Elastic posts $368M net income on $435M tax benefit; launches $500M buyback amid AI pivot

Filed June 8, 2026 · Period ending April 30, 2026 · Compared to 10-K Jun 10, 2025 · ~1 min read

Key Changes

• high

  Net income swung to $368M from $108M loss, driven by $435M valuation allowance release (Netherlands, UK, California). Without tax benefit, company would have posted operating loss.

  MD&A: Financial Performance verify on EDGAR →
• high

  Board authorized $500M share repurchase program in October 2025; company bought back $340M (4.4M shares at $76.91 avg) in FY2026, leaving $160M available.

  Controls & MD&A: Capital Allocation verify on EDGAR →
• high

  Revenue grew 17% to $1.74B with customer base up 12% to 24,000. High-value customers expanded: 1,720 spending >$100K annually, 240 spending >$1M annually.

  Business: Customer Metrics verify on EDGAR →