0001707753-25-000040
SEC filingFY26Q1营收增20%至$415.3M，亏损收窄至$24.6M，云业务驱动增长。
| 指标 | 本期 | 去年同期 | 同比 |
|---|---|---|---|
| Revenue | $415.3M | $347.4M | +20% |
| Gross Profit | $318.5M | $255.7M | +25% |
| Gross Margin | 77% | 74% | +300bps |
| Operating Loss | ($9.4M) | ($33.8M) | +72% |
| Operating Margin | -2% | -10% | +800bps |
| Net Loss | ($24.6M) | ($49.2M) | +50% |
| Diluted EPS | ($0.23) | ($0.48) | +$0.25 |
| Operating Cash Flow | $104.8M | $52.8M | +99% |
| Free Cash Flow | $104.2M | $52.0M | +100% |
FY26Q1营收增长20%至$415.3M，主要由Elastic Cloud（+24%）和Other subscription（+16%）驱动。其中Annual Elastic Cloud增长31%，显示客户向云订阅迁移趋势强劲。毛利率提升300bps至77%，主要得益于云基础设施成本下降，但Services毛利率为负（-2%），反映服务业务投入加大。
经营亏损大幅收窄至$9.4M，主要因营收增长和毛利率改善，但研发费用（+22%）和销售费用（+11%）仍保持较高增速。净亏损收窄至$24.6M，每股亏损$0.23，较去年同期的$0.48显著改善。经营现金流达$104.8M，同比增长近一倍，盈利质量良好。
| 分部 | 营收 | 同比 | 经营利润/EBITDA | 利润率 | 驱动 |
|---|---|---|---|---|---|
| Elastic Cloud | $195.8M | +24% | — | — | Annual Elastic Cloud增长31% |
| Other subscription | $192.8M | +16% | — | — | 自管理订阅稳健增长 |
| Services | $26.7M | +13% | — | -2% | 服务投入加大，毛利率为负 |
| 项目 | 本期 | 上期/变化 |
|---|---|---|
| Cash & ST investments | $1.494B | +$96.8M |
| Total Debt | $570.0M | +$0.3M |
| Inventory | — | — |
| RPO | $1.461B | — |
| Operating Cash Flow | $104.8M | +$52.0M |
| Capex | $0.7M | -$0.1M |
| Free Cash Flow | $104.2M | +$52.2M |
| FCF 转化率 | 424% | — |
现金储备充足，达$1.494B，无短期偿债压力。经营现金流强劲，主要受益于应收账款减少$154.0M。资本开支仅$0.7M，FCF转化率高。