Couchbase narrowly beats Q3 estimates, reports revenue of $30.8 million | ZDNet

Enterprise application database software company Couchbase this afternoon reported Q3 revenue that narrowly topped Wall Street’s expectations. 

Revenue in Q3 rose 20%, year over year, to $30.8 million, yielding a net loss of $0.29 a share.

Analysts had been modeling $29.42 million and a net loss of $0.36 per share.

Couchbase said its annual recurring revenue rose by 21%, year over year, to $122.3 million. 

The report sent Couchbase shares down 5% in late trading.

Also: Couchbase releases v7.0 in wake of successful IPO

CEO and founder Matt Cain called the quarter “strong,” adding that the company’s performance was driven by “some significant expansions” as well as acceleration of in their cloud business. 

“We also delivered solid top line growth with ARR up 21% and revenue up 20% year over year,” Cain said. “We continue to see demand for our modern database as digital transformation remains a priority across industries, and are excited about the market opportunity for Capella which makes it faster and easier to consume Couchbase in the cloud.”

For the current quarter, the company expects revenue between $33.9 million and $34.1 million. 

The company projects ARR between $129 million and $130 million.

For the full year, the company sees revenue between $122.4 million and $122.6 million. 

The company expects full-year ARR between $129 million and $130 million. 

This is the second public quarterly report since Couchbase, based in Santa Clara, California, went public on Nasdaq June 22nd, raising proceeds of $214 million.