Database pioneer Couchbase this afternoon reported fiscal Q4 revenue that topped Wall Street’s expectations, and a smaller-than-expected net loss per share, an outlook for this quarter’s revenue in line with consensus, and a forecast for the full year’s revenue below consensus.
The report sent Couchbase shares down 12% in late trading.
CEO Matt Cain remarked that the company “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.”
Added Cain. “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.”
Revenue in the three months ended in January rose to $35.1 million, yielding a net loss of 22 cents a share, excluding some costs.
Analysts had been modeling $34 million and a 26-cent net loss per share.
Also: Couchbase narrowly beats Q3 estimates, reports revenue of $30.8 million
Couchbase’s annual recurring revenue, or ARR, a key metric of performance, rose 23% to $132.9 million.
Another key metric, remaining performance obligations, or RPO, rose 58% to $161.6 million.
For the current quarter, the company sees revenue of $32.5 million to $32.7 million compared to consensus for $32.6 million.
For the full year, the company sees revenue in a range of $146.5 million to $147.5 million compared to consensus of $151.4 million.
