Filing Flows › Elastic N.V. (ESTC) › Q2 FY26
Elastic N.V. (ESTC) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 24, 2025
Elastic N.V. (ESTC) reported revenue of $423M for the second quarter fiscal 2026 (Q2 FY26), +16% from a year earlier and +2% from the quarter before. Operating margin was -1.9%, net loss $51.3M (12.1% of revenue).
Elastic N.V., Q2 FY26: revenue $423M (+16% year over year), operating margin -1.9%, net loss $51.3M, operating cash flow $26.6M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $423M | +2% | +16% |
| Operating profit | −$8.2M | — | — |
| Net earnings | −$51.3M | — | — |
| Operating cash flow | $26.6M | -75% | -31% |
| Free cash flow | $26.0M | — | -31% |
What changed
Revenue was $423.5M in Q2 FY26, up 16% year over year and up 2% from the previous quarter. Self-managed subscription was the largest line at 45% of revenue. Saa S Self Managed - Annual added $33.5M year over year (up 27%), 58% of the total change.
Gross margin was 75.9%, up 1.4 points from a year earlier. Operating costs exceeded revenue by $8.2M, an operating margin of -1.9%. Operating expenses grew 19% against revenue growth of 16%. The fastest-growing cost line was Research & development (+23%). The quarter ended with a net loss of $51.3M, wider than the previous quarter's $24.6M loss. Non-operating items added $9.5M, 730% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $26.6M (down 31% year over year). Non-cash charges added back $2.9M of depreciation and amortization and $72.9M of share-based compensation. Working capital and other items added $2.1M. After purchases of property and equipment ($605K), adjusted free cash flow as the company reports it was $26.0M.
Questions
What was Elastic N.V.'s revenue in the second quarter fiscal 2026?
Elastic N.V.
Was Elastic N.V. profitable in the second quarter fiscal 2026?
Operating loss was $8.2M (-1.9% of revenue) and net loss $51.3M.
Source: Elastic N.V. 10-Q on SEC EDGAR.