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 ...

```markdown [Financial Performance Summary](index=1&type=section&id=Financial%20Performance%20Summary) [Fourth Quarter Fiscal 2024 Financial Highlights](index=1&type=section&id=Fourth%20Quarter%20Fiscal%202024%20Financial%20Highlights) Couchbase concluded the fourth quarter of fiscal 2024 with strong performance, exceeding guidance on all metrics. Total revenue increased by 20% year-over-year to $50.1 million, driven by a 26% rise in subscription revenue. Annual Recurring Revenue (ARR) grew 25% to $204.2 million. The company demonstrated improved profitability and efficiency, with non-GAAP operating loss narrowing to $4.1 million from $9.9 million in the prior year, and a 46% year-over-year increase in Remaining Performance Obligations (RPO) | Financial Metric | Q4 FY2024 | Q4 FY2023 | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenue | $50.1M | $41.6M | +20% | | Subscription Revenue | $48.1M | $38.1M | +26% | | Total ARR | $204.2M | $163.7M | +25% | | Non-GAAP Gross Margin | 90.4% | 86.3% | +4.1 p.p. | | GAAP Operating Loss | ($22.6M) | ($18.5M) | -22% | | Non-GAAP Operating Loss | ($4.1M) | ($9.9M) | +59% | | RPO | $241.8M | N/A | +46% | - The company's cloud database platform, Capella, has achieved a significant milestone, now representing **11% of total ARR** and is used by over **25% of the customer base**[2](index=2&type=chunk) [Full Year Fiscal 2024 Financial Highlights](index=1&type=section&id=Full%20Year%20Fiscal%202024%20Financial%20Highlights) For the full fiscal year 2024, Couchbase reported total revenue of $180.0 million, a 16% increase year-over-year, with subscription revenue growing 20% to $171.6 million. The company showed progress in operational efficiency, with the non-GAAP operating loss improving to $31.3 million from $41.3 million in fiscal 2023. Free cash flow also improved, with cash usage decreasing from $46.8 million to $31.6 million | Financial Metric | Fiscal 2024 | Fiscal 2023 | YoY Change | | :--- | :--- | :--- | :--- | | Total Revenue | $180.0M | $154.8M | +16% | | Subscription Revenue | $171.6M | $142.9M | +20% | | Non-GAAP Gross Margin | 88.5% | 87.6% | +0.9 p.p. | | GAAP Operating Loss | ($84.5M) | ($69.3M) | -22% | | Non-GAAP Operating Loss | ($31.3M) | ($41.3M) | +24% | | Free Cash Flow | ($31.6M) | ($46.8M) | +32% | [Business and Operational Overview](index=2&type=section&id=Business%20and%20Operational%20Overview) [Recent Business Highlights](index=2&type=section&id=Recent%20Business%20Highlights) Couchbase has significantly advanced its platform capabilities, with a strong focus on AI and developer productivity. Key initiatives include the introduction of vector search for AI-powered applications, expansion of its AI partner ecosystem with LangChain and LlamaIndex, and the general availability of Capella iQ, a natural language coding co-pilot. These enhancements, along with new enterprise features, have earned the company industry recognition, including the Best Cloud Data Management Solution award - Announced vector search as a new feature in Couchbase Capella™ and Couchbase Server to enable AI-powered adaptive applications, optimized to run from the cloud to the edge[7](index=7&type=chunk) - Expanded its AI partner ecosystem by integrating with LangChain and LlamaIndex to boost developer productivity and accelerate the creation of applications using large language models (LLMs)[8](index=8&type=chunk) - Launched the general availability of Capella iQ, a coding co-pilot that allows developers to interact with the database using natural language[9](index=9&type=chunk) - Couchbase Capella was named Best Cloud Data Management Solution at the 2023-2024 Cloud Awards[9](index=9&type=chunk) [Financial Outlook](index=2&type=section&id=Financial%20Outlook) Couchbase provided its financial outlook for the first quarter and the full fiscal year 2025. The company anticipates continued growth in both total revenue and Annual Recurring Revenue (ARR), while managing its non-GAAP operating loss. The guidance reflects confidence in sustained business momentum | Metric | Q1 FY2025 Outlook | Full Year FY2025 Outlook | | :--- | :--- | :--- | | Total Revenue | $48.1 - $48.9 million | $203.0 - $207.0 million | | Total ARR | $206.5 - $209.5 million | $235.5 - $240.5 million | | Non-GAAP Operating Loss | ($8.5) - ($7.5) million | ($27.5) - ($22.5) million | - The company is not providing a GAAP operating loss outlook due to the difficulty of estimating certain excluded items, such as stock-based compensation expense[13](index=13&type=chunk) [Financial Statements](index=7&type=section&id=Financial%20Statements) [Condensed Consolidated Statements of Operations](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) For fiscal year 2024, Couchbase's revenue grew to $180.0 million from $154.8 million in the prior year. The GAAP loss from operations widened to $84.5 million from $69.3 million, influenced by a $5.2 million impairment charge and a significant increase in stock-based compensation. The GAAP net loss for the year was $80.2 million, or ($1.70) per share, compared to a net loss of $68.5 million, or ($1.53) per share, in fiscal 2023 | (in thousands) | Year Ended Jan 31, 2024 | Year Ended Jan 31, 2023 | | :--- | :--- | :--- | | Total revenue | $180,037 | $154,824 | | Gross profit | $157,955 | $134,565 | | Total operating expenses | $242,492 | $203,880 | | Loss from operations | ($84,537) | ($69,315) | | Net loss | ($80,183) | ($68,494) | | Net loss per share | ($1.70) | ($1.53) | - Total stock-based compensation expense nearly doubled, increasing from **$25.8 million in FY2023 to $45.8 million in FY2024**, contributing significantly to the higher net loss[31](index=31&type=chunk) - The company recorded a one-time impairment charge of **$5.2 million** for capitalized internal-use software in Q4 FY2024[30](index=30&type=chunk) [Condensed Consolidated Balance Sheets](index=8&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of January 31, 2024, Couchbase maintained a solid financial position with total assets of $247.8 million. The company's liquidity is strong, with cash, cash equivalents, and short-term investments totaling $153.6 million. Total liabilities stood at $117.3 million, with deferred revenue being the largest component at $84.5 million. Total stockholders' equity was $130.4 million | (in thousands) | As of Jan 31, 2024 | As of Jan 31, 2023 | | :--- | :--- | :--- | | Cash, cash equivalents & short-term investments | $153,632 | $168,302 | | Total current assets | $224,286 | $229,479 | | Total assets | $247,752 | $253,039 | | Total current liabilities | $112,506 | $94,957 | | Total liabilities | $117,331 | $102,775 | | Total stockholders' equity | $130,421 | $150,264 | [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For fiscal year 2024, Couchbase demonstrated improved cash management. Net cash used in operating activities was reduced to $26.9 million, compared to $41.2 million in the prior year. This improvement was primarily driven by better management of working capital and higher non-cash charges like stock-based compensation. Free cash flow, though still negative at $31.6 million, improved significantly from negative $46.8 million in fiscal 2023 | (in thousands) | Year Ended Jan 31, 2024 | Year Ended Jan 31, 2023 | | :--- | :--- | :--- | | Net cash used in operating activities | ($26,893) | ($41,185) | | Net cash provided by (used in) investing activities | $15,426 | ($23,366) | | Net cash provided by financing activities | $12,933 | $9,706 | | Net increase (decrease) in cash | $905 | ($55,242) | - The company's free cash flow improved by **32% year-over-year**, from a usage of **$46.8 million in FY2023 to $31.6 million in FY2024**[6](index=6&type=chunk)[42](index=42&type=chunk) [Supplementary Information](index=4&type=section&id=Supplementary%20Information) [Key Business Metrics](index=5&type=section&id=Key%20Business%20Metrics) Couchbase's primary performance indicator is Annual Recurring Revenue (ARR), which is used to evaluate business growth and trends. ARR represents the annualized recurring revenue from customer contracts, including consumption-based Capella products after their initial year. As of January 31, 2024, ARR reached $204.2 million, demonstrating consistent quarterly growth over the past two years - ARR is defined as the annualized recurring revenue from customer contracts, assuming automatic renewal. For Capella products after the initial year, it is calculated by annualizing the prior 90 days of actual consumption. It excludes on-demand and services revenue[24](index=24&type=chunk) | Date | ARR (in millions) | | :--- | :--- | | Jan 31, 2023 | $163.7 | | Apr 30, 2023 | $172.2 | | Jul 31, 2023 | $180.7 | | Oct 31, 2023 | $188.7 | | Jan 31, 2024 | $204.2 | [Use of Non-GAAP Financial Measures](index=4&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) The company utilizes non-GAAP financial measures to provide investors with a clearer view of its ongoing operational performance. These measures exclude certain non-cash or non-recurring expenses. Key exclusions are stock-based compensation, employer payroll taxes on stock transactions, and restructuring charges. Beginning in Q4 FY2024, the company also started excluding the impairment of capitalized internal-use software - Non-GAAP measures exclude expenses related to: - Stock-based compensation - Employer payroll taxes on employee stock transactions - Restructuring charges - Impairment of capitalized internal-use software[19](index=19&type=chunk) - Starting in Q4 FY2024, the company began excluding impairment of capitalized internal-use software from its non-GAAP results as it is not reflective of ongoing operations[20](index=20&type=chunk) [Reconciliation of GAAP to Non-GAAP Results](index=10&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Results) This section provides detailed reconciliations between GAAP and non-GAAP results. For fiscal year 2024, the non-GAAP operating loss was $31.3 million, a significant improvement from the GAAP operating loss of $84.5 million. The primary adjustments were the exclusion of $45.8 million in stock-based compensation, a $5.2 million software impairment charge, and $2.3 million in employer taxes on stock transactions. Consequently, the non-GAAP net loss per share was ($0.57), compared to the GAAP net loss per share of ($1.70) | Reconciliation of Operating Loss (FY2024, in thousands) | Amount | | :--- | :--- | | GAAP Loss from operations | ($84,537) | | Add: Stock-based compensation expense | $45,773 | | Add: Employer taxes on employee stock transactions | $2,253 | | Add: Impairment of capitalized internal-use software | $5,156 | | Add: Restructuring | $46 | | **Non-GAAP operating loss** | **($31,309)** | | Reconciliation of Net Loss (FY2024, in thousands) | Amount | | :--- | :--- | | GAAP Net loss | ($80,183) | | Add: All non-GAAP adjustments | $53,228 | | **Non-GAAP net loss** | **($26,955)** | [Forward-Looking Statements](index=6&type=section&id=Forward-Looking%20Statements) This section includes a standard safe harbor statement, cautioning that the press release contains forward-looking statements, such as the financial outlook and management's quotes. These statements are based on current assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Key risks mentioned include a history of net losses, competition, and reliance on subscription revenue - The report contains forward-looking statements, including the 'Financial Outlook' section and management quotes, which are not guarantees of future performance[27](index=27&type=chunk) - Key risks identified include a history of net losses, ability to manage growth, intense competition, and significant reliance on subscription revenue[27](index=27&type=chunk) ```

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 ...

Wall Street analysts forecast that Couchbase, Inc. (BASE) will report quarterly loss of $0.14 per share in its upcoming release, pointing to a year-over-year increase of 22.2%. It is anticipated that revenues will amount to $46.56 million, exhibiting an increase of 11.9% compared to the year-ago quarter.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.A ...

Couchbase is the first to announce vector search at the edge, enabling AI applications anywhere Announcing LangChain and LlamaIndex support for greater developer productivity Couchbase's multipurpose database platform reduces architectural complexity to build trustworthy adaptive applications more quickly and easily  SANTA CLARA, Calif., Feb. 29, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today introduced vector search as a new feature in Couchbase Capella™ Dat ...

SANTA CLARA, Calif.,, Feb. 15, 2024 /PRNewswire/ -- Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that it will report financial results for its fourth quarter and full fiscal year ended January 31, 2024 on Tuesday, March 5, 2024 after market close. Couchbase will host a conference call and webcast at 2:00 p.m. Pacific Time (or 5:00 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 U ...

Couchbase, Inc. (NASDAQ:BASE) Q3 2024 Results Conference Call December 6, 2023 5:00 PM ET Company Participants Edward Parker - Head of Investor Relations Matt Cain - Chair, President and Chief Executive Officer Greg Henry - Chief Financial Officer Conference Call Participants Rob Oliver - Baird Sanjit Singh - Morgan Stanley Ittai Kidron - Oppenheimer Matt Hedberg - RBC Capital Markets Jason Ader - William Blair Brad Reback - Stifel Taz Koujalgi - Wedbush Securities Howard Ma - Guggenheim Securities Operator ...