Robert Simmons's questions to Couchbase Inc (BASE) leadership • Q1 2026
Question
Robert Simmons questioned the guided revenue growth pattern for the year, noting a projected dip in Q2's growth rate before an expected acceleration in the second half, and asked for the underlying cause.
Answer
Interim CFO Bill Carey and CEO Matt Cain clarified that the pattern is a direct result of customer migrations from enterprise licenses to the Capella cloud service. This shift creates a temporary lag in revenue recognition, as upfront license revenue is replaced by usage-based revenue that ramps over time. They stated that this disconnect is currently at its peak and that revenue growth will begin to converge with ARR growth in the second half of the year and beyond.