Archives: Press Releases

New Capella Offerings Empower Developers to Build Agentic Applications With Confidence by Giving Them Control Over Data, Simplified Workflows and AI Models Available in One Unified Platform

SANTA CLARA, Calif. – Dec. 2, 2024 – Couchbase, Inc. (NASDAQ: BASE), the developer data platform for critical applications in our AI world, today unveiled Capella AI Services to help enterprises address the growing data challenges of AI development and deployment and streamline how they build secure agentic AI applications at scale. The comprehensive AI Services, including model hosting, automated vectorization, unstructured data preprocessing and AI agent catalog services, allow organizations to prototype, build, test and deploy AI agents while keeping models and data close together. This allows organizations to avoid the excess latencies and high operational costs that application developers often experience when introducing new technology components and workflows. Couchbase empowers teams to safely bring agent-based applications into production by giving developers control over data across the development lifecycle and mitigating security and privacy issues from large language models (LLMs) running outside the organization. 

“As AI dramatically transforms applications, organizations need secure ways to integrate it and must handle the surge of data across diverse formats to build and deploy agentic applications with confidence,” said Matt McDonough, SVP of product and partners at Couchbase. “Couchbase is making this possible by providing a comprehensive AI-powered developer data platform that streamlines retrieval-augmented generation (RAG) pipelines, ensures fast and secure model interactions and enables agent reuse during development and production. We’re helping customers through the broad spectrum of AI advances, from simple vector search to RAG chatbots and sophisticated agentic AI apps, and enabling them to deliver more personalized and contextual experiences while reducing development complexity and operational costs.”

“The proliferation of AI agents is fundamentally transforming both development and operations, creating new data management challenges for enterprises. Organizations must now preserve and analyze vast amounts of data from agent-LLM interactions, including prompts, responses and validation artifacts – all critical for ensuring ongoing accuracy and reliability. They also face the complexity of maintaining agent guardrails against evolving LLM behaviors,” said Carl Olofson, research VP at IDC. “Couchbase Capella and its new AI Services are designed to strategically address these challenges, and provide enterprises the scalable architecture and flexibility needed to handle complex RAG workflows and manage huge volumes of new types of AI data.”

Capella AI Services Equip Developers With the Critical Capabilities and Tools Required to Build and Deploy a New Class of Agent-based Applications

Enterprises adopting AI face growing concerns over data security and privacy, performance and latencies, control and costs, and a host of challenges that hinder progress. These include managing different data types and complex data integration workflows, addressing LLM security and accuracy risks, ensuring fast application response times, and adapting to rapidly evolving AI tools and data platforms. Couchbase Capella AI Services address these challenges to help organizations boost developer velocity:

• • Model Services: Offers managed endpoints for leading LLMs and embedding models, and provides value-added capabilities, such as prompt and conversation caching, guardrails and keyword filtering to support RAG and agentic workflows. With data and AI models within the same organizational boundary, enterprises can more easily meet privacy and latency requirements for enterprise-grade RAG applications, eliminating the need for costly private links or custom solutions.
  • Unstructured Data Services: Extracts, cleans, chunks and transforms unstructured documents into JSON, preparing them for vectorization. It also extracts structured information from complex documents and makes them queryable in Capella. This saves developers time associated with building DIY preprocessing pipelines.
  • Vectorization Services: Automates vectorization and indexing of data stored in Capella. Along with Capella Model and Unstructured Data Services, this helps developers quickly build a RAG pipeline with fewer tools.
  • AI Agent Catalog Services: Accelerates agentic application development by offering a centralized repository for tools, metadata, prompts and audit information for LLM flow, traceability and governance. It also automates discovery of relevant agent tools to answer user questions, and manages guardrails to ensure that agent exchanges are consistent over time. 
  • Capella AI Functions: Enhances developer productivity by enabling AI-driven data analysis directly into application workflows using familiar SQL++ syntax. This accelerates developer productivity by eliminating the need for external tooling, custom coding and managing model deployments. Capella AI Functions include summarization, classification, sentiment analysis and data masking.

Developers require a unified platform to build and manage the emerging class of agent-based applications and need specialized data management tools to handle complex AI workflows and language model interactions effectively and securely. With Capella AI Services now part of Couchbase’s robust developer data platform, customers can streamline RAG pipelines, collect, evaluate and validate agent exchanges, and accelerate time to market for RAG and agentic AI applications.

Couchbase Capella Makes It Simple for Developers to Build

As a leading high-performance enterprise NoSQL data platform for over a decade, Couchbase is empowering developers to build trustworthy, intelligent, mission-critical agentic applications that scale across cloud and edge environments. Couchbase Capella enables developers to accelerate the creation of agent-based AI applications using their existing experience, skills and preferred tools, including SQL++ query language and over a dozen programming languages. Capella streamlines complex AI workflows – from data vectorization and storage to model interactions, validation and analytics. Developers can leverage automated processing, seamlessly integrate with popular AI models and frameworks, and deploy across multiple clouds, all while maintaining complete control over their data security, LLM interactions, agent exchanges, application performance and the user experiences they create. This flexible approach allows teams to build sophisticated AI applications without generating excessive expenses, compromising on their specific requirements or having to learn entirely new tool sets.

“Developer productivity and empowering the development of AI-driven applications anywhere are at the heart of our strategy,” continued McDonough. “By providing a unified platform that supports development from prototype to production, we’re enabling organizations to build and deploy AI applications from cloud to edge that are sophisticated, trustworthy and cost-effective.”

Capella AI Services are available in private preview.

Additional Resources

• Read more about Capella AI Services on the blog.
• Learn about Capella AI Services and sign up for the private preview here. 
• Register for our webcast examining the opportunities and challenges of building AI-powered applications and agents here.

Couchbase Customers Honored for Developing Cutting-Edge Enterprise Applications and Delivering Exceptional User Experiences

SANTA CLARA, Calif. – Nov. 21, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced the winners of the 2024 Couchbase Impact Awards. The awards program recognizes customers who are modernizing operational infrastructure to develop modern, real-time and mission-critical applications.

“The AI era has sparked a new pace of innovation, challenging enterprises to evolve in order to meet consumer demands and maintain their competitive edge. Our award-winning customers are leading this charge, building modern applications on Couchbase that drive business at the edge with real-time capabilities,” said Josh Harbert, senior vice president and chief marketing officer at Couchbase. “The ingenuity from this year’s honorees is a testament to their technological sophistication and commitment to providing exceptional user experiences wherever they occur. In using Capella, Couchbase’s developer data platform, these businesses are able to build and deploy feature-rich applications to engage users and drive their businesses without worrying about performance issues, downtime or unpredictable costs. It’s amazing to see Couchbase in action across a wide array of use cases, from quick-service restaurant operations, powering live captioning to help those with impaired hearing, and sports wagering, to optimizing hotel and flight operations. On behalf of the entire Couchbase team, congratulations to the 2024 Impact Award winners. We’re excited to witness the new innovations they’ll come up with in the future.”

Below are the winners of the 2024 Couchbase Impact Awards:

• PRODATO (based in Nuremberg, Germany)
  • With Couchbase as its central data hub, PRODATO, a leading IT consulting and data management company, was able to quickly create a simple and fast solution for its end customer that required a database to store customer purchase data and receipts.
• Quantic (based in West Chester, Pennsylvania)
  • Quantic, a cloud-based restaurant point-of-sale platform, selected Couchbase Capella for a simple yet powerful way to keep pace with its expanding number of customers, products and features, and achieved 50% faster querying. Capella provides easy scalability along with automatic offline sync capabilities and an always-on experience for restaurant service staff. Capella’s price performance and unique edge capabilities provide Quantic’s customers with a more agile tableside checkout experience and allow their clients’ transaction data to remain synced, even during internet outages.
• Sabre Corporation (based in Southlake,Texas)
  • Couchbase will enable a distributed, always-on transactional system for Sabre Corporation — a leading software and technology company that powers the global travel industry, serving a wide range of travel companies including airlines, hoteliers, travel agencies and other suppliers. Couchbase handles over hundreds of thousands of read transactions and more than 1,000 updates per second. Couchbase’s ability to maintain consistent transaction performance within tens of milliseconds, while offering horizontal scalability across various public cloud regions and cost-effective deployment options, is crucial for meeting product requirements.
• Advanced call captioning phone system (based in Roseville, California) 
  • Couchbase enables this customer to provide real-time captions for the hearing impaired, along with emergency service notifications. This customer combines automatic speech recognition (ASR) technology with its AI software to deliver the best call captioning experience for its users. All data flows through Couchbase, making it a crucial component to their tech stack and customer experience.
• Leading French supermarket chain (based in Paris, France)
  • This customer leverages Couchbase Mobile to help power 25,000 mobile devices across 3,000 stores where Wi-Fi connection is often spotty and unreliable. This allows employees to keep applications up and running to assist customers and provide an overall better shopping experience. 
• Leading online sports gambling company (based in New York City, New York)
  • This customer uses Couchbase Capella to power customer personalization and content management for its Cross Product Promotions platform. Capella has enabled this customer to scale its patronage faster and maintain peak performance while handling large volumes of unpredictable traffic with no downtime during large sporting events.

Additional Resources

• Read more about Couchbase Impact Award winners in the company blog post 
• Learn more about Couchbase customer success stories

Santa Clara, Calif., – September 4, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its second quarter ended July 31, 2024.

“I’m pleased with our hard work and execution in the quarter,” said Matt Cain, Chair, President and CEO of Couchbase. “We delivered revenue and operating loss results that exceeded the high end of our outlook, generated strong new business and new logos, and saw a meaningful increase in our Capella mix. I remain highly confident in our outlook and ability to achieve our objectives in fiscal 2025.”

Second Quarter Fiscal 2025 Financial Highlights

• Revenue: Total revenue for the quarter was $51.6 million, an increase of 20% year-over-year. Subscription revenue for the quarter was $49.3 million, an increase of 20% year-over-year.
• Annual recurring revenue (ARR): Total ARR as of July 31, 2024 was $214.0 million, an increase of 18% year-over-year, or 19% on a constant currency basis. See the section titled “Key Business Metrics” below for details.
• Gross margin: Gross margin for the quarter was 87.5%, compared to 86.3% for the second quarter of fiscal 2024. Non-GAAP gross margin for the quarter was 88.3%, compared to 87.2% for the second quarter of fiscal 2024. See the section titled “Use of Non-GAAP Financial Measures” and the tables titled “Reconciliation of GAAP to Non-GAAP Results” below for details.
• Loss from operations: Loss from operations for the quarter was $21.0 million, compared to $21.9 million for the second quarter of fiscal 2024. Non-GAAP operating loss for the quarter was $4.1 million, compared to $9.2 million for the second quarter of fiscal 2024.
• Cash flow: Cash flow used in operating activities for the quarter was $4.9 million, compared to cash flow used in operating activities of $0.5 million in the second quarter of fiscal 2024. Capital expenditures were $1.0 million during the quarter, leading to negative free cash flow of $5.9 million, compared to negative free cash flow of $1.6 million in the second quarter of fiscal 2024.
• Remaining performance obligations (RPO): RPO as of July 31, 2024 was $215.8 million, an increase of 27% year-over-year.

Recent Business Highlights

• Announced the general availability of Capella Columnar, an exciting milestone for Couchbase with strong uptake and positive feedback from early adopters across various industries. Columnar helps organizations streamline the development of adaptive applications by enabling real-time data analysis alongside operational workloads within a single database platform.
• Announced the general availability of Couchbase Mobile with vector search, which makes it possible for businesses to offer similarity and hybrid search in their applications on mobile and at the edge. With Capella Columnar and vector search capabilities in one cloud database platform, Couchbase helps businesses reduce cost and simplify operations, while enabling developers to create trustworthy adaptive applications.
• Introduced Capella Free Tier, a workspace which empowers developers to work faster by enabling the development of next generation, production-ready applications on Couchbase. Developers now have the access and convenience they need to build on applications without worrying about an end date.
• Announced the appointment of Josh Harbert as senior vice president and chief marketing officer. In this role, Harbert will lead all marketing and sales development efforts, driving brand momentum, demand creation, market leadership and growth initiatives. He brings over 20 years’ experience in the enterprise software industry and a proven track record of accelerating growth and achieving strategic outcomes in both private and public companies.

Financial Outlook

For the third quarter and full year of fiscal 2025, Couchbase expects:

 

The guidance provided above is based on several assumptions that are subject to change and many of which are outside our control. If actual results vary from these assumptions, our expectations may change. There can be no assurance that we will achieve these results.

Couchbase is not able, at this time, to provide GAAP targets for operating loss for the third quarter or full year of fiscal 2025 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.

Conference Call Information

Couchbase will host a live webcast at 1:30 p.m. Pacific Time (or 4:30 p.m. Eastern Time) on Wednesday, September 4, 2024, to discuss its financial results and business highlights. The conference call can be accessed by dialing 877-407-8029 from the United States, or +1 201-689-8029 from international locations. The live webcast and a webcast replay can be accessed from the investor relations page of Couchbase’s website at investors.couchbase.com.

About Couchbase

Modern customer experiences need a flexible database platform that can power applications spanning from cloud to edge and everything in between. Couchbase’s mission is to simplify how developers and architects develop, deploy and run modern applications wherever they are. We have reimagined the database with our fast, flexible and affordable cloud database platform Couchbase Capella, allowing organizations to quickly build applications that deliver premium experiences to their customers – all with best-in-class price performance. 30% of the Fortune 100 trust Couchbase to power their modern applications. For more information, visit www.couchbase.com and follow us on X (formerly Twitter) @couchbase.

Couchbase has used, and intends to continue using, its investor relations website and the corporate blog at blog.couchbase.com to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the corporate blog in addition to following our press releases, SEC filings and public conference calls and webcasts.

Use of Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, we believe certain non-GAAP financial measures are useful to investors in evaluating our operating performance. We use certain non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. Non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures (provided in the financial statement tables included in this press release), and not to rely on any single financial measure to evaluate our business.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss and non-GAAP net loss per share: We define these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense, employer payroll taxes on employee stock transactions, restructuring charges and impairment of capitalized internal-use software. We use these non-GAAP financial measures in conjunction with GAAP measures to assess our performance, including in the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance.

For the fourth quarter of fiscal 2024, we excluded the impairment of capitalized internal-use software, a non-cash operating expense, from our non-GAAP results as it is not reflective of ongoing operating results. This impairment charge related to certain previously capitalized internal-use software that we determined would no longer be placed into service. Prior period non-GAAP financial measures have not been adjusted to reflect this change as we did not incur impairment of capitalized internal-use software in any prior period presented.

Free cash flow: We define free cash flow as cash used in operating activities less additions to property and equipment, which includes capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives.

Please see the reconciliation tables at the end of this press release for the reconciliation of GAAP and non-GAAP results.

Key Business Metrics

We review a number of operating and financial metrics, including ARR, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions.

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 renewed at the same levels unless we receive notification of non-renewal and are no longer in negotiations prior to the measurement date. For Capella products, ARR in a customer’s initial year is calculated as the greater of: (i) initial year contract revenue as described above or (ii) annualized prior 90 days of actual consumption; and ARR for subsequent years is calculated with method (ii). ARR excludes services revenue.

Prior to fiscal 2025, ARR excluded on-demand revenue and, for Capella products in a customer’s initial year, ARR was calculated solely on the basis of initial year contract revenue. The reason for these changes is to better reflect ARR where usage rates or timing of purchases may be uneven and to better align with how ARR is used to measure the performance of the business. ARR for prior periods has not been adjusted to reflect this change as it is not material to any period previously presented.

ARR should be viewed independently of revenue, and does not represent our revenue under GAAP on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal dates. ARR is not intended to be a replacement for forecasts of revenue. 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, expand within our existing customers and consumption dynamics. We believe that ARR is an important indicator of the growth and performance of our business.

We also attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates within the current period. We calculate constant currency growth rates by applying the applicable prior period exchange rates to current period results.

 

Forward-Looking Statements

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 highly competitive 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, including new capabilities, programs and partnerships and their impact on our customers and our business; 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 geopolitical and macroeconomic factors. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the Securities and Exchange Commission that we may file from time to time, including those more fully described in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2024 that will be filed with the Securities and Exchange Commission, 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.

Investor Contact:

Edward Parker
ICR for Couchbase
IR@couchbase.com

Media Contact:

Amber Winans
Bhava Communications for Couchbase
CouchbasePR@couchbase.com

 

Couchbase, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023
Revenue:
License	$5,242		$4,798		$12,101		$9,741
Support and other	44,051		36,156		86,230		69,755
Total subscription revenue	49,293		40,954		98,331		79,496
Services	2,296		2,185		4,585		4,639
Total revenue	51,589		43,139		102,916		84,135
Cost of revenue:
Subscription(1)	4,455		3,845		8,412		7,518
Services(1)	2,008		2,064		3,733		4,313
Total cost of revenue	6,463		5,909		12,145		11,831
Gross profit	45,126		37,230		90,771		72,304
Operating expenses:
Research and development(1)	17,370		16,292		35,217		31,675
Sales and marketing(1)	36,168		32,348		73,923		64,901
General and administrative(1)	12,636		10,459		25,219		20,084
Restructuring(1)	—		—		—		46
Total operating expenses	66,174		59,099		134,359		116,706
Loss from operations	(21,048)		(21,869)		(43,588)		(44,402)
Interest expense	(29)		(18)		(29)		(43)
Other income, net	1,741		1,255		3,272		2,688
Loss before income taxes	(19,336)		(20,632)		(40,345)		(41,757)
Provision for income taxes	559		19		545		769
Net loss	$(19,895)		$(20,651)		$(40,890)		$(42,526)
Net loss per share, basic and diluted	$(0.39)		$(0.44)		$(0.81)		$(0.92)
Weighted-average shares used in computing net loss per share, basic and diluted	50,822		46,714		50,311		46,285

_______________________________

^{(1) Includes stock-based compensation expense as follows:}

	Three Months Ended July 31,				Six Months Ended July 31,
	2024		2023		2024		2023
Cost of revenue—subscription	$301		$236		$567		$429
Cost of revenue—services	109		149		250		294
Research and development	4,214		3,614		8,207		6,382
Sales and marketing	6,162		4,032		11,385		7,273
General and administrative	5,370		4,086		10,374		7,014
Restructuring	—		—		—		1
Total stock-based compensation expense	$16,156		$12,117		$30,783		$21,393

 

Couchbase, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)

	As of July 31, 2024	As of January 31, 2024
Assets
Current assets
Cash and cash equivalents	$62,607	$41,351
Short-term investments	93,526	112,281
Accounts receivable, net	31,263	44,848
Deferred commissions	13,187	15,421
Prepaid expenses and other current assets	10,092	10,385
Total current assets	210,675	224,286
Property and equipment, net	7,053	5,327
Operating lease right-of-use assets	3,497	4,848
Deferred commissions, noncurrent	13,603	11,400
Other assets	1,119	1,891
Total assets	$235,947	$247,752
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$5,031	$4,865
Accrued compensation and benefits	14,123	18,116
Other accrued expenses	3,373	4,581
Operating lease liabilities	2,670	3,208
Deferred revenue	81,906	81,736
Total current liabilities	107,103	112,506
Operating lease liabilities, noncurrent	1,170	2,078
Deferred revenue, noncurrent	1,031	2,747
Total liabilities	109,304	117,331
Stockholders’ equity
Preferred stock	—	—
Common stock	—	—
Additional paid-in capital	658,165	621,024
Accumulated other comprehensive income	27	56
Accumulated deficit	(531,549)	(490,659)
Total stockholders’ equity	126,643	130,421
Total liabilities and stockholders’ equity	$235,947	$247,752

 

Couchbase, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

	Three Months Ended July 31,		Six Months Ended July 31,
	2024	2023	2024	2023
Cash flows from operating activities
Net loss	$(19,895)	$(20,651)	$(40,890)	$(42,526)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	363	745	763	1,635
Stock-based compensation, net of amounts capitalized	16,156	12,117	30,783	21,393
Amortization of deferred commissions	4,184	4,702	8,280	9,242
Non-cash lease expense	765	776	1,530	1,548
Foreign currency transaction losses (gains)	8	249	291	165
Other	(589)	(1,030)	(1,413)	(1,776)
Changes in operating assets and liabilities
Accounts receivable	3,130	9,811	13,295	7,537
Deferred commissions	(5,179)	(4,322)	(8,249)	(9,146)
Prepaid expenses and other assets	412	(1,523)	443	(118)
Accounts payable	938	(3,713)	146	1,745
Accrued compensation and benefits	5,188	2,306	(3,991)	(1,754)
Other Accrued Expenses	(294)	(615)	(1,107)	(1,871)
Operating lease liabilities	(782)	(897)	(1,625)	(1,723)
Deferred revenue	(9,255)	1,526	(1,547)	7,949
Net cash used in operating activities	(4,850)	(519)	(3,291)	(7,700)
Cash flows from investing activities
Purchases of short-term investments	(18,351)	(56,494)	(37,805)	(64,315)
Maturities of short-term investments	34,000	50,697	58,144	70,120
Additions to property and equipment	(1,067)	(1,071)	(2,062)	(2,359)
Net cash provided by (used in) investing activities	14,582	(6,868)	18,277	3,446
Cash flows from financing activities
Proceeds from exercise of stock options	842	2,733	4,136	4,650
Proceeds from issuance of common stock under ESPP	—	—	1,795	847
Net cash provided by financing activities	842	2,733	5,931	5,497
Effect of exchange rate changes on cash, cash equivalents and restricted cash	58	(149)	(204)	(252)
Net increase in cash, cash equivalents and restricted cash	10,632	(4,803)	20,713	991
Cash, cash equivalents, and restricted cash at beginning of period	51,975	46,783	41,894	40,989
Cash, cash equivalents, and restricted cash at end of period	$62,607	$41,980	$62,607	$41,980
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown above:
Cash and cash equivalents	$62,607	$41,437	$62,607	$41,437
Restricted cash included in other assets	—	543	—	543
Total cash, cash equivalents and restricted cash	$62,607	$41,980	$62,607	$41,980

 

Couchbase, Inc.
Reconciliation of GAAP to Non-GAAP Results
(in thousands, except per share data)
(unaudited)

	Three Months Ended July 31,		Six Months Ended July 31,
	2024	2023	2024	2023
Reconciliation of GAAP gross profit to non-GAAP gross profit:
Total revenue	$51,589	$43,139	$102,916	$84,135
Gross profit	$45,126	$37,230	$90,771	$72,304
Add: Stock-based compensation expense	410	385	817	723
Add: Employer taxes on employee stock transactions	28	21	98	31
Non-GAAP gross profit	$45,564	$37,636	$91,686	$73,058
Gross margin	87.5 %	86.3 %	88.2 %	85.9 %
Non-GAAP gross margin	88.3 %	87.2 %	89.1 %	86.8 %
	Three Months Ended July 31,		Six Months Ended July 31,
	2024	2023	2024	2023
Reconciliation of GAAP operating expenses to non-GAAP operating expenses:
GAAP research and development	$17,370	$16,292	$35,217	$31,675
Less: Stock-based compensation expense	(4,214)	(3,614)	(8,207)	(6,382)
Less: Employer taxes on employee stock transactions	(170)	(123)	(479)	(231)
Non-GAAP research and development	$12,986	$12,555	$26,531	$25,062
GAAP sales and marketing	$36,168	$32,348	$73,923	$64,901
Less: Stock-based compensation expense	(6,162)	(4,032)	(11,385)	(7,273)
Less: Employer taxes on employee stock transactions	(421)	(330)	(1,103)	(450)
Non-GAAP sales and marketing	$29,585	$27,986	$61,435	$57,178
GAAP general and administrative	$12,636	$10,459	$25,219	$20,084
Less: Stock-based compensation expense	(5,370)	(4,086)	(10,374)	(7,014)
Less: Employer taxes on employee stock transactions	(172)	(59)	(327)	(88)
Non-GAAP general and administrative	$7,094	$6,314	$14,518	$12,982
	Three Months Ended July 31,		Six Months Ended July 31,
	2024	2023	2024	2023
Reconciliation of GAAP operating loss to non-GAAP operating loss:
Total revenue	$51,589	$43,139	$102,916	$84,135
Loss from operations	$(21,048)	$(21,869)	$(43,588)	$(44,402)
Add: Stock-based compensation expense	16,156	12,117	30,783	21,392
Add: Employer taxes on employee stock transactions	791	533	2,007	800
Add: Restructuring(2)	—	—	—	46
Non-GAAP operating loss	$(4,101)	$(9,219)	$(10,798)	$(22,164)
Operating margin	(41)%	(51)%	(42)%	(53)%
Non-GAAP operating margin	(8)%	(21)%	(10)%	(26)%
	Three Months Ended July 31,		Six Months Ended July 31,
	2024	2023	2024	2023
Reconciliation of GAAP net loss to non-GAAP net loss:
Net loss	$(19,895)	$(20,651)	$(40,890)	$(42,526)
Add: Stock-based compensation expense	16,156	12,117	30,783	21,392
Add: Employer taxes on employee stock transactions	791	533	2,007	800
Add: Restructuring(2)	—	—	—	46
Non-GAAP net loss	$(2,948)	$(8,001)	$(8,100)	$(20,288)
GAAP net loss per share	$(0.39)	$(0.44)	$(0.81)	$(0.92)
Non-GAAP net loss per share	$(0.06)	$(0.17)	$(0.16)	$(0.44)
Weighted average shares outstanding, basic and diluted	50,822	46,714	50,311	46,285

_______________________________

 

^{(2)For the six months ended July 31, 2023, an immaterial amount of stock-based compensation expense related to restructuring charges was included in the restructuring expense line.}

The following table presents a reconciliation of free cash flow to net cash provided by (used in) operating activities, the most directly comparable GAAP measure, for each of the periods indicated (in thousands, unaudited):

	Three Months Ended July 31,		Six Months Ended July 31,
	2024	2023	2024	2023
Net cash used in operating activities	$(4,850)	$(519)	$(3,291)	$(7,700)
Less: Additions to property and equipment	(1,067)	(1,071)	(2,062)	(2,359)
Free cash flow	$(5,917)	$(1,590)	$(5,353)	$(10,059)
Net cash provided by (used in) investing activities	$14,582	$(6,868)	$18,277	$3,446
Net cash provided by financing activities	$842	$2,733	$5,931	$5,497

 

Couchbase, Inc.
Key Business Metrics
(in millions)
(unaudited)

	Oct. 31,	Jan. 31,	April 30,	July 31,	Oct. 31,	Jan. 31,	April 30,	July 31,
	2022	2023	2023	2023	2023	2024	2024	2024
Annual Recurring Revenue	$151.7	$163.7	$172.2	$180.7	$188.7	$204.2	$207.7	$214.0

Santa Clara, Calif., – June 5, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its first quarter ended April 30, 2024.

“We grew ARR by 21% year-over-year, continued to increase our Capella mix, and made meaningful progress in our efforts to improve our operational rigor and efficiency,” said Matt Cain, Chair, President and CEO of Couchbase. “I’m particularly pleased that we delivered revenue and operating loss results that exceeded our outlook and delivered our first quarter of free cash flow positivity. I remain confident in our strategy and ability to achieve our objectives in fiscal 2025.”

First Quarter Fiscal 2025 Financial Highlights

• Revenue: Total revenue for the quarter was $51.3 million, an increase of 25% year-over-year. Subscription revenue for the quarter was $49.0 million, an increase of 27% year-over-year.
• Annual recurring revenue (ARR): Total ARR as of April 30, 2024 was $207.7 million, an increase of 21% year-over-year as reported and on a constant currency basis. See the section titled “Key Business Metrics” below for details.
• Gross margin: Gross margin for the quarter was 88.9%, compared to 85.6% for the first quarter of fiscal 2024. Non-GAAP gross margin for the quarter was 89.9%, compared to 86.4% for the first quarter of fiscal 2024. See the section titled “Use of Non-GAAP Financial Measures” and the tables titled “Reconciliation of GAAP to Non-GAAP Results” below for details.
• Loss from operations: Loss from operations for the quarter was $22.5 million, compared to $22.5 million for the first quarter of fiscal 2024. Non-GAAP operating loss for the quarter was $6.7 million, compared to $12.9 million for the first quarter of fiscal 2024.
• Cash flow: Cash flow provided by operating activities for the quarter was $1.6 million, compared to cash flow used in operating activities of $7.2 million in the first quarter of fiscal 2024. Capital expenditures were $1.0 million during the quarter, leading to free cash flow of $0.6 million, compared to negative free cash flow of $8.5 million in the first quarter of fiscal 2024.
• Remaining performance obligations (RPO): RPO as of April 30, 2024 was $220.0 million, an increase of 33% year-over-year.

Recent Business Highlights

• Delivered the general availability of vector search as a feature in Couchbase Capella and the Enterprise Edition of Couchbase Server to help businesses bring to market a new class of AI-powered adaptive applications that engage users in a hyper-personalized and contextualized way. Couchbase now supports retrieval-augmented generation (RAG) techniques in the cloud and the data center, with mobile and edge in a public beta.
• Announced the appointment of Julie Irish as Couchbase’s first Chief Information Officer. In this role, Irish will lead the global IT and security team and set the strategy for systems and IT to position Couchbase’s internal infrastructure for future growth and effectiveness in alignment with the company’s key business objectives.
• Announced intent to participate in the Google Cloud Ready Distributed Cloud program, a new program that Google announced at Google Cloud Next. The new program is designed to validate partner solutions on Google Distributed Cloud (GDC), Google’s AI-ready modern infrastructure that customers run on-premises at the edge. It allows customers to quickly find and deploy solutions that have been vetted by Google specifically for running on GDC. Through the program, Couchbase will become a powerful data storage and processing option for customers on GDC, providing a scalable, flexible multi-purpose database platform running locally on standardized Google Cloud infrastructure.
• Introduced the Google Cloud Couchbase connector as part of Google Application Integration Services. The Google Cloud Couchbase connector provides a direct conduit between Couchbase Capella and Google Cloud services, allowing developers to connect to and work directly with services such as Vertex AI, making it easy to develop data-driven AI powered applications.
• Introduced the Couchbase Docs chatbot which we built on Amazon Web Services (AWS) and is powered by Amazon Bedrock for the large language model. The chatbot is the latest example of our commitment to enhancing user experience with AI.

Financial Outlook

For the second quarter and full year of fiscal 2025, Couchbase expects:

 

The guidance provided above is based on several assumptions that are subject to change and many of which are outside our control. If actual results vary from these assumptions, our expectations may change. There can be no assurance that we will achieve these results.

Couchbase is not able, at this time, to provide GAAP targets for operating loss for the second quarter or full year of fiscal 2025 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.

Conference Call Information

Couchbase will host a live webcast at 1:30 p.m. Pacific Time (or 4:30 p.m. Eastern Time) on Wednesday, June 5, 2024, to discuss its financial results and business highlights. The conference call can be accessed by dialing 877-407-8029 from the United States, or +1 201-689-8029 from international locations. The live webcast and a webcast replay can be accessed from the investor relations page of Couchbase’s website at investors.couchbase.com.

About Couchbase

Modern customer experiences need a flexible database platform that can power applications spanning from cloud to edge and everything in between. Couchbase’s mission is to simplify how developers and architects develop, deploy and run modern applications wherever they are. We have reimagined the database with our fast, flexible and affordable cloud database platform Couchbase Capella, allowing organizations to quickly build applications that deliver premium experiences to their customers – all with best-in-class price performance. More than 30% of the Fortune 100 trust Couchbase to power their modern applications. For more information, visit www.couchbase.com and follow us on X (formerly Twitter) @couchbase.

Couchbase has used, and intends to continue using, its investor relations website and the corporate blog at blog.couchbase.com to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the corporate blog in addition to following our press releases, SEC filings and public conference calls and webcasts.

Use of Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, we believe certain non-GAAP financial measures are useful to investors in evaluating our operating performance. We use certain non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. Non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures (provided in the financial statement tables included in this press release), and not to rely on any single financial measure to evaluate our business.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss and non-GAAP net loss per share: We define these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense, employer payroll taxes on employee stock transactions, restructuring charges and impairment of capitalized internal-use software. We use these non-GAAP financial measures in conjunction with GAAP measures to assess our performance, including in the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance.

Beginning with the fourth quarter of fiscal 2024, we have excluded the impairment of capitalized internal-use software, a non-cash operating expense, from our non-GAAP results as it is not reflective of ongoing operating results. This impairment charge relates to certain previously capitalized internal-use software that we determined would no longer be placed into service. Prior period non-GAAP financial measures have not been adjusted to reflect this change as we did not incur impairment of capitalized internal-use software in any prior period presented.

Free cash flow: We define free cash flow as cash used in operating activities less additions to property and equipment, which includes capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives.

Please see the reconciliation tables at the end of this press release for the reconciliation of GAAP and non-GAAP results.

Key Business Metrics

We review a number of operating and financial metrics, including ARR, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions.

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 renewed at the same levels unless we receive notification of non-renewal and are no longer in negotiations prior to the measurement date. For Capella products, ARR in a customer’s initial year is calculated as the greater of: (i) initial year contract revenue as described above or (ii) annualized prior 90 days of actual consumption; and ARR for subsequent years is calculated with method (ii). ARR excludes services revenue.

Prior to fiscal 2025, ARR excluded on-demand revenue and, for Capella products in a customer’s initial year, ARR was calculated solely on the basis of initial year contract revenue. The reason for these changes is to better reflect ARR where usage rates or timing of purchases may be uneven and to better align with how ARR is used to measure the performance of the business. ARR for prior periods has not been adjusted to reflect this change as it is not material to any period previously presented.

ARR should be viewed independently of revenue, and does not represent our revenue under GAAP on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal dates. ARR is not intended to be a replacement for forecasts of revenue. 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, expand within our existing customers and consumption dynamics. We believe that ARR is an important indicator of the growth and performance of our business.

We also attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates within the current period. We calculate constant currency growth rates by applying the applicable prior period exchange rates to current period results.

Forward-Looking Statements

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, including new capabilities, programs and partnerships and their impact on our customers and our business; 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 geopolitical and macroeconomic factors. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the Securities and Exchange Commission that we may file from time to time, including those more fully described in our Annual Report on Form 10-K for the fiscal year ended January 31, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2024 that will be filed with the Securities and Exchange Commission, 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.

Investor Contact:

Edward Parker
ICR for Couchbase
IR@couchbase.com

Media Contact:

Amber Winans
Bhava Communications for Couchbase
CouchbasePR@couchbase.com

 

Couchbase, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

 

Couchbase, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)

 

Couchbase, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

 

Couchbase, Inc.
Reconciliation of GAAP to Non-GAAP Results
(in thousands, except per share data)
(unaudited)

 

Couchbase, Inc.
Key Business Metrics
(in millions)
(unaudited)

Global Research Shows More Than Half of Enterprises Need Significant Data Management Investment, and Over a Quarter Are Diverting IT Budgets to Meet GenAI Goals

SANTA CLARA, CALIF. – May 6, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today released the findings from its seventh annual survey of global IT leaders. The study of 500 senior IT decision makers found that investment in IT modernization is set to increase by 27% in 2024, as enterprises look to take advantage of new technologies, such as AI and edge computing, while meeting ever-increasing productivity demands. There is a clear demand for modernization and tech investment: 59% are worried their organizations’ ability to manage data won’t meet generative AI‘s (GenAI) demands without significant investment. With the right approach to this investment, enterprises will be better prepared to overcome productivity challenges and satisfy end users who demand continuously improving experiences.

Enterprises plan to spend an average of $35.5 million on IT modernization in 2024. More than a third of that will be on AI, with the average enterprise investing over $21 million on the technology in 2023-24, and $6.7 million on GenAI specifically. The drivers for this are clear: rapidly prototyping and testing new ideas, making employees more efficient, and identifying and capitalizing on new business trends. Yet enterprises recognize there are challenges ahead — from ensuring AI can be used effectively and safely, to having sufficient compute power and data center infrastructure in place. 

“Enterprises have entered the AI age, but so far are only scratching the surface,” said Matt McDonough, SVP of product and partners at Couchbase. “Almost every enterprise we surveyed has specific goals to use GenAI in 2024. If used correctly, this technology will be key to managing the challenges facing organizations. From keeping pace with end-user expectations for adaptable applications, to meeting ever-accelerating productivity demands, GenAI-powered applications can provide the agility and productivity enterprises need. Enterprises must be certain that their data architecture can cope with GenAI’s demands, as without high-speed access to accurate, tightly managed data it can easily guide individuals and organizations down the wrong path.”

Key findings include:

• Businesses are unprepared for GenAI’s data demands: 54% do not have all the elements of a data strategy suitable for GenAI in place. Only 18% of enterprises have a vector database that can store, manage and index vector data efficiently. Enabling capabilities such as control over data storage, access and use; the ability to access, share and use data in real time; the ability to use vector search to improve GenAI performance; and a consolidated database infrastructure to prevent applications from accessing multiple versions of data will be critical to building a strategy that meets GenAI’s data demands. 

• Reliance on legacy technology is stalling modernization: Despite increased investment in modernization, factors such as a reliance on legacy technology that cannot meet new digital requirements is either causing projects to fail, suffer delays, be scaled back or be prevented from ever happening. The result is an average $4 million wasted investment per year, and an 18-week delay on strategic projects. 

• Targeted spending: Respondents are aware of how investment can help their GenAI capabilities. Almost three quarters (73%) are increasing investment in AI tools to help developers work more effectively and create new GenAI applications faster, while 65% say edge computing will be critical for enabling new AI applications — by reducing latency and placing data and computing power together. 

• The dangers of rushing into AI: 64% of respondents believed most organizations have rushed to adopt GenAI without understanding what’s needed to use it effectively and safely. Worryingly, this may have been achieved by weakening other areas — 26% of enterprises diverted spending from other areas to meet AI objectives, most often from security and IT support and maintenance. 

• Meeting the productivity challenge: 71% of IT departments are under growing pressure to do more with less. On average, enterprises need to increase productivity by 33% year-on-year simply to remain competitive. This could explain why 98% of respondents have specific goals to use GenAI in 2024.

• Investing in infrastructure: 60% of respondents are worried about whether their organization has sufficient compute power and data center infrastructure to support GenAI, while 61% say their corporate social responsibility and environmental responsibilities mean they cannot fully adopt GenAI unless based on more efficient infrastructure. Some respondents may be unaware of potential solutions — 66% believe they would need to invest in multiple databases to get all of the necessary capabilities to support GenAI, despite the existence of solutions that support all multipurpose access needs.

• Adaptability is key to meeting end-user demands: 61% of enterprises are under pressure to continually deliver improved experiences for end users, with the average consumer-facing application falling behind expectations in 19 months, and the average employee-facing application in 20. To counteract this, 45% of respondents say adaptability — the ability to change what the application offers the user as needed — will be the most essential attribute for applications. 

“Investing in the right data management and infrastructure architecture will help unlock GenAI’s transformative potential,” continued McDonough. “For instance, organizations don’t need vast, complex ‘jack of all trades’ applications to improve productivity and meet expectations, nor do they need multiple, costly databases to meet their needs. An adaptive application that can use GenAI to enhance a specific end-user experience will be equally effective while also having a much faster time to market. And a modern multipurpose database with all necessary functionalities will help keep architectures and costs as streamlined as possible.”

Read the full Couchbase report here and the blog here.

Additional resources

• To learn more about Couchbase for AI-powered applications, including Capella iQ co-pilot and vector search, click here 
• To learn more about how Couchbase Capella helps organizations modernize, click here 
• To read about how Couchbase empowers organizations to build adaptive applications, click here 

ISTANBUL – April 19, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that AGRA Fintech, a provider of technology-oriented financial solutions, is leveraging Couchbase to optimize data management and power modern applications.

“We decided to adopt Couchbase in all development and test environments. Subsequently, we were able to accelerate our development and testing environments by approximately 50%,” said Engin Arif Yılmaztürk, technology unit manager at AGRA Fintech. “As a result of our evaluations in performance, useability and other factors, we realized that Couchbase is ahead of other solutions. The power of a NoSQL platform with the ease of use with SQL++ query language support made Couchbase the preferred solution for our data model.”  

Operating in financial technology (fintech) and regulatory technology (regtech), AGRA Fintech offers a wide range of services, including e-ledger, trial balance, declaration, e-invoice and e-waybill applications. The data processed by AGRA Fintech, especially e-ledger and ERP data, results in massive workloads for the company. The company’s data processing load analyzes a large volume of financial data spanning at least three years. These challenges drove AGRA Fintech to look for a solution that simplifies data processing and analysis, and can integrate with a broad technology ecosystem.

With the flexibility, high performance and massive scalability of Couchbase’s database platform, developers are able to speed up time to market. In addition, Couchbase’s flexibility allows AGRA Fintech to develop solutions for a variety of applications and gives developers more freedom to innovate. Since deploying Couchbase, AGRA Fintech has significantly improved its data management while saving cost, time and resources. This enables the company to continue strengthening its leading position in the industry.

To meet the unique requirements of customers’ diverse datasets, AGRA Fintech develops platform-independent products that can serve many organizations. AGRA Fintech can run its applications on legacy servers, deploy containers in any cloud and integrate with Couchbase and various databases.

“Couchbase’s in-memory and distributed architecture consistently delivers the sub-millisecond responsiveness that customers demand,” said Lior Tagor, vice president and general manager of Israel, Turkey, Middle East and Africa at Couchbase. “Couchbase also drives the flexibility and increased operational efficiency customers need to keep up with constantly changing data. This means lower costs and faster time to market. That’s why AGRA Fintech and other financial services companies choose Couchbase’s flexible database platform to power applications from cloud to edge.”

To learn more about why financial services companies choose Couchbase to power their applications, please visit this page.

Additional resources:

• Read more about how customers are modernizing with Couchbase here 
• Read more about Couchbase’s modern database for enterprise applications here 
• Read more about Couchbase’s advantages in speed, functionality and TCO over Redis here 

SANTA CLARA, Calif. – March 07, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced the expansion of its executive leadership team with the appointment of Julie Irish as senior vice president and chief information officer. In this role, Irish will drive Couchbase’s global IT strategy in alignment with the company’s key business objectives.

Irish brings nearly 20 years of experience leading business operations, information technology, system implementation, migrations and strategic planning. She was most recently vice president of business applications and IT at New Relic where she scaled the function, led the delivery of complex IT projects and supported the company’s migration to a consumption-based business model. Before that, Irish held leadership positions at Harvard Business Publishing and startup RichRelevance. 

“Julie’s appointment marks a key milestone in the next phase of Couchbase’s expansion, and we’re very pleased to welcome her as our first CIO,” said Matt Cain, chair, president and CEO of Couchbase. “With an excellent track record and deep expertise in technology innovation, Julie’s leadership will further enable our world-class team as we scale beyond inflection and unlock the next phase of our growth with our database-as-a-service Couchbase Capella.”  

Irish will lead the global IT and security team and will set the strategy for systems and IT to position Couchbase’s internal infrastructure for future growth and effectiveness. Her extensive experience leading organizations through complexity and building strong business partnering teams will be essential in accelerating Couchbase’s business expansion while equipping the global team with improved systems, tools and processes.

“The strategic use of technology is critical to scaling across all functions to unlock growth. It’s an exciting time to join Couchbase as more customers transition to the Couchbase Capella offering and consumption models. Couchbase has built a strong technology foundation and I am honored to join the company contributing my insights, setting strategic priorities and collaborating with our world-class team,” added Irish.

Santa Clara, Calif., – March 5, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its fourth quarter and fiscal year ended January 31, 2024.

“We finished fiscal 2024 on a strong note, highlighted by 25% ARR growth, and marking a historical year for Couchbase,” said Matt Cain, Chair, President and CEO of Couchbase. “In addition to delivering results that exceeded the high end of our guidance range on all metrics, we achieved an important milestone with Capella, which now represents 11% of our ARR and over 25% of our customer base. As we look ahead towards fiscal 2025, I’m confident that we have the differentiated platform and operational rigor to achieve our next phase of growth.”

Fourth Quarter Fiscal 2024 Financial Highlights

• Revenue: Total revenue for the quarter was $50.1 million, an increase of 20% year-over-year. Subscription revenue for the quarter was $48.1 million, an increase of 26% year-over-year.
• Annual recurring revenue (ARR): Total ARR as of January 31, 2024 was $204.2 million, an increase of 25% year-over-year as reported and on a constant currency basis. See the section titled “Key Business Metrics” below for details.
• Gross margin: Gross margin for the quarter was 89.7%, compared to 85.7% for the fourth quarter of fiscal 2023. Non-GAAP gross margin for the quarter was 90.4%, compared to 86.3% for the fourth quarter of fiscal 2023. See the section titled “Use of Non-GAAP Financial Measures” and the tables titled “Reconciliation of GAAP to Non-GAAP Results” below for details.
• Loss from operations: Loss from operations for the quarter was $22.6 million, compared to $18.5 million for the fourth quarter of fiscal 2023. Non-GAAP operating loss for the quarter was $4.1 million, compared to $9.9 million for the fourth quarter of fiscal 2023.
• Cash flow: Cash flow used in operating activities for the quarter was $6.5 million, compared to $10.2 million in the fourth quarter of fiscal 2023. Capital expenditures were $1.3 million during the quarter, leading to negative free cash flow of $7.7 million, compared to negative free cash flow of $11.8 million in the fourth quarter of fiscal 2023.
• Remaining performance obligations (RPO): RPO as of January 31, 2024 was $241.8 million, an increase of 46% year-over-year.

Full Year Fiscal 2024 Financial Highlights

• Revenue: Total revenue for the year was $180.0 million, an increase of 16% year-over-year. Subscription revenue for the year was $171.6 million, an increase of 20% year-over-year.
• Gross margin: Gross margin for the year was 87.7%, compared to 86.9% for fiscal 2023. Non-GAAP gross margin for the year was 88.5%, compared to 87.6% for fiscal 2023.
• Loss from operations: Loss from operations for the year was $84.5 million, compared to $69.3 million for fiscal 2023. Non-GAAP operating loss for the year was $31.3 million, compared to $41.3 million for fiscal 2023.
• Cash flow: Cash flows used in operating activities for the year were $26.9 million, compared to $41.2 million in fiscal 2023. Capital expenditures were $4.7 million during the year, leading to negative free cash flow of $31.6 million, compared to negative free cash flow of $46.8 million in fiscal 2023.

Recent Business Highlights

• Announced vector search as a new feature in Couchbase Capella™ and Couchbase Server to help businesses bring to market a new class of AI-powered adaptive applications that engage users in a hyper-personalized and contextualized way. Couchbase is the first database company to announce it will offer vector search optimized for running onsite, across clouds and to mobile and IoT devices at the edge, paving the way for organizations to run adaptive applications anywhere, including offline.
• Announced it is extending its AI partner ecosystem with LangChain and LlamaIndex support to further boost developer productivity. The integration with LangChain enables a common API interface to converse with a broad library of large language models (LLMs). Similarly, the integration with LlamaIndex will provide developers with even more choices for LLMs when building adaptive applications. These ecosystem integrations will accelerate query prompt assembly, improve response validation and facilitate retrieval-augmented generation (RAG)
• Announced new enterprise features, including new file-based index rebalancing, reducing times by up to 80%, one-step upgrade from Couchstore to Magma storage engine without stopping the front-end workloads, faster failover times and query simplification. Couchbase continues to invest at a rapid pace to enhance its platform with new enterprise and developer features.
• Announced the general availability of Capella iQ, a co-pilot for coding. Capella iQ allows developers to interact with Couchbase Capella using natural language conversation, making database interactions more intuitive, efficient and accessible.
• Couchbase Capella was named Best Cloud Data Management Solution at the 2023-2024 Cloud Awards for its performance, versatility and community.

Financial Outlook

For the first quarter and full year of fiscal 2025, Couchbase expects:

 

Use of Non-GAAP Financial Measures

In addition to our financial information presented in accordance with GAAP, we believe certain non-GAAP financial measures are useful to investors in evaluating our operating performance. We use certain non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. Non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures (provided in the financial statement tables included in this press release), and not to rely on any single financial measure to evaluate our business.

Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss and non-GAAP net loss per share: We define these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense, employer payroll taxes on employee stock transactions, restructuring charges and impairment of capitalized internal-use software. We use these non-GAAP financial measures in conjunction with GAAP measures to assess our performance, including in the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance.

Beginning with the fourth quarter of fiscal 2024, we have excluded the impairment of capitalized internal-use software, a non-cash operating expense, from our non-GAAP results as it is not reflective of ongoing operating results. This impairment charge relates to certain previously capitalized internal-use software that we determined would no longer be placed into service. Prior period non-GAAP financial measures have not been adjusted to reflect this change as we did not incur impairment of capitalized internal-use software in any prior period presented.

Free cash flow: We define free cash flow as cash used in operating activities less additions to property and equipment, which includes capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives.

Please see the reconciliation tables at the end of this press release for the reconciliation of GAAP and non-GAAP results.

 

Key Business Metrics

We review a number of operating and financial metrics, including ARR, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions.

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 also includes revenue from consumption-based cloud credits of Couchbase Capella products. ARR for Couchbase Capella products in a customer’s initial year is calculated as described above; after a customer’s initial year it is calculated by annualizing the prior 90 days of actual consumption, assuming no increases or reductions in usage. ARR excludes revenue derived from the use of cloud products only based on on-demand arrangements and services revenue. ARR should be viewed independently of revenue, and does not represent our revenue under GAAP on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal dates. ARR is not intended to be a replacement for forecasts of revenue. 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.

We also attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates within the current period. We calculate constant currency growth rates by applying the applicable prior period exchange rates to current period results.

 

Forward-Looking Statements

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, including new capabilities, programs and partnerships and their impact on our customers and our business; 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 geopolitical and macroeconomic factors. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the Securities and Exchange Commission 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, 2023. Additional information will be made available in our Annual Report on Form 10-K for the year ended January 31, 2024 that will be filed with the Securities and Exchange Commission, 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.

Investor Contact:

Edward Parker

ICR for Couchbase

IR@couchbase.com

Media Contact:

Michelle Lazzar

Couchbase Communications

CouchbasePR@couchbase.com

 

Couchbase, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)

 

______________________________

(1) Includes stock-based compensation expense as follows:

 

 

Couchbase, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)

 

 

Couchbase, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

 

Couchbase, Inc.
Reconciliation of GAAP to Non-GAAP Results
(in thousands, except per share data)
(unaudited)

 

 

 

_______________________________

(2) For the twelve months ended January 31, 2024 and the three and twelve months ended January 31, 2023, an immaterial amount of stock-based compensation expense related to restructuring charges was included in the restructuring expense line.

 

The following table presents a reconciliation of free cash flow to net cash used in operating activities, the most directly comparable GAAP measure, for each of the periods indicated (in thousands, unaudited):

 

 

Couchbase, Inc.
Key Business Metrics
(in millions)
(unaudited)

 

Couchbase is the first to announce vector search at the edge, enabling AI applications anywhere

Announcing LangChain and LlamaIndex support for greater developer productivity

Couchbase’s multipurpose database platform reduces architectural complexity to build trustworthy adaptive applications more quickly and easily 

SANTA CLARA, Calif. – Feb. 29, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today introduced vector search as a new feature in Couchbase Capella™ Database-as-a-Service (DBaaS) and Couchbase Server to help businesses bring to market a new class of AI-powered adaptive applications that engage users in a hyper-personalized and contextualized way. Couchbase is the first database platform to announce it will offer vector search optimized for running onsite, across clouds, to mobile and IoT devices at the edge, paving the way for organizations to run adaptive applications anywhere. 

“Adding vector search to our platform is the next step in enabling our customers to build a new wave of adaptive applications, and our ability to bring vector search from cloud to edge is game-changing,” said Scott Anderson, SVP of product management and business operations at Couchbase. “Couchbase is seizing this moment, bringing together vector search and real-time data analysis on the same platform. Our approach provides customers a safe, fast and simplified database architecture that’s multipurpose, real time and ready for AI.”

Vector Search and the Rise of Adaptive Applications

Businesses are racing to build hyper-personalized, high-performing and adaptive applications powered by generative AI that deliver exceptional experiences to their end users. Common use cases include chatbots, recommendation systems and semantic search. For example, suppose a customer wants to purchase shoes that are complementary to a particular outfit. In that case, they can narrow their online search for products by uploading a photo of the outfit to a mobile application, along with the brand name, customer rating, price range and availability at a specific geographical area. This interaction with an adaptive application involves a hybrid search including vectors, text, numerical ranges, operational inventory query and geospatial matching. 

As more organizations build intelligence into applications that converse with large language models (LLMs), semantic search capabilities powered by vector search — and augmented by retrieval-augmented generation (RAG) — are critical to taming hallucinations and improving response accuracy. While vector-only databases aim to solve the challenges of processing and storing data for LLMs, having multiple standalone solutions adds complexity to the enterprise IT stack and slows application performance. Couchbase’s multipurpose capabilities eliminate that friction and deliver a simplified architecture to improve the accuracy of LLM results. Couchbase also makes it easier and faster for developers to build such applications with a single SQL++ query using the vector index, removing the need to use multiple indexes or products. 

Couchbase’s recent announcement of its columnar service, together with vector search, provides customers with a unique approach that delivers cost-efficiency and reduced complexity. By consolidating workloads in one cloud database platform, Couchbase makes it easier for development teams to build trustworthy, adaptive applications that run wherever they wish. With vector search as a feature across all Couchbase products, customers gain:

• Similarity and hybrid search, combining text, vector, range and geospatial search capabilities in one. 
• RAG to make AI-powered applications more accurate, safe and timely. 
• Enhanced performance because all search patterns can be supported within a single index to lower response latency. 

Strengthening AI Ecosystem Integrations 

In line with its AI strategy, Couchbase is extending its AI partner ecosystem with LangChain and LlamaIndex support to further boost developer productivity. Integration with LangChain enables a common API interface to converse with a broad library of LLMs. Similarly, Couchbase’s integration with LlamaIndex will provide developers with even more choices for LLMs when building adaptive applications. These ecosystem integrations will accelerate query prompt assembly, improve response validation and facilitate RAG applications. 

“Retrieval has become the predominant way to combine data with LLMs,” said Harrison Chase, CEO and co-founder of LangChain. “Many LLM-driven applications demand user-specific data beyond the model’s training dataset, relying on robust databases to feed in supplementary data and context from different sources. Our integration with Couchbase provides customers another powerful database option for vector store so they can more easily build AI applications.”

Supporting Quotes 

“We are thrilled to see Couchbase add vector capabilities, and the timing couldn’t be better as we’re implementing AI and LLMs to better meet the needs of consumers,” said Emre Savci, tech lead and staff engineer at Trendyol. “Since working with Couchbase, our developers have become more agile in building and scaling applications to provide the best possible shopping experiences for our customers. The addition of vector search will help our team make the user experience even better and provide more accurate and personalized search results to our shoppers.”

“The next generation of apps will be incredibly advanced as organizations put AI in the driver’s seat of their innovation,” said Doug Henschen, vice president and principal analyst at Constellation Research. “With AI requiring new tools and infrastructure to support it, organizations are increasingly looking at ways to consolidate and simplify technology stacks and manage cost. With the addition of vector search capabilities, Couchbase is reducing complexity and delivering a multipurpose database platform that addresses needs from cloud to edge to on-premises. This will let organizations do more on one, unified platform to accelerate the development of adaptive applications.”

These new capabilities are expected to be available in the first quarter of Couchbase’s fiscal year 2025 in Capella and Couchbase Server and in beta for mobile and edge. 

Additional Resources

• For more information about these and other new features in Couchbase Capella and Server, click here. 
• Sign up here for the beta of Couchbase Mobile with vector search.
• To learn more about Couchbase for vector search, click here. 
• Register here to attend a webcast to learn more about the new features and capabilities for AI-powered adaptive applications. 

Judges Praise Database-as-a-Service for Its Performance, Versatility and Community

SANTA CLARA, Calif. – Jan. 11, 2024 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that Couchbase Capella™ Database-as-a-Service (DBaaS) has been declared Best Cloud Data Management Solution at the 2023-2024 Cloud Awards. 

The Cloud Awards has recognized and honored innovation in cloud computing since 2011, spanning diverse industry sectors and welcoming submissions from organizations across the globe. Hundreds of organizations entered the 2023-2024 Cloud Awards program, with international entries coming from North America, Canada, Australia, the United Kingdom, Europe and the Middle East. 

“A modern database that allows developers to harness the power of AI to create real-time, adaptive applications that are contextual, hyper-personalized and intelligent, is an increasingly essential asset for enterprises,” said Scott Anderson, SVP, Product Management and Business Operations, Couchbase. “We are honored that our cloud database platform Capella has been named Best Cloud Data Management Solution by the Cloud Awards. We believe that the future of databases lies in the cloud, allowing organizations to take advantage of the scalability and agility they need from the cloud to the edge, and this recognition is a wonderful validation of our approach.” 

“With its capability for low-latency data access, Couchbase proves well-suited for applications with demanding performance requirements,” said Jebastin Packiaraj, Lead Judge, The Cloud Awards. “Developers appreciate its flexibility, allowing powerful queries, including joins and aggregations. The active and engaged community is valuable for users seeking support, sharing experiences and accessing a wealth of resources. Supporting multiple data models, including JSON documents and key-value, adds to Couchbase’s versatility. The Judging Team at the Cloud Awards were very impressed – congratulations, Couchbase!”

“The Cloud Awards continue to lead the way in identifying the great organizations who create world-changing technologies,” said James Williams, Head of Operations, The Cloud Awards. “Couchbase is a truly impressive winner of a Cloud Award, taking cloud technologies to new heights. They impressed the panel with their market-leading innovations, and it was a real pleasure to see them come top in their category.”

To view the full list of Cloud Award winners, please visit: https://www.cloud-awards.com/2023-2024-cloud-awards-finalists/

Additional resources:

• For more information about Couchbase Capella and to try it out for free, please visit: https://www.couchbase.com/products/capella/ 
• Developers can learn more about Capella by visiting https://www.couchbase.com/developers/ 
• Find out how Capella compares to the competition and how it can bring great performance to a variety of workloads by visiting https://resources.couchbase.com/capella/altoros-report-eval-nosql-dbaas 

Capella Columnar Service on AWS Can Eliminate the Latency Gap Between Analytics and Operations 

LAS VEGAS – Nov. 27, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced a new Capella columnar service on Amazon Web Services (AWS) at AWS re:Invent 2023, enabling organizations to harness real-time analytics to build adaptive applications. Capella columnar is a new service that introduces a columnar store and data integration into the Capella Database-as-a-Service (DBaaS), thereby allowing for real-time data analysis on the same platform as operational workloads. By converging operational and real-time analytic applications into one database platform, Couchbase removes friction to deliver a premium customer experience. For more information about Capella columnar and to sign up for the private preview, please visit https://www.couchbase.com/products/analytics/. 

“To gain a competitive advantage and accelerate business opportunities, organizations are investing in real-time, adaptive applications that are contextual, hyper-personalized and intelligent. Real-time analytics are paramount to delivering these adaptive applications, and AI is making them even better and more strategic,” said Scott Anderson, SVP of product management and business operations at Couchbase. “With columnar in our Capella DBaaS, for the first time organizations can easily build adaptive applications powered by real-time analytics in a single JSON-based platform. We are eliminating the latency gap that has forever existed between analytics and operational databases while making it easier for development teams to include the required real-time analytic measures into their adaptive applications.” 

According to Forrester Research¹, “Moving data from transactional systems to operational systems and then to analytical systems is a barrier to making better decisions faster. Disparate data stacks also compromise the delivery of timely data to various applications, operational systems and into the analytics workflow, resulting in missed business opportunities.” The acceleration of AI creates an even greater challenge because having disparate database platforms introduces complexity that confuses the models being trained to power the application. Capella columnar solves these problems as it allows users to perform operational and real-time analytical processing with compelling performance and speed, all in one uniquely architected platform. Furthermore, both the application and the user benefit by experiencing no latency and receiving a more seamless, premium experience. 

With the new Capella columnar service, customers can:

• Improve agility and performance. Capella columnar works within a Capella-powered application to enable fast, schemaless ingestion without having to perform extract, transform and load (ETL). The service can distribute data from operational workloads to perform real-time analytics on operational data and then immediately influence application behavior with that information. In addition, the separation of compute and storage means Capella columnar can rapidly scale to meet changing application or analytical needs.
• Stream ingestion from enterprise data sources in real time. With Capella columnar, operational analytics are not limited to only operational data because users can include external JSON, relational, streaming and other datasets from SaaS applications or other database management sources. Capella columnar can analyze a true variety of data in a simple, single statement. For example, it can analyze data from Couchbase, S3, BSON, Cassandra, DynamoDB and MySQL all in the same statement. 
• Increase ease of use for developers. Capella columnar uses the same SQL++ query language across operational and real-time analytic applications. This means that developers who already know SQL can easily build applications on a single platform with a single query language instead of having to use two different query languages. The new service also features natural language-powered Capella iQ as a SQL++ co-pilot for faster coding. 
• Reduce complexity and cost. By converging operational and real-time analytics in one data platform, customers can achieve more with Capella and with a lower total cost of ownership (TCO) instead of absorbing the cost of one database platform for operational workloads and another for near-real-time analytics. In addition, teams converting JSON data to traditional analytic databases will no longer need to go through a complex conversion process. 

Capella columnar leverages AWS services as an integral part of the product architecture including Amazon Elastic Compute Cloud (Amazon EC2), Amazon Simple Storage Service (Amazon S3), Amazon Elastic Kubernetes Service (Amazon EKS), Amazon Managed Streaming for Apache Kafka (Amazon MSK) and AWS Secrets Manager. 

Couchbase is attending AWS re:Invent in Las Vegas, November 27-December 1, 2023. Attendees can visit booth number 1095 to see a demo of Capella columnar and learn more about Capella for building adaptive applications.

Additional Resources

• To find out what’s new with Capella columnar, read this blog 
• For more information about Capella and to try it out for free, please visit www.couchbase.com/capella

(1) Translytical Architecture 2.0 Evolves To Support Distributed, Multimodel, And AI Capabilities, by Noel Yuhanna, November 2023, Forrester Research

Battery Ventures Recognizes Couchbase Among Public Cloud Companies With Highest Levels of Self-Reported Employee Satisfaction

SANTA CLARA, Calif. – Oct. 5, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced its recognition as one of the highest-rated cloud computing companies to work for, in the sixth-ever list released by Battery Ventures, the global, technology-focused investment firm, created with data provided by Glassdoor.* The distinction placed Couchbase at number nine out of 25 companies with an overall company ranking of 4.45, compared to the broader average ranking across Glassdoor of 3.7. 

The list recognizes the top 25 public and top 25 private companies — all business-to-business (B2B), cloud-computing companies — where employees self-report the highest levels of satisfaction at work, according to feedback shared on Glassdoor, a provider of insights about jobs and companies.

“Couchbase is a values-driven organization that strives to make tomorrow better than today for customers, partners and each other. Our values also include being a great human with integrity, attacking hard problems and playing to win together while also serving our families,” said Fidelma Butler, chief people officer at Couchbase. “Couchbase’s mission is to simplify how organizations develop, deploy and run modern applications wherever they are, and it is our world-class team who enable that. We are honored to be named one of the highest-rated cloud computing companies to work for and deeply appreciate the many contributions by our dedicated team who make Couchbase a terrific place to work.” 

Couchbase is committed to building and supporting an engaged, diverse and inclusive global team. Additional recent workplace awards Couchbase has been honored with include UK’s Best Workplaces in Tech 2022 and Fortune’s Best Workplaces in the Bay Area 2022. For more information about career opportunities at Couchbase, please visit https://www.couchbase.com/careers.  

“The companies on this year’s Highest-Rated Cloud-Computing Companies To Work For list have managed to create and preserve stellar corporate cultures during a very tumultuous time in the technology markets — and also as traditional workplace norms, like working in the office, have dramatically shifted post-COVID,” said Neeraj Agrawal, a cloud-computing investor and Battery general partner. “Cultivating employee happiness and satisfaction is more challenging than ever, so we commend this year’s winners for their efforts.”

“Company culture is pivotal for attracting elite talent and sustaining a competitive edge in the marketplace, and its significance becomes even more pronounced in challenging economic times. We hope that all companies featured on this list will take pride in this well-deserved recognition,” added Brandon Gleklen, a Battery principal.

To qualify for the 2023 list, a cloud company must have received at least 30 company reviews on Glassdoor between July 1, 2022 and June 30, 2023. The public company report tracks public cloud companies with a B2B business model that are listed on a U.S.-based stock exchange and have at least $500 million in total enterprise value as of the end of Q2 2023, according to CapIQ.

The full private and public company lists can be found here: https://www.battery.com/blog/highest-rated-cloud-companies-2023 

*Glassdoor was a Battery portfolio company. For a full list of all Battery investments and exits, please click here.