What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2021-06-25 compared with 2020-06-26 · 2 added, 87 removed, 21 unchanged (81% of the section changed)

17 unchanged sentences

The comparisons in the graph below are based upon historical data and are not indicative of, nor intended to forecast, future performance of our ordinary shares.

This performance graph shall not be deemed "soliciting material" or to be "filed" with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into ant filing of Elastic N.V.

This performance graph shall not be deemed “soliciting material” or to be “filed” with the SEC for purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of Elastic N.V.

under the Securities Act or the Exchange Act.

1 unchanged sentence

Selected Financial Data.

The following selected consolidated financial data should be read in conjunction with Part II, Item 7, Management’s Discussion and Analysis of Financial Condition and Results of Operations and the consolidated financial statements and related notes included in Part II, Item 8, Financial Statements, of this Annual Report on Form 10-K.

The selected consolidated statements of operations data presented below for the years ended April 30, 2020, 2019 and 2018 and the consolidated balance sheet data as of April 30, 2020 and 2019 are derived from our audited consolidated financial statements that are included elsewhere in this Annual Report on Form 10-K.

The consolidated balance sheet data as of April 30, 2018 is derived from our audited consolidated financial statements not included in this Annual Report on Form 10-K.

The selected consolidated financial data in this section are not intended to replace our consolidated financial statements and the related notes, and are qualified in their entirety by the consolidated financial statements and related notes included elsewhere in Annual Report on Form 10-K.

Our historical results are not necessarily indicative of our future results.

Consolidated Statements of Operations:

Year Ended April 30,

2020 2019 2018

(in thousands)

License - self-managed $ 53,536 $ 39,474 $ 25,759

Subscription - self-managed and SaaS 338,634 208,780 123,623

Total subscription revenue 392,170 248,254 149,382

Professional services 35,450 23,399 10,553

Total revenue 427,620 271,653 159,935

Cost of revenue (1)(2)(3)

Cost of license - self-managed 948 387 387

Cost of subscription - self-managed and SaaS 84,819 53,560 27,920

Total cost of revenue - subscription 85,767 53,947 28,307

Cost of professional services 36,923 24,063 12,433

Total cost of revenue 122,690 78,010 40,740

Gross profit 304,930 193,643 119,195

Operating expenses (1)(2)(3)(4)

Research and development 165,370 101,167 55,641

Sales and marketing 219,040 147,296 82,606

General and administrative 91,625 46,536 28,942

Total operating expenses 476,035 294,999 167,189

Operating loss (1)(2)(3)(4)

(171,105) (101,356) (47,994)

Other income (expense), net 1,963 3,441 (1,357)

Loss before income taxes (169,142) (97,915) (49,351)

Provision for (benefit from) income taxes (1,968) 4,388 3,376

Net loss $ (167,174) $ (102,303) $ (52,727)

Net loss per share attributable to ordinary shareholders, basic and diluted

$ (2.12) $ (1.86) $ (1.65)

Weighted-average shares used to compute net loss per share attributable to ordinary shareholders, basic and diluted

78,799,732 54,893,365 32,033,792

(1) Includes stock-based compensation expense as follows:

Year Ended April 30,

2020 2019 2018

(in thousands)

Cost of Revenue

Cost of subscription - self managed and SaaS $ 4,147 $ 3,383 $ 699

Cost of professional services 2,980 1,208 329

Research and development 23,621 16,100 5,045

Sales and marketing 19,334 11,996 3,560

General and administrative 9,925 7,255 3,109

Total stock-based compensation expense $ 60,007 $ 39,942 $ 12,742

(2) Includes employer payroll taxes on employee stock transactions as follows (information for fiscal year 2018 is not meaningful):

Year Ended April 30,

2020 2019 2018

(in thousands)

Cost of Revenue

Cost of subscription - self managed and SaaS $ 349 $ 28 $ —

Cost of professional services 178 10 —

Research and development 2,179 939 —

Sales and marketing 3,237 747 —

General and administrative 1,550 90 —

Total stock-based compensation expense $ 7,493 $ 1,814 $ —

(3) Includes amortization of acquired intangibles as follows:

Year Ended April 30,

2020 2019 2018

(in thousands)

Cost of Revenue

Cost of license - self-managed $ 948 $ 387 $ 387

Cost of subscription - self-managed and SaaS 5,820 2,421 1,521

Sales and marketing 3,300 148 119

Total amortization of acquired intangibles $ 10,068 $ 2,956 $ 2,027

(4) Includes acquisition-related expenses as follows:

Year Ended April 30,

2020 2019 2018

(in thousands)

Research and development $ 34 $ 689 $ 655

Sales and marketing 522 — —

General and administrative 17,418 259 608

Total acquisition-related expenses $ 17,974 $ 948 $ 1,263

Consolidated Balance Sheet Data:

As of April 30,

2020 2019 2018

(in thousands)

Cash and cash equivalents $ 297,081 $ 298,000 $ 50,941

Working capital $ 158,815 $ 226,061 $ 7,116

Total assets $ 803,911 $ 485,738 $ 183,013

Deferred revenue, current and non-current $ 259,702 $ 170,666 $ 102,561

Redeemable convertible preference shares $ — $ — $ 200,921

Accumulated deficit $ (484,251) $ (317,077) $ (214,774)

Total shareholders' equity (deficit) $ 413,647 $ 263,012 $ (153,529)

Part II, Item 6 is no longer required as the Company has elected to early adopt the changes to Item 301 of Regulation S-K contained in SEC Release No.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity