ESTCElastic N.V.
Services-Prepackaged Software
- Revenue
- $1.7B
- 17% YoY
- Operating margin
- -1.9%
- 48% YoY
- EBITDA
- −$30M
- 41% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$309M net debt
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear89% of net incomeCash flow under 80% of net income
- Dilutive SBCFired17% of revenueOver 10% of revenue
- Payouts exceed cash flowFired104% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear12% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $862M | $1.1B | $1.3B | $1.5B | $1.7B | 17% |
| Operating income | −$174M | −$219M | −$130M | −$55M | −$33M | 39% |
| Net income | −$236K | $62K | −$108K | $368K | $368M | 99900% |
| Operating cash flow | $6M | $36M | $149M | $266M | $327M | 23% |
| Capex | $2M | $3M | $3M | $4M | $5M | 17% |
| Stock-based comp | $3M | $204M | $239M | $258M | $298M | 16% |
| Buybacks | — | — | $0 | $0 | $340M |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
| Year | CEO total comp | Comp actually paid | TSR (indexed) | Peer TSR |
|---|---|---|---|---|
| FY2025 | $10M | $4M | 38 | 257 |
| FY2024 | $6M | $2M | 71 | 172 |
| FY2023 | — | — | 85 | 151 |
| FY2022 | — | — | 47 | 110 |
| FY2021 | — | — | 63 | 102 |