Couchbase (BASE) To Report Earnings Tomorrow: Here Is What To Expect

Kayode Omotosho /
2024/06/04 3:02 am EDT

Database as a service company Couchbase (NASDAQ: BASE) will be reporting results tomorrow afternoon. Here's what to look for.

Couchbase beat analysts' revenue expectations by 7.6% last quarter, reporting revenues of $50.09 million, up 20.3% year on year. It was a mixed quarter for the company, with optimistic revenue guidance for the next quarter but a miss of analysts' billings estimates.

Is Couchbase a buy or sell going into earnings? Read our full analysis here, it's free.

This quarter, analysts are expecting Couchbase's revenue to grow 18.6% year on year to $48.62 million, in line with the 17.6% increase it recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.15 per share.

Couchbase Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Couchbase has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 6.6% on average.

Looking at Couchbase's peers in the data storage segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Commvault Systems delivered year-on-year revenue growth of 9.7%, beating analysts' expectations by 5.1%, and DigitalOcean reported revenues up 11.9%, topping estimates by 1.2%. Commvault Systems traded up 3.2% following the results while DigitalOcean was also up 15.7%.

Read our full analysis of Commvault Systems's results here and DigitalOcean's results here.

Growth stocks have been quite volatile since the start of 2024, and while some of the data storage stocks have fared somewhat better, they have not been spared, with share prices down 6.5% on average over the last month. Couchbase is down 13.1% during the same time and is heading into earnings with an average analyst price target of $32.8 (compared to the current share price of $22.64).

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