Welcome to Episode 9 of the Cloud Wars Horizon Minute — featuring news and commentary hosted by Acceleration Economy analyst Tom Smith. Each episode provides insights into a new group of companies that are being introduced to the Cloud Wars Audience.
This episode is brought to you by Cloud Wars Expo. This in-person event will be held from June 28th to 30th at the Moscone Center in San Francisco, California
00:10 — Today’s report looks at the Q1 FY 23 earnings report that Couchbase delivered.
02:10 — Total revenue was $34.9 million, an increase of 25% year-over-year, and exceeded analysts’ expectations by $2.23 million.
02:28 — Total ARR was $139.7 million, an increase of 27%.
02:37 — Major customer wins with Halliburton and Western Union, a $1-million-plus deal for the Capella cloud database, and a total customer base expanding to over 600.
03:05 — CEO Matt Cain described cloud centricity as the company’s number one priority, noting industry forecasts indicate the Cloud Database Management service revenue to be 50% of the total database market this year, “Now we’re well-positioned to fully participate. Cloud is at the heart of most customer conversations.”