Earnings Update by AlphaStreet

— Elastic NV (NYSE: ESTC) reported a loss of $0.28 per share in the third-quarter of  2020 vs. $0.35 per share loss expected.  

— Q3 revenues grew 60% to $113.2 million, vs $107.3 million expected. SaaS revenue more than doubled to $25.1 million.

— Calculated billings were $122.9 million in Q3, up 54% YoY.

— Total customer count with ACV above $100,000 rose to 570, compared to over 525 in Q2.

— Chief Revenue Officer Aaron Katz transitioned into an advisory role until August 1, 2020, effective immediately. The company has initiated a search for his successor.

— For Q4, Elastic expects total revenues between $119 million and $120 million, and adjusted loss per share between $0.32 and $0.30.

— For fiscal 2020, the company is expected to report adjusted net loss of $1.13 to $1.12 per share on revenues of $423 million and $424 million.

— ESTC gained over 6% during pre-market hours. 

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