Elastic ( (ESTC) ) has issued an update.
Elastic announced the appointment of Navam Welihinda as its new Chief Financial Officer, effective February 28, 2025, succeeding Eric Prengel. Welihinda, with a background at Grammarly and HashiCorp, is expected to lead Elastic’s finance function and contribute to its growth. In its third quarter of fiscal 2025, Elastic reported a 17% year-over-year increase in total revenue to $382 million and a 26% increase in Elastic Cloud revenue to $180 million, reflecting strong sales execution and market demand. The company also highlighted significant product innovations and received recognition as the AWS Global Generative AI Infrastructure and Data Partner of the Year 2024.
More about Elastic
Elastic, known as the Search AI Company, provides solutions for search, observability, and security, built on the Elastic Search AI Platform. The company serves a wide range of industries and is used by more than 50% of the Fortune 500 companies.
YTD Price Performance: 4.46%
Average Trading Volume: 1,280,260
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $10.73B
Learn more about ESTC stock on TipRanks’ Stock Analysis page.