Couchbase Inc (NASDAQ:BASE) stock rose 3.62% (As on March 8, 11:13:47 AM UTC-4, Source: Google Finance) after the company posted fourth-quarter financial results that beat Wall Street’s expectations. The company has reported a net loss of $18.5 million for the quarter, up from a $12.7 million loss one year earlier. Its subscription revenue for the quarter rose 16%, to $38.1 million, suggesting decent growth with the Capella service. The company also reported annual recurring revenue of $163.7 million at the end of the quarter, up 23% from a year ago. Remaining performance obligations came to $165.9 million, up 3% from a year earlier. Loss from operations for the quarter was $18.5 million, compared to $12.7 million for the fourth quarter of fiscal 2022. Non-GAAP operating loss for the quarter was $9.9 million, compared to $9.1 million for the fourth quarter of fiscal 2022. Cash flow used in operating activities for the quarter was $10.2 million, compared to $2.7 million in the fourth quarter of fiscal 2022. Capital expenditures were $1.6 million during the quarter, leading to negative free cash flow of $11.8 million, compared to negative free cash flow of $2.7 million in the fourth quarter of fiscal 2022.
BASE in the fourth quarter of FY 22 has reported the adjusted loss per share of 18 cents, beating the analysts’ estimates for the adjusted loss per share of 34 cents. The company had reported the adjusted revenue growth of 19 percent to $41.6 million in the fourth quarter of FY 22, beating the analysts’ estimates for revenue of $38.25 million.
Couchbase was somewhat cautious regarding guidance for the coming quarter and full year. It said it sees first-quarter revenue of between $39.5 million and $40.1 million, just below Wall Street’s consensus estimate of $40.6 million. For fiscal 2024 overall, Couchbase expects revenue to fall somewhere between $171.7 million and $174.7 million, versus Wall Street’s $176.6 million forecast.
Meanwhile, the company has announced the Couchbase Capella Database-as-a-Service (DBaaS) offering on Azure, allowing customers to improve alignment with applications and support hybrid and multi-cloud strategies from a single platform. Microsoft Azure customers worldwide gain access to Capella to take advantage of the scalability, reliability and agility of Capella on Azure to drive application development and shape business strategies. BASE has announced a newly enhanced Independent Software Vendor (ISV) partner program that provides training, certifications, migration support and resources to cost-efficiently help ISVs modernize applications.