Elastic (NYSE:ESTC) reported its Q4 earnings results, with EPS coming in at $0.22, above the Street estimate of $0.09. Revenue was $280 million, beating the Street estimate of $277.63 million.

Profitability outperformed while Elastic Cloud revenue missed expectations due to sluggish consumption trends as customers optimize cloud usage.

For Q1/24, management anticipates EPS to be in the range of $0.10-$0.12, compared to the Street estimate of $0.13, and revenue in the range of $283-$286 million, compared to the Street estimate of $285.85 million.

For the full year, the company sees EPS at $0.94-$1.06, compared to the Street’s $0.89, and revenue at $1.238-$1.25 billion, compared to the Street’s $1.25 billion.