chbase(BASE)2025-06-03 20:05Revenue and Growth - Total revenue for Q1 FY2026 was $56.5 million, a 10% increase year-over-year, with subscription revenue at $54.8 million, up 12% year-over-year[4] - Annual recurring revenue (ARR) as of April 30, 2025, reached $252.1 million, reflecting a 21% year-over-year increase, or 20% on a constant currency basis[4] - Total revenue for the three months ended April 30, 2025, was $56.523 million, a 10.5% increase from $51.327 million in the same period of 2024[22] - Subscription revenue reached $54.843 million, up from $49.038 million year-over-year, representing an increase of 11.5%[22] - For Q2 FY2026, total revenue is expected to be between $54.4 million and $55.2 million, with total ARR projected between $255.8 million and $258.8 million[6] Profitability and Loss - Loss from operations was $18.8 million, an improvement from $22.5 million in Q1 FY2025, with a non-GAAP operating loss of $4.2 million, down from $6.7 million[4] - The net loss for the quarter was $17.679 million, compared to a net loss of $20.995 million in the prior year, reflecting a 15.5% improvement[22] - Non-GAAP net loss per share improved to $0.06 from $0.10 year-over-year, indicating a reduction in losses[29] - Non-GAAP operating loss guidance for FY2026 is between $15.5 million and $10.5 million[6] Cash Flow and Expenses - Cash flow used in operating activities was $6.8 million, compared to a cash flow of $1.6 million provided in Q1 FY2025, resulting in negative free cash flow of $8.6 million[4] - The company experienced a net cash used in operating activities of $6.783 million, a decline from a net cash provided of $1.559 million in the same quarter of 2024[29] - Total operating expenses for the quarter were $68.510 million, slightly up from $68.185 million in the same quarter of 2024[22] - The company reported a total stock-based compensation expense of $13.384 million, down from $14.627 million in the previous year[22] Margins and Performance Obligations - Gross margin for the quarter was 87.9%, down from 88.9% in Q1 FY2025, while non-GAAP gross margin was 88.7%, compared to 89.9% in the same period[4] - Remaining performance obligations (RPO) as of April 30, 2025, were $239.6 million, a 9% increase year-over-year[4] - The gross profit margin for the quarter was 87.9%, compared to 88.9% in the prior year[28] Product Development and Investment - The company launched Couchbase Edge Server, designed for low latency data access in resource-constrained environments[4] - Continued investment in AI capabilities, including a high-performance vector database for AI agent-based applications[4]