Wed, Jun 4, 8:35 PM (19 days ago)
### Couchbase, Inc. (BASE) Q1 2025 Financial Summary **Revenue and Profit Margins:** - **Total Revenue:** $56.5 million, up 10% YoY. - **Subscription Revenue:** $54.8 million, up 12% YoY. - **Gross Profit Margin:** 87.9%, down from 88.9% YoY. - **Net Loss:** $17.7 million, down from $21.0 million YoY. **Cash Flow:** - **Operating Cash Flow:** -$6.8 million, down from $1.6 million YoY. - **Investing Cash Flow:** $1.4 million, down from $3.7 million YoY. - **Financing Cash Flow:** $2.6 million, down from $5.1 million YoY. **Earnings Changes:** - **EPS:** -$0.33, improved from -$0.42 YoY. **Quarterly Performance Discussion:** - **Revenue Growth:** Driven by existing customers, with 99% of the increase attributable to growth from existing customers. - **Cost of Revenue:** Increased by $1.5 million, primarily due to computing infrastructure costs associated with Couchbase Capella. - **Operating Expenses:** Research and development increased by $0.6 million, sales and marketing increased by $0.4 million, and general and administrative decreased by $1.4 million. - **Cash Flow:** Negative operating cash flow primarily due to net loss and changes in operating assets and liabilities. **Trends and Uncertainties:** - **Macroeconomic Conditions:** Longer deal cycles and increased budget scrutiny. - **Future Operations Impact:** Continued investment in growth, potential for further losses and negative cash flows. **Key Metrics:** - **ARR:** $252.1 million, up 21% YoY. - **Customers:** 937 total customers, up from 807 YoY. **Non-GAAP Financial Measures:** - **Non-GAAP Gross Profit Margin:** 88.7%, down from 89.9% YoY. - **Non-GAAP Operating Margin:** -7%, improved from -13% YoY. - **Non-GAAP Net Loss:** $3.0 million, improved from $5.2 million YoY. **Future Outlook:** - **Growth Strategy:** Continued investment in platform, personnel, and infrastructure. - **Risks:** Intense competition, regulatory challenges, and market uncertainties. **Conclusion:** Couchbase, Inc. (BASE) showed positive revenue growth and improved profitability metrics in Q1 2025. However, the company continues to face challenges from macroeconomic conditions and competitive pressures. The focus on investment in growth and innovation will be crucial for future success.