Elastic
ESTCQ4 2024(ESTC Q2 FY2025)Estimated3.5% AI
AI Revenue %
3.5%
AI Fair Value
$80.4M
AI Revenue (Q)
$21.2M
Total Revenue (Q)
$604.4M
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Elastic Q2 FY2025 (3 months ended Oct 31, 2024). 10-Q filing. Total revenue $365.4M (Subscription $340.8M, Services $24.6M; Elastic Cloud $168.8M at 46% of revenue). Elastic Cloud grew 25% YoY ($168.8M vs $135.0M). The filing continues to reference AI initiatives. Elastic was gaining traction as a vector database for RAG and GenAI applications, with vector search becoming a more prominent feature. However, no AI-specific revenue is disclosed. Most revenue remains traditional search/observability/security workloads. The incremental AI adoption is reflected in Elastic Cloud growth but is not separable. Conservative estimate: ~3.5% of revenue from Ring 1 AI features, reflecting growing but still small vector search/RAG/ESRE adoption. Math: ~$12.8M / $365.4M = 3.5%.
Analyzed by claude-opus-4-6
Quoted Figures
our initiatives and investments involving artificial intelligence (AI)
10-Q Forward-Looking Statements
Elastic Cloud $168,835 (46% of total revenue), Other subscription $171,972 (47%), Services $24,554 (7%), Total revenue $365,361
10-Q Note 3, Revenue Disaggregation
AI Products Identified (Ring 1)
ESRE (Elasticsearch Relevance Engine)Vector search (kNN)Semantic searchML inference endpoints
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 Assistant
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix