Elastic N.V. reported first quarter fiscal 2027 financial results for the period ended July 31, 2026. Total revenue increased 15% year-over-year to $478 million, while subscription revenue rose 15% to $449 million. GAAP operating loss was $24 million compared to a non-GAAP operating income of $77 million. The company reported non-GAAP diluted earnings per share of $0.70 and generated $132 million in operating cash flow with adjusted free cash flow of $143 million. Elastic provided second quarter fiscal 2027 revenue guidance between $486 million and $487 million, representing approximately 15% year-over-year growth at the midpoint. The company also announced an acquisition of Deductive AI and repurchased approximately $40 million in shares during the quarter. Elastic N.V. operates in the enterprise software industry, providing search, observability, and security solutions powered by artificial intelligence.

Elastic N.V. announced a workforce reduction plan of approximately 7% to align investments with AI automation and strategic priorities. The company expects to incur non-recurring cash charges of $22 million to $25 million, primarily for severance and termination benefits, mostly in the first quarter of fiscal 2027. Additionally, Chief Product Officer Ken Exner is resigning, with his last day being July 17, 2026, leading to a reporting structure change where engineering leaders will report directly to CEO Ashutosh Kulkarni. Elastic N.V. is a software company providing search, observability, and security solutions.