Elastic
ESTCQ3 2023(ESTC Q1 FY2024)Estimated0% AI
AI Revenue %
0%
AI Fair Value
$112.4M
AI Revenue (Q)
$0
Total Revenue (Q)
$325.0M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Elastic Q1 FY2024 (3 months ended Jul 31, 2023). 10-Q filing. Total revenue $293.8M (Subscription $270.2M, Services $23.5M; Elastic Cloud $121.2M). The product description remains 'Search, Observability, and Security' with no mention of AI or ML in the filing. Elastic announced ESRE (Elasticsearch Relevance Engine) in June 2023, incorporating vector search and transformer model integration, but this was extremely early in adoption. The 10-Q filing for this quarter contains no AI-related language in its business description, risk factors, or MD&A. Even if ESRE was available, adoption would have been negligible in the first full quarter. Ring 1 AI revenue = $0. Math: $0 / $293.8M = 0.0%.
Analyzed by claude-opus-4-6
Quoted Figures
The Company offers three software solutions built into the Elastic Stack: Search, Observability, and Security.
10-Q Segment Note (Notes to Financial Statements, Note 1)
Elastic Cloud $121,172 (41% of total revenue), Other subscription $149,075 (51%), Services $23,506 (8%), Total revenue $293,753
10-Q Note 3, Revenue Disaggregation
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
ESRE (Elasticsearch Relevance Engine) launched Jun 2023 - too early for meaningful revenue
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix