Couchbase, a provider delivering high-performance, distributed NoSQL cloud database solutions that run across the data center and any cloud, has publicly filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission (SEC) relating to a proposed initial public offering (IPO) of shares of its common stock.
Couchbase plans to issue its common stock on the Nasdaq Global Select Market under the ticker code ‘BASE.’ The prospective offering’s number of shares to be issued and price range have yet to be established.
In fiscal year 2021, Couchbase reported $103.3M in revenue. Couchbase isn’t profitable yet. Its deficit for the three months ending April 30 was $14.6M, up from $11.4M one year ago.
Couchbase Server, Couchbase Cloud
Their flagship database product, known as Couchbase Server, would offer a wide range of capabilities that allow it to do tasks that would typically require many systems to do so. This comprehensive feature set, according to the firm, would enable enterprises to replace many disparate systems with a unified data management platform, therefore simplifying operations.
Couchbase Server may serve as a high-speed cache, storing an organization’s most frequently used information and quickly loading them when apps need them. It may be used as a repository for text and other unstructured data as well as a NoSQL storage. Couchbase also offers capabilities that would allow it to store both organized and unstructured data, such as consumer purchase logs. As it eliminates the need to maintain a separate system for each use case, Couchbase claims that its all-in-one feature set reduces the amount of resources IT teams must invest on database upkeep.
Last year, Couchbase introduced Couchbase Cloud, a managed cloud-based variant of Couchbase Server, to help speed adoption of its database product. The cloud-based database service helped Couchbase increase sales by 21% year over year to $28M in the three months ending April 30.
The Planned Public Offering
Lead book-running managers for the planned offering are Morgan Stanley & Co. and Goldman Sachs & Co. The proposed offering’s joint book-running managers are Barclays Capital and RBC Capital Markets. Co-managers for the planned offering are William Blair & Company, Stifel, Nicolaus & Company, Incorporated, Robert W. Baird & Co. Incorporated, and Oppenheimer & Co.
Only a prospectus will be used to make the proposed public offering. When available, copies of the preliminary prospectus relating to the proposed offering can be obtained from Morgan Stanley & Co., 180 Varick Street, 2nd Floor, New York, NY 10014, Attn: Prospectus Department; and Goldman Sachs & Co., 200 West Street, New York, NY 10282, Attn: Prospectus Department, Telephone: 866-471-2526, Email: [email protected].