SANTA CLARA, Calif., June 5, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its first quarter ended April 30, 2024."We grew ARR by 21% year-over-year, continued to increase our Capella mix, and made meaningful progress in our efforts to improve our operational rigor and efficiency," said Matt Cain, Chair, President and CEO of Couchbase. "I'm particularly pleased that we delivered revenue and operating loss results that exceeded ...

SANTA CLARA, Calif., May 15, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that it will report financial results for its first quarter ended April 30, 2024 on Wednesday, June 5, 2024 after market close. Couchbase will host a conference call and webcast at 1:30 p.m. Pacific Time (or 4:30 p.m. Eastern Time) on the same day to discuss its financial results. The conference call can be accessed by dialing 877-407-8029 from the United States, or +1 201-6 ...

Global Research Shows More Than Half of Enterprises Need Significant Data Management Investment, and Over a Quarter Are Diverting IT Budgets to Meet GenAI Goals SANTA CLARA, Calif., May 6, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today released the findings from its seventh annual survey of global IT leaders. The study of 500 senior IT decision makers1 found that investment in IT modernization is set to increase by 27% in 2024, as enterprises look to take adv ...

Financial Performance and Losses - The company incurred net losses of $80.2 million, $68.5 million, and $58.2 million for fiscal 2024, 2023, and 2022, respectively, with an accumulated deficit of $490.7 million as of January 31, 2024[86] - Revenue for fiscal 2024, 2023, and 2022 was $180.0 million, $154.8 million, and $123.5 million, respectively, with fluctuating revenue growth rates[87] - Subscription revenue accounted for 95%, 92%, and 94% of total revenue for fiscal 2024, 2023, and 2022, respectively[106] - Total revenue for the year ended January 31, 2024, was $180.0 million, compared to $154.8 million in 2023 and $123.5 million in 2022[340] - Subscription revenue for 2024 was $171.6 million, up from $142.9 million in 2023 and $116.3 million in 2022[340] - Net loss for 2024 was $80.2 million, compared to $68.5 million in 2023 and $58.2 million in 2022[340] - Net loss for fiscal year 2024 was $80.183 million, compared to $68.494 million in 2023 and $58.229 million in 2022[349] - Accumulated deficit grew to $490.659 million as of January 31, 2024 from $410.476 million in 2023[346] Revenue Recognition and Subscription Model - A significant portion of subscription revenue is recognized ratably over the term of the subscription, typically ranging from one to three years[105][106] - Subscription revenue is recognized ratably over the term of the arrangement, with PCS representing a substantial majority of the company's revenue[357] - The company's services revenue is derived from professional services and training, recognized on a proportional performance basis as services are performed[358] Competition and Market Challenges - The company faces intense competition from established legacy database providers like Oracle, IBM, and Microsoft, as well as NoSQL providers like MongoDB and cloud infrastructure providers like Amazon, Microsoft, and Google[91] - The market for the company's products and services is relatively new and evolving, with uncertainty around future growth and adoption rates[97] - Competitors may develop competitive offerings using open source software, potentially leading to price reductions and loss of market share[153] Growth Strategy and Investments - The company's growth strategy includes significant investments in platform development, sales, marketing, and infrastructure, both domestically and internationally[86] - The company plans to increase investment in research and development, sales and marketing, and general administrative functions to grow its business[108] - Research and development expenses for 2024 were $64.1 million, up from $57.8 million in 2023 and $51.6 million in 2022[340] - Sales and marketing expenses for 2024 were $130.6 million, compared to $111.1 million in 2023 and $89.4 million in 2022[340] Customer Retention and Sales Challenges - The company's success depends on retaining existing customers through subscription renewals and expanding relationships, with subscription terms typically ranging from one to three years[94] - Sales to large enterprises involve longer and unpredictable sales cycles, complex requirements, and substantial upfront costs, which may be exacerbated in the current macroeconomic environment[110] - The company relies heavily on its sales force, and challenges in hiring, training, and retaining effective sales personnel could adversely affect its business[109] Innovation and Technology Risks - The company's ability to innovate and respond to changing customer needs, new technologies, and market requirements is critical for future success[99] - AI product development, including Capella iQ, faces regulatory, reputational, and liability risks due to evolving AI technologies and market competition[129] - Open source software usage in products may expose the company to litigation and enable competitors to access and use its technology[146] International Expansion and Risks - The company's international expansion faces risks such as fluctuating exchange rates, regulatory compliance costs, and challenges in enforcing contracts[118] - Currency exchange rate fluctuations, particularly a stronger U.S. Dollar, could increase costs for international customers and affect demand[135] - Foreign currency transaction losses were $0.8 million, $0.5 million, and $0.4 million for the years ended January 31, 2024, 2023, and 2022, respectively[355] Intellectual Property and Legal Risks - The company owns 5 issued U.S. patents, 9 U.S. non-provisional patent applications, and 3 foreign patent applications as of January 31, 2024[154] - The company faces challenges in protecting intellectual property rights, particularly in international markets where enforcement may be weaker[155] - Unauthorized use or misappropriation of the company's trade secrets and proprietary information could harm its competitive position[157] - Litigation to enforce intellectual property rights could be costly and distract management, potentially impairing product functionality and brand reputation[158] - The company faces potential intellectual property disputes which could result in significant liability, damages, and limitations on technology use[160] - Indemnification provisions in customer agreements may require the company to cover losses from intellectual property claims, leading to substantial legal costs and potential business disruptions[161] - The company may need to seek licenses for intellectual property rights, which could increase operating expenses and provide competitors access to the same technology[162] - Intellectual property claims could divert management resources and negatively impact the company's stock price if perceived negatively by investors[163] Regulatory and Compliance Risks - The company is subject to a wide range of evolving laws and regulations, including data privacy, cybersecurity, and AI, which could result in investigations, fines, and other penalties[165] - Non-compliance with laws and regulations could lead to government sanctions, enforcement actions, and significant management distraction[166] - The company faces potential fines of up to 20 million euros or 4% of annual global revenue for GDPR violations[171] - The California Consumer Privacy Act (CCPA) imposes new obligations and penalties, including a private right of action for data breaches[171] - The company may incur significant costs and operational burdens due to evolving data privacy laws in the US and internationally[173] - Increased adoption of Couchbase Capella may subject the company to additional data protection and privacy requirements, including HIPAA compliance[173] - The company may face significant fines, penalties, and reputational damage if it fails to comply with privacy and data protection laws[173] - The company is subject to anti-bribery, anti-corruption, and anti-money laundering laws, with potential penalties for violations[182] - The company may face significant legal and financial consequences if it fails to comply with export control and trade sanctions[185] - The company is subject to U.S. export control laws and regulations, including the Export Administration Regulations (EAR) and economic sanctions, which could delay or prevent the export of products to certain countries, potentially resulting in lost sales opportunities[186][187][188] Cybersecurity and Data Protection - Security breaches or unauthorized access to data could harm the company's reputation, lead to customer loss, and result in regulatory investigations and significant liability[168] - The company has experienced security incidents, including supply-chain attacks and credential exposure, and may face increased risks due to remote work and geopolitical events[169] - Security measures may not be effective against current or future threats, and the company may incur significant costs to investigate and remediate security vulnerabilities[169] - Insurance coverage may not be adequate for liabilities from security incidents, and future insurance may not be available on commercially reasonable terms[170] - Cybersecurity risk management is a critical component of the company's overall risk strategy, with policies and processes integrated into its risk management program[221][222] - The company conducts periodic technical risk assessments and employs third-party tools and safeguards to mitigate cybersecurity threats[223][224] - The company has a security incident management process to minimize and contain the impact of cybersecurity incidents, supported by cybersecurity insurance[225] Tax and Financial Risks - The company faces potential tax liabilities due to international operations, with the possibility of additional taxes, interest, and penalties if tax authorities challenge its transfer pricing methodologies[189] - The Inflation Reduction Act of 2022 imposes a 15% minimum tax on global adjusted financial statement income and a 1% excise tax on certain share repurchases, though the company does not expect a material impact on its income tax liability[190] - The company has federal and state net operating losses (NOLs) of $335.6 million and $193.2 million, respectively, as of January 31, 2024, with limitations on their utilization due to tax regulations[192][193] - Changes in tax laws, including global initiatives like Pillar Two and the global minimum tax, could increase the company's worldwide effective tax rate and harm its financial condition[191] - The company is subject to tax audits and may face additional tax liabilities if tax authorities challenge its tax positions, which could adversely affect its financial condition and results of operations[195][196] Corporate Governance and Stockholder Risks - The company is required to maintain effective internal control over financial reporting, and any failure to do so could harm investor confidence and the market price of its common stock[201][204] - As a public company, the company incurs substantial legal, accounting, and compliance costs, which could divert management attention and increase operational expenses[206] - The company is an "emerging growth company" and may take advantage of reduced disclosure requirements, which could make its common stock less attractive to some investors[209] - The company's executive officers, directors, and major stockholders collectively own a substantial portion of the outstanding shares, potentially influencing important transactions and decisions[210] - The market price of the company's common stock is volatile and subject to fluctuations due to various factors, including investor confidence, analyst coverage, and market speculation[211] - Sales of substantial amounts of common stock in the public market could cause the stock price to decline and impair the company's ability to raise capital[213] - The issuance of additional stock for financings, acquisitions, or equity compensation plans may dilute existing stockholders and negatively impact the stock price[214] - Delaware law and corporate governance provisions could make mergers, tender offers, or proxy contests difficult, potentially depressing the stock price[215] - The company does not intend to pay dividends in the foreseeable future, relying on stock price appreciation for investor returns[220] Operational and Market Risks - The company has a limited operating history since its formation in 2011, making it difficult to predict future results and manage risks effectively[101] - Future results of operations and key business metrics may fluctuate significantly due to factors such as market acceptance, sales cycle length, and international expansion efforts[102] - The company's ability to manage growth effectively, including integrating new employees, technologies, and acquisitions, is crucial for maintaining product quality and operational efficiency[89] - Acquisitions and investments carry risks such as unanticipated costs, integration challenges, and potential failure to achieve synergies[128] - Economic downturns could lead to reduced IT spending, longer sales cycles, and delayed customer payments, impacting revenue[131] - Natural disasters, pandemics, or political crises could disrupt operations and negatively impact global demand for products and services[136] - The company's revenue growth depends on maintaining successful relationships with partners, identifying additional partners, and training partners to independently sell products and services[140] - Cloud hosting infrastructure is critical as customers adopt Couchbase Capella, and disruptions with third-party providers could increase costs and delay service delivery[142] - The company relies on third-party data for public estimates, and inaccuracies in such data could harm its reputation and business[143][145] Financial Position and Cash Flow - Cash and cash equivalents as of January 31, 2024, totaled $41.4 million, while short-term investments amounted to $112.3 million[325] - A hypothetical 10% change in interest rates would not materially affect the company's results of operations or cash flows due to the short-term nature of its investment portfolio[325] - A hypothetical 10% change in the relative value of the U.S. Dollar to other currencies would not have a material impact on the company's results of operations and cash flows[326] - Total assets as of January 31, 2024, were $247.8 million, slightly down from $253.0 million in 2023[337] - Total liabilities as of January 31, 2024, were $117.3 million, up from $102.8 million in 2023[337] - Total stockholders' equity as of January 31, 2024 was $130.421 million, down from $150.264 million in 2023[346] - Stock-based compensation increased to $46.544 million in 2024, up from $26.449 million in 2023[346] - Net cash used in operating activities decreased to $26.893 million in 2024 from $41.185 million in 2023[349] - Total cash, cash equivalents and restricted cash stood at $41.894 million as of January 31, 2024, up from $40.989 million in 2023[349] - Purchases of short-term investments totaled $131.160 million in 2024, down from $144.613 million in 2023[349] - Maturities and sales of short-term investments generated $151.296 million in 2024, up from $126.893 million in 2023[349] - Proceeds from exercise of stock options increased to $10.933 million in 2024 from $5.222 million in 2023[349] - Net unrealized gains on investments were $863,000 in 2024, compared to losses of $612,000 in 2023[346] Cost Structure and Expenses - Cost of subscription revenue includes personnel-related costs, third-party cloud infrastructure expenses, and amortization of capitalized internal-use software[361] - Cost of services revenue includes personnel-related costs, third-party partner expenses, and travel-related expenses[362] - Advertising costs were not material for the years ended January 31, 2024, 2023, and 2022[363] - Stock-based compensation expense is recognized over the requisite service period, with forfeitures accounted for as they occur[365] - The company records a provision for income taxes using the asset and liability method, recognizing deferred tax assets and liabilities[366] - The allowance for doubtful accounts increased from $108,000 in 2022 to $224,000 in 2024, with bad debt expense of $51,000 in 2024[378]

SANTA CLARA, Calif., March 7, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced the expansion of its executive leadership team with the appointment of Julie Irish as senior vice president and chief information officer. In this role, Irish will drive Couchbase's global IT strategy in alignment with the company's key business objectives. Irish brings nearly 20 years of experience leading business operations, information technology, system implementation, ...

Cloud database specialist Couchbase (BASE 4.01%) enjoyed a nice jump in share price on Wednesday following the release of its latest set of quarterly and annual financial results for fiscal 2024. Investors rewarded the company for its better-than-expected quarter by pushing the stock's price up by 4%. That was a far higher rise than the 0.5% advance of the S&P 500 index.Convincing beats on the top and bottom lines for the fourth quarterIn said quarter, Couchbase took in revenue of slightly over $50 million. ...

Couchbase, Inc. (NASDAQ:BASE) Q4 2024 Earnings Conference Call March 5, 2024 5:00 PM ET Company Participants Edward Parker - Investor Relations Matt Cain - Chair, President and Chief Executive Officer Greg Henry - Chief Financial Officer Conference Call Participants Matt Hedberg - RBC Capital Markets Jason Ader - William Blair Rob Oliver - Baird Raimo Lenschow - Barclays Howard Ma - Guggenheim Securities Taz Koujalgi - Wedbush Securities Andres Miranda - D.A. Davidson Param Singh - Oppenheimer & Co. Operato ...

Couchbase, Inc. (BASE) reported $50.09 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 20.4%. EPS of -$0.06 for the same period compares to -$0.18 a year ago.The reported revenue represents a surprise of +7.59% over the Zacks Consensus Estimate of $46.56 million. With the consensus EPS estimate being -$0.14, the EPS surprise was +57.14%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to ...

Exhibit 99.1 Couchbase Announces Fourth Quarter and Fiscal 2024 Financial Results Fourth Quarter Fiscal 2024 Financial Highlights Santa Clara, Calif., - March 5, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its fourth quarter and fiscal year ended January 31, 2024. "We finished fiscal 2024 on a strong note, highlighted by 25% ARR growth, and marking a historical year for Couchbase," said Matt Cain, Chair, President and CEO of Couchbase. "I ...

SANTA CLARA, Calif., March 1, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced it has granted equity awards under its 2023 Inducement Equity Incentive Plan to new employees who joined Couchbase. On March 1, 2024, Couchbase granted 15 non-executive employees equity awards in the form of service-based restricted stock units ("RSU Awards"), representing the right to receive up to 28,759 shares of Couchbase, Inc. common stock in the aggregate, with fifty ...