Theo Thun's questions to Couchbase Inc (BASE) leadership • Q1 2026
Question
Representing Sanjit Singh, Theo Thun asked for clarification on the delta between strong ARR growth and softer revenue results, and also inquired about the current traction of AI agent workloads and the potential timeline for them to contribute to revenue.
Answer
Interim CFO Bill Carey explained that migrations from enterprise contracts to usage-based Capella create a temporary revenue headwind due to different recognition patterns, causing a lag. CEO Matt Cain added that ARR is the best indicator of business health and that these metrics will converge over time. Regarding AI, Cain stated that Couchbase is positioned as a strategic platform for 'AgenTeq' applications, which is already influencing customer conversations and wins, with more to come.