Elastic N.V. (ESTC) Presents at Barclays 23rd Annual Global Technology Conference Transcript
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SA Transcripts157.29K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Elastic N.V. (ESTC) Barclays 23rd Annual Global Technology Conference December 10, 2025 11:05 AM EST Company Participants Ashutosh Kulkarni - CEO & Executive DirectorEric Prengel - Global Vice President of Finance Conference Call Participants Raimo Lenschow - Barclays Bank PLC, Research Division Presentation Raimo LenschowBarclays Bank PLC, Research Division Welcome to our first session. I'm really happy to have the team from Elastic here. Ash, Eric, thanks for joining us. Question-and-Answer Session Raimo LenschowBarclays Bank PLC, Research Division Maybe let's start like to get everyone grounded, like Ash, you reported some really good numbers last week. From -- a couple of weeks ago, yes. What was the highlight from your perspective? Like just -- what you saw? Ashutosh KulkarniCEO & Executive Director So Q2 for us, probably the most interesting thing about Q2 was very strong commitments from customers. The way our business is set up is fundamentally our sales-driven motion is the primary motion for our go-to-market. And customers make commitments, whether it's on cloud or self-managed, doesn't really matter from our perspective. And those commitments then turn into revenue over the next 12 months as consumption happens. And we saw really strong commitments across the board. Some of the largest $1 million-plus deals that we've ever done, 2 deals that were over $20 million in total contract value, 5 total that were over $10 million and 30-plus deals that were $1 million deals. So really good momentum in the sales organization. In terms of the business areas that we continue to see strength in, AI is our fastest-growing part of our business. We saw that continue to play out well. And then 2 of the largest deals were security deals. So we are now doing very meaningful displacements of incumbents. Both the $20-plus million deals were security. The largest was the one Recommended For You