Couchbase, Inc. ( BASE ) shares are trading higher after the company reported fourth-quarter earnings above estimates and issued upbeat first-quarter revenue guidance.

Revenue grew 20% Y/Y to $50.1 million, beating the consensus of $46.6 million. In the quarter, subscription revenue stood at $48.1 million, up 26% Y/Y.

As of January 31, Total ARR stood at $204.2 million, up 25% Y/Y.  Adjusted gross margin expanded to 90.4% from 86.3% a year ago.

Adjusted operating loss for the quarter came in at $(4.1) million vs. $(9.9) million for the fourth quarter of fiscal 2023.

Adjusted EPS loss of $(0.06) beat the consensus of $(0.14).

Cash flows used in operating activities for the year were $(26.9) million, and capital expenditures came in at $4.7 million.

Outlook: For the first quarter of FY25, the company expects revenue of $48.1 million-$48.9 million (vs. consensus of $47 million) and an adjusted operating loss of $(8.5) million-$(7.5) million.

For FY25, the company projects revenue of $203.0 million-$207.0 million (vs. consensus of $204.38 million) and an adjusted operating loss of $(27.5) million-$(22.5) million.

Price Action: BASE shares are up 11.6% at $30.02 on the last check Wednesday.