Elastic N.V. experiences continued customer growth, boasting 20,200 customers as of April 30, 2023

Elastic N.V., a globally recognized software company making it simple for organizations to gain insights from massive data sets, recently reported a surge in its customer base. As of April 30, 2023, the company has approximately 20,200 customers, compared to over 18,600 customers and over 15,000 customers as of April 30, 2022, and 2021, respectively. Elastic N.V. has established itself as a go-to platform for various organizations, from enterprises and educational institutions to government entities.

Based on its SEC report, Elastic N.V. offers an innovative solution called the Elastic Stack enabling clients to store, analyze, and visualize data from any source or format, providing rapid search results within milliseconds. The Elastic Stack primarily comprises Elasticsearch, Kibana, Elastic Agent, Beats, and Logstash. Elastic also presents a suite of solutions built in the Elastic Stack to address a variety of use cases, including Search, Observability, and Security.

The company credits several strengths to its products, including speed, scale, relevance, ease of use, flexibility, and extensibility. Elasticsearch, the core of the Elastic Stack, serves as a distributed, real-time search and analytics engine capable of processing structured and unstructured data. Kibana offers a user-friendly interface for data visualization and Elastic Stack management, while the other components assist in data ingestion and processing.

Elastic N.V. has been successful in expanding its customer base and deploying its products across public or private clouds, hybrid environments, and multi-cloud settings

Elastic Cloud, its cloud-hosted offering, is available on major public cloud providers and has seen constant innovation and adoption, representing a significant avenue for growth.

By developing user-friendly software for both developers and non-developers and engaging with developers globally, Elastic has established a loyal user community. Elastic N.V. continuously invests in research and development to maintain technology leadership, with research and development expenses totaling $313.5 million and $273.8 million for the years ended April 30, 2023, and 2022, respectively.

Elastic N.V.’s sales and marketing strategies aim to make it easy for users to adopt their products

Either through free trials on Elastic Cloud or direct downloads from their website with minimal sales interaction. The company actively pursues partnerships with cloud providers, systems integrators, channel partners, referral partners, OEM and MSP partners, and technology partners to enhance its product reach and adoption.

As Elastic N.V. continues to focus on expanding its customer base, improving ease of use, and growing its user community, its commitment to developing high-quality software and providing exceptional customer support is apparent. The company’s innovative solutions, strategic collaborations, and research and development investments position Elastic N.V. as a leader in the software industry, driving growth and success for many organizations worldwide.

Note that we may hold securities mentioned in this article. All data is based on recent SEC filings. Even though we have implemented various manual and automatic fact-checking and data acquisition processes, some incorrect information may have slipped through (false positive). Let us know if you find any inconsistencies!