Archives: Press Releases

Couchbase Introduces New Operational Efficiencies, Dramatically Reducing Deployment Costs for Modern Applications

SANTA CLARA, CALIF. – May 10, 2022 – Couchbase, Inc. (NASDAQ: BASE), a leading modern database provider for enterprise applications, announced version 7.1 of Couchbase Server. Available today, the new release delivers incredible advancements in performance, storage capacity and workload breadth, including expanded operational analytics support with direct Tableau integration–all while dramatically reducing deployment cost. With Couchbase Server 7.1, enterprise architects and development teams significantly reduce the cost of building and running applications while gaining compelling operational efficiency.

“More organizations are experiencing the drawbacks of deploying first-generation cloud architectures, and one of the main disadvantages is the cost of cloud instance sprawl,” said Ravi Mayuram, chief technology officer at Couchbase. “As a result, companies today are looking to consolidate infrastructure resources to spend less and reduce the complexity of their data architectures with multimodel databases. This release does that and more, helping to shrink cluster sizes while providing higher throughput, larger data capacity and easier access to active analytics through Tableau. With Couchbase Server 7.1, modern applications can become both smarter and more cost-efficient.”

The new Couchbase Server 7.1 enhancements provide better performance while reducing the number of cluster nodes required to handle larger volumes of data. It delivers an extremely affordable total cost of ownership compared to other multimodel NoSQL alternatives. Customers will benefit from the following:

  • Improved cluster efficiency and performance which lowers deployment costs by introducing a new high-density storage engine that increases node storage capacity by more than 3x, increases write throughput by 4x and lowers memory consumption by 10x. Customers can dramatically drive down cluster costs, size and complexity. This means that existing clusters can become up to 10 times more efficient while handling three times more data. In addition, new clusters can start smaller using lower commodity hardware instances, and grow more efficiently, giving customers the ability to be significantly more cost-efficient in supporting classic database use cases.
  • Increased support for conventional database capabilities such as improved backup service for better data availability and JavaScript-based user-defined functions (UDFs) for better separating of functional processing from storage management.
  • Expanded support for ARM processors, offering higher performance while lowering power consumption and reducing cloud operating expenses. Customers can develop containerized, Couchbase-powered applications on local Apple M1 systems and easily deploy them to AWS Graviton-based instances. This practice can further reduce customer infrastructure costs by up to 50%.

“Some database companies only offer specialized databases for very specific workloads. Couchbase has significantly reduced the divide between relational and NoSQL data by designing a platform that enables JSON-based transactional and analytical data to reside in a single system,” said Carl Olofson, research vice president of data management software at IDC. “While Couchbase is a NoSQL-based system, the 7.1 release advances its ability to provide customers with a multimodel database capable of both transactions and analytics with flexibility, scalability and performance while reducing deployment costs.”

Enhanced Operational Analytics with Direct Tableau Integration

Modern organizations require operational processing of transactions, interactions and analytics upon active data to meet the intelligence and performance demands of their global business. A new direct Tableau connector enables operational analytics in Couchbase, providing the easiest and most effective approach to analyzing active JSON data within its operational data store, without interfering with operational performance and without moving the data. Users can create tabular views using SQL++, develop visualizations in Tableau and perform rich, interactive analyses to derive insight from active operational data.

“Integrating Tableau’s leading analytics platform with Couchbase’s leading modern database will provide customers with an easy way to see and understand their data,” said Brian Matsubara, vice president of global technology alliances at Tableau. “Together, we can provide fast and easy visualization of our customers’ Couchbase JSON data using a new connector to help make it easier to access enterprise data in near real-time. Customers can now create tabular views in Couchbase, develop visualizations and dashboards in Tableau and perform rich interactive analyses to derive even more insight from operational analytics.”

Couchbase Server 7.1 is available today and can be downloaded here.

Additional Resources:

  • For more information about what’s new in Couchbase Server 7.1, read this blog post.
  • Register for a webinar with guest analyst Boris Evelson from Forrester Research in the US, EMEA or APAC time zones.
  • Read more about how customers are modernizing with Couchbase here
  • Read the 5th Annual Couchbase Digital Transformation research report here

Digital Transformation Investment Set to Increase by 46% Over the Next 12 Months, Couchbase Research Finds

SANTA CLARA, CALIF. – May 10, 2022 – Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today released the results of its fifth annual survey on enterprise digital transformation. The global survey of 650 IT leaders found that, despite the challenges of the last two years, enterprises have made significant progress. Seventy-nine percent of enterprises have made significant, transformative or even revolutionary improvements to the end user experience through digital transformation over the past year, compared to 73% in 2019 and 72% in 2020. And the outlook is optimistic – on average, enterprises plan to increase their investment in digital transformation by 46% over the next 12 months.

However, enterprises still need to be aware of digital transformation challenges. Eighty-one percent of enterprises had digital transformation projects fail, suffer delays or be scaled back in the past year, at an average cost of $4.12 million. A further 82% were prevented from pursuing digital transformation projects that they wanted to implement due to factors such as a lack of resources or funds (reported by 26%), a lack of skills to deliver the project (24%) or the complexity of implementing technologies (23%).

The consequences of these failed or missed projects can be more than wasted funds. Fifty-five percent of enterprises that suffered issues with their digital transformation projects had to delay their strategic goals by three months or more, or reset them completely. Other potential consequences of failing to keep pace identified by respondents include losing valuable staff to more innovative competitors – whether in IT (41%) or other areas of the business (40%); struggling to secure finance or undergo a successful IPO (31%); or going out of business or being absorbed by a competitor (26%).

“The progress in organizations’ digital transformation ambitions over the past 12 months is clear, and there’s a bright future ahead,” said Ravi Mayuram, chief technology officer at Couchbase. “Ideally we’ll now begin to see enterprises putting into practice projects and ideas that weren’t previously considered possible. For this to become reality, organizations need to learn the lessons of the last two years and address the challenges they face, or a large proportion of that 46% increase in investment may be wasted, too. IT teams need support from across the business, together with the resources they need, and the right skills and technology to succeed. From embracing the cloud, to making the best use of data, enterprises that can make use of new technologies will be best placed to thrive.”

Lessons Learned

The past two years have had a transformative impact on IT teams. Ninety-five percent of respondents have implemented or investigated digital transformation opportunities that would not have been realistic at the end of 2019 – from hybrid working (nearly 47%) to moving to the cloud (46%), replacing legacy technology and processes (42%), changing the way the business operates (36%) and creating new business offerings (35%). Other findings included:

  • 99% of enterprises say they learned lessons from the pandemic: including the importance of supporting remote and hybrid working (45%); the need for continuous investment and research in digital transformation technologies (41%); and how to better engage the wider business in digital transformation strategy (34%).
  • Investment priorities are shifting compared to 2019: While security is still the top priority for enterprises, and hybrid working received an understandable boost, modernizing existing technology has fallen as a priority, while adopting new technologies has grown – suggesting enterprises recognize they need completely new, modern tools in order to face the future.
  • Ways of working have changed: 88% of respondents say their digital transformation goals have fundamentally changed over the last two years; 95% have accelerated their application modernization strategies; 90% have changed the way they budget for digital transformation; and 93% say digital transformation projects over the last two years represent permanent changes to the way their business’s way of operating or working.
  • End users are the focus: 88% of respondents said their digital transformation projects had been driven more by changes in user behavior than by creating new business opportunities.

“This is an exciting time for the IT industry. We are entering a period of extreme creativity, as organizations shift from digital transformation driven by reacting to outside events, such as the pandemic or competitors’ progress, to a more proactive approach driven by ideas from within the business,” continued Ravi Mayuram. “For this new creativity to work, it needs to be driven from the top. Digital transformation shouldn’t only be aligned to strategic goals. As a transformative business asset it needs to be the responsibility of, and driven by, the whole C-suite, rather than left solely in IT’s hands. If businesses can do this and put the lessons they learned from the last two years into practice, then the future looks very bright indeed.”

Read the full Couchbase report here.

Couchbase Awarded UK’s Best Workplaces™ Recognition

SANTA CLARA, CALIF. – April 27, 2022 – Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced it has been recognised as the number 57 out of 105 of the UK’s Best Medium Size Workplaces™ (2022) by Great Place to Work®, the global authority on workplace culture.

93% of UK employees say that Coucbase is a great place to work in response to Great Place to Work’s 2022 survey, an outstanding achievement compared to 57% of UK employee favorability at a typical U.S.-based company. People, values, culture and team were the most frequently cited aspects across employee reviews that led to Couchbase’s strong showing.

“At Couchbase, we pride ourselves on our culture and values which extend across our Manchester and London offices as well as those working remotely in the UK,” said Huw Owen, Vice President and General Manager of EMEA, Couchbase. “This award is a testament to our world-class UK team and we’re continually investing in hiring top talent to build on this momentum. We are looking forward to expanding our team so we can continue to develop next-generation database technology for today’s leading modern enterprises. Thank you to all our employees who helped us achieve this award.”

“Even in times of uncertainty, at Best Workplaces™ the shared mantra of ‘purpose over profit’ has stood firm,” said Benedict Gautrey, Managing Director of Great Place to Work® UK. “We’re incredibly proud to recognise the 290 companies on our list for their outstanding workplace cultures, and unwavering commitment to supporting employees so they can deliver the best strategic solutions to ever-changing business opportunities and challenges.”

A great workplace is more than perks, parties and amazing benefits. While those elements are present in many Best Workplace™ organisations, at its core a great workplace is about the level of trust that employees experience in their leaders, the level of pride they have in their jobs; and the extent to which they experience camaraderie with their colleagues.

To determine the 2022 UK’s Best Workplaces™ list, Great Place to Work® performed rigorous evaluations of hundreds of employee survey responses alongside Culture Audit™ submissions from leaders at each company. They then used these data insights to benchmark the effectiveness of companies’ employee value propositions against the culture their employees actually experience.

Those businesses who achieve the highest scores after evaluation receive Best Workplaces™ status.

About Great Place to Work®

Great Place to Work is the global authority on workplace culture. Since 1992, they have surveyed more than 100 million employees around the world and used those deep insights to define what makes a great workplace: Trust. For more information, visit www.greatplacetowork.co.uk

Media Contact:
James Kim
Couchbase Communications
couchbasePR@couchbase.com

Couchbase Announces Fourth Quarter and Fiscal 2022 Financial Results

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

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

Fourth Quarter Fiscal 2022 Financial Highlights

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

Full Year Fiscal 2022 Financial Highlights

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

Recent Business Highlights

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

Financial Outlook

For the first quarter of fiscal 2023, Couchbase expects:

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

For the full fiscal year 2023, Couchbase expects:

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

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

Conference Call Information

Couchbase will host a conference call and webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on Wednesday, March 9, 2022 to discuss its financial results and business highlights. To access this conference call, dial (888) 660-1027 from the United States and Canada or (409) 231-2719 internationally with conference ID: 8395512. The live webcast and a webcast replay of the conference call can be accessed from the investor relations page of Couchbase’s website at 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 and litigation-related expenses. 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 flows: We define free cash flow as cash used in operating activities less purchases of 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 excludes revenue from on-demand arrangements. Although we seek to increase ARR as part of our strategy of targeting large enterprise customers, this metric may fluctuate from period to period based on our ability to acquire new customers and expand within our existing customers. We believe that our ARR is an important indicator of the growth and performance of our business.

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 the ongoing COVID-19 pandemic. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the SEC that we may file from time to time, including those more fully described in our Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2021. Additional information will be made available in our Annual Report on Form 10-K for the year ended January 31, 2022 that will be filed with the SEC, which should be read in conjunction with this press release and the financial results included herein. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.

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 January 31, Year Ended January 31,
2022 2021 2022 2021
Revenue:
License $6,540 $5,482 $19,008 $14,032
Support and other 26,245 22,557 97,279 82,904
Total subscription revenue 32,785 28,039 116,287 96,936
Services 2,279 1,388 7,255 6,349
Total revenue 35,064 29,427 123,542 103,285
Cost of revenue:
Subscription (1) 2,311 1,961 8,529 6,074
Services (1) 1,817 1,160 6,252 5,543
Total cost of revenue 4,128 3,121 14,781 11,617
Gross profit 30,936 26,306 108,761 91,668
Operating expenses:
Research and development (1) 13,372 10,612 51,639 39,000
Sales and marketing (1) 23,658 19,103 89,372 70,248
General and administrative (1) 6,574 4,595 24,008 15,500
Total operating expenses 43,604 34,310 165,019 124,748
Loss from operations (12,668) (8,004) (56,258) (33,080)
Interest expense (26) (2,208) (656) (6,970)
Other income (expense), net (256) 890 (300) 1,111
Loss before income taxes (12,950) (9,322) (57,214) (38,939)
Provision for income taxes 286 325 1,015 1,044
Net loss $(13,236) $(9,647) $(58,229) $(39,983)
Cumulative dividends on Series G redeemable convertible preferred stock (1,480) (2,917) (4,076)
Net loss attributable to common stockholders $(13,236) $(11,127) $(61,146) $(44,059)
Net loss per share attributable to common stockholders, basic and diluted $(0.30) $(1.90) $(2.37) $(7.71)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 43,688 5,852 25,777 5,717

_______________________________

Includes stock-based compensation expense as follows:

Three Months Ended January 31, Year Ended January 31,
2022 2021 2022 2021
Cost of revenue—subscription $73 $19 $196 $69
Cost of revenue—services 80 13 196 54
Research and development 1,119 348 3,343 1,316
Sales and marketing 1,447 523 3,968 1,536
General and administrative 868 426 3,047 1,696
Total stock-based compensation expense $3,587 $1,329 $10,750 $4,671

 

Couchbase, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

As of January 31,
2022 2021
Assets
Current assets
Cash and cash equivalents $95,688 $37,297
Short-term investments 110,266 19,546
Accounts receivable, net 36,696 35,897
Deferred commissions 11,783 8,353
Prepaid expenses and other current assets 8,559 2,449
Total current assets 262,992 103,542
Property and equipment, net 4,288 6,506
Deferred commissions, noncurrent 8,243 4,941
Other assets 1,219 2,199
Total assets $276,742 $117,188
Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)
Current liabilities
Accounts payable $1,923 $2,428
Accrued compensation and benefits 16,143 9,110
Other accrued liabilities 3,231 4,154
Deferred revenue 69,010 57,168
Total current liabilities 90,307 72,860
Long-term debt 24,948
Deferred revenue, noncurrent 2,713 4,542
Other liabilities 507 1,358
Total liabilities 93,527 103,708
Redeemable convertible preferred stock 259,822
Stockholders’ equity (deficit)
Preferred stock
Common stock
Additional paid-in capital 525,392 37,410
Accumulated other comprehensive income (loss) (195) 1
Accumulated deficit (341,982) (283,753)
Total stockholders’ equity (deficit) 183,215 (246,342)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $276,742 $117,188

 

Couchbase, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Three Months Ended January 31, Year Ended January 31,
2022 2021 2022 2021
Cash flows from operating activities
Net loss $(13,236) $(9,647) $(58,229) $(39,983)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization 710 698 2,824 2,006
Amortization of debt issuance costs 240 52 717
Debt prepayment costs 625 1,000
Stock-based compensation 3,587 1,329 10,750 4,671
Amortization of deferred commissions 3,940 3,316 13,763 10,402
Foreign currency transaction (gains) losses 377 (742) 382 (931)
Other 164 62 267 132
Changes in operating assets and liabilities
Accounts receivable (14,289) (17,616) (730) (5,524)
Deferred commissions (8,867) (5,046) (20,495) (13,450)
Prepaid expenses and other assets (333) 1,379 (6,217) 56
Accounts payable (1,604) 282 (491) 925
Accrued compensation and benefits 6,213 1,611 7,030 298
Accrued expenses and other liabilities (86) 602 (493) (279)
Deferred revenue 20,772 16,338 10,013 782
Net cash used in operating activities (2,652) (6,569) (41,574) (39,178)
Cash flows from investing activities
Purchases of short-term investments (46,200) (6,348) (112,479) (20,493)
Maturities and sales of short-term investments 1,800 900 21,268 900
Purchases of property and equipment (5) (49) (819) (2,819)
Net cash used in investing activities (44,405) (5,497) (92,030) (22,412)
Cash flows from financing activities
Payments of debt (25,625) (25,000) (57,402)
Proceeds from issuance of debt, net of issuance costs 25,000 31,402
Proceeds from issuance of Series G redeemable convertible preferred stock, net of issuance costs 104,316
Proceeds from exercise of stock options 1,562 1,699 7,495 2,185
Proceeds from initial public offering, net of underwriting discounts and commissions 214,854
Payment for fractional shares in reverse stock split (9)
Payments of deferred offering costs (4,930)
Net cash provided by financing activities 1,562 1,074 192,410 80,501
Effect of exchange rate changes on cash, cash equivalents and restricted cash (257) 168 (415) 162
Net increase (decrease) in cash, cash equivalents and restricted cash (45,752) (10,824) 58,391 19,073
Cash, cash equivalents, and restricted cash at beginning of period 141,983 48,664 37,840 18,767
Cash, cash equivalents, and restricted cash at end of period $96,231 $37,840 $96,231 $37,840
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown above:
Cash and cash equivalents $95,688 $37,297 $95,688 $37,297
Restricted cash included in other assets 543 543 543 543
Total cash, cash equivalents and restricted cash $96,231 $37,840 $96,231 $37,840

 

Couchbase, Inc.

Reconciliation of GAAP to Non-GAAP Results

(in thousands, except per share data)

(unaudited)

Three Months Ended January 31, Year Ended January 31,
2022 2021 2022 2021
Reconciliation of GAAP gross profit to non-GAAP gross profit:
Total revenue $35,064 $29,427 $123,542 $103,285
Gross profit $30,936 $26,306 $108,761 $91,668
Add: Stock-based compensation expense 153 32 392 123
Non-GAAP gross profit $31,089 $26,338 $109,153 $91,791
Gross margin 88.2% 89.4% 88.0% 88.8%
Non-GAAP gross margin 88.7% 89.5% 88.4% 88.9%

 

Three Months Ended January 31, Year Ended January 31,
2022 2021 2022 2021
Reconciliation of GAAP operating expenses to non-GAAP operating expenses:
GAAP research and development $13,372 $10,612 $51,639 $39,000
Less: Stock-based compensation expense (1,119) (348) (3,343) (1,316)
Non-GAAP research and development $12,253 $10,264 $48,296 $37,684
GAAP sales and marketing $23,658 $19,103 $89,372 $70,248
Less: Stock-based compensation expense (1,447) (523) (3,968) (1,536)
Non-GAAP sales and marketing $22,211 $18,580 $85,404 $68,712
GAAP general and administrative $6,574 $4,595 $24,008 $15,500
Less: Stock-based compensation expense (868) (426) (3,047) (1,696)
Less: Litigation-related expenses (213)
Non-GAAP general and administrative $5,706 $4,169 $20,961 $13,591

 

Three Months Ended January 31, Year Ended January 31,
2022 2021 2022 2021
Reconciliation of GAAP operating loss to non-GAAP operating loss:
Total revenue $35,064 $29,427 $123,542 $103,285
Loss from operations $(12,668) $(8,004) $(56,258) $(33,080)
Add: Stock-based compensation expense 3,587 1,329 10,750 4,671
Add: Litigation-related expenses 213
Non-GAAP operating loss $(9,081) $(6,675) $(45,508) $(28,196)
Operating margin (36)% (27)% (46)% (32)%
Non-GAAP operating margin (26)% (23)% (37)% (27)%

 

Three Months Ended January 31, Year Ended January 31,
2022 2021 2022 2021
Reconciliation of GAAP net loss attributable to common stockholders to non-GAAP net loss attributable to common stockholders:
Net loss attributable to common stockholders $(13,236) $(11,127) $(61,146) $(44,059)
Add: Stock-based compensation expense 3,587 1,329 10,750 4,671
Add: Litigation-related expenses 213
Non-GAAP net loss attributable to common stockholders $(9,649) $(9,798) $(50,396) $(39,175)
GAAP net loss per share attributable to common stockholders $(0.30) $(1.90) $(2.37) $(7.71)
Non-GAAP net loss per share attributable to common stockholders $(0.22) $(1.67) $(1.96) $(6.85)
Weighted average shares outstanding, basic and diluted 43,688 5,852 25,777 5,717

 

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 January 31, Year Ended January 31,
2022 2021 2022 2021
Net cash used in operating activities $(2,652) $(6,569) $(41,574) $(39,178)
Less: Purchases of property and equipment (5) (49) (819) (2,819)
Free cash flow $(2,657) $(6,618) $(42,393) $(41,997)
Net cash used in investing activities $(44,405) $(5,497) $(92,030) $(22,412)
Net cash provided by financing activities $1,562 $1,074 $192,410 $80,501

 

Couchbase, Inc.

Key Business Metrics

(in millions)

(unaudited)

As of
Oct. 31, Jan. 31, April 30, July 31, Oct. 31, Jan. 31,
2020 2021 2021 2021 2021 2022
Annual Recurring Revenue $101.4 $107.8 $109.5 $115.2 $122.3 $132.9

 

Couchbase Appoints Cloud and Database Veteran Gopi Duddi as Senior Vice President of Engineering

Santa Clara, Calif. – March 1, 2022Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced Gopi Duddi as senior vice president of Engineering where he will oversee all product development and delivery for the company. Duddi is an established leader with nearly 25 years of experience in database software and cloud solution design, development and operations, having built and supported some of the most scaled services and applications in all of enterprise technology.

“Gopi’s deep experience delivering industry-leading cloud products with velocity and scaling highly innovative and disruptive product organizations is an outstanding fit as we continue to invest in our industry-leading modern database for enterprise applications by enhancing the developer experience and building out our database as a service, Couchbase Capella,” said Matt Cain, president and chief executive officer of Couchbase. “He has been at the forefront of cloud database development for the last decade and has a proven track record of leading teams to build and ship high-growth software products that enable digital transformation for customers. We are thrilled to welcome Gopi to the world-class Couchbase executive team.”

Duddi has significant cloud expertise, including in core database technologies, data management, machine learning and full-stack development. He was most recently general manager for AWS Analytics and Observability, where he scaled and accelerated engineering for AWS services including AWS Glue and AWS CloudWatch which were among the cloud service provider’s fastest growing products. He previously worked on the AWS Redshift team and a broad cross-section of database and analytics services including DynamoDB and Amazon Relational Database Service (Amazon RDS). Prior to AWS, Duddi held senior database engineering roles at IBM and Informix.

“Having been at a major cloud service provider for the past nine years, I have seen first hand how the market for cloud databases has accelerated and is seeing strong demand from customers as they seek greater developer agility and fewer infrastructure management responsibilities,” said Duddi. “Couchbase has a differentiated architecture that has been purpose built for the most demanding enterprise applications that need to seamlessly run from cloud to the edge, and I could not be more excited to join the team. I am passionate about helping customers solve difficult problems and look forward to applying this expertise at Couchbase.”

Couchbase Launches Couchbase Mobile 3, Making it Easier for Developers to Build Modern Applications Across Mobile, Desktop and Embedded IoT Devices

SANTA CLARA, Calif., Feb. 23, 2022 – Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced Couchbase Mobile 3, an edge-ready data platform that empowers mobile developers and edge architects to build fully native, modern applications in the cloud, at the edge and on mobile and IoT devices using the language, frameworks and platform of their choice. Couchbase Mobile 3 introduces an industry-first embedded document database for mobile, desktop and custom embedded hardware with built in synchronization capabilities. With Couchbase Mobile 3’s strengthened edge capabilities, development teams can focus on the core competency of their applications without worrying about speed and connectivity issues.

“Customers increasingly require mobile and edge capabilities to meet modern application demands and data must always be available so the app always performs at unmatched speed,” said Wayne Carter, vice president of Engineering, Couchbase. “With Couchbase Mobile 3, we have simplified development and management of complex data synchronization tasks. Our first of its kind, modern embedded database allows customers to easily build dynamic applications from the cloud to the edge, while leveraging their existing skills and code.”

Enhancing Mobile and Edge Capabilities for Customers’ Modern Applications

Applications that rely solely on centralized cloud data centers for processing and storing data are subject to latency and downtime whenever internet connectivity is slow or frequently interrupted. Requirements for high availability and sub-second response times are nearly impossible – or unfeasibly expensive – to meet with only cloud computing. Couchbase Mobile 3’s edge computing capabilities address these issues by moving data and compute closer to where it’s being used, even while in motion, making applications faster and more resilient by eliminating dependencies on distant cloud data centers.

With offline-first capabilities for applications, Couchbase Mobile 3 uniquely ensures data integrity by automatically synchronizing data across the entirety of an organization’s edge and mobile infrastructure, with or without internet connectivity. This means organizations across industries can quickly and easily develop and deploy applications that meet the requirements for stringent governance and security, while enabling end-users to retain a first class experience with applications that are always on and always fast.

“Couchbase Lite’s C-API support is critical for us. We use it to embed Couchbase in all our Synergy systems to have a universal platform across all of our devices,” said Gregory St. Clair, software architect, Arthrex. “The ability to configure Sync Gateway in hundreds of hospitals all over the world through a nice REST interface gives us a critical ability to quickly and easily manage those individual deployments. It is another much appreciated feature.”

Another modern application example made possible by Couchbase is an airline that can digitize its pre-flight check process by embedding Couchbase Mobile 3 onto tablets for recording inspections. Data is then synchronized to other crew tablets in real-time – even when devices are disconnected – improving accuracy and safety while ensuring on-time departure.

Couchbase Mobile 3 delivers a single, universal platform that enables mobile developers to easily and seamlessly manage global deployments – ultimately leading to faster innovation, across a wide variety of verticals and use cases for maximum business uptime. Couchbase Mobile 3 benefits include:

  • Device ubiquity: Developers can embed lightweight data storage directly into their applications on nearly any edge, IoT or mobile device because of comprehensive platform support and the C-API. 
  • Operational ease of use: The addition of REST-based remote administration supports large multi-tenant edge applications with ease. Architectural enhancements in the areas of manageability and security make it easier to configure and remotely administer the platform from the cloud to the edge.
  • Greater flexibility within complex edge architectures: Couchbase can run and sync anywhere: in the cloud, in edge data centers, within a 5G network, on-premises and even on edge devices, enabling multi-tiered, hierarchical edge computing architectures that meet any speed, availability or security requirements.

A Growing Mobile and Edge Partner Ecosystem

To help customers fully realize the power of mobile and edge, Couchbase is certified on AWS, Verizon, GCP and Azure. Reference architectures and reference deployments have been developed for AWS Local Zones, AWS Wavelength, AWS Outposts and Verizon 5G Edge. Couchbase was also recently certified as “Service Ready” on AWS Outposts.

“As a leader in enterprise mobile app development, we’re helping top brands like GE, AAA, H&R Block and T-Mobile deliver the mobile experiences that will power their businesses,” said Max Lynch, co-founder and CEO of Ionic. “It is imperative that we work with the right partners to deliver the best experience for our customers. Couchbase is an indispensable partner in helping us achieve this. Our integration with Couchbase Mobile allows developers to leverage familiar web technologies to quickly build fully native applications that run on iOS, Android and native Windows all from one codebase, regardless of internet connectivity.”

Couchbase Mobile 3 is now generally available. Download it here today to see how easy it is to deploy modern applications on mobile, desktop and custom embedded IoT devices.

Additional Resources

  • Read more about what’s new in Couchbase Mobile 3 on Couchbase’s blog here
  • ​​​​​​​For further details, register for Couchbase’s webinar on powering critical apps at the edge on March 9, 2022 here
  • Learn how customers are leveraging Couchbase to strengthen edge and mobile capabilities here
  • Learn how AWS, Verizon and Couchbase have partnered to deliver blazing fast apps at the edge here

About Couchbase

At Couchbase, we believe data is at the heart of the enterprise. We empower developers and architects to build, deploy, and run their most mission-critical applications. Couchbase delivers a high-performance, flexible and scalable modern database that runs across the data center and any cloud. Many of the world’s largest enterprises rely on Couchbase to power the core applications their businesses depend on. For more information, visit www.couchbase.com.

Couchbase®, the Couchbase logo and the names and marks associated with Couchbase’s products are trademarks of Couchbase, Inc. All other trademarks are the property of their respective owners.

Couchbase Announces Date of Fourth Quarter and Full Year Fiscal 2022 Financial Results Conference Call

Santa Clara, Calif., February 16, 2022 Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced that it will report financial results for its fourth quarter and full fiscal year ended January 31, 2022 on Wednesday, March 9, 2022 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. To access this conference call, dial (888) 660-1027 from the United States or (409) 231-2719 internationally with conference ID: 8395512. The live webcast and a webcast replay of the conference call can be accessed from the investor relations page of Couchbase’s website at investors.couchbase.com.

About Couchbase

At Couchbase, we believe data is at the heart of the enterprise. We empower developers and architects to build, deploy and run their most mission-critical applications. Couchbase delivers a high-performance, flexible and scalable modern database that runs across the data center and any cloud. Many of the world’s largest enterprises rely on Couchbase to power the core applications their businesses depend on. For more information, visit www.couchbase.com.

Couchbase®, the Couchbase logo and the names and marks associated with Couchbase’s products are trademarks of Couchbase, Inc. All other trademarks are the property of their respective owners.

Investor Contact:
Edward Parker
ICR for Couchbase
IR@couchbase.com

Media Contact:
Michelle Lazzar
Couchbase Communications
couchbasePR@couchbase.com

Couchbase Partners with Trendyol to Power Modern E-commerce Applications

ISTANBUL, Turkey – January 31, 2022 Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced that Trendyol, Turkey’s leading e-commerce company and one of the world’s leading e-commerce platforms, has expanded its strategic partnership with Couchbase. With Couchbase as its database foundation, Trendyol gets the performance and scale required for its applications including its online shopping cart, delivery tracking, product catalog, coupons, claims, inventory management, pre-order and customer personalization.

2021 was a momentous year for Trendyol. Having recently launched its business across 27 countries in Europe, it amassed more than 30 million active users. Powered by Couchbase, Trendyol is able to keep pace with growing customer demands with no downtime.

The company first began with Couchbase in 2019 when it realized it needed to replatform its claims reimbursement application from its legacy RDBMS. After the success of the initial project, Trendyol adopted Couchbase across other areas of its business that needed to easily scale and required a cloud-native approach for developer agility. With Couchbase, Trendyol developers have access to best-in-class built-in optimistic locking (CAS), built-in UI and monitoring, built-in sharding, full text search capabilities and much more.

Huw Owen, Couchbase’s vice president and general manager of EMEA, said “Today’s consumer expects e-commerce shopping and delivery experiences to be personalized, convenient and fast. Trendyol is a terrific example of a next-generation retailer that has embraced digital transformation, which is leading to compelling business returns. We are proud to have been a close partner to Trendyol for several years now and are thrilled to continue to power its leading e-commerce platform for years to come.”

Along with PepsiCo, Citi, Amadeus, Emirates and many others, Trendyol presented at Couchbase ConnectONLINE 2021. View Treyndyol’s session on how it migrated from relational to Couchbase here.

Additional Resources:
Read more about Couchbase’s modern database solutions for retail and e-commerce here
Read more about how customers are modernizing with Couchbase here
Read more about Couchbase’s modern database for enterprise applications here

Couchbase Achieves AWS Outposts Ready Designation

SANTA CLARA, Calif., January 26, 2022Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, announced today that it achieved the Amazon Web Services (AWS) Outposts Ready designation, part of the AWS Service Ready Program. This achievement recognizes that Couchbase has demonstrated successful integration with AWS Outposts deployments, which is a fully managed service that extends AWS infrastructure, AWS services, APIs and tools to virtually any datacenter, co-location space, or on-premises facility for a consistent hybrid experience.

The Couchbase platform, consisting of Couchbase Server, Couchbase Lite and Couchbase Sync Gateway, can take data and compute to the edge with a leading modern database and sync technology. Only Couchbase supports the distributed model at every tier, from the cloud to the edge, ensuring that critical information never stops moving between the applications and users that need it. AWS Outposts offers the ability to deploy Couchbase on standardized AWS infrastructure at the edge – beyond the traditional region-based data centers, including onto customers’ premises.

Storing and processing data locally at the edge provides better guarantees of ultra-low latency and data governance for mission-critical apps and services, benefiting use cases across industries like manufacturing, telco, healthcare, retail, media and more. This means that hospitals can provide better care by analyzing patient data in real-time, factories can detect and mitigate issues before they lead to shutdowns and retailers can provide a superior experience for holiday shoppers with real-time offers and touchless services, for example.

Achieving the AWS Outposts Ready designation differentiates Couchbase as an AWS Partner Network (APN) member with a product fully tested on AWS Outposts. AWS Service Ready Partners have demonstrated success building products integrated with AWS services, helping AWS customers evaluate and use their technology productively, at scale and at varying levels of complexity.

“Customers are looking for better ways to store and manage their data across the enterprise as part of their comprehensive modernization initiatives,” said George Elissaios, general manager, AWS Outposts, Amazon Web Services. “With Couchbase Server for AWS Outposts, customers have a high performance and comprehensive data management solution they can use with any application in their environment, on AWS Outposts or in AWS Regions, for a truly consistent hybrid experience.”

“Couchbase is excited to achieve AWS Service Ready status and in doing so, further strengthen our mobile and edge partner ecosystem to provide a superior experience for customers,” said Matt McDonough, SVP of business development and strategy at Couchbase. “This designation underscores our commitment to helping customers achieve their technology objectives and optimize costs, agility and innovation by leveraging the inherent flexibility, breadth of services, and pace of innovation that AWS provides.”

To support the seamless integration and deployment of AWS Outposts Ready solutions, AWS established the AWS Outposts Ready Program to help customers identify products integrated with AWS Outposts so that they can spend less time evaluating new tools, and more time scaling their use of products that are integrated with AWS Outpost deployments.

Additional Resources

Couchbase Named One of 25 Highest-Rated Public Cloud Computing Companies to Work For

Santa Clara, Calif. – December 14, 2021Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced that it was recognized as one of the 25 Highest-Rated Public Cloud Computing Companies To Work For in a list released by Battery Ventures, a global investment firm and cloud investor, with data specifically provided by Glassdoor*, the worldwide leader on insights about jobs and companies. The list highlights 25 publicly traded companies—all business-to-business, cloud-computing companies—where employees reported the highest levels of satisfaction at work during the 12 months ended Oct. 31, 2021 according to employee feedback shared on Glassdoor.

The distinction placed Couchbase at number four (out of 25 total) with an overall company rating of 4.65. The broader average across Glassdoor is 3.7. Couchbase’s senior-leadership rating was 4.44, compared to the Glassdoor average of 3.3, while its positive business-outlook rating—indicating the percentage of employees who believe their employer’s business will get better in the next six months—was 95%. That compared to an average across Glassdoor of 54%.

This is the fifth year Battery has issued a version of its highest-rated cloud companies list, along with a related ranking of the 25 Highest-Rated Private Cloud Computing Companies To Work For. The rankings—which this year come as many companies continue to face workplace challenges associated with the Covid-19 pandemic, including remote and hybrid work—highlight the global trend of businesses increasingly turning to the cloud to run critical technology systems and software, instead of using on-premises systems.

“While the pandemic has accelerated the businesses of many cloud companies—whose products often help fuel digital transformation—many cloud CEOs are still grappling with how to build great corporate cultures, hire the best employees and retain them in an incredibly fast-changing and unpredictable business environment,” said Neeraj Agrawal, a Battery Ventures general partner who specializes in cloud investing. “The companies on this list should feel proud of their success in building positive cultures and promoting employee satisfaction, which often translates into financial success. They really are modeling best practices for other organizations across the economy.”

“At Couchbase, we work relentlessly on our culture to ensure the team always feels valued so they can then work together to create value for our customers, partners and shareholders,” said Matt Cain, president and CEO of Couchbase. “Our goal has always been to build, reinforce and model a culture of openness, transparency and trust that delivers results. The Couchbase values underpin everything we do and this has been a sustainable competitive advantage for us as we attract, develop and retain the highly-skilled talent necessary for business growth. We are proud and honored to be named one of the 25 highest-rated public cloud computing companies to work for, even more so in the year where Couchbase went from privately held to publicly traded.”

Glassdoor noted that employees at these highly rated companies commonly mention in online reviews that they enjoy working for mission-driven companies with strong and unique company cultures; employers that promote transparency; and companies with experienced senior leaders who regularly and clearly communicate with employees. For instance, according to one anonymous employee review of Couchbase on Glassdoor: 

“Couchbase created a company culture that will be at the foundation of its success. Since joining the company, I experienced a constructive and collaborative environment where people want to help you succeed. The focus is on teamwork and how we win together. All this starts at the top with a clarity of vision, where the company is going and what it expects of its people. If you get a chance to join this company, I would say take it.” 

Full lists of The Battery Highest-Rated Public and Private Cloud Companies To Work For can be found here.

For more information about career opportunities at Couchbase, please visit https://www.couchbase.com/careers/.

About Battery Ventures

Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from six strategic locations: Boston; San Francisco and Menlo Park, Calif.; Herzliya, Israel; London; and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.

*By a company name, denotes a Battery investment. For a full list of all Battery investments and exits, please click here.

Couchbase Announces Third Quarter Fiscal 2022 Financial Results

Santa Clara, Calif., – December 7, 2021 Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced financial results for its third quarter ended October 31, 2021.

“Our strong third quarter performance was driven by ongoing large deal momentum, including some significant expansions, as well as acceleration of our cloud business. We also delivered solid top line growth with ARR up 21% and revenue up 20% year over year,” said Matt Cain, President and CEO of Couchbase. “We continue to see demand for our modern database as digital transformation remains a priority across industries, and are excited about the market opportunity for Capella which makes it faster and easier to consume Couchbase in the cloud.”

Third Quarter Fiscal 2022 Financial Highlights:

  • Revenue: Total revenue for the quarter was $30.8 million, an increase of 20% year-over-year. Subscription revenue was $29.0 million, an increase of 20% year-over-year.
  • Annual recurring revenue (ARR): Total ARR for the quarter was $122.3 million, an increase of 21% year-over-year. See the section titled “Key Business Metrics” below for details.
  • Gross margin: Gross margin for the quarter was 87.9%, compared to 87.8% for the third quarter of fiscal 2021. Non-GAAP gross margin for the quarter was 88.3%, compared to 87.9% for the third quarter of fiscal 2021. See the section titled “Use of Non-GAAP Financial Measures” and the tables entitled “Reconciliation of GAAP to Non-GAAP Results” below for details.
  • Loss from operations: Loss from operations for the quarter was $15.5 million, compared to $9.1 million for the third quarter of fiscal 2021. Non-GAAP operating loss for the quarter was $12.1 million, compared to $7.9 million for the third quarter of fiscal 2021.
  • Cash flow: Cash flows used in operating activities for the quarter were $19.7 million, compared to $13.1 million in the third quarter of fiscal 2021. Capital expenditures were $0.6 million during the quarter, leading to negative free cash flow of $20.3 million, compared to negative free cash flow of $13.3 million in the third quarter of fiscal 2021.
  • Remaining performance obligations (RPO): RPO as of October 31, 2021 was $124.3 million, up 41% year-over-year.

Recent Business Highlights:

  • Launched Couchbase Capella hosted Database-as-a-Service (DBaaS) offering on Amazon Web Services (AWS). Capella delivers database flexibility for developers and performance at scale for enterprise applications. Because Capella is fully managed and automated, customers can focus on development, improving their applications and reducing time to market, instead of worrying about operational database management efforts.
  • Achieved SOC 2 Type 1 Compliance Certification for Capella, thereby extending its security credentials.
  • Hosted annual user conference Couchbase ConnectONLINE, consisting of more than 100 sessions that brought together over 5,200 developer, architect, business user and community member registrants to learn more about Couchbase’s modern database for enterprise applications.
  • Announced the winners of the annual Couchbase Community Awards, honoring customers Amadeus, Citigroup, Emirates, Northwestern University, BroadJump, Cvent and Molo17 and partners AWS, Red Hat, Infosys and DigitalRoute for accelerating modernization initiatives and enabling innovation for enterprise-critical applications.
  • Named to Inc. Magazine’s Top 250 Best-Led Mid-Market Companies in America list and earned Great Place to Work Certification.
  • Appointed Alvina Antar, Chief Information Officer of Okta, to Couchbase’s Board of Directors.

Financial Outlook:

For the fourth quarter of fiscal 2022, Couchbase expects: 

  • Total revenue between $33.9 million and $34.1 million
  • Total ARR between $129 million and $130 million
  • Non-GAAP operating loss between $10.6 million and $10.2 million

For the full fiscal year 2022, Couchbase expects:

  • Total revenue between $122.4 million and $122.6 million
  • Total ARR between $129 million and $130 million
  • Non-GAAP operating loss between $47.0 million and $46.6 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 income for the fourth quarter or full year of fiscal 2022 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 conference call and webcast at 2:00 p.m. Pacific Time (5:00 p.m. Eastern Time) on Tuesday, December 7, 2021 to discuss its financial results and business highlights. To access this conference call, dial (888) 660-1027 from the United States and Canada or (409) 231-2719 internationally with conference ID: 2318369. The live webcast and a webcast replay of the conference call can be accessed from the investor relations page of Couchbase’s website at investors.couchbase.com.

Upcoming Conference Participation

Couchbase management will participate in the following investor conferences during the fourth quarter of fiscal 2022. Webcasts of company presentations can be found on Couchbase’s Investor Relations website at investors.couchbase.com.

  • Barclays Global Technology, Media and Telecommunications Conference on December 8, 2021 at 9:40 a.m. PT (12:40 p.m. ET)
  • 24th Annual Needham Virtual Growth Conference on January 12, 2022 at 11:45 a.m. PT (2:45 p.m. ET)

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 and litigation-related expenses. 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 flows: We define free cash flow as cash used in operating activities less purchases of 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 release for the reconciliation of GAAP and non-GAAP results.

Key Business Metrics

We review a number of operating and financial metrics, including Annual Recurring Revenue (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 excludes revenue from on-demand arrangements. Although we seek to increase ARR as part of our strategy of targeting large enterprise customers, this metric may fluctuate from period to period based on our ability to acquire new customers and expand within our existing customers. We believe that our ARR is an important indicator of the growth and performance of our business.

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

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 October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Revenue:
License $3,774 $3,010 $12,468 $8,550
Support and other 25,234 21,078 71,034 60,347
Total subscription revenue 29,008 24,088 83,502 68,897
Services 1,816 1,565 4,976 4,961
Total revenue 30,824 25,653 88,478 73,858
Cost of revenue:
Subscription (1) 2,094 1,840 6,218 4,113
Services (1) 1,642 1,296 4,435 4,383
Total cost of revenue 3,736 3,136 10,653 8,496
Gross profit 27,088 22,517 77,825 65,362
Operating expenses:
Research and development (1) 13,103 10,109 38,267 28,388
Sales and marketing (1) 22,817 17,443 65,714 51,145
General and administrative (1) 6,659 4,044 17,434 10,905
Total operating expenses 42,579 31,596 121,415 90,438
Loss from operations (15,491) (9,079) (43,590) (25,076)
Interest expense (133) (746) (630) (4,762)
Other income (expense), net (51) (86) (44) 221
Loss before income taxes (15,675) (9,911) (44,264) (29,617)
Provision for income taxes 249 237 729 719
Net loss $(15,924) $(10,148) $(44,993) $(30,336)
Cumulative dividends on Series G redeemable convertible preferred stock (1,446) (2,917) (2,596)
Net loss attributable to common stockholders $(15,924) $(11,594) $(47,910) $(32,932)
Net loss per share attributable to common stockholders, basic and diluted $(0.37) $(2.04) $(2.43) $(5.81)
Weighted-average shares used in computing net loss per share attributable to common stockholders, basic and diluted 43,440 5,695 19,742 5,672

 

Includes stock-based compensation expense as follows:

Three Months Ended October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Cost of revenue—subscription $66 $16 $123 $50
Cost of revenue—services 70 14 116 41
Research and development 1,085 328 2,224 968
Sales and marketing 1,292 337 2,521 1,013
General and administrative 840 440 2,179 1,270
Total stock-based compensation expense $3,353 $1,135 $7,163 $3,342

 

Couchbase, Inc.

Condensed Consolidated Balance Sheets

(in thousands)

(unaudited)

As of October 31, As of January 31,
2021 2021
Assets
Current assets
Cash and cash equivalents $141,440 $37,297
Short-term investments 66,195 19,546
Accounts receivable, net 22,525 35,897
Deferred commissions 9,215 8,353
Prepaid expenses and other current assets 8,191 2,449
Total current assets 247,566 103,542
Property and equipment, net 4,983 6,506
Deferred commissions, noncurrent 5,885 4,941
Other assets 1,255 2,199
Total assets $259,689 $117,188
Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)
Current liabilities
Accounts payable $3,518 $2,428
Accrued compensation and benefits 9,926 9,110
Other accrued liabilities 2,530 4,154
Deferred revenue 48,226 57,168
Total current liabilities 64,200 72,860
Long-term debt 24,948
Deferred revenue, noncurrent 2,726 4,542
Other liabilities 1,295 1,358
Total liabilities 68,221 103,708
Redeemable convertible preferred stock 259,822
Stockholders’ equity (deficit)
Preferred stock
Common stock
Additional paid-in capital 520,243 37,410
Accumulated other comprehensive income (loss) (29) 1
Accumulated deficit (328,746) (283,753)
Total stockholders’ equity (deficit) 191,468 (246,342)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit) $259,689 $117,188

 

Couchbase, Inc.

Condensed Consolidated Statements of Cash Flows

(in thousands)

(unaudited)

Three Months Ended October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Cash flows from operating activities
Net loss $(15,924) $(10,148) $(44,993) $(30,336)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization 708 701 2,114 1,308
Amortization of debt issuance costs 37 17 52 477
Debt prepayment costs 375
Stock-based compensation 3,353 1,135 7,163 3,342
Amortization of deferred commissions 3,497 2,581 9,823 7,086
Foreign currency transaction (gains) losses 90 5 (189)
Other 35 25 103 70
Changes in operating assets and liabilities
Accounts receivable (2,286) (922) 13,559 12,092
Deferred commissions (4,557) (3,646) (11,628) (8,404)
Prepaid expenses and other assets (36) (959) (5,884) (1,323)
Accounts payable (3,440) 181 1,113 643
Accrued compensation and benefits 908 (69) 817 (1,313)
Other accrued liabilities 1,342 (87) (407) (881)
Deferred revenue (3,384) (2,042) (10,759) (15,556)
Net cash used in operating activities (19,747) (13,143) (38,922) (32,609)
Cash flows from investing activities
Purchases of short-term investments (59,146) (14,145) (66,279) (14,145)
Maturities and sales of short-term investments 7,183 19,468
Purchases of property and equipment (564) (144) (814) (2,770)
Net cash used in investing activities (52,527) (14,289) (47,625) (16,915)
Cash flows from financing activities
Payments of debt (25,000) (25,000) (31,777)
Proceeds from issuance of debt, net of issuance costs 6,402
Proceeds from issuance of Series G redeemable convertible preferred stock, net of issuance costs 104,316
Proceeds from exercise of stock options 1,645 342 5,933 486
Proceeds from initial public offering, net of underwriting discounts and commissions 214,854
Payment for fractional shares in reverse stock split (9) (9)
Payments of deferred offering costs (2,135) (4,930)
Net cash provided by (used in) financing activities (25,499) 342 190,848 79,427
Effect of exchange rate changes on cash, cash equivalents and restricted cash (33) (30) (158) (6)
Net increase (decrease) in cash, cash equivalents and restricted cash (97,806) (27,120) 104,143 29,897
Cash, cash equivalents, and restricted cash at beginning of period 239,789 75,784 37,840 18,767
Cash, cash equivalents, and restricted cash at end of period $141,983 $48,664 $141,983 $48,664
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown above:
Cash and cash equivalents $141,440 $48,121 $141,440 $48,121
Restricted cash included in other assets 543 543 543 543
Total cash, cash equivalents and restricted cash $141,983 $48,664 $141,983 $48,664

 

Couchbase, Inc.

Reconciliation of GAAP to Non-GAAP Results

(in thousands)

(unaudited)

Three Months Ended October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Reconciliation of GAAP gross profit to non-GAAP gross profit:
Total revenue $30,824 $25,653 $88,478 $73,858
Gross profit $27,088 $22,517 $77,825 $65,362
Add: Stock-based compensation expense 136 30 239 91
Non-GAAP gross profit $27,224 $22,547 $78,064 $65,453
Gross margin 87.9% 87.8% 88.0% 88.5%
Non-GAAP gross margin 88.3% 87.9% 88.2% 88.6%

 

Three Months Ended October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Reconciliation of GAAP operating expenses to non-GAAP operating expenses:
GAAP research and development $13,103 $10,109 $38,267 $28,388
Less: Stock-based compensation expense (1,085) (328) (2,224) (968)
Non-GAAP research and development $12,018 $9,781 $36,043 $27,420
GAAP sales and marketing $22,817 $17,443 $65,714 $51,145
Less: Stock-based compensation expense (1,292) (337) (2,521) (1,013)
Non-GAAP sales and marketing $21,525 $17,106 $63,193 $50,132
GAAP general and administrative $6,659 $4,044 $17,434 $10,905
Less: Stock-based compensation expense (840) (440) (2,179) (1,270)
Less: Litigation-related expenses (213)
Non-GAAP general and administrative $5,819 $3,604 $15,255 $9,422

 

Three Months Ended October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Reconciliation of GAAP operating loss to non-GAAP operating loss:
Total revenue $30,824 $25,653 $88,478 $73,858
Loss from operations $(15,491) $(9,079) $(43,590) $(25,076)
Add: Stock-based compensation expense 3,353 1,135 7,163 3,342
Add: Litigation-related expenses 213
Non-GAAP operating loss $(12,138) $(7,944) $(36,427) $(21,521)
Operating margin (50)% (35)% (49)% (34)%
Non-GAAP operating margin (39)% (31)% (41)% (29)%

 

Couchbase, Inc.

Reconciliation of GAAP to Non-GAAP Results

(in thousands, except per share data)

(unaudited)

Three Months Ended October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Reconciliation of GAAP net loss attributable to common stockholders to non-GAAP net loss attributable to common stockholders:
Net loss attributable to common stockholders $(15,924) $(11,594) $(47,910) $(32,932)
Add: Stock-based compensation expense 3,353 1,135 7,163 3,342
Add: Litigation-related expenses 213
Non-GAAP net loss attributable to common stockholders $(12,571) $(10,459) $(40,747) $(29,377)
GAAP net loss per share attributable to common stockholders $(0.37) $(2.04) $(2.43) $(5.81)
Non-GAAP net loss per share attributable to common stockholders $(0.29) $(1.84) $(2.06) $(5.18)
Weighted average shares outstanding, basic and diluted 43,440 5,695 19,742 5,672

 

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 (unaudited, in thousands):

Three Months Ended October 31, Nine Months Ended October 31,
2021 2020 2021 2020
Net cash used in operating activities $(19,747) $(13,143) $(38,922) $(32,609)
Less: Purchases of property and equipment (564) (144) (814) (2,770)
Free cash flow $(20,311) $(13,287) $(39,736) $(35,379)
Net cash used in investing activities $(52,527) $(14,289) $(47,625) $(16,915)
Net cash provided by (used in) financing activities $(25,499) $342 $190,848 $79,427

 

Couchbase, Inc.

Key Business Metrics

Annual Recurring Revenue

(in millions)

(unaudited)

As of
July 31, Oct. 31, Jan. 31, April 30, July 31, Oct. 31,
2020 2020 2021 2021 2021 2021
ARR $96.2 $101.4 $107.8 $109.5 $115.2 $122.3

 

Couchbase Appoints Alvina Antar to Board of Directors

Santa Clara, Calif. – December 2, 2021Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced Alvina Antar, chief information officer at Okta, has joined its board of directors. Antar is an IT executive with over 20 years of experience in business acceleration, technology transformation and operational excellence.

“Alvina is a proven technology leader with deep experience driving business transformation through IT modernization, cloud adoption and a customer-centric approach,” said Matt Cain, president and CEO of Couchbase. “We are thrilled to welcome Alvina to Couchbase’s board of directors. Her depth of knowledge in enterprise transformation and consumption based business models will benefit both our growth strategies and world class culture.” 

Antar currently serves as the CIO at Okta, the leading identity provider, where she leads a Business Technology organization focused on accelerating Okta’s success through trusted and innovative delivery of process, technology and data solutions. Prior to Okta, she spent six years as Zuora’s first CIO and spent 17 years at Dell in various leadership roles. She has a passion for building community and co-founded the Silicon Valley CIO Women’s Network, is a member of the Girls in Tech’s Board of Directors which is dedicated to erasing the gender gap in tech and is on the advisory board of BUILD, a nonprofit serving youth in under-resourced communities through entrepreneurship.

“I am thrilled to join Couchbase’s board at this exciting time as data, in all its forms, plays a crucial role in business success,” said Antar. “In our digital world, developers are powering web and mobile applications through flexible, high performance modern database technology. I’m honored to be a part of this incredible team as Couchbase continues to grow and accelerate strategic modernization initiatives for customers.”

Couchbase Announces Support for Microsoft Azure Stack HCI

SANTA CLARA, Calif., Nov.2, 2021 – Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced Couchbase Server and Sync Gateway support for Microsoft Azure Stack HCI, a hyperconverged infrastructure product that extends Azure services and capabilities to customers’ datacenters, edge locations and remote offices. The new Couchbase and Azure Stack HCI integration enables customers to take advantage of high availability and resilient storage for their applications at an affordable price, both for familiar business-critical applications and for new edge workloads built on containers. 

Through the combination of Couchbase and Azure Stack HCI, customers can take advantage of the following strategic use cases: 

Remote or Branch Office and Edge

Building on some of Couchbase’s leading use cases like field service, internet of things data management and catalog and inventory management, this Stack HCI use case meets the requirements for retail stores, branch offices, field sites and other edge locations. Couchbase customers rely on the ability to store, query, search and analyze their data in the cloud or at the edge, irrespective of internet connectivity and speed. And now, Couchbase Server and Sync Gateway deployments will utilize fault tolerance and resilience at the edge in a highly cost-effective way with Azure Stack HCI. 

Tightly Integrated Kubernetes 

Couchbase workloads that run on containers and Kubernetes provide a powerful cloud-native data platform with autonomous database management capabilities. With Couchbase’s Autonomous Operator already certified for Microsoft Azure Kubernetes Service (AKS), Azure Stack HCI is an ideal solution for deploying Couchbase Kubernetes-based workloads within on-premises environments to meet network or regulatory goals from an edge remote site or the datacenter. Additionally, Azure Kubernetes Service on Azure Stack HCI (AKS-HCI) lets joint customers automate running containerized applications on clusters that use Azure Stack HCI. By automating much of the work involved with deploying and managing multiple containers, customers gain improved time to value and a highly scalable, reliable and secure solution on which to run traditional and containerized workloads.

“Couchbase is excited to enhance its position as an award-winning modern database for enterprise applications by making its Server and Sync Gateway products available on Microsoft Azure Stack HCI,” said Matt McDonough, SVP of business development and strategy, Couchbase. “Our customers have come to expect a differentiated cloud-to-edge experience with reliability, scalability and speed. The Couchbase and Azure Stack HCI integrated solution is yet another way we are accelerating modern applications for customers across industries.”

“With the availability of the Couchbase Server and Sync Gateway on Microsoft Azure Stack HCI, Couchbase and Microsoft customers get access to a modern, cloud-native, distributed database that fuses the strengths of relational databases such as SQL and ACID transactions with the JSON flexibility and scale that defines NoSQL, both in Azure and at the edge,” said Talal Alqinawi, senior director, Azure Marketing, Microsoft. 

Couchbase Joins Azure Stack Partner Program

Couchbase is now a member of the Azure Stack Partner Program, which has a goal of creating, nurturing, and growing a strong partner ecosystem across the Azure Stack family. The program enables joint customer business continuity by ensuring that Couchbase remains compatible with the latest version of the Azure Stack family.

Try out Couchbase Server and Sync Gateway through the Azure Commercial Marketplace. More information about Couchbase and Microsoft Azure can be found here.

Couchbase®, the Couchbase logo and the names and marks associated with Couchbase’s products are trademarks of Couchbase, Inc. All other trademarks are the property of their respective owners.

Couchbase Announces Winners of 2021 Couchbase Community Customer and Partner Awards

SANTA CLARA, Calif., Oct. 21, 2021 – From ConnectONLINE 2021, Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, announced the winners of its second annual Couchbase Community Customer and Partner Awards. The awards recognize customers and partners who are accelerating modernization initiatives and enabling innovation for enterprise-critical applications. 

“With global organizations outgrowing the limitations of legacy technology, the need for modern databases for business-critical applications has never been greater,” said Ravi Mayuram, CTO, Couchbase. “We’re constantly amazed at what our customers and partners are able to achieve with our technology. Whether it’s to speed the development process, improve application performance or gain better visibility and control over growing amounts of data, our customers and partners are leading the way in how enterprises are modernizing business. On behalf of Couchbase, we congratulate this year’s winners for their dedication to improving the customer experience and we look forward to seeing how they continue to innovate with Couchbase in 2022 and beyond.”

Customer Awards Winners

Awarded separately for customers across the Americas and EMEA, this year’s awards honored Couchbase customers across travel and hospitality, financial services, healthcare, education and media and entertainment for their successful innovation. 

Advanced NoSQL Architectures:

● Americas winner: Cvent

  • In moving to a microservices architecture, Cvent adopted Couchbase’s modern database to provide the high performance, scalability and flexibility required for continuous delivery of its hybrid events application.

● EMEA winner: Citigroup

  • Citigroup architected a Market Data System storing billions of data points within Couchbase, scaling up to over a thousand concurrent connections within an Agile DevOps environment.

Cloud Computing:

● Americas winner: BroadJump

  • By deploying Couchbase in the cloud, BroadJump’s development team was able to use their existing SQL skills to execute complex queries for analytics while improving query performance to gain better visibility and control over their expense management.

● EMEA winner: Amadeus

  • Amadeus leveraged Couchbase to design a cloud-native modular platform aimed at speeding time to market and data exchange to better serve customers and partners.

Innovating at the Edge:

● Americas winner: Northwestern University

  • Northwestern University’s Catalyst Lab selected Couchbase as part of a broader tech effort to reduce chronic disease risk factors by optimizing innovative, technology-supported interventions.

● EMEA winner: Emirates

  • Emirates optimized aircraft maintenance using Couchbase, enabling it to provide real-time data capture to multiple stakeholders and architect the end-to-end digitalization of its technical logs. Emirates was also awarded the Project of the Year, demonstrating the most unique modern application built with Couchbase.

Community Architectures and Innovation:

● Winner: MOLO17

  • MOLO17 leveraged Couchbase Mobile to achieve situational awareness by streamlining information flow, enhancing offline capabilities, facilitating near-real-time synchronization between the top floor, where the planning happens, and the shop floor, where the execution takes place.

Couchbase serves more than 500 customers globally, comprising over 30% of the Fortune 100. To learn more about how customers are modernizing with Couchbase, visit featured customer case studies here.

Partner Award Winners

This year’s partner award winners recognized work that delivered differentiation and innovation to its customers while leading them to successful outcomes as they pursued their digital modernization strategies.

Systems Integrator of the Year:

● Winner: Infosys

  • Infosys developed new horizontal and vertical solutions like Store Modernization, Digital Supply Chain and Database Migration tools leveraging Couchbase technology and have enhanced their delivery capability.

Cloud Partner of the Year:

● Winner: AWS

  • Last year AWS was a launch partner for our in-VPC offering, and this year, with the launch of Couchbase CapellaTM on AWS, developers can build cloud-native applications easily.

Technology Ecosystem Partner of the Year:

● Winner: Red Hat

  • As a certified ISV for Red Hat OpenShift platform, Couchbase and Red Hat enable customers to run mission-critical applications in a mixed/hybrid environment and support legacy modernization and cloud native development projects.

ISV Partner of the Year:

● Winner: DigitalRoute

  • A partner for over 7 years, DigitalRoute developed their solution on Couchbase and have successfully deployed it in multiple telcos globally.

To learn more about Couchbase partners, please visit the partner page here.

Couchbase Introduces Couchbase Capella Hosted Database-as-a-Service on AWS, Making it Faster, Easier and More Affordable for Developers to Build Enterprise Applications

SANTA CLARA, Calif., Oct. 19, 2021 – Couchbase, Inc. (NASDAQ: BASE), provider of a leading modern database for enterprise applications, today announced its Couchbase CapellaTM hosted Database-as-a-Service (DBaaS) offering on Amazon Web Services (AWS). Capella delivers database flexibility for developers and performance at scale for enterprise applications, with the best price-performance of any DBaaS. Because Capella is fully managed and automated, customers can focus on development, improving their applications and reducing time to market, instead of worrying about operational database management efforts. 

“When developing for clients, we need flexibility, high performance and cost effective solutions,” said Scott Bradley, principal engineer, Facet Digital. “Couchbase Capella is a single platform that gives us JSON document agility, in-memory caching speeds, text search and analytics, all accessed via the SQL our team already knows.”

With Couchbase Capella, customers benefit from the latest features in Couchbase Server 7, which fuses the best aspects of relational databases like SQL queries and distributed ACID transactions with the flexibility of a modern JSON document database. Capella’s flexibility supports a broad set of use cases reducing a customer’s need to buy, deploy and manage additional databases or supporting technologies. As customers scale up their applications, Capella delivers price performance that is superior to competitors, allowing customers to do more for less on a dollar-for-dollar basis, while also saving time and effort.

“Modernization is accelerating for nearly every business and we are proud to be evolving our DBaaS to include a hosted offering purpose built for modern application developers,” said Scott Anderson, senior vice president of product management at Couchbase. “At Couchbase, we align our products and solutions to help turn customers’ modernization strategies into realities. With the introduction of Couchbase Capella, we are offering customers the fastest, easiest and most cost effective way to deploy our modern database in the cloud for accelerated application development.” 

Couchbase Capella customer benefits include:

  • Easy as SQL. SQL users can develop against Couchbase Capella without learning another query language and they can deploy in just a few clicks. One management pane simplifies multi-cluster, multi-region and multi-cloud operations.
  • Develop with agility across use cases. Developers get multi-model capabilities (document, key-value, full text search, analytics) and data structure flexibility allowing them to develop applications for operational, transactional and analytical workloads, all from a single vendor. Users can pick one of ten SDKs with their preferred programming language. 
  • Premium performance and cost efficiency at scale. Couchbase Capella’s unique real-time memory first architecture ensures millisecond responses for highly interactive and personalized applications while the price performance keeps improving as users scale. With Couchbase Capella on AWS, customers can experience the best in availability and reliability anywhere in the world. 
  • Access to a wide range of AWS Cloud services. The Couchbase Capella control plane is built on AWS and integrates over 20 AWS services into its architecture including Amazon Elastic Compute Cloud (Amazon EC2), Amazon Elastic Block Store (Amazon EBS), AWS Lambda, Amazon GuardDuty and AWS Shield. Developers can connect their applications with AWS services, including Amazon Simple Storage Service (Amazon S3), AWS Fargate, Amazon Elastic Kubernetes Service (Amazon EKS), AWS Lambda and more at very low latency within a single interface.

“Couchbase Capella provides developers the ability to get up and running with Couchbase’s high performance, scalable and flexible database on AWS,” said Sabina Joseph, Director, Americas ISVs, AWS. “The hosted DBaaS provides customers with the flexibility and agility of a cloud database without being slowed down by administrative infrastructure hurdles so they can build modern apps faster. We are delighted to work with Couchbase through the AWS SaaS Factory Program, allowing enterprises to more efficiently deploy business-critical applications on AWS.”

Couchbase Capella is now available on AWS, with additional cloud providers becoming available in the future. Start a free trial today by clicking here and see how easy it is to be up and running with Couchbase in minutes.

Additional Resources

  • Read this blog post for more information about Couchbase Capella
  • Register here for Couchbase ConnectONLINE, taking place October 20-21, 2021 to learn more about Capella
  • Visit this page to find out about all the ways Couchbase can be deployed in any cloud

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 and statements about Couchbase’s market and competitive position, strategies, product releases, and product qualities, capabilities and benefits. 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: any factors creating issues with the qualities, capabilities and benefits of products; delays in product releases; and intense competition and our ability to compete effectively. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the SEC that we may file from time to time, including our Quarterly Report on Form 10-Q for the quarter ended July 31, 2021, which should be read in conjunction with this press release. 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.