Santa Clara, Calif., – March 9, 2022 - Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced financial results for the fourth quarter and fiscal year ended January 31, 2022.

“We finished our first fiscal year as a public company with strong momentum including ARR of $132.9 million, representing 23% growth, as well as record net new ARR of $10.6 million, which was up 65% year over year,” said Matt Cain, President and CEO of Couchbase. “Looking ahead to fiscal 2023, we are excited about the opportunity to increase our momentum through our Capella database as a service offering and expanded go-to-market efforts. Modernization of applications remains a top priority for enterprises as they invest in digital transformation initiatives, and Couchbase continues to be thoughtfully architected to meet the market demand for this ongoing trend.”

Fourth Quarter Fiscal 2022 Financial Highlights

• Les recettes : Total revenue for the quarter was $35.1 million, an increase of 19% year-over-year. Subscription revenue for the quarter was $32.8 million, an increase of 17% year-over-year.
• Recettes annuelles récurrentes (ARR) : Total ARR as of January 31, 2022 was $132.9 million, an increase of 23% year-over-year. See the section titled “Key Business Metrics” below for details.
• Marge brute : Gross margin for the quarter was 88.2%, compared to 89.4% for the fourth quarter of fiscal 2021. Non-GAAP gross margin for the quarter was 88.7%, compared to 89.5% for the fourth quarter of fiscal 2021. See the section titled “Use of Non-GAAP Financial Measures” and the tables titled “Reconciliation of GAAP to Non-GAAP Results” below for details.
• Perte d'exploitation : Loss from operations for the quarter was $12.7 million, compared to $8.0 million for the fourth quarter of fiscal 2021. Non-GAAP operating loss for the quarter was $9.1 million, compared to $6.7 million for the fourth quarter of fiscal 2021.
• Flux de trésorerie : Cash flows used in operating activities for the quarter were $2.7 million, compared to $6.6 million in the fourth quarter of fiscal 2021. Capital expenditures were less than $0.1 million during the quarter, leading to negative free cash flow of $2.7 million, compared to negative free cash flow of $6.6 million in the fourth quarter of fiscal 2021.
• Obligations de performance restantes (RPO) : RPO as of January 31, 2022 was $161.6 million, an increase of 58% year-over-year.

Full Year Fiscal 2022 Financial Highlights

• Les recettes : Total revenue for the year was $123.5 million, an increase of 20% year-over-year. Subscription revenue for the year was $116.3 million, an increase of 20% year-over-year.
• Marge brute : Gross margin for the year was 88.0%, compared to 88.8% for fiscal 2021. Non-GAAP gross margin for the year was 88.4%, compared to 88.9% for fiscal 2021.
• Perte d'exploitation : Loss from operations for the year was $56.3 million, compared to $33.1 million for fiscal 2021. Non-GAAP operating loss for the year was $45.5 million, compared to $28.2 million for fiscal 2021.
• Flux de trésorerie : Cash flows used in operating activities for the year were $41.6 million, compared to $39.2 million in fiscal 2021. Capital expenditures were $0.8 million during the year, leading to negative free cash flow of $42.4 million, compared to negative free cash flow of $42.0 million in fiscal 2021.

Faits marquants récents

• Appointed cloud and database veteran Gopi Duddi as senior vice president of Engineering, overseeing all product development and delivery for the company. Duddi brings nearly 25 years of experience and, as a former general manager at AWS, built and supported some of the cloud service provider’s fastest growing products.
• Announced Couchbase Mobile 3, an edge-ready data platform that empowers mobile developers and edge architects to build fully native, modern applications in the cloud, at the edge and on mobile and IoT devices using the language, frameworks and platform of their choice.
• Granted a U.S. patent for cost-based optimization for document-oriented database queries, making Couchbase the only document database and cloud company to hold a patent for this novel and critical query optimization method.
• Achieved the Amazon Web Services (AWS) Outposts Ready designation, recognizing that Couchbase has demonstrated successful integration with AWS Outposts deployments. This achievement further strengthens Couchbase’s mobile and edge partner ecosystem to provide a superior experience for customers.
• Named one of the top five out of 25 highest-rated public cloud computing companies to work for in a list released by Battery Ventures with data specifically provided by Glassdoor.

Perspectives financières

For the first quarter of fiscal 2023, Couchbase expects:

• Total revenue between $32.5 million and $32.7 million
• Total ARR between $136 million and $138 million
• Non-GAAP operating loss between $16.8 million and $16.6 million

For the full fiscal year 2023, Couchbase expects:

• Total revenue between $146.5 million and $147.5 million
• Total ARR between $160 million and $164 million
• Non-GAAP operating loss between $57.2 million and $56.2 million

Les indications fournies ci-dessus reposent sur plusieurs hypothèses susceptibles de changer et dont beaucoup échappent à notre contrôle. Si les résultats réels diffèrent de ces hypothèses, nos attentes peuvent changer. Il n'y a aucune garantie que nous atteindrons ces résultats.

Couchbase is not able, at this time, to provide GAAP targets for operating income for the first quarter or full year of fiscal 2023 because of the difficulty of estimating certain items excluded from non-GAAP operating loss that cannot be reasonably predicted, such as charges related to stock-based compensation expense. The effect of these excluded items may be significant.

Information sur la conférence téléphonique

Couchbase will host a conference call and webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on Wednesday, March 9, 2022 to discuss its financial results and business highlights. To access this conference call, dial (888) 660-1027 from the United States and Canada or (409) 231-2719 internationally with conference ID: 8395512. The live webcast and a webcast replay of the conference call can be accessed from the investor relations page of Couchbase’s website at investisseurs.couchbase.com.

Utilisation de mesures financières non conformes aux PCGR

Outre les informations financières présentées conformément aux GAAP, nous estimons que certaines mesures financières non GAAP sont utiles aux investisseurs pour évaluer notre performance opérationnelle. Nous utilisons certaines mesures financières non conformes aux PCGR, collectivement, pour évaluer nos activités courantes et à des fins de planification et de prévision internes. Nous pensons que les mesures financières non GAAP, lorsqu'elles sont prises conjointement avec les mesures financières GAAP correspondantes, peuvent être utiles aux investisseurs car elles fournissent une cohérence et une comparabilité avec les performances financières passées et des informations complémentaires significatives concernant nos performances en excluant certains éléments qui peuvent ne pas être représentatifs de nos activités, de nos résultats d'exploitation ou de nos perspectives. Les mesures financières non GAAP sont présentées uniquement à titre d'information complémentaire, ont des limites en tant qu'outils analytiques et ne doivent pas être considérées isolément ou comme un substitut aux informations financières présentées conformément aux GAAP et peuvent être différentes des mesures financières non GAAP portant le même nom utilisées par d'autres sociétés. En outre, d'autres sociétés, y compris des sociétés de notre secteur, peuvent calculer différemment des mesures financières non GAAP intitulées de la même manière ou utiliser d'autres mesures pour évaluer leur performance, ce qui pourrait réduire l'utilité de nos mesures financières non GAAP en tant qu'outils de comparaison. Les investisseurs sont invités à examiner les mesures financières GAAP correspondantes et le rapprochement de ces mesures financières non GAAP avec les mesures financières GAAP les plus directement comparables (fournies dans les tableaux des états financiers inclus dans le présent communiqué de presse), et à ne pas se fier à une seule mesure financière pour évaluer nos activités.

Marge brute non GAAP, marge brute non GAAP, perte d'exploitation non GAAP, marge d'exploitation non GAAP, perte nette non GAAP attribuable aux actionnaires ordinaires et perte nette non GAAP par action attribuable aux actionnaires ordinaires : Nous définissons ces mesures financières non GAAP comme leurs mesures GAAP respectives, à l'exclusion des dépenses liées à la rémunération à base d'actions et des dépenses liées aux litiges. Nous utilisons ces mesures financières non GAAP conjointement avec les mesures GAAP pour évaluer notre performance, y compris dans la préparation de notre budget d'exploitation annuel et de nos prévisions trimestrielles, pour évaluer l'efficacité de nos stratégies commerciales et pour communiquer avec notre conseil d'administration au sujet de notre performance financière.

Flux de trésorerie disponibles : Nous définissons le flux de trésorerie disponible comme la trésorerie utilisée pour les activités d'exploitation moins les achats d'immobilisations corporelles, qui comprennent les coûts capitalisés des logiciels à usage interne. Nous pensons que le flux de trésorerie disponible est un indicateur utile de liquidité qui fournit à notre direction, à notre conseil d'administration et à nos investisseurs des informations sur notre capacité future à générer ou à utiliser des liquidités pour améliorer la solidité de notre bilan et continuer à investir dans nos activités et à poursuivre des initiatives stratégiques potentielles.

Veuillez consulter les tableaux de réconciliation à la fin de ce communiqué de presse pour la réconciliation des résultats GAAP et non-GAAP.

Principaux indicateurs commerciaux

Nous examinons un certain nombre d'indicateurs opérationnels et financiers, y compris l'ARR, pour évaluer notre activité, mesurer notre performance, identifier les tendances affectant notre activité, formuler des plans d'affaires et prendre des décisions stratégiques.

We define ARR as of a given date as the annualized recurring revenue that we would contractually receive from our customers in the month ending 12 months following such date.

Based on historical experience with customers, we assume all contracts will be automatically renewed at the same levels unless we receive notification of non-renewal and are no longer in negotiations prior to the measurement date. ARR excludes revenue from on-demand arrangements. Although we seek to increase ARR as part of our strategy of targeting large enterprise customers, this metric may fluctuate from period to period based on our ability to acquire new customers and expand within our existing customers. We believe that our ARR is an important indicator of the growth and performance of our business.

Déclarations prospectives

This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, quotations of management, the section titled “Financial Outlook” above and statements about Couchbase’s market position, strategies and potential market opportunities. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and, in some cases, can be identified by terms such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “continue,” “could,” “potential,” “remain,” “may,” “might,” “will,” “would” or similar expressions and the negatives of those terms. However, not all forward-looking statements contain these identifying words. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including factors beyond our control, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to: our history of net losses and ability to achieve or maintain profitability in the future; our ability to continue to grow on pace with historical rates; our ability to manage our growth effectively; intense competition and our ability to compete effectively; cost-effectively acquiring new customers or obtaining renewals, upgrades or expansions from our existing customers; the market for our products and services being relatively new and evolving, and our future success depending on the growth and expansion of this market; our ability to innovate in response to changing customer needs, new technologies or other market requirements; our limited operating history, which makes it difficult to predict our future results of operations; the significant fluctuation of our future results of operations and ability to meet the expectations of analysts or investors; our significant reliance on revenue from subscriptions, which may decline and, the recognition of a significant portion of revenue from subscriptions over the term of the relevant subscription period, which means downturns or upturns in sales are not immediately reflected in full in our results of operations; and the impact of the ongoing COVID-19 pandemic. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the SEC that we may file from time to time, including those more fully described in our Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2021. Additional information will be made available in our Annual Report on Form 10-K for the year ended January 31, 2022 that will be filed with the SEC, which should be read in conjunction with this press release and the financial results included herein. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

Contact pour les investisseurs :
Edward Parker
ICR pour Couchbase
IR@couchbase.com

Contact médias :
Michelle Lazzar
Communications Couchbase
CouchbasePR@couchbase.com

Couchbase, Inc.

États consolidés condensés des opérations

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Comprend les charges de rémunération à base d'actions comme suit :

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Bilans consolidés condensés

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États consolidés condensés des flux de trésorerie

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Rapprochement des résultats GAAP et non GAAP

(en milliers, sauf les données par action)

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Le tableau suivant présente un rapprochement entre le flux de trésorerie disponible et le flux de trésorerie net utilisé dans les activités d'exploitation, la mesure GAAP la plus directement comparable, pour chacune des périodes indiquées (en milliers, non audité) :