Elastic reported $1.85B of remaining performance obligations at 31 Jul 2026, up 27% from a year earlier and down 6% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.73.
Net new backlog added in the latest quarter: -$128M.
Over the last twelve months it turned about 110% of its opening backlog into revenue (12-month conversion).
62% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 45.3% of the backlog.
Twelve-month book-to-bill: 1.22, i.e. 1.22 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: +11 points — orders are running ahead of revenue.
By backlog size it ranks 187th among US filers the cockpit tracks.
Elastic backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
31 Jul 2026
$1.85B
$1.80B
1.0 yrs
$840M
30 Apr 2026
$1.98B
$1.74B
1.1 yrs
$974M
31 Jan 2026
$1.65B
$1.68B
1.0 yrs
$764M
31 Oct 2025
$1.51B
$1.61B
0.9 yrs
$693M
31 Jul 2025
$1.46B
$1.55B
0.9 yrs
$710M
30 Apr 2025
$1.54B
$1.48B
1.0 yrs
$802M
31 Jan 2025
$1.35B
$1.43B
0.9 yrs
$661M
31 Oct 2024
$1.27B
$1.38B
0.9 yrs
$608M
31 Jul 2024
$1.26B
$1.32B
1.0 yrs
$599M
30 Apr 2024
$1.35B
$1.27B
1.1 yrs
$664M
31 Jan 2024
$1.18B
$1.21B
1.0 yrs
$562M
31 Oct 2023
$1.12B
$1.16B
1.0 yrs
$511M
Questions
What is Elastic's backlog?
Elastic reported $1.85B of remaining performance obligations at 31 Jul 2026, up 27% from a year earlier and down 6% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 0.73.
How fast does Elastic's backlog turn into revenue?
Over the last twelve months Elastic recognised revenue equal to about 110% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.