Couchbase Shares Fall 11% on Wider-than-Expected 2Q Loss

Dow Jones09-05

By Sabela Ojea

Shares of Couchbase on Thursday dropped 11% to $16.91 in pre-market trading a day after the company logged a wider-than-expected loss in its fiscal second quarter.

The cloud database platform had a loss for the three months ended July 31 of $19.9 million, or 39 cents a share, compared with a loss of $20.7 million, or 44 cents a share, for the same period a year earlier. Analysts polled by FactSet had forecast a narrower loss per share of 35 cents.

The company, which reported revenue growth of 20% in the quarter, said it remains confident in its outlook for fiscal 2024 and objectives for fiscal 2025.

Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix

(END) Dow Jones Newswires

September 05, 2024 09:32 ET (13:32 GMT)

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