04:38 PM EDT, 08/29/2024 (MT Newswires) -- Elastic (ESTC) reported fiscal Q1 non-GAAP earnings Thursday of $0.35 per diluted share, up from $0.25 a year earlier.

Analysts polled by Capital IQ expected $0.25.

Revenue for the quarter ended July 31 was $347.4 million, up from $293.8 million a year earlier.

Analysts surveyed by Capital IQ expected $344.6 million.

The company said it expects Q2 non-GAAP EPS of $0.37 to $0.39 and revenue to be between $353 million and $355 million.

Analysts polled by Capital IQ expect $0.34 and $360.8 million, respectively.

The company expects fiscal 2025 non-GAAP EPS to be between $1.52 and $1.56 on revenue of $1.436 billion to $1.444 billion.

Analysts surveyed by Capital IQ expect $1.42 and $1.48 billion, respectively.

The company's shares were falling about 24% in after-hours trading.

Price: 78.72, Change: -24.92, Percent Change: -24.04