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The global NoSQL market is expected to grow at 30% CAGR from billion in 2021 to $27.4 billion by 2027. The growth in the industry is being driven by the increasing amount of semi-structured and unstructured data generated by varied business needs and user preferences. The surging penetration of smartphones and the internet is adding to the demand for NoSQL databases in social networks, retail, and e-commerce sectors. Couchbase (Nasdaq: BASE), a leading vendor in the market, recently announced its second-quarter earnings.

Couchbase’s Financials

Couchbase’s second-quarter revenues grew 34% to $39.8 million and non-GAAP loss was $0.19 per share. The market was looking for revenues of $35.89 million and a loss of $0.28 per share.

Subscription revenues grew 32% to $37.1 million. License revenues grew from $4.4 million a year ago to $6.4 million. Total ARR grew 26% to $145.2 million.

For the current quarter, the company forecast revenues of $36.5-$36.7 million. The market forecast revenues of $36.54 million and a loss of $0.35 per share. For the fiscal year, Couchbase forecast revenues of $149.5-$150.5 million. The market revenues of $147.44 million and a loss of $1.26 per share for the year.

Couchbase’s Offerings

Recently, Couchbase announced several upgrades to its offerings. It announced the general availability of Capella App Services, a fully managed application backend, on Google Cloud. Couchbase Capella is a fully managed Database-as-a-Service (DBaaS) offering that offloads database management, reduces costs, and delivers database flexibility for developers and performance at scale for enterprise applications. Since developers across organizations are very familiar with SQL, by using SQL as the query language of Capella, Couchbase has dramatically reduced the learning and usage curve for the tool. The recent expansion to Google Cloud will allow Couchbase’s customers to easily build and run applications across cloud service providers with just a few clicks. It also enables multi-cloud support for the fully managed offline-first data sync offering, which will help its customers move Capella App Services between public clouds.

Couchbase remains focused on its community development and added several new features and services. It introduced the Couchbase Ambassador Program, a service designed to support and empower Couchbase’s community of users and contributors who want to learn and share information about Couchbase technology with a broader developer audience. It launched the Couchbase Community Hub to better connect users and contributors as well as foster increased sharing, learning, and discovery. The Community Hub is a new space for the Couchbase developer community that complements the existing Couchbase Discord server and Couchbase Community Forums.

Couchbase’s stock is currently trading at $11.84 with a market capitalization of $530.3 million. It hit a 52-week high of $47.38 in November last year and a 52-week low of $11.55 earlier this month. The company went public in July last year when it raised $200 million at a valuation of $1.4 billion.

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