Unfortunately Elastic lost -60.54% market value in the last 5 years. Negative net income every year since going public. The underlying message is a lot clear -

Unfortunately Elastic lost -60.54% market value in the last 5 years. Negative net income every year since going public. The underlying message is a lot clear - they are a public company. They have to do this and more show to net positive income to keep the market value from falling further. Companies can keep the employees with market value drop but it gets hard with negative income. Salesforce also lost ~37% value in last 5 years but they still print billions in net income every year. The same story with companies like Gitlab. They lost 75% market value and negative income since going public.