Elastic N.V. (ESTC) stock went down by a further 7.76% in the aftermarket, at $128.34 and after hours’ volume of 220.61K on December 01. The stock had already lost 10.50% in regular trading to close at $139.13 with 2.37 million shares exchanging. Intraday trading, the stock saw a range of $159.32 to $138.74, while it traded between $97.89 and $189.84 in the 52-week range. The 65-day average volume of the stock stands at 880.95 thousand shares. The stock has gone down by 11.24% in the past five trading sessions and 17.88% in the past month. Moreover, ESTC stock has lost a value of 4.79% year to date while it gained 16.04% in the past year. ESTC has a market capitalization of $14.31 billion with its 92.05 million shares outstanding.
Founded in 2012, Elastic N.V. (ESTC) engages in the provision of open-source search and analytics engines services.
ESTC’s Fall
Late on December 01, the company announced its financial results for the second fiscal quarter ended October 31, 2021. The earnings report not only beat its revenue and net loss per share estimates but its guidance as well. Despite producing such great financial results, the ESTC stock fell further in the after hours. While it had already been in the red for the past two trading sessions. The beat Q2 fiscal 2022 earnings still failed to change the investors’ minds and stock sentiments as it continued its fall.
Second Quarter Fiscal 2022
According to Wednesday’s announcement of the financial results, the total revenue was $206.0 million for the Q2 fiscal 2022. The revenue showed an increase of 42% year-over-year, beating the consensus estimate of $194.5 million.
Moreover, the net loss for the second quarter of fiscal 2022, was $47.02 million. Consequently, the GAAP net loss per share was $0.51 and the non-GAAP net loss per share was $0.09 for the Q2 fiscal 2022. While the expected net loss per share for the quarter was 16 cents.
Further, at the end of the second quarter of fiscal 2022, ESTC had cash and cash equivalents of $876.1 million.
ESTC’s Future Outlook
The company also provided future guidance for its third quarter of fiscal 2022, and the whole year fiscal 2022. As per the guidance, ESTC expects revenue between $207 million and $209 million for the upcoming quarter. While the non-GAAP net loss per share for the Q3 is expected to be in the range of $0.24 to $0.20.
In addition, the company expects revenue between $826 million and $832 million for the full fiscal year 2022, with a non-GAAP net loss per share between $0.61 and $0.51.
