Search AI platform provider Elastic (NYSE: ESTC) will be reporting earnings this Thursday after market hours. Here’s what to expect.

Elastic beat analysts’ revenue expectations by 2.1% last quarter, reporting revenues of $388.4 million, up 16% year on year. It was a strong quarter for the company, with accelerating customer growth and a solid beat of analysts’ EBITDA estimates. It added 50 enterprise customers paying more than $100,000 annually to reach a total of 1,510.

Is Elastic a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Elastic’s revenue to grow 14.3% year on year to $397.2 million, slowing from the 18.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.42 per share.

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Elastic has only missed Wall Street’s revenue estimates once over the last two years, exceeding top-line expectations by 2% on average.

Looking at Elastic’s peers in the data and analytics software segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Teradata’s revenues decreased 6.4% year on year, beating analysts’ expectations by 1.5%, and Confluent reported revenues up 20.1%, topping estimates by 1.4%. Teradata traded up 8% following the results while Confluent was down 32.8%.

Read our full analysis of Teradata’s results here and Confluent’s results here.

Debates around the economy’s health and the impact of potential tariffs and corporate tax cuts have caused much uncertainty in 2025. While some of the data and analytics software stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5.1% on average over the last month. Elastic is down 10% during the same time and is heading into earnings with an average analyst price target of $108.65 (compared to the current share price of $80).

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