Couchbase beats Q2 revenue estimates, but net loss widens
Overview
Couchbase fiscal Q2 revenue rises 12% yr/yr, beating analysts' expectations
However, co reports wider net loss from a year earlier as expenses rise 14.3%
Co highlights partnerships with AWS and Google
Outlook
Company will not provide financial guidance due to Haveli Investments acquisition
Result Drivers
REVENUE GROWTH - Revenue increased by 12% yr/yr, driven by subscription growth and strategic partnerships
AI INITIATIVES - Introduction of Enterprise Analytics and partnerships with AWS and Google to boost AI capabilities
DATA CONNECTIVITY - Launch of Couchbase Connector for Confluent Cloud to simplify data movement and reduce operational overhead
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $57.57 mln | $54.90 mln (14 Analysts) |
Q2 Net Income | Miss | -$23.79 mln | -$3.62 mln (12 Analysts) |
Q2 Basic EPS | Miss | -$0.43 | -$0.07 (14 Analysts) |
Q2 Operating Income | -$25.40 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 4 "strong buy" or "buy", 9 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy."
Wall Street's median 12-month price target for Couchbase Inc is $24.50, about 0.4% above its September 2 closing price of $24.39
Press Release:
