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Jan 31, 2024
Couchbase Q4 2024 Earnings Report
Couchbase reported strong financial results for the fourth quarter and fiscal year ended January 31, 2024, exceeding guidance ranges and achieving significant ARR growth.
Key Takeaways
Couchbase finished fiscal 2024 with strong results, highlighted by 25% ARR growth and exceeding guidance on all metrics. Capella now represents 11% of ARR and over 25% of the customer base, positioning the company for its next phase of growth.
Total revenue for the quarter increased by 20% year-over-year to $50.1 million.
Annual Recurring Revenue (ARR) grew by 25% year-over-year to $204.2 million.
Non-GAAP gross margin improved to 90.4% for the quarter, up from 86.3% in the prior year.
Capella, the cloud database platform, achieved a significant milestone, now accounting for 11% of ARR and over 25% of the customer base.
Couchbase
Couchbase
Couchbase Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comServices Revenue
CapyFin.com Forward Guidance
For the first quarter of fiscal 2025, Couchbase expects total revenue between $48.1 million and $48.9 million, and total ARR between $206.5 million and $209.5 million. Non-GAAP operating loss is projected to be between $8.5 million and $7.5 million.
Positive Outlook
- Projected Q1 FY2025 total revenue of $48.1-$48.9 million.
- Anticipated Q1 FY2025 ARR of $206.5-$209.5 million.
- Full Year FY2025 total revenue guidance of $203.0-$207.0 million.
- Full Year FY2025 ARR guidance of $235.5-$240.5 million.
- Full Year FY2025 Non-GAAP operating loss projected to be between $27.5 million and $22.5 million.
Challenges Ahead
- Q1 FY2025 Non-GAAP operating loss expected to be between $8.5 million and $7.5 million.
- The company is unable to provide GAAP targets for operating loss due to difficulty in estimating certain excluded items like stock-based compensation expense.
- Guidance is based on assumptions subject to change and outside of control, meaning actual results may vary.
- There is no assurance that the company will achieve the projected results.
- The effect of excluded items on GAAP operating loss may be significant.
Revenue & Expenses
Visualization of income flow from segment revenue to net income