Elastic
ESTCQ3 2025(ESTC Q1 FY2026)Estimated6% AI
AI Revenue %
6%
AI Fair Value
$128.1M
AI Revenue (Q)
$20.8M
Total Revenue (Q)
$347.4M
Source: SEC EDGAR 10-Q Filing
Browse 10-Q filings on SEC.govAnalysis
Elastic Q1 FY2026 (3 months ended Jul 31, 2025). 10-Q filing. Total revenue $415.3M (Subscription $388.6M, Services $26.7M; Elastic Cloud $195.8M at 47% of total, with new breakdown: Annual Cloud $145.9M, Monthly Cloud $49.9M). Elastic Cloud grew 24% YoY ($195.8M vs $157.3M). The filing continues to use 'Elastic's Search AI Platform' branding and lists three solutions: 'Elasticsearch, Elastic Observability, and Elastic Security.' Forward-looking statements reference both 'our product offerings, initiatives and investments involving artificial intelligence (AI)' -- notably adding 'product offerings' for the first time. This signals AI is becoming a more concrete product category rather than just an initiative. Vector search/RAG adoption is accelerating across the customer base. New disaggregation of Elastic Cloud into Annual and Monthly components shows Monthly Cloud at $49.9M (12% of revenue) which likely includes more experimental/AI workloads. Conservative estimate: ~6% from Ring 1 AI features. Math: ~$24.9M / $415.3M = 6.0%.
Analyzed by claude-opus-4-6
Quoted Figures
The Company created Elastic's Search AI Platform, a powerful set of software products that ingest and store data from any source and in any format, and perform search, analysis, and visualization on that data.
10-Q Segment Note (Notes to Financial Statements, Note 1)
our product offerings, initiatives and investments involving artificial intelligence (AI)
10-Q Forward-Looking Statements
Annual Elastic Cloud $145,912 (35%), Monthly Elastic Cloud $49,862 (12%), Total Elastic Cloud $195,774 (47%), Other subscription $192,809 (47%), Services $26,705 (6%), Total revenue $415,288
10-Q Note 3, Revenue Disaggregation
AI Products Identified (Ring 1)
Search AI PlatformESRE (Elasticsearch Relevance Engine)Vector search (kNN)Semantic searchML inference endpointsPlayground (RAG)
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.
AI-enhanced security analyticsAI-assisted observabilityElastic AI AssistantAttack Discovery
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix