What led to Elastic NV (NYSE: ESTC) stock fall

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Elastic NV (NYSE: ESTC) stock fall over 6.7% in the pre-market session of 4th June, 2020 (Source: Google finance) post fourth quarter of FY 20. The reason for the fall is that for the first quarter of 2021, Elastic expects the earnings to range from a loss of 19 cents per share to a loss of 17 cents per share. The company expects revenue to be in the range of $119 million to $122 million for the fiscal first quarter. Non-GAAP operating margin is projected to be between -12% and -11% for the first quarter of 2021. Elastic expects full-year 2021 earnings to range from a loss of 98 cents per share to a loss of 85 cents per share, with revenue to be in the range of $530 million to $540 million. For fiscal 2021, the company expects Non-GAAP operating margin to be between -15% and -13%.

 

Calculated billings grew 52% to $175.1 million year-over-year, or 55% on a constant currency basis for the period. the fourth quarter of FY 20, the company has generated Operating cash flow of -$5.9 million and free cash flow of -$6.8 million. Cash and cash equivalents stood at $297.1 million at the end of April, 2020.

Moreover, during the fourth quarter, the total subscription customer count has increased to over 11,300, compared to over 10,500 in Q3 FY20, and over 8,100 in Q4 FY19. Total customer count with Annual Contract Value (ACV) greater than $100,000 has increased to over 610, compared to over 570 in Q3 FY20, and over 440 in Q4 FY19.

ESTC in the fourth quarter of FY 20 has reported the adjusted loss per share of 12 cents, while adjusted revenue growth of 53.38 percent to $123.6 million in the fourth quarter of FY 20. SaaS revenue rose by whopping 110% to $29 million year-over-year, or 120% on a constant currency basis. Deferred revenue increased by 52% to $259.7 million year-over-year. The company has delivered Non-GAAP operating loss of $12.7 million with non-GAAP operating margin was -10% for the fourth quarter of FY 20.

Meanwhile, during the fourth quarter, the company had released version 7.7 of the Elastic Stack, which brought strong enhancements and integrations across the Elastic solutions portfolio. The company also released Elastic Cloud Enterprise (ECE) 2.5 & released Elastic Cloud on Kubernetes (ECK) 1.1.0 for the period.

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