Brent Thill's questions to Elastic (ESTC) leadership • Q1 2026
Question
Brent Thill from Jefferies asked for clarification on the guidance, which implies a deceleration from strong 20% Q1 growth to mid-teen growth for the full year. He also probed the source of the CEO's notable excitement for the security business.
Answer
CFO Navam Welihinda explained that the raised full-year guidance reflects increased confidence based on strong Q1 execution and a more stable macro environment than initially assumed. CEO Ashutosh Kulkarni clarified that his enthusiasm for security is long-standing, fueled by a consistent and building trend of competitive displacements, which he expects to continue as recent product innovations make it easier for customers to migrate.