chbase(US:BASE)2022-03-09 23:26Business Overview - Couchbase is positioned as the modern database for enterprise applications, emphasizing its ability to handle both relational and NoSQL aspects [8, 11] - The company highlights the increasing need for modern databases due to the rise of highly interactive applications and the limitations of legacy systems [15, 17] - Couchbase Capella, the Database-as-a-Service offering, combines the platform's strengths with the convenience of a managed service [27] Financial Performance - The company's Annual Recurring Revenue (ARR) reached $133 million, with a subscription revenue growth of 20% [44] - Couchbase has approximately 600 total customers, with 230 customers contributing more than $100,000 in ARR and 26 customers contributing over $1 million in ARR [44] - The company's subscription revenue demonstrates a high percentage of total revenue, exceeding 90%, coupled with a Dollar-Based Net Retention Rate (NRR) of over 115% [44] - The company's revenue for FY22 was $123.5 million [53] Operational Expenses - The company's Non-GAAP operating expenses as a percentage of revenue were 115% for FY22 and 112% for Q4 2021 [61] - Non-GAAP Research and Development (R&D) expenses accounted for 39% of revenue in FY22 and 35% in Q4 2022 [61] - Non-GAAP Sales and Marketing (S&M) expenses represented 69% of revenue in FY22 and 63% in Q4 2022 [61] Future Outlook - The company projects revenue of $147 million for FY23 [62] - The company projects ARR of $162 million for FY23 [62]