Shares of Couchbase, Inc. (BASE) gained over 11% on Wednesday morning after the company reported a fourth-quarter loss that was narrower than Street's expectations.
BASE is currently trading at $30.02, up $3.12 or 11.60%, on the Nasdaq. The stock opened its trading at $31.12 after closing Tuesday at $26.90. The stock has traded between $12.98 and $32.00 in the past 52-week period.
Adjusted loss for the quarter narrowed to $0.06 per share from $0.18 per share last year. Analysts polled by Thomson Reuters expected a loss of $0.14 per share for the quarter.
Revenue for the quarter was $50.1 million, an increase of 20% year-over-year. Subscription revenue for the quarter was $48.1 million, an increase of 26% year-over-year.
Looking forward, the company expects revenue of $48.1 million to $48.9 million and $203.0 million to $207.0 million for the first quarter and full year 2024, respectively. Analysts currently estimate revenue of $47.04 million and $204.58 million, for the first quarter and full year 2024, respectively.
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