The earnings call presented a mixed picture with strong net new ARR and Capella growth, successful strategic account expansion, and product innovations. However, challenges such as a decline in professional service revenue, customer churn in starter packs, and negative cash flow were also highlighted.

Company Guidance

In the first quarter of fiscal 2026, Couchbase, Inc. reported a total ARR of $252.1 million, reflecting a 21% year-over-year increase and a 6% sequential growth, surpassing the high end of their guidance. Net new ARR reached $14.2 million, up over 300% from the previous year. Revenue for Q1 was $56.5 million, marking a 10% increase year over year and a 3% sequential rise. Despite a $4.2 million non-GAAP operating loss, Couchbase highlighted significant growth in Capella adoption, with Capella ARR increasing by 84% year over year to $44 million, now constituting 17.4% of total ARR. The company also maintained a dollar-based net retention rate above 114%. Guidance for the full fiscal year 2026 was revised, with expected total revenue between $228.3 million and $232.3 million and ARR projected to range from $279.3 million to $284.3 million, both reflecting a stable growth outlook. Couchbase continues to focus on strategic accounts and new applications, leveraging its Capella free tier to drive developer engagement and long-term customer expansion.

Strong Net New ARR Growth

Net new ARR was $14.2 million, up more than 300% year over year, driven by strategic accounts and Capella adoption.

Capella ARR Growth

Capella ARR increased by 84% year over year, now representing 17.4% of total ARR, highlighting strong adoption and consumption growth.

Expansion in Strategic Accounts

Couchbase gained new wins in various industries, including energy, defense, and healthcare, indicating strong strategic account growth.

New Product Launches and Innovations

Introduced Couchbase Edge Server and enhanced AI capabilities, empowering developers with new features and capabilities.

Couchbase (BASE) Earnings, Revenues Date & History

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BASE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 03, 2025	2026 (Q2)	-0.07 / -	-0.06	―	―	―
Jun 03, 2025	2026 (Q1)	-0.08 / -0.06	-0.1	40.00% (+0.04)
Feb 25, 2025	2025 (Q4)	-0.08 / -0.02	-0.06	66.67% (+0.04)
Dec 03, 2024	2025 (Q3)	-0.08 / -0.05	-0.08	37.50% (+0.03)
Sep 04, 2024	2025 (Q2)	-0.09 / -0.06	-0.17	64.71% (+0.11)
Jun 05, 2024	2025 (Q1)	-0.15 / -0.10	-0.27	62.96% (+0.17)
Mar 05, 2024	2024 (Q4)	-0.14 / -0.06	-0.18	66.67% (+0.12)
Dec 06, 2023	2024 (Q3)	-0.18 / -0.08	-0.22	63.64% (+0.14)
Sep 06, 2023	2024 (Q2)	-0.22 / -0.17	-0.19	10.53% (+0.02)
Jun 06, 2023	2024 (Q1)	-0.32 / -0.27	-0.32	15.62% (+0.05)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

BASE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 03, 2025	$18.56	$19.13	+3.07%
Feb 25, 2025	$16.25	$18.26	+12.37%
Dec 03, 2024	$21.12	$16.49	-21.92%
Sep 04, 2024	$18.99	$16.10	-15.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.