Banon Shay | Sell | 34K | $88.67 |
| 2025-09-08 | Banon Shay | Sell | 24K | $90.63 |
| 2025-09-08 | Banon Shay | Sell | 6.8K | $91.27 |
| 2025-09-05 | Banon Shay | Sell | 7.7K | $86.78 |
| 2025-09-05 | Banon Shay | Sell | 92K | $86.37 |
| 2025-09-04 | Banon Shay | Sell | 16K | $84.72 |
| 2025-09-04 | Banon Shay | Sell | 84K | $84.10 |
| 2025-06-24 | Dodds Mark Eugene | Sell | 2.5K | $83.50 |
| 2025-06-16 | Kulkarni Ashutosh | Sell | 5.0K | $80.01 |
| 2025-06-09 | Herzog Carolyn | Sell | 5.7K | $86.91 |
| 2025-06-09 | Kulkarni Ashutosh | Sell | 23K | $86.91 |
| 2025-06-09 | Banon Shay | Sell | 5.1K | $86.91 |
| 2025-06-09 | Kulkarni Ashutosh | Sell | 23K | $86.91 |
| 2025-06-09 | Banon Shay | Sell | 5.1K | $86.91 |
| 2025-06-09 | Exner Ken | Sell | 6.9K | $86.91 |
| 2025-06-09 | Welihinda Navam | Sell | 2.3K | $86.91 |
| 2025-06-09 | Dodds Mark Eugene | Sell | 5.5K | $86.91 |
| 2025-06-09 | Dodds Mark Eugene | Sell | 5.5K | $86.91 |
| 2025-06-09 | Herzog Carolyn | Sell | 5.7K | $86.91 |
| 2025-06-09 | Exner Ken | Sell | 6.9K | $86.91 |
| 2025-06-08 | Kulkarni Ashutosh | Grant | 93K | — |
| 2025-06-08 | Banon Shay | Grant | 3.9K | — |
| 2025-06-08 | Banon Shay | Grant | 26K | — |
| 2025-06-08 | Exner Ken | Grant | 4.7K | — |
| 2025-06-08 | Exner Ken | Grant | 69K | — |
| 2025-06-08 | Exner Ken | Grant | 14K | — |
| 2025-06-08 | Exner Ken | Grant | 69K | — |
| 2025-06-08 | Banon Shay | Grant | 12K | — |
| 2025-06-08 | Banon Shay | Grant | 26K | — |
| 2025-06-08 | Dodds Mark Eugene | Grant | 14K | — |
| 2025-06-08 | Dodds Mark Eugene | Grant | 69K | — |
| 2025-06-08 | Herzog Carolyn | Grant | 8.8K | — |
| 2025-06-08 | Herzog Carolyn | Grant | 17K | — |
| 2025-06-08 | Kulkarni Ashutosh | Grant | 41K | — |
| 2025-06-08 | Kulkarni Ashutosh | Grant | 93K | — |
| 2025-06-08 | Welihinda Navam | Grant | 38K | — |
| 2025-06-08 | Dodds Mark Eugene | Grant | 4.7K | — |
| 2025-06-08 | Dodds Mark Eugene | Grant | 69K | — |
| 2025-06-08 | Herzog Carolyn | Grant | 2.9K | — |
| 2025-06-08 | Herzog Carolyn | Grant | 17K | — |
| 2025-06-08 | Kulkarni Ashutosh | Grant | 14K | — |
| 2025-03-25 | Kulkarni Ashutosh | Sell | 471 | $103.27 |
| 2025-03-25 | Kulkarni Ashutosh | Sell | 4.5K | $102.57 |
| 2025-03-11 | Herzog Carolyn | Sell | 4.5K | $97.88 |
| 2025-03-10 | Herzog Carolyn | Sell | 3.3K | $90.78 |
| 2025-03-10 | Exner Ken | Sell | 3.6K | $90.78 |
| 2025-03-10 | Banon Shay | Sell | 2.7K | $90.78 |
| 2025-03-10 | Dodds Mark Eugene | Sell | 2.8K | $90.77 |
| 2025-03-10 | Kulkarni Ashutosh | Sell | 19K | $90.77 |
| 2025-03-08 | Welihinda Navam | Grant | 99K | — |
| 2025-03-04 | Banon Shay | Sell | 3.6K | $109.44 |
| 2025-03-04 | Banon Shay | Sell | 33K | $104.51 |
| 2025-03-04 | Banon Shay | Sell | 18K | $105.28 |
| 2025-03-04 | Banon Shay | Sell | 16K | $106.47 |
| 2025-03-04 | Banon Shay | Sell | 56K | $107.81 |
| 2025-03-04 | Banon Shay | Sell | 15K | $108.45 |
| 2025-03-03 | Banon Shay | Sell | 6.4K | $111.52 |
| 2025-03-03 | Banon Shay | Sell | 12K | $113.62 |
| 2025-03-03 | Banon Shay | Sell | 1.8K | $114.23 |
| 2025-03-03 | Banon Shay | Sell | 14K | $110.29 |
| 2025-03-02 | Banon Shay | Sell | 26K | $112.53 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-24 | 2026-06-18 | 0001707753-26-000024 ↗ |
| 10-K | 2026-06-08 | 2026-04-30 | 0001707753-26-000018 ↗ |
| 8-K | 2026-05-28 | 2026-05-28 | 0001707753-26-000008 ↗ |
| 10-Q | 2026-02-27 | 2026-01-31 | 0001707753-26-000006 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001707753-26-000003 ↗ |
| 10-Q | 2025-11-24 | 2025-10-31 | 0001707753-25-000056 ↗ |
| 8-K | 2025-11-20 | 2025-11-20 | 0001707753-25-000053 ↗ |
| 8-K | 2025-10-15 | 2025-10-13 | 0001707753-25-000050 ↗ |
| 8-K | 2025-10-09 | 2025-10-09 | 0001707753-25-000046 ↗ |
| 8-K | 2025-09-30 | 2025-09-30 | 0001707753-25-000043 ↗ |
| 10-Q | 2025-08-29 | 2025-07-31 | 0001707753-25-000040 ↗ |
| 8-K | 2025-08-28 | 2025-08-28 | 0001707753-25-000034 ↗ |