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Here's Why We're Not Too Worried About Couchbase's (NASDAQ:BASE) Cash Burn Situation
Here's Why We're Not Too Worried About Couchbase's (NASDAQ:BASE) Cash Burn Situation
There's no doubt that money can be made by owning shares of unprofitable businesses. For example, biotech and mining exploration companies often lose money for years before finding success with a new treatment or mineral discovery. But while the successes are well known, investors should not ignore the very many unprofitable companies that simply burn through all their cash and collapse.
So, the natural question for Couchbase (NASDAQ:BASE) shareholders is whether they should be concerned by its rate of cash burn. For the purpose of this article, we'll define cash burn as the amount of cash the company is spending each year to fund its growth (also called its negative free cash flow). First, we'll determine its cash runway by comparing its cash burn with its cash reserves.
View our latest analysis for Couchbase
When Might Couchbase Run Out Of Money?
A company's cash runway is calculated by dividing its cash hoard by its cash burn. When Couchbase last reported its balance sheet in July 2022, it had zero debt and cash worth US$192m. In the last year, its cash burn was US$42m. Therefore, from July 2022 it had 4.6 years of cash runway. There's no doubt that this is a reassuringly long runway. You can see how its cash balance has changed over time in the image below.
NasdaqGS:BASE Debt to Equity History September 23rd 2022How Well Is Couchbase Growing?
Some investors might find it troubling that Couchbase is actually increasing its cash burn, which is up 6.0% in the last year. The silver lining is that revenue was up 25%, showing the business is growing at the top line. On balance, we'd say the company is improving over time. Clearly, however, the crucial factor is whether the company will grow its business going forward. So you might want to take a peek at how much the company is expected to grow in the next few years.
How Hard Would It Be For Couchbase To Raise More Cash For Growth?
We are certainly impressed with the progress Couchbase has made over the last year, but it is also worth considering how costly it would be if it wanted to raise more cash to fund faster growth. Companies can raise capital through either debt or equity. Commonly, a business will sell new shares in itself to raise cash and drive growth. We can compare a company's cash burn to its market capitalisation to get a sense for how many new shares a company would have to issue to fund one year's operations.
Couchbase's cash burn of US$42m is about 6.9% of its US$608m market capitalisation. Given that is a rather small percentage, it would probably be really easy for the company to fund another year's growth by issuing some new shares to investors, or even by taking out a loan.
How Risky Is Couchbase's Cash Burn Situation?
As you can probably tell by now, we're not too worried about Couchbase's cash burn. In particular, we think its cash runway stands out as evidence that the company is well on top of its spending. Although its increasing cash burn does give us reason for pause, the other metrics we discussed in this article form a positive picture overall. Looking at all the measures in this article, together, we're not worried about its rate of cash burn; the company seems well on top of its medium-term spending needs. Separately, we looked at different risks affecting the company and spotted 3 warning signs for Couchbase (of which 1 makes us a bit uncomfortable!) you should know about.
If you would prefer to check out another company with better fundamentals, then do not miss this free list of interesting companies, that have HIGH return on equity and low debt or this list of stocks which are all forecast to grow.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
毫无疑问,持有无利可图的企业的股票可以赚钱。例如,生物技术和采矿勘探公司经常亏损多年,然后才在新的治疗方法或矿物发现方面取得成功。但是,尽管成功是众所周知的,但投资者不应忽视许多没有盈利的公司,这些公司只是烧掉了所有的现金,然后倒闭。
所以,自然的问题是Couchbase(纳斯达克:BASE)股东是否应该担心其烧钱的速度。就本文而言,我们将现金消耗定义为公司每年为其增长提供资金的现金数量(也称为负自由现金流)。首先,我们将通过比较其现金消耗和现金储备来确定其现金跑道。
查看我们对Couchbase的最新分析
Couchbase的钱什么时候会用完?
一家公司的现金跑道是通过将其现金储备除以现金消耗来计算的。Couchbase上一次报告资产负债表是在2022年7月,当时它没有债务和价值1.92亿美元的现金。去年,它的现金消耗为4200万美元。因此,从2022年7月开始,它有了4.6年的现金跑道。毫无疑问,这是一条令人放心的长跑道。你可以在下图中看到它的现金余额是如何随着时间的推移而变化的。
NasdaqGS:基础债转股历史2022年9月23日Couchbase的发展情况如何?
一些投资者可能会发现这令人担忧,Couchbase实际上增加它的现金消耗,去年上涨了6.0%。一线希望是,收入增长了25%,表明业务收入正在增长。总的来说,我们会说该公司正在随着时间的推移而不断进步。然而,显然,关键因素是该公司是否会在未来实现业务增长。因此,你可能想看看该公司在未来几年的预期增长速度。
Couchbase为增长筹集更多现金的难度有多大?
我们当然对Couchbase在过去一年中取得的进展印象深刻,但也值得考虑的是,如果它想要筹集更多现金来支持更快的增长,成本会有多高。公司可以通过债务或股权筹集资金。通常情况下,企业会自行发售新股,以筹集现金并推动增长。我们可以将一家公司的现金消耗与其市值进行比较,以了解一家公司需要发行多少新股才能为一年的运营提供资金。
Couchbase 4200万美元的现金消耗约占其6.08亿美元市值的6.9%。鉴于这只是一个相当小的比例,该公司很可能很容易通过向投资者发行一些新股,甚至通过贷款来为下一年的增长提供资金。
Couchbase的烧钱情况有多大风险?
正如你现在可能已经知道的那样,我们并不太担心Couchbase的现金消耗。特别是,我们认为它的现金跑道脱颖而出,证明该公司很好地控制了支出。尽管它不断增加的现金消耗确实给了我们暂停的理由,但我们在本文中讨论的其他指标总体上形成了一幅积极的图景。看看本文中的所有衡量标准,我们并不担心它的现金消耗率;该公司似乎很好地满足了中期支出需求。另外,我们研究了影响公司的不同风险,并发现了Couchbase的3个警告标志(其中1个让我们有点不舒服!)你应该知道。
如果你更愿意看看另一家基本面更好的公司,那么不要错过这一预期免费有趣的公司名单,拥有高股本回报率和低债务的公司,或者这些预计都将增长的股票名单。
对这篇文章有什么反馈吗?担心内容吗? 保持联系直接与我们联系。或者,也可以给编辑组发电子邮件,地址是implywallst.com。
本文由Simply Wall St.撰写,具有概括性。我们仅使用不偏不倚的方法提供基于历史数据和分析师预测的评论,我们的文章并不打算作为财务建议。它不构成买卖任何股票的建议,也没有考虑你的目标或你的财务状况。我们的目标是为您带来由基本面数据驱动的长期重点分析。请注意,我们的分析可能不会将最新的对价格敏感的公司公告或定性材料考虑在内。Simply Wall St.对上述任何一只股票都没有持仓。
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moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Futu Securities (Australia) Ltd提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
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