Thu, Sep 5, 8:26 PM (131 days ago)
Couchbase, Inc. reported its financial results for the quarter ending July 31, 2024, showing a revenue increase of 20% year-over-year to $51.6 million, driven primarily by subscription revenue growth. The company incurred a net loss of $19.9 million, slightly less than the $20.7 million loss in the same quarter last year. Subscription revenue constituted 96% of total revenue, with notable contributions from Couchbase Capella, its managed database-as-a-service offering. Operating expenses rose to $66.2 million, reflecting increased investment in research and development and sales and marketing. The gross profit margin improved to 87.5%, attributed to a favorable revenue mix. Cash flow from operations showed a reduction in outflows to $3.3 million compared to $7.7 million in the prior year, supported by improved cash collections. Couchbase's cash and short-term investments totaled $156.1 million at quarter-end, providing liquidity for ongoing growth initiatives. However, the company continues to face macroeconomic uncertainties, competitive pressures, and challenges associated with customer acquisition and retention, which could impact future performance. The firm’s focus remains on expanding its customer base and enhancing product offerings to sustain growth.