Archives: Press Releases

SANTA CLARA, Calif. – Sept. 25, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that Centrica PLC, an international energy services and solutions provider, has selected Couchbase Capella™ Database-as-a-Service (DBaaS). Centrica will use Capella to provide customer and job history information to its circa 7,000 field engineers, allowing them to quickly and effectively serve more than 10 million customers in the U.K. and Ireland. By adopting Capella, Centrica benefits from a fully managed cloud database service with premium performance while improving ROI.

“The needs of our customers have driven our ongoing cloud-first policy, and Couchbase Capella aligns perfectly with this strategy – delivering a scalable, powerful database solution at compelling price-performance,” commented Titu Joseph Rajan, head of integration at Centrica. “We must ensure that urgent customer service can be carried out seamlessly by our highly skilled engineers. By migrating from our self-managed on-premises instances of Couchbase Enterprise servers to the Couchbase Capella managed service, we have been able to reduce our reliance on infrastructure, thereby cutting down our infrastructure maintenance and operational costs.”

“At the same time, migrating to Capella has enabled the modernisation of our legacy application stack,” continued Rajan. “With the support of Couchbase’s Solution Engineering and Professional Services teams, we have been able to further optimise our workflows and reduce our cluster sizes by appropriate indexing and tuning of our NoSQL queries which resulted in even better performance.”

Centrica provides energy and services to over 10 million customers, through brands such as British Gas, Bord Gáis Energy and Hive. Due to the nature of their services, users expect rapid, accurate customer service to solve urgent issues such as broken boilers or disrupted energy supplies.

Couchbase Capella is a fully managed DBaaS, that combines reliability and scalability with compelling price-performance to reduce the total cost of ownership for the organization. Centrica is using Capella on Amazon Web Services (AWS) for its customer 360 application which stores and provides access to customer data including products and billing history through a field app used by the engineers. With efficient, reliable and secure access to this data, Centrica’s applications can quickly highlight and share the key details that engineers need to fix customers’ issues.

“Modern customer service demands near-instant action: meaning the databases powering applications have to be reliable, scalable and offer a complete view of the customer,” said Robert Ekstrom, vice president and general manager of Europe at Couchbase. “Centrica’s decision will mean it can more effectively coordinate its engineers to deliver services, ensuring customer satisfaction. As enterprises look for ways to deliver more personalized customer service than their competition, and make greater use of data-intensive technologies such as AI, modern cloud-based databases will be an essential part of the technology stack – coupling agility, scalability and the best possible price-performance.”

See how fast and easy it is to get started with Capella by starting a free trial.

Additional Resources

• Read more about how energy and utilities customers are modernizing with Couchbase here.
• For more information about Capella for developers, please visit this page.
• See how Capella compares to the competition here.

Santa Clara, Calif., – September 6, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its second quarter ended July 31, 2023. “We delivered revenue and profitability that exceeded the high end of our guidance range, highlighted by 24% ARR growth, strong retention, and increasing momentum with Capella,” said Matt Cain, Chair, President and CEO of Couchbase. “As we look to the second half of the fiscal year, we are poised to continue to make strong progress on our strategic initiatives, including investing in our cloud database platform for what we believe will be a very exciting future underpinned by AI-powered applications.”

Second Quarter Fiscal 2024 Financial Highlights

• Revenue: Total revenue for the quarter was $43.1 million, an increase of 8% year-over-year. Subscription revenue for the quarter was $41.0 million, an increase of 11% year-over-year.
• Annual recurring revenue (ARR): Total ARR as of July 31, 2023 was $180.7 million, an increase of 24% year-over-year, or 23% on a constant currency basis. See the section titled “Key Business Metrics” below for details.
• Gross margin: Gross margin for the quarter was 86.3%, compared to 88.0% for the second quarter of fiscal 2023. Non-GAAP gross margin for the quarter was 87.2%, compared to 88.7% for the second 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 $21.9 million, compared to $15.2 million for the second quarter of fiscal 2023. Non-GAAP operating loss for the quarter was $9.2 million, compared to $8.4 million for the second quarter of fiscal 2023.
• Cash flow: Cash flow used in operating activities for the quarter was $0.5 million, compared to $7.7 million in the second quarter of fiscal 2023. Capital expenditures were $1.1 million during the quarter, leading to negative free cash flow of $1.6 million, compared to negative free cash flow of $9.3 million in the second quarter of fiscal 2023.
• Remaining performance obligations (RPO): RPO as of July 31, 2023 was $170.6 million, an increase of 2% year-over-year.

Recent Business Highlights

• Announced that Couchbase is introducing generative AI into its Database-as-a-Service Couchbase Capella^™ designed to significantly enhance developer productivity and accelerate time to market for modern applications. This new capability, called Capella iQ, is designed to enable developers to write SQL++ and application-level code more quickly by delivering recommended sample code.
• Announced the Couchbase AI Accelerate Partner Program designed to make it easier for customers to build AI-powered applications with Couchbase Capella and support integrations with the broader AI and data ecosystem. The goal of the program is to provide organizations with resources to quickly integrate their platforms and tools with Couchbase Capella, thereby reducing friction for customers who are building and deploying models for AI-driven applications.
• Granted two additional U.S. patents, demonstrating the company’s continued high velocity of product innovation and differentiation. One is Couchbase’s fourth patent, which was granted for executing transactions on distributed databases. The other is Couchbase’s fifth patent, which was for cost-based query optimization for array fields in database systems.
• Announced additional enhancements to Couchbase Capella that further improve the developer experience, increase efficiency and make it easier to operate a cloud database platform. This includes new integrations with popular developer tools Vercel and the IntelliJ family of integrated development environments (IDEs), dynamic disk input/output operations per second (IOPS), on/off provisioned database capability to better align with developer usage patterns and the achievement of independent validation for Payment Card Industry Data Security Standard (PCI DSS) and Cloud Security Alliance Security Trust Assurance and Risk (CSA STAR) compliance.

Financial Outlook

For the third quarter and full year of fiscal 2024, 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 2024 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 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Wednesday, September 6, 2023, 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.

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 and restructuring charges. 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.

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 updated our definition of ARR in the third quarter of fiscal 2023 to clarify that the 90-day actual consumption methodology is only used after a customer’s initial year. The reason for this change is to better reflect the ARR for Couchbase Capella products following the launch of Couchbase Capella in fiscal 2022. ARR for prior periods have not been adjusted to reflect this change as it is not material to any period previously presented. 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, 2023. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2023 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.

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 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 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)

SANTA CLARA, Calif. – August 30, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced the Couchbase AI Accelerate Partner Program designed to make it easier for customers to build AI-powered applications with Couchbase Capella and support integrations with the broader AI and data ecosystem. The program will provide organizations with resources to quickly integrate their platforms and tools with the industry-leading Database-as-a-Service Couchbase Capella™. This reduces friction for customers who are building and deploying models for AI-driven applications.

The new AI Accelerate Partner Program is part of Couchbase PartnerEngage, a worldwide partner program that provides organizations with access to resources, benefits, custom commercial models and relationships essential to increasing partner sales and maximizing profits. AI Accelerate provides collaboration opportunities for cloud service providers, independent software vendors, system integrators and technology partners in the Couchbase PartnerEngage ecosystem. The benefits of joining the AI Accelerate Partner Program span go-to-market (GTM), technical and enablement categories, including:

• Eligibility for early access to beta programs and to the Couchbase AI roadmap
• Customized, hands-on AI-focused workshops with the Couchbase pre-sales team
• Accelerated path to integration with Capella, including eligibility for extended Capella trials
• Access to the Couchbase PartnerEngage portal, featuring enablement assets and self-paced online training courses
• Joint GTM opportunities and eligibility for a listing on the Couchbase website and other co-marketing investments

“Generative AI holds great promise for how companies build applications and the types of experiences they can deliver to their customers,” said Matt McDonough, SVP of business development and strategy at Couchbase. “Couchbase has long invested in the partner ecosystem and believes in collaboration with partners, joint solutions and integrations. This allows partners to deliver the best customer experience so customers can get more insight and value from the data stored in Capella. In order to make it easier for customers to build AI-powered applications on Capella, we are partnering, building integrations and aligning with others in the ecosystem. The new AI Accelerate Partner Program will ensure that our cloud database platform is well positioned to be a key part of the rapidly emerging AI landscape.”

For more information about the Couchbase AI Accelerate Partner Program, please visit www.couchbase.com/ai-cloud-services/.

In addition, Couchbase is pleased to announce that MindsDB and Dataworkz are the first companies to join the program.

“We are witnessing a time where organizations worldwide are transforming their businesses to be more AI-centric,” said Jorge Torres, co-founder and CEO of MindsDB. “At MindsDB, we empower companies to build AI applications fast by connecting their data sources to popular AI frameworks. Becoming part of the Couchbase AI Accelerate Partner Program was an easy decision because it aligns with our core mission of expanding AI’s accessibility to a broader spectrum of businesses. Together with Couchbase, we can provide valuable resources that help customers build AI-powered applications that will drive transformation.”

“World-class large language models (LLMs) require state-of-the-art data, and the hardest part of building an AI application is wrangling data to make it compatible with foundation models,” said Sachin Smotra, CEO at Dataworkz. “Dataworkz enables enterprises to harness the power of private or public LLMs on their own proprietary data using Retrieval Augmented Generation. The Couchbase AI Accelerate Partner Program enables Dataworkz to harness data stored in Capella and provide domain-specific up-to-date context for building AI applications in a managed environment.”

In addition, Couchbase today announced it is introducing generative AI into Capella. With the launch of Capella iQ, organizations will be able to significantly enhance developer productivity and accelerate time to market for modern applications. The new capability enables developers to write SQL++ and application-level code more quickly by delivering recommended sample code.

Capella iQ Will Use Natural Language Processing to Enable Developers to Build Modern Apps Faster and Easier in Capella

SANTA CLARA, Calif. – August 30, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced it is introducing generative AI capabilities into its Database-as-a-Service Couchbase Capella™ to significantly enhance developer productivity and accelerate time to market for modern applications. The new capability called Capella iQ enables developers to write SQL++ and application-level code more quickly by delivering recommended sample code. Couchbase also announced additional Capella updates that further enhance the developer experience, increase efficiency and ease operations.

Managing the full lifecycle of an application puts pressure on developers and adds friction to their workflow, which can slow down productivity. At the same time, developer productivity has never been more important given the demand for and potential of AI applications. Powered by generative AI, Capella iQ uses foundation models to add intelligence to the Capella developer workbench integrated development environment (IDE). With Capella iQ, developers can use natural language to quickly and easily generate code, sample datasets and unit tests. Capella iQ also advises on index creation, search syntax and other programmatic access to Capella. Leveraging generative AI to build and test applications quicker in Capella delivers higher productivity and quality, resulting in faster time to market.

“The familiarity of SQL++ as the query language was already a great tool to help developers who are new to Capella get up to speed quickly. Capella iQ will take those productivity gains even further and save my team and me tons of time,” said Brant Burnett, systems architect at CenterEdge. “Having a co-pilot like Capella iQ in the developer workbench makes it so much faster for teams to build modern apps on Capella so developers can do what they love, which is building amazing apps.”

“Code that used to take hours for a developer to write will now be generated in a matter of minutes in sample sets from Capella iQ,” said Scott Anderson, SVP of product management and business operations at Couchbase. “This makes developers more efficient when building modern apps, ultimately accelerating innovation for customers. By incorporating generative AI into our fully managed DBaaS, we are making it easier for developers to get started with Capella and significantly boost their productivity.”

For more information about Capella iQ and to sign up for a private preview, please visit www.couchbase.com/ai-cloud-services/.

Couchbase’s mission is to simplify how developers and architects develop, deploy and run modern applications wherever they are. The company delivers a high performance and scalable cloud database platform upon which next-gen applications can be built, such as fraud detection, product catalog recommendations, predictive analytics and more.

“From day one, Couchbase has architected a cloud database platform that enables the most business-critical and demanding applications to perform and provide rich, personalized, differentiated experiences for end users. Combining operational and analytical capabilities, our multi-model platform also seamlessly integrates advanced services like indexing, eventing, full-text search and more in a single solution,” said Matt Cain, chair, president and CEO of Couchbase. “Generative AI is the next great catalyst for modern applications and our customers are exploring ways to build AI-powered apps that can run anywhere with our platform.”

For example, Capella App Services enables edge AI through a predictive query API, which allows mobile applications to use trained machine learning models to run predictive queries locally on mobile devices against stored data. Additionally, Couchbase customers can use Python user-defined functions to run models against the database.

“We are innovating and building for the exciting generative AI market opportunity by driving developer productivity with Capella iQ, expanding our multi-model functions, optimizing AI processing and enabling AI apps from cloud to edge while also building a vibrant AI partner ecosystem,” continued Cain. “Couchbase has been uniquely built for this moment and we are investing in additional AI capabilities that will further extend the value of Couchbase as a cloud database platform for modern applications.”

In addition to investing in product innovation for an AI-powered future, Couchbase believes that a robust partner ecosystem is required to accelerate AI for organizations. Today, the company also announced the Couchbase AI Accelerate Partner Program, designed to make it easier for customers to build AI-powered applications with Capella and support integrations with the broader AI and data ecosystem.

Additional Capella Enhancements

Couchbase today also announced several other new updates to Capella that further enhance the developer experience, increase efficiency and make it easier to operate the cloud database platform. The customer benefits include:

• Simplified developer experience: Couchbase is extending Capella to more of the developer platform ecosystem highly favored by frontend and full stack developers. New integrations with popular developer tools Vercel and the IntelliJ family of IDEs further reduce friction for developers and development teams.
• More intelligent operations: By dynamically scaling the disk storage and input/output operations per second (IOPS), Capella clusters can handle growing workloads more efficiently, resulting in faster response times with an improved user experience. The increased disk IOPS enables Capella clusters to handle higher levels of concurrent read and write operations. This ensures that applications remain highly available even during peak usage periods and contributes further to Capella’s best-in-class price performance.
• Increased security and governance: Capella has achieved independent validation for PCI DSS 4.0 and CSA STAR Level 2 compliance. These enhancements complement the SOC 2 Type II and HIPAA compliance that Couchbase Capella has already achieved, meeting broad enterprise requirements for cloud applications.

These new enhancements are generally available in Capella. Visit couchbase.com/capella to begin a free trial of Capella today.

Additional Resources

• Read this blog post for more information about what’s new in Capella, including Capella iQ.
• Visit couchbase.com/ai-cloud-services/ for more information about Capella iQ and to sign up for a private preview.
• Developers can learn more about Capella by visiting couchbase.com/developers.

Santa Clara, Calif., August 16, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that it will report financial results for its second fiscal quarter ended July 31, 2023 on Wednesday, September 6, 2023 after market close.

Couchbase will host a conference call and webcast at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on the same day to discuss its financial results. The conference call can be accessed by dialing 877-407-8029 from the United States, or +1 201-689-8029 from international locations. The webcast and a webcast replay can be accessed from the investor relations page of Couchbase’s website at investors.couchbase.com.

SANTA CLARA, CALIF. – July 12, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today released the findings from its sixth consecutive digital transformation survey of global IT leaders. The research shows that, despite shifting digital transformation goals, enterprises are still investing heavily in IT modernization and implementing new projects. A focus on operational efficiency is influencing how global enterprises invest in digital transformation initiatives. Nearly 60% of enterprises surveyed reported that their key modernization goal is to improve business resilience and efficiency in the face of the evolving global economy. And findings revealed that enterprises’ top IT investment priority in 2023 is empowering developers to build modern applications.

The survey of 600 senior IT decision makers found that enterprises plan to invest on average $33 million in the next 12 months. At the same time, digital transformation priorities have shifted. 78% of IT decision makers confirm their main priorities for transformation have changed in the last three years. 54% say their digital transformation focus has become more reactive to market changes and customer preferences in order to help the wider organization stay agile.

While these changes in digital transformation goals have helped businesses build resilience and weather a dynamic economy, they have not drastically slowed transformation. More than half (53%) of enterprises are either on target or ahead of their planned progress.

“IT modernization and digital transformation are vital strategic initiatives for an enterprise – whether helping to adopt new technologies like generative AI, creating new services or building resilience in times of uncertainty,” said Ravi Mayuram, CTO at Couchbase. “These survey results show how an efficient approach to digital transformation, taking full advantage of advances in data, cloud and AI can help with business resiliency, and at the same time pursue new growth opportunities. And rightly so, empowering developers has emerged as a key priority for enterprises, demonstrating their commitment to innovation.”

Other key findings include:

• Modernization enhances business resilience: 57% of respondents said their enterprise’s key digitization goal is to improve business resilience and efficiency in the face of an evolving global economy. Increased business resilience was the most common benefit from digital projects in the past 12 months, while increased profitability, employee productivity and application performance are the expected benefits for the next 12 months.
• Pressure to embrace new technologies: IT leaders are most commonly under pressure from the wider business to adopt serverless computing (identified by 42% of respondents), edge computing and IoT (40%) and low- or no-code technologies (39%). And while AI demonstrates a huge promise in accelerating and transforming businesses, it is still early days. IT teams are under less pressure today to adopt large language models (LLMs) such as ChatGPT, with 35% under pressure to adopt this technology. Web 3.0 and augmented or virtual reality were less of a priority.
• Developer productivity in the spotlight: Digital transformation projects are a key focus for developers. Pressure from developers on their organizations to support agile development and innovation (44%), and empowering developers to build more applications to meet customer needs (44%) were the top two drivers behind individual transformation projects. Furthermore, enterprises’ top IT investment priority switched from improving application performance in 2021 to empowering developers in 2023.
• IT spending under increased C-level scrutiny: 49% of respondents say their CFO is managing budgets in more detail and asking more questions about IT investment, while 37% say the pressure to achieve transformation with less budget and staff resources has increased in the last 12 months. And 35% say their IT department is under more strain than at any point in the last five years. This suggests that IT leaders are looking for ways to show cost efficiencies and reduce total cost of ownership.
• Enterprises report project challenges and delays: Issues such as a lack of buy-in within the business, an inability to secure or stay within budgets and reliance on legacy technology meant enterprises experienced projects failing, suffering delays or being canceled. This cost organizations on average $4.4 million and forced 68% of organizations facing modernization challenges to push digital transformation goals back by more than three months.
• High expectations and hopes for creative modernization projects: While there have been challenges, research showed that 38% of IT teams are focusing on tangible modernization projects that will provide immediate results. Furthermore, 100% of enterprises have implemented or identified opportunities for creative digital transformation projects that seemed impossible at the end of 2021. This suggests that modern tech continues to push the boundaries of what is possible for business transformation, drive innovation and inspire new next-gen apps.

“It’s clear that IT and business leaders recognize the importance of investing in modernization to drive transformation and achieve their short- and long-term goals efficiently,” continued Mayuram. “Organizations must make sure they are giving development teams the tools required to build modern, powerful and innovative applications to meet any use case in a cost-effective way. This will help them meet their customer demands faster and continue to maintain their leadership position.”

Read the full Couchbase report here.

Additional resources

• Developers can learn more about how easy it is to build modern apps with the Couchbase Capella™ Database-as-a-Service here.
• For more information about Capella and to start a free trial, visit this page.
• To learn how Couchbase drastically reduces the total cost of ownership for customers, visit this page.

SANTA CLARA, CALIF. – June 21, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today released research showing that 58% of enterprises are revising how they split their budget between CapEx and OpEx due to the economic climate, with 54% saying that the cloud is essential to balance IT spending. The majority of enterprises believe that further movement to the cloud is inevitable, with 44% actively looking for ways to reduce and/or control cloud spend. 

A global survey of 600 senior IT decision-makers found that factors such as vendor lock-in; a lack of transparency in cloud spending and costs; and inflexible management tools added 29% to enterprise cloud costs in 2022. Additionally, the survey found that on average enterprises spent $28.91 million on cloud services, resulting in an overspend of approximately $6.5 million. This indicates that flexible technologies that are transparently priced and cost-effective are best positioned to give enterprises a viable path to the cloud while driving business efficiency.

“Cloud is an essential component of the modern technology stack, offering enterprises the scalability, reliability and agility they need,” said Rahul Pradhan, VP of product and strategy at Couchbase. “More than ever, service providers need to deliver highly secure and scalable solutions, alongside flexible deployment options that deliver the right price-performance ratio for businesses. This approach gives customers agility and control over their cloud choices, helping them get the most out of their resources, freeing them to concentrate on driving and accelerating their business.”

Given that some organizations experience challenges with on-premises architecture, including employee training and infrastructure cost management, 53% are moving their spending from CapEx to OpEx, with an average 25% of their CapEx spend switching. Furthermore, by 2026, enterprises are planning for 31% of their total IT spend to be in the public cloud — and are 31% of the way to reaching this goal already. 

Cloud Evolves Role of IT in the Business and Drives Adoption of Self-serve and Low/No-code Technology 

Respondents see IT becoming more consultative, helping other departments make the right IT decisions while minimizing risk. Key insights include:

• 85% have either begun changing IT’s role to do this, or plan to do so in the next 12 months 
• 88% have either begun using or plan to use low-code and no-code technologies to help other business units develop applications with minimal input from IT
• 88% are taking a similar approach with serverless computing so other departments can directly purchase their own cloud services
• 90% are providing or will provide training for other departments in order to use cloud services more effectively

This does not mean IT will abandon responsibility — only 14% of organizations are using the cloud to drive innovation and new services without IT’s involvement. But it does mean that the skills IT teams need will evolve, with pure technical skills matched by interpersonal, managerial and educational skills to teach the business. 

“The cloud is at the heart of the evolution of IT into a more consultative role, which is becoming even more important with the rising wave of AI-driven applications,” continued Pradhan. “For instance, IT and developer teams can offload database management duties thanks to fully managed cloud services, but in turn they will need to educate and advise other departments on how to use cloud technologies effectively, responsibly and safely — from developing simple applications, to choosing cloud services in a way that doesn’t lead to cost overruns or increase risk. Cloud usage and therefore costs will continue to rise to keep pace with innovation. It’s up to enterprises to invest wisely in tools that will lead to more efficient operations. Modern tools that are both cost-effective and flexible will enable organizations to gain meaningful ROI on cloud technologies.” 

For more information on Couchbase’s cloud research, visit here.

Santa Clara, Calif., – June 6, 2023– Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its first quarter ended April 30, 2023.

“We delivered a solid start to the fiscal year and are pleased that our results exceeded our guidance on all metrics,” said Matt Cain, Chair, President and CEO of Couchbase. “I am proud of the progress our team is making on our commitment to drive continued growth, increase Capella adoption, improve sales and marketing efficiency, and accelerate the pace of leverage in our model as we innovate for an exciting future.”

First Quarter Fiscal 2024 Financial Highlights

• Revenue: Total revenue for the quarter was $41.0 million, an increase of 18% year-over-year. Subscription revenue for the quarter was $38.5 million, an increase of 21% year-over-year.
• Annual recurring revenue (ARR): Total ARR as of April 30, 2023 was $172.2 million, an increase of 23% 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 85.6%, compared to 86.7% for the first quarter of fiscal 2023. Non-GAAP gross margin for the quarter was 86.4%, compared to 87.3% for the first 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 $22.5 million, compared to $19.0 million for the first quarter of fiscal 2023. Non-GAAP operating loss for the quarter was $12.9 million, compared to $13.4 million for the first quarter of fiscal 2023.
• Cash flow: Cash flow used in operating activities for the quarter was $7.2 million, compared to $8.6 million in the first quarter of fiscal 2023. Capital expenditures were $1.3 million during the quarter, leading to negative free cash flow of $8.5 million, compared to negative free cash flow of $9.4 million in the first quarter of fiscal 2023.
• Remaining performance obligations (RPO): RPO as of April 30, 2023 was $165.6 million, a change of (2)% year-over-year.

Recent Business Highlights

• Introduced an integration with Netlify and a new Visual Studio Code extension for Couchbase Capella. These ecosystem enhancements make it easier for developers and development teams to build modern applications on Capella, streamline their workflows and increase productivity.
• Announced the broadening of Capella’s enterprise features and capabilities so customers can more easily migrate their applications. This includes support for time series data, extending deployability and enhanced management. The new features collectively position Capella as a single, comprehensive cloud database platform that offers broad multimodel support and in-memory performance, which is a powerful combination that lowers TCO for customers.
• Introduced the Couchbase Independent Software Vendor (ISV) Starter Factory. This program supports ISVs with additional tools and resources required to build and monetize their applications with Capella on Amazon Web Services (AWS).
• Announced the availability of Capella in the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure. Couchbase customers can now take advantage of the productive and trusted Azure cloud platform with streamlined deployment and management.

Financial Outlook

For the second quarter and full year of fiscal 2024, Couchbase expects:

			Q2 FY2024 Outlook			FY2024 Outlook
Total Revenue			$41.2-41.8 million			$171.7-174.7 million
Total ARR			$176.0-179.0 million			$191.5-195.5 million
Non-GAAP Operating Loss			$10.9-10.1 million			$43.0-39.0 million

 

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 2024 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 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Tuesday, June 6, 2023, 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.

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 attributable to common stockholders and non-GAAP net loss per share attributable to common stockholders: 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 and restructuring charges. 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.

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 updated our definition of ARR beginning in the third quarter of fiscal 2023 to clarify that the 90-day actual consumption methodology is only used after a customer’s initial year. The reason for this change is to better reflect the ARR for Couchbase Capella products following the launch of Couchbase Capella in fiscal 2022. ARR for prior periods have not been adjusted to reflect these changes as they are not material to any period previously presented.

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; 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, 2023. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2023 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)

	Three Months Ended April 30,
	2023	2022
Revenue:
License	$4,943	$5,007
Support and other	33,599	26,974
Total subscription revenue	38,542	31,981
Services	2,454	2,872
Total revenue	40,996	34,853
Cost of revenue:
Subscription(1)	3,673	2,396
Services(1)	2,249	2,255
Total cost of revenue	5,922	4,651
Gross profit	35,074	30,202
Operating expenses:
Research and development(1)	15,383	14,421
Sales and marketing(1)	32,553	26,843
General and administrative(1)	9,625	7,926
Restructuring(1)	46	—
Total operating expenses	57,607	49,190
Loss from operations	(22,533)	(18,988)
Interest expense	(25)	(25)
Other income (expense), net	1,433	(556)
Loss before income taxes	(21,125)	(19,569)
Provision for income taxes	750	265
Net loss	$(21,875)	$(19,834)
Net loss per share, basic and diluted	$(0.48)	$(0.45)
Weighted-average shares used in computing net loss per share, basic and diluted	45,843	44,265
(1)Includes stock-based compensation expense as follows:
	Three Months Ended April 30,
	2023	2022
Cost of revenue—subscription	$ 193	$122
Cost of revenue—services	145	94
Research and development	2,768	1,899
Sales and marketing	3,241	1,987
General and administrative	2,928	1,348
Restructuring	1	—
Total stock-based compensation expense	$9,276	$5,450

 

Couchbase, Inc.

Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)

	As of April 30, 2023	As of January 31, 2023
Assets
Current assets
Cash and cash equivalents	$46,240	$40,446
Short-term investments	117,403	127,856
Accounts receivable, net	42,212	39,847
Deferred commissions	12,814	13,096
Prepaid expenses and other current assets	6,839	8,234
Total current assets	225,508	229,479
Property and equipment, net	8,032	7,430
Operating lease right-of-use assets	6,233	6,940
Deferred commissions, noncurrent	8,089	7,524
Other assets	1,608	1,666
Total assets	$249,470	$253,039
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable	$6,865	$1,407
Accrued compensation and benefits	8,495	12,641
Other accrued expenses	4,813	6,076
Operating lease liabilities	3,060	3,117
Deferred revenue	78,540	71,716
Total current liabilities	101,773	94,957
Operating lease liabilities, noncurrent	3,873	4,543
Deferred revenue, noncurrent	2,874	3,275
Total liabilities	108,520	102,775
Stockholders’ equity
Preferred stock	—	—
Common stock	—	—
Additional paid-in capital	573,791	561,547
Accumulated other comprehensive loss	(490)	(807)
Accumulated deficit	(432,351)	(410,476)
Total stockholders’ equity	140,950	150,264
Total liabilities and stockholders’ equity	$249,470	$253,039

 

Couchbase, Inc.

Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)

 

	Three Months Ended April 30,
	2023	2022
Cash flows from operating activities
Net loss	$(21,875)	$(19,834)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization	890	739
Stock-based compensation, net of amounts capitalized	9,276	5,450
Amortization of deferred commissions	4,540	4,009
Non-cash lease expense	772	648
Foreign currency transaction (gains) losses	(84)	974
Other	(746)	198
Changes in operating assets and liabilities
Accounts receivable	(2,274)	11,781
Deferred commissions	(4,824)	(3,798)
Prepaid expenses and other assets	1,405	312
Accounts payable	5,458	731
Accrued compensation and benefits	(4,060)	(8,112)
Accrued expenses and other liabilities	(1,256)	(71)
Operating lease liabilities	(826)	(666)
Deferred revenue	6,423	(968)
Net cash used in operating activities	(7,181)	(8,607)
Cash flows from investing activities
Purchases of short-term investments	(7,821)	(53,630)
Maturities of short-term investments	19,423	9,600
Additions to property and equipment	(1,288)	(799)
Net cash provided by (used in) investing activities	10,314	(44,829)
Cash flows from financing activities
Proceeds from exercise of stock options	1,917	2,614
Proceeds from issuance of common stock under ESPP	847	3,525
Net cash provided by financing activities	2,764	6,139
Effect of exchange rate changes on cash, cash equivalents and restricted cash	(103)	(719)
Net increase (decrease) in cash, cash equivalents and restricted cash	5,794	(48,016)
Cash, cash equivalents, and restricted cash at beginning of period	40,989	96,231
Cash, cash equivalents, and restricted cash at end of period	$46,783	$48,215
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown above:
Cash and cash equivalents	$46,240	$47,672
Restricted cash included in other assets	543	543
Total cash, cash equivalents and restricted cash	$46,783	$48,215

 

Couchbase, Inc.

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

 

	Three Months Ended April 30,
	2023	2022
Reconciliation of GAAP gross profit to non-GAAP gross profit:
Total revenue	$40,996	$34,853
Gross profit	$35,074	$30,202
Add: Stock-based compensation expense	338	216
Add: Employer taxes on employee stock transactions	10	2
Non-GAAP gross profit	$35,422	$30,420
Gross margin	85.6%	86.7%
Non-GAAP gross margin	86.4%	87.3%

 
 

	Three Months Ended April 30,
	2023	2022
Reconciliation of GAAP operating expenses to non-GAAP operating expenses:
GAAP research and development	$15,383	$14,421
Less: Stock-based compensation expense	(2,768)	(1,899)
Less: Employer taxes on employee stock transactions	(108)	(24)
Non-GAAP research and development	$12,507	$12,498
GAAP sales and marketing	$32,553	$26,843
Less: Stock-based compensation expense	(3,241)	(1,987)
Less: Employer taxes on employee stock transactions	(120)	(36)
Non-GAAP sales and marketing	$29,192	$24,820
GAAP general and administrative	$9,625	$7,926
Less: Stock-based compensation expense	(2,928)	(1,348)
Less: Employer taxes on employee stock transactions	(29)	(71)
Non-GAAP general and administrative	$6,668	$6,507
GAAP restructuring expense	$46	$—
Less: Restructuring (2)	(46)	—
Non-GAAP restructuring	$—	$—

 
 

	Three Months Ended April 30,
	2023	2022
Reconciliation of GAAP operating loss to non-GAAP operating loss:
Total revenue	$40,996	$34,853
Loss from operations	$(22,533)	$(18,988)
Add: Stock-based compensation expense	9,275	5,450
Add: Employer taxes on employee stock transactions	267	133
Add: Restructuring (2)	46	—
Non-GAAP operating loss	$(12,945)	$(13,405)
Operating margin	(55)%	(54)%
Non-GAAP operating margin	(32)%	(38)%

 
 

	Three Months Ended April 30,
	2023	2022
Reconciliation of GAAP net loss to non-GAAP net loss:
Net loss	$(21,875)	$(19,834)
Add: Stock-based compensation expense	9,275	5,450
Add: Employer taxes on employee stock transactions	267	133
Add: Restructuring (2)	46	—
Non-GAAP net loss	$(12,287)	$(14,251)
GAAP net loss per share	$(0.48)	$(0.45)
Non-GAAP net loss per share	$(0.27)	$(0.32)
Weighted average shares outstanding, basic and diluted	45,843	44,265
(2)For the three months ended April 30, 2023, stock-based compensation expense related to restructuring charges were 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):

 
 

	Three Months Ended April 30,
	2023	2022
Net cash used in operating activities	$(7,181)	$(8,607)
Less: Additions to property and equipment	(1,288)	(799)
Free cash flow	$(8,469)	$(9,406)
Net cash provided by (used in) investing activities	$10,314	$(44,829)
Net cash provided by financing activities	$2,764	$6,139

 
 

Couchbase, Inc.

Key Business Metrics
(in millions)
(unaudited)

 

	Jan. 31,	April 30,	July 31,	Oct. 31,	Jan. 31,	April 30,
	2022	2022	2022	2022	2023	2023
Annual Recurring Revenue	$132.9	$139.7	$145.2	$151.7	$163.7	$172.2

 

 

• ​​Netlify Integration and VS Code Extension to Simplify Modern Application Development with Capella
• Native Support for Time Series Data in Couchbase JSON, Enhanced Data Compression and More Efficient SQL++ Analytics to Address More Use Cases
• New Enterprise Features Broaden Application Workloads and Extend Enterprise Deployability, Lowering Total Cost of Ownership (TCO)

SANTA CLARA, Calif., June 1, 2023 — Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced a broad range of enhancements to its industry-leading Database-as-a-Service Couchbase Capella™. The newest release of Capella will be accessible by popular developer platform Netlify and features a new Visual Studio Code (VS Code) extension, making it easier for developers and development teams to build modern applications on Capella, streamline their workflows and increase productivity. Coinciding with National Cloud Database Day, Couchbase is also extending its enterprise deployability and introducing new features, allowing customers to move more applications to Capella with a lower TCO. 

“The reality is that developers don’t want to spend their time operating and integrating separate primitives. Capella’s new developer platform integrations aim to address this widespread issue, minimizing the developer experience gap and allowing teams to focus on what they do best — writing code and solving problems,” said Rachel Stephens, senior analyst at RedMonk.

Simplifying the Developer Experience With Netlify, VS Code and Capella 

Findings from Couchbase’s recent developer survey reveal that the majority of developers (94.9%) are currently at or over their work capacity and are on the brink of or already feeling overwhelmed. To reduce this friction and help developers lower their number of operational tasks, Couchbase is extending Capella to more of the developer platform ecosystem that is highly favored by frontend and full stack developers. 

The new integration for Capella makes it easy for developers to connect to Netlify for more simplified and agile web application development. In addition, the new VS Code extension is designed to provide a seamless experience for Capella users who want to work within the popular source-code editor. These ecosystem enhancements are now available and reduce friction so that developers can focus on building innovative modern apps. 

“Netlify’s platform unites an extensive ecosystem of technologies, services and APIs into one workflow to empower developers to build composable web experiences with the tools that best suit their needs. In this way, Netlify meets their users where they are, allowing them to embrace the composable web in a manner that respects their existing businesses, while also balancing flexibility and enterprise-grade reliability. I’m a strong believer that when the ecosystem wins, we all win. That’s why we’re so excited to deepen our ties with Couchbase to strengthen and diversify the ecosystem of tools developers are using to build the modern web,” said Chris Bach, co-founder and chief strategy and creative officer at Netlify.

Broader Enterprise Deployability and New Enterprise Features

Couchbase is also broadening Capella’s enterprise features and deployability so customers can move more applications to the cloud database platform. The new Capella enhancements deliver the following benefits:

• Support for time series data. A new time series array function in Couchbase’s support for JSON will enable a broader set of use cases, such as IoT or finance apps. By using time series arrays, Couchbase is able to utilize all of its data access, processing and storage features including its patented array indexing and high-density storage engine. This approach will enable development teams to quickly and easily extend new features to their applications without adding complexity to their architecture or infrastructure, allowing them to be more agile and productive while driving cost efficiency. 
• Extending deployability of Capella. Couchbase has added over 10 new supported regions across the three major cloud service providers and larger instance sizes. Capella is also available directly in each of their marketplaces. Capella adds support for memory-only buckets (ephemeral databases) for caching and transient data use cases. Security and compliance capabilities are enhanced through Google Cloud HIPAA compliance and with private endpoints for Azure.
• Enhanced management. Managing Capella is even easier now with the introduction of dynamic disk scaling, hibernation of clusters and the enabling of downloadable buckets. Also new is change data capture, which recognizes and automates change history on documents. This is then streamable via Kafka to other applications. 

These enhancements collectively position Capella as a single, comprehensive cloud database platform that offers broad multimodel support and in-memory performance — a powerful combination that lowers TCO for customers. 

“We continue to broaden the Capella capabilities and make it easier for new developers to come on board and take advantage of our industry-leading cloud database platform,” said Scott Anderson, SVP of product management and business operations at Couchbase. “Development teams can get started with Capella more quickly and do more with our cloud database platform, improving efficiency and productivity. And for operations teams, Capella becomes even easier to deploy and manage while broadened enterprise capabilities handle more workloads at a fraction of the cost compared to other document-based DBaaS offerings.” 

The new release of Capella will be generally available in the second quarter. Couchbase will host a webcast on June 7 and 8 to discuss what’s new in Capella and how customers can benefit from the latest enhancements. Register here.

Additional Resources

• Read more about what’s new in Capella in this blog post here.
• See how fast and easy it is to get started with Capella by clicking here to start a free trial.

Find out how Capella compares to the competition and how it can bring great performance to a variety of workloads here.

 

Santa Clara, Calif., May 18, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that Company management will participate in upcoming investor conferences. 

Chair, President and CEO Matt Cain will present at the William Blair 43rd Annual Growth Stock Conference in Chicago, Illinois. The presentation will take place on Thursday, June 8, 2023 at 10:00 a.m. CT / 11:00 a.m. ET. Couchbase management will also participate in investor meetings. 

Additionally, Chief Financial Officer Greg Henry will participate in the Baird 2023 Global Consumer, Technology & Services Conference in New York, New York. The presentation will take place on Thursday, June 8, 2023 at 6:05 a.m. PT / 9:05 a.m. ET. Couchbase management will also participate in investor meetings.

Live webcasts and replays for both presentations will be available on the Company’s investor relations website.

Investor Contact:
Edward Parker
ICR, Inc.
IR@couchbase.com

Santa Clara, Calif., May 17, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced that it will report financial results for its first fiscal quarter ended April 30, 2023 on Tuesday, June 6, 2023 after market close.

Couchbase will host a conference call and webcast at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on the same day to discuss its financial results. The conference call can be accessed by dialing 877-407-8029 from the United States, or +1 201-689-8029 from international locations. The webcast and a webcast replay can be accessed from the investor relations page of Couchbase’s website at investors.couchbase.com.

Investor Contact:
Edward Parker
ICR, Inc.
IR@couchbase.com

SANTA CLARA, Calif., – May 11, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced findings from new industry research commissioned by Couchbase examining the trends, challenges and opportunities developers who build with databases are experiencing in their roles. The April 2023 survey of 533 U.S.-based software developers – composed of professionals ranging from individual contributors to C-levels – revealed that 9 out of 10 developers are at or over their work capacity and calling for automation and SQL-based database query tools to help them boost productivity. Additionally, a majority of respondents (86%) with roles at manager-level and above indicated they are currently facing challenges hiring developers with the right skill set.

With so many developers at or over their work capacity, only 5.1% responded they have the ability to take on more projects. As developers’ overall workload increases, more developers are also taking on tasks outside of their normal purview. Specifically, when developers were asked if their responsibilities have been affected in the past 12 months, 3 out of 4 shared they sometimes or consistently take on responsibilities outside of their job description. Of the developers whose roles have seen an increase in workload, more than half (54.1%) are experiencing increased stress, 43.8% are overwhelmed, 40.2% are feeling burned out and 31.3% express a lack of work-life balance. To address the challenges developers are experiencing in their roles, the survey findings reveal many are pointing to automation along with SQL-based database tools as the top two ways to increase their productivity.

“As the pace of digital innovation continues to accelerate, it’s no surprise that developers want more automation and familiar, easy-to-learn tools to help them keep up with their day-to-day workflows,” said Perry Krug, head of developer experience at Couchbase. “Automating repetitive, lower-value tasks frees up developers’ availability to redirect their time and talent to higher-value projects like creating business-critical applications. At Couchbase, we also see firsthand the immense benefit of providing developers with tools that leverage the SQL++ query language – developers are able to ramp up quickly and build applications without a ‘speed bump’ or steep learning curve.”

Additional key findings from the survey include:

• A majority of respondents (87.2%) still use legacy relational databases as their primary database to build applications, and they are actively looking for more flexibility and agility. The factors developers say would influence them to explore non-relational databases (e.g., NoSQL) include speed, flexibility, security, scalability and cost savings.
• In the coming year, developers aim to prioritize increasing scalability, reducing costs and maintaining data governance compliance for their database infrastructure.
• The top internal challenges faced by developer teams include talent shortages, the need to ask for access to data or other systems and meeting ever-growing compliance requirements.
• Hiring managers say the top three technical skills required to build modern applications are cloud-based technologies, SQL and experience working with teammates throughout the data lifecycle. However, as the employment landscape continues to evolve, 86% of managers and above report that hiring developers with the right skill set remains a significant challenge.
• Companies are addressing the developer experience gap by offering mentorship and training programs, with 71.6% of respondents stating their companies provide such opportunities. When looking for a new job, developers consider these top three factors as priorities: work-life balance, compensation and company culture.

To download the survey infographic, click here.

Additional Resources

• Developers can learn more about how easy it is to build modern apps with the Couchbase Capella™ database-as-a-service here.
• Learn more about Couchbase Academy, including role-specific training courses for developers, architects and database administrators, as well as certification here.
• For more information about Capella and to start a free trial, visit this page.

SANTA CLARA, Calif. – May 4, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced the availability of Couchbase Capella™ Database-as-a-Service (DBaaS) in the Microsoft Azure Marketplace, an online store providing applications and services for use on Azure. Couchbase customers can now take advantage of the productive and trusted Azure cloud platform with streamlined deployment and management.

Capella is a fully managed JSON document and key-value database with SQL access and built-in full-text search, eventing and analytics. It easily supports a broad range of modern application use cases with multi-model and mobile synchronization capabilities and allows customers to use the programming language of their choice. Furthermore, Capella’s memory-first architecture drives blazingly fast millisecond data responses at scale, resulting in best-in-class price performance of any fully managed document database. With Capella on Azure, customers can improve alignment with modern applications and support hybrid and multicloud strategies from a single platform.

“We continue to invest in our industry-leading Capella DBaaS, including making it more accessible for customers, improving the developer experience and supporting enterprises,” said Scott Anderson, senior vice president of product management and business operations at Couchbase. “Debuting Capella in the Microsoft Azure Marketplace means we can streamline and simplify the process for customers to adopt our cloud database platform and deploy applications on their cloud of choice. We believe offering Capella in the Microsoft Azure Marketplace will accelerate adoption and bring the power of Couchbase to more organizations.”

Jake Zborowski, General Manager, Microsoft Azure Platform at Microsoft Corp. said, “We’re pleased to welcome Couchbase to the Microsoft Azure Marketplace, which gives our partners great exposure to cloud customers around the globe. Azure Marketplace offers world-class quality experiences from global trusted partners with solutions tested to work seamlessly with Azure.”

The Azure Marketplace is an online market for buying and selling cloud solutions certified to run on Azure. The Azure Marketplace helps connect companies seeking innovative, cloud-based solutions with partners who have developed solutions that are ready to use.

Capella is now generally available in the Azure Marketplace here. Please visit this page for more information about the benefits of Capella on Azure.

Additional Resources

• Start a free trial of Capella today by clicking here. 
• Read more about how customers are modernizing with Couchbase here. 
• Developers can learn more about building modern applications with Capella here.

SANTA CLARA, Calif., May 4, 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced the Couchbase Independent Software Vendor (ISV) Starter Factory. The new program supports ISVs with additional tools and resources required to build and monetize their applications with Couchbase Capella™ Database-as-a-Service (DBaaS) on Amazon Web Services (AWS). Couchbase and AWS have invested resources into the ISV Starter Factory including technical proof-of-value workshops, proofs of concept (PoCs), training, certifications, best practices and aligning System Integrators (SIs) that are part of the AWS Partner Network program.

The unique combination of a cloud database vendor, cloud services provider and select SIs provides an end-to-end program for ISVs that streamlines ISV migration efforts to Capella on AWS. The ISV Starter Factory builds on the momentum from Couchbase’s recently enhanced ISV Partner Program in conjunction with Couchbase’s expanded relationship with AWS, which offers customers integrated go-to-market activities, commercial incentives and technology integrations including support for migrating workloads to the Capella offering on AWS. 

“With Capella on AWS, we benefit from lower total cost of ownership and increased efficiency for our development team. The cost savings, ease of use and scalability of Capella on AWS allows us to perform frequent software releases so we can stay ahead of competitors while exceeding our customer expectations,” said Mike Orlando, CEO at Yapstone. “With the launch of the ISV Starter Factory, app builders will now be able to leverage benefits such as custom PoCs and specialized training and certifications in a programmatic manner to give their application a fast start to monetization. This will help developers to locate the resources needed to quickly and easily build applications that deliver immense value to their customers.”

According to a McKinsey study, companies with high developer velocity grew revenue four to five times faster than those with low velocity. For ISVs, developing market-leading apps that need to evolve rapidly can be difficult. Adding features and increasing differentiation can be at the expense of developer agility when the database does not perform or scale to meet their needs. Additionally, some vendors provide limited services for ISVs, which are typically disaggregated and can end up creating more roadblocks for their development teams.

Couchbase’s ISV Starter Factory reduces this complexity, making it easier to modernize and migrate apps. It is a single place for organizations looking for a developer-friendly solution to build applications. Capella also addresses challenges around cloud infrastructure and migration services. Couchbase’s flexible and cost-efficient cloud database Capella, paired with AWS’s scale and compute power, allows ISVs to establish and expand their business at a compellingly low total cost of ownership. Customers’ development speed and agility are also enhanced as Capella enables teams to consolidate their solutions — saving time and budget.

Carol Potts, Head of North America Independent Software Vendor and Digital Native Business Segments at AWS, said, “In today’s digital economy, applications are the modern framework for all commerce. We are delighted to be working with Couchbase to help customers build modern applications that are always on and can extend anywhere — from cloud to edge to mobile and IoT devices and anywhere in between.”

Couchbase ISV partners can take advantage of the capabilities of Capella and Capella App Services on AWS, including:

• SQL-like experience for modern applications: With a familiar foundation, developers aren’t required to learn new coding languages and processes, which helps close the skills gap. 
• Securely sync data from any cloud to the edge: Capella App Services allows developers to store, query, search and analyze data in the cloud, at the edge or on IoT devices regardless of internet connectivity and speed. This enables applications that are always fast and always on. 
• Multi-data models: Capella makes development faster and easier by providing multiple services within one platform including document, key-value, full-text search and eventing.

“As part of our growing momentum with AWS, we’re excited to equip our ISV partners with industry-leading resources to help propel their application development journeys forward, turning theory into action,” said Matt McDonough, senior vice president of business development and strategy at Couchbase. “Support from AWS and participating SIs enables our ISV Starter Factory to provide ISVs with programmatic support to productionize and monetize their applications with faster time to market.”

To enroll in Couchbase’s ISV Starter Factory with AWS, interested parties can reach out here. 

Additional Resources

• To find out about all the ways customers can modernize with Capella and AWS, visit this page.
• Read more about Couchbase’s enhanced ISV Partner Program on this page.
• Developers can learn more about how to build modern applications with Capella here.

Manchester, UK – 3 April 2023 – Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today underlined its continued support for organisations across Europe by announcing Robert Ekstrom as Vice President, Europe. In this role, Ekstrom will be responsible for sales growth and revenue generation across the region.

Ekstrom brings more than 20 years of global experience to the role and will closely support customers as they innovate their modern applications. He specialises in driving commercial success across the key sales-supporting areas of businesses and heading up key regional divisions. Ekstrom joins from integration service provider Workato and previously held senior roles at ServiceNow and Dell EMC.

Couchbase is also expanding its commitment in the region by growing its Manchester-based facility to provide more support for global customers. The Manchester workspace now totals over 10,000 square feet. And over the last year, Couchbase has grown headcount in the UK by more than 30%, with over 50% based at the Manchester office including core teams across engineering, support, business development, product management and more.

“The pressure on organisations throughout Europe to continuously innovate with modern applications and support digital transformation journeys for their customers will not subside any time soon,” comments Huw Owen, Chief Revenue Officer at Couchbase, who is based in the UK. “I’m thrilled that with our new vice president for the region, Robert, and a deeper investment in Manchester, Couchbase is primed to provide even more innovation and support for customers.”

“Robert’s vision for the European market, alongside his expertise and regional knowledge, makes him an ideal fit for Couchbase,” adds Owen.

“I’m excited to join Couchbase and support some of the world’s leading companies with our Couchbase Capella™ Database-as-a-Service,” comments Ekstrom. “The requirement for powerful and cost-efficient databases has never been more prominent. As more organisations look for cloud-based, managed services, Couchbase is well positioned to deliver this next phase of implementation.”

The expanded Manchester base also benefits from recently recruited roles across research and development, as well as technical support. “We’ve been lucky enough to be closely linked with Manchester for almost 10 years, and I’m delighted that we will continue to build on this by expanding office space in the city,” adds Owen.

Couchbase is hiring. To join the company’s world-class team, please check out available positions here.

Additional Resources

• Read more about how customers are modernising with Couchbase here.
• For more information about Couchbase Capella DBaaS and to start a free trial, please visit this page.
• Developers can learn more about how to build modern applications with Capella here.