chbase(BASE)2025-06-04 20:34Financial Performance - For the three months ended April 30, 2025, Couchbase reported revenue of 51.3 million in the same period of 2024[106]. - Annual recurring revenue (ARR) as of April 30, 2025, was 207.7 million in 2024[106]. - The net loss for the three months ended April 30, 2025, was 21.0 million in the same period of 2024[106]. - Total revenue for the three months ended April 30, 2025, was 51,327,000 in the same period of 2024[129]. - Non-GAAP gross profit for the same period was 46,122,000 in 2024, resulting in a non-GAAP gross margin of 88.7%[129]. - Loss from operations decreased to 22,540,000 in Q2 2024, with a non-GAAP operating loss of 3,017,000 for Q2 2025, improving from 0.06[133]. - Free cash flow for the three months ended April 30, 2025, was 564,000 in the same period of 2024[135]. - Gross profit for the three months ended April 30, 2025, was 54,843,000 in Q2 2025, up from 5.8 million, or 12%, driven primarily by existing customers, with 99% of the increase attributed to this group[153]. Customer Growth - The total number of customers grew to 937 in 2025, up from 807 in 2024, with Couchbase Capella customers increasing to 309 from 236[125]. - The dollar-based net retention rate exceeded 115% in six of the past eight quarters, indicating strong expansion within existing customers[118]. Operating Expenses - Total operating expenses for Q2 2025 were 68,185,000 in Q2 2024, with research and development expenses at 17.8 million, representing 33% of revenue, a decrease from 35% in the prior year[157]. - Sales and marketing expenses increased by 38.2 million, which is 68% of revenue[158]. - General and administrative expenses decreased by 11.2 million, representing 20% of revenue[159]. - Stock-based compensation expense totaled 14,627,000 in Q2 2024[151]. - The company anticipates an increase in research and development expenses as it continues to invest in platform features and functionalities[143]. Cash and Liquidity - As of April 30, 2025, the company had 1.4 million, a decrease from 2.6 million, down from 1.2 million from stock option exercises and 28.0 million, with short-term investments at $113.8 million, indicating a stable liquidity position[180]. Market Conditions and Risks - Macroeconomic conditions have led to longer deal cycles and increased budget scrutiny, impacting business spending[115]. - The company expects revenue to vary based on new subscriptions, customer renewals, and fluctuations in DBaaS consumption[138]. - The company does not expect a 10% change in interest rates to materially affect its results of operations or cash flows due to the short-term nature of its investment portfolio[180]. - A hypothetical 10% change in the value of the U.S. Dollar against other currencies would not have a material impact on the company's financial condition or cash flows as of April 30, 2025[183]. - The company remains exposed to market risks, particularly fluctuations in interest rates and foreign currency exchange rates[179]. Corporate Governance and Compliance - There have been no material changes in contractual obligations and commitments since the fiscal year ended January 31, 2025[175]. - The company has entered into indemnification agreements with directors and officers, with no current claims that could materially affect financial conditions[176]. - There have been no material changes to critical accounting policies and estimates since the last annual report[177]. - The company has not engaged in hedging foreign currency transactions to date, although it may consider this in the future[182].