ESTC earnings call for the period ending September 30, 2024.
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Elastic (ESTC 6.27%)
Q2 2025 Earnings Call
Nov 21, 2024, 5:00 p.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Good day, and welcome to the Elastic second quarter fiscal 2025 earnings results conference call. All participants will be in listen-only mode. [Operator instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator instructions] Please note, this event is being recorded.
I would now like to turn the conference over to Anthony Luscri, vice president, investor relations. Please go ahead.
Anthony Luscri — Vice President, Investor Relations
Thank you. Good afternoon, and thank you for joining us on today’s conference call to discuss Elastic’s second quarter fiscal 2025 financial results. On the call, we have Ash Kulkarni, chief executive officer; Janesh Moorjani, chief financial officer and chief operating officer; and Eric Prengel, our incoming interim CFO. Following their prepared remarks, we will take questions.
Our press release was issued today after the close of the market and is posted on our website. Slides, which are supplemental to this call can also be found on the Elastic investor relations website at ir.elastic.co. Our discussion will include forward-looking statements, which may include predictions, estimates, or expectations regarding the demand for our products and solutions and our future revenue and other information. These forward-looking statements are based on factors currently known to us, speak only as of the date of this call, and are subject to risks and uncertainties that could cause actual results to differ materially.
We disclaim any obligation to update or revise these forward-looking statements unless required by law. Please refer to the risks and uncertainties included in the press release that we issued earlier today, included in the slides posted on the investor relations website, and those more fully described in our filings with the Securities and Exchange Commission. We will also discuss certain non-GAAP financial measures. Disclosures regarding non-GAAP measures, including reconciliations with the most comparable GAAP measures can be found in the press release and slides.
The webcast replay of this call will be available on our company website under the Investor Relations link. Our third quarter fiscal 2025 quiet period begins at the close of business on Friday, January 17th, 2025. We will be participating in Scotiabank’s Global Technology Conference on December 10th, and the Needham Growth Conference on January 16th. With that, I’ll turn it over to Ash.
Ash Kulkarni — Chief Executive Officer
Thank you, Anthony, and thank you, everyone, for joining us on today’s call. Elastic delivered a strong second quarter supported by solid sales execution and customer commitments. In Q2, we meaningfully exceeded guidance across all revenue and profitability metrics. Revenue grew by 18% year over year.
Cloud revenue grew by 25% year over year, and we delivered a non-GAAP operating margin of 18%. We also increased the number of customers spending over 100K with us to 1,420. At the start of this fiscal year, we made sales segmentation changes to increase the focus on our key enterprise and high-potential mid-market customers. After some unexpected disruption in sales performance in Q1, we are now starting to see the benefits of the changes we made take hold.
