chbase(US:BASE)2021-12-10 22:27Business Overview - The operational DBMS market is accelerating due to a large, growing Total Addressable Market (TAM) and increasing digital transformation[11] - Couchbase is positioned as a modern database company with a proven enterprise business model, differentiating itself with the strengths of relational databases and the flexibility of NoSQL[11] - Customers are running their business and next-generation applications on Couchbase's modern database platform[11] Technology and Product Strategy - Couchbase is architecturally differentiated, offering a platform that is multi-modal, high-performance, flexible, easy to operate, and runs anywhere[26, 25] - Couchbase offers a portfolio of cloud options, including Couchbase Capella, a fully managed Database as a Service (DBaaS) offering[28, 30] - The company's cloud-native core platform supports Kubernetes on all clouds and is built for microservices[31] Financial Highlights (Q3 F22) - Couchbase achieved $122 million in Annual Recurring Revenue (ARR), representing 20% growth[41] - Subscription revenue accounted for over 90% of total revenue, with a 115% Dollar-Based Net Retention Rate (NRR)[41] - The company has a strong customer base of over 550 total customers, with over 30% being Fortune 100 companies[41] - Gross margins are strong at 88%, with an ARR per customer of $215,000[41] - Couchbase has 218 customers with over $100,000 in ARR[41] Growth Vectors - Couchbase is investing in CB Capella and its 7 platform, as well as go-to-market strategies[41] - The company sees multiple growth vectors supported by secular tailwinds, including further cloud investments and enterprises focusing on digital transformation[62] - The company is focused on a "buy-from" model targeting application developers to drive adoption, complemented by a "sell-to" model targeting enterprise architects[40]