$BASE reports strong Q4 and FY2023 results, announces new DBaaS offering and improved partner program.
Mar 7th 2023, 9:06 pm
Analyst Summary: Couchbase, a cloud database platform company, reported its financial results for Q4 and fiscal year ended January 31, 2023. The company’s revenue for Q4 was $48.7 million, up 41% YoY, with a gross margin of 85%. For the full fiscal year, the revenue was $165.1 million, up 163% YoY, with a gross margin of 86%. CEO Matt Cain highlighted the company’s focus on increasing Capella adoption, driving sales and marketing efficiency, and improving profitability in the coming year. Additionally, the company has announced its Couchbase Capella Database-as-a-Service (DBaaS) offering on Azure, and an enhanced Independent Software Vendor (ISV) partner program to modernize applications. The company has provided its financial outlook for Q1 and full year of fiscal 2024, which is subject to change based on several assumptions. Analysts should note that the company is not able to provide GAAP targets for operating loss for the first quarter or full year of fiscal 2024.