From Yahoo Finance · · 50s
Elastic Launches AI Search Database
Elastic's new AI search tool boosts growth with vector database.
In brief
Elastic's new AI search tool boosts growth with vector database. Elastic launched a serverless vector database to accelerate AI applications, driving 15% revenue growth and non-GAAP margins at 19.4% for fiscal 2027. Originally reported by Yahoo Finance.
Elastic launches vector database
Elastic released a serverless vector database for ai applications.
New database automates ai workflows
Automates document chunking, embedding and reranking models.
Serverless scaling up to billions
Scales to hundreds of billions of vectors with 32x memory reduction.
Q2 revenue hits $478m
First quarter revenue reached $478 million, up 15% year over year.
Customer growth accelerates
Added 1,800 customers with annual value over $100,000.
Non-GAAP margins improve
Non-GAAP operating margin guided to 19.4% for fiscal 2027.
GAAP loss persists
GAAP operating loss of $24 million despite growth.
The one thing
Elastic launched a serverless vector database to accelerate AI applications, driving 15% revenue growth and non-GAAP margins at 19.4% for fiscal 2027.
