diff --git a/charts/flagsmith/Chart.yaml b/charts/flagsmith/Chart.yaml
index 2d7e496..8a3b970 100644
--- a/charts/flagsmith/Chart.yaml
+++ b/charts/flagsmith/Chart.yaml
@@ -2,8 +2,8 @@ apiVersion: v2
 name: flagsmith
 description: Flagsmith
 type: application
-version: 0.17.0
-appVersion: 2.42.1
+version: 0.18.0
+appVersion: 2.50.2
 dependencies:
   - name: postgresql
     repository: https://charts.helm.sh/stable
diff --git a/charts/flagsmith/ci/e2e-test-values.yaml b/charts/flagsmith/ci/e2e-test-values.yaml
index ea2a7fa..b131a30 100644
--- a/charts/flagsmith/ci/e2e-test-values.yaml
+++ b/charts/flagsmith/ci/e2e-test-values.yaml
@@ -6,10 +6,8 @@ frontend:
     SLACK_TOKEN: "${SLACK_TOKEN}"
 
 api:
+  analytics:
+    enabled: true
   extraEnv:
-    EMAIL_BACKEND: 'django.core.mail.backends.console.EmailBackend'
+    EMAIL_BACKEND: "django.core.mail.backends.console.EmailBackend"
     FE_E2E_TEST_USER_EMAIL: nightwatch@solidstategroup.com
-influxdb2:
-  # Needed to set this for the tests to not fail. Possibly related to
-  # https://github.com/Flagsmith/flagsmith/issues/340
-  enabled: false
diff --git a/charts/flagsmith/ci/influxdb-test-values.yaml b/charts/flagsmith/ci/influxdb-test-values.yaml
deleted file mode 100644
index fc2a058..0000000
--- a/charts/flagsmith/ci/influxdb-test-values.yaml
+++ /dev/null
@@ -1,11 +0,0 @@
-tests:
-  enabled: true
-
-api:
-  extraEnv:
-    ENABLE_INFLUXDB_FEATURES: 'true'
-  influxdbSetup:
-    enabled: true
-
-influxdb2:
-  enabled: true
diff --git a/charts/flagsmith/templates/NOTES.txt b/charts/flagsmith/templates/NOTES.txt
index 35f58f1..633ccf8 100644
--- a/charts/flagsmith/templates/NOTES.txt
+++ b/charts/flagsmith/templates/NOTES.txt
@@ -24,6 +24,35 @@ for information about how to gain web access to the application.
 
 {{- end }}
 
+{{- if not .Values.api.analytics.enabled }}
+
+######################################################
+#####      Analytics capabilities are off!       #####
+#####  Chart-provisioned InfluxDB is deprecated. #####
+######################################################
+
+If you were provisioning an InfluxDB instance for Flagsmith's
+analytics with these charts, your data is safe, but no new data
+will be written to it.
+
+*In a subsequent release, chart-provisioned InfluxDB and all related
+values under the `influxdb2` key will be removed.*
+
+When you enable analytics by setting `api.analytics.enabled`
+to `true`, the following database backend will be used for analytics,
+in the order of preference:
+
+  1. External InfluxDB if `influxdbExternal.enabled` set to `true`
+  2. Dedicated PostgreSQL specified by the `ANALYTICS_DATABASE_URL`
+     environment variable
+  3. External PostgreSQL if `databaseExternal.enabled` set to `true`
+  4. Chart-provisioned PostgreSQL
+
+Note that you can use a dedicated PostgreSQL instance by providing the
+value for `ANALYTICS_DATABASE_URL` environment variable under the
+`extraEnvFromSecret` key.
+{{- end}}
+
 {{- if not .Values.api.secretKey }}
 
 ######################################
diff --git a/charts/flagsmith/templates/_api_environment.yaml b/charts/flagsmith/templates/_api_environment.yaml
index f4d00a3..caaad0c 100644
--- a/charts/flagsmith/templates/_api_environment.yaml
+++ b/charts/flagsmith/templates/_api_environment.yaml
@@ -13,19 +13,8 @@
     secretKeyRef:
       name: {{ template "flagsmith.fullname" . }}
       key: DJANGO_SECRET_KEY
-{{- if .Values.influxdb2.enabled }}
-- name: INFLUXDB_URL
-  value: http://{{- template "flagsmith.influxdb.hostname" . -}}:80
-- name: INFLUXDB_BUCKET
-  value: {{ .Values.influxdb2.adminUser.bucket }}
-- name: INFLUXDB_ORG
-  value: {{ .Values.influxdb2.adminUser.organization }}
-- name: INFLUXDB_TOKEN
-  valueFrom:
-    secretKeyRef:
-      name: {{ template "flagsmith.influxdb.fullname" . }}-auth
-      key: admin-token
-{{- else if .Values.influxdbExternal.enabled }}
+{{- if .Values.api.analytics.enabled }}
+{{- if .Values.influxdbExternal.enabled }}
 - name: INFLUXDB_URL
   value: {{ .Values.influxdbExternal.url | required "Must specify a URL for an external InfluxDB" }}
 - name: INFLUXDB_BUCKET
@@ -42,6 +31,13 @@
       name: {{ template "flagsmith.influxdb.fullname" . }}-external-auth
       key: admin-token
       {{- end }}
+{{- else }}
+- name: USE_POSTGRES_FOR_ANALYTICS
+  value: 'true'
+{{- end }}
+{{- else }}
+- name: DISABLE_ANALYTICS_FEATURES
+  value: 'true'
 {{- end }}
 - name: DJANGO_ALLOWED_HOSTS
   value: '*'
diff --git a/charts/flagsmith/values.yaml b/charts/flagsmith/values.yaml
index 1cd9b75..a018fb8 100644
--- a/charts/flagsmith/values.yaml
+++ b/charts/flagsmith/values.yaml
@@ -4,7 +4,8 @@ api:
     tag: null # defaults to .Chart.AppVersion
     imagePullPolicy: IfNotPresent
     imagePullSecrets: []
-  # Note that if setting this to false, need to set
+  #
+  # Note that if `separateApiAndFrontend` is `false`, you'll need to set
   # api.image.repository to flagsmith/flagsmith (or some other
   # repository hosting the image with combined frontend and backend)
   # and that the image tag exists (for flagsmith/flagsmith, >=2.10.0)
@@ -13,6 +14,21 @@ api:
   # (unless explicitly switched off), but both are handled by the api
   # deployment's pods.
   separateApiAndFrontend: true
+  #
+  # If `analytics.enabled` flag is `true`, the following database backend
+  # will be used for analytics, in the order of preference:
+  #
+  #   1. External InfluxDB if `influxdbExternal.enabled` set to `true`
+  #   2. Dedicated PostgreSQL specified by the `ANALYTICS_DATABASE_URL`
+  #      environment variable
+  #   3. External PostgreSQL if `databaseExternal.enabled` set to `true`
+  #   4. Chart-provisioned PostgreSQL
+  #
+  # Note that you can use a dedicated PostgreSQL instance by providing the
+  # value for `ANALYTICS_DATABASE_URL` environment variable under the
+  # `extraEnvFromSecret` key.
+  analytics:
+    enabled: false
   replicacount: 1
   deploymentStrategy: null
   podAnnotations: {}