Couchbase Registers 25% Revenue Growth In Q3 Backed By Strong Bookings, Capella Logo Additions; Boosts Outlook

Loading...
Loading...
  • Couchbase, Inc BASE reported third-quarter revenue growth of 25% year-on-year to $38.6 million, beating the consensus of $36.7 million.
  • Non-GAAP EPS loss of $(0.22) beat the consensus loss of $(0.33).
  • Subscription revenue for the quarter was $35.7 million, up 23% Y/Y.
  • Total ARR, as of October 31, was $151.7 million, an increase of 24% Y/Y.
  • Non-GAAP gross margin contracted 30 bps to 88% as costs jumped over 30% Y/Y.
  • Non-GAAP operating margin loss improved from (39)% to (25)%.
  • Couchbase used $(16.3) million in free cash flow and held $177.3 million in cash and equivalents.
  • Remaining performance obligations (RPO) as of October 31 was $159.6 million, an increase of 28% Y/Y.
  • Matt Cain, Chair and CEO, said, "We saw robust bookings growth, meaningful new Capella logo additions, and a rapidly growing pipeline of exciting opportunities across both new and existing customers, and all of this despite a more challenging macroeconomic environment."
  • Outlook: Couchbase sees Q4 revenue of $38.2 million - $38.4 million against the consensus of $38.91 million.
  • Couchbase raised the FY23 revenue forecast to $151.4 million - $151.6 million (consensus $150.13 million), up from the prior $149.5 million - $150.5 million.
  • Price Action: BASE shares closed lower by 4.45% at $13.96 on Monday.
Market News and Data brought to you by Benzinga APIs
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceSmall CapTechBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...