Elastic NV (NYSE:ESTC) shares are trading lower premarket today after it reported third-quarter FY24 results.
Revenue rose 19% Y/Y to $328.0 million, beating the consensus of $323.1 million. Elastic Cloud revenue increased 29% Y/Y to $143 million in the quarter.
The total subscription customer count stood at around 20,800, and the customer count with an Annual Contract Value (ACV) greater than $100,000 came in at over 1,270, with a net expansion rate of about 109%.
Adjusted operating income stood at $43 million, with …