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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.
毫無疑問,持有無利可圖的企業的股票可以賺錢。例如,生物技術和採礦勘探公司經常虧損多年,然後才在新的治療方法或礦物發現方面取得成功。但是,儘管成功是眾所周知的,但投資者不應忽視許多沒有盈利的公司,這些公司只是燒掉了所有的現金,然後倒閉。
所以,自然的問題是Couchbase(納斯達克:BASE)股東是否應該擔心其燒錢的速度。就本文而言,我們將現金消耗定義為公司每年為其增長提供資金的現金數量(也稱為負自由現金流)。首先,我們將通過比較其現金消耗和現金儲備來確定其現金跑道。
查看我們對Couchbase的最新分析
Couchbase的錢什麼時候會用完?
一家公司的現金跑道是通過將其現金儲備除以現金消耗來計算的。Couchbase上一次報告資產負債表是在2022年7月,當時它沒有債務和價值1.92億美元的現金。去年,它的現金消耗為4200萬美元。因此,從2022年7月開始,它有了4.6年的現金跑道。毫無疑問,這是一條令人放心的長跑道。你可以在下圖中看到它的現金餘額是如何隨着時間的推移而變化的。
NasdaqGS:基礎債轉股歷史2022年9月23日Couchbase的發展情況如何?
一些投資者可能會發現這令人擔憂,Couchbase實際上增加它的現金消耗,去年上漲了6.0%。一線希望是,收入增長了25%,表明業務收入正在增長。總的來説,我們會説該公司正在隨着時間的推移而不斷進步。然而,顯然,關鍵因素是該公司是否會在未來實現業務增長。因此,你可能想看看該公司在未來幾年的預期增長速度。
Couchbase為增長籌集更多現金的難度有多大?
我們當然對Couchbase在過去一年中取得的進展印象深刻,但也值得考慮的是,如果它想要籌集更多現金來支持更快的增長,成本會有多高。公司可以通過債務或股權籌集資金。通常情況下,企業會自行發售新股,以籌集現金並推動增長。我們可以將一家公司的現金消耗與其市值進行比較,以瞭解一家公司需要發行多少新股才能為一年的運營提供資金。
Couchbase 4200萬美元的現金消耗約佔其6.08億美元市值的6.9%。鑑於這只是一個相當小的比例,該公司很可能很容易通過向投資者發行一些新股,甚至通過貸款來為下一年的增長提供資金。
Couchbase的燒錢情況有多大風險?
正如你現在可能已經知道的那樣,我們並不太擔心Couchbase的現金消耗。特別是,我們認為它的現金跑道脱穎而出,證明該公司很好地控制了支出。儘管它不斷增加的現金消耗確實給了我們暫停的理由,但我們在本文中討論的其他指標總體上形成了一幅積極的圖景。看看本文中的所有衡量標準,我們並不擔心它的現金消耗率;該公司似乎很好地滿足了中期支出需求。另外,我們研究了影響公司的不同風險,並發現了Couchbase的3個警告標誌(其中1個讓我們有點不舒服!)你應該知道。
如果你更願意看看另一家基本面更好的公司,那麼不要錯過這一預期免費有趣的公司名單,擁有高股本回報率和低債務的公司,或者這些預計都將增長的股票名單。
對這篇文章有什麼反饋嗎?擔心內容嗎? 保持聯繫直接與我們聯繫。或者,也可以給編輯組發電子郵件,地址是implywallst.com。
本文由Simply Wall St.撰寫,具有概括性。我們僅使用不偏不倚的方法提供基於歷史數據和分析師預測的評論,我們的文章並不打算作為財務建議。它不構成買賣任何股票的建議,也沒有考慮你的目標或你的財務狀況。我們的目標是為您帶來由基本面數據驅動的長期重點分析。請注意,我們的分析可能不會將最新的對價格敏感的公司公告或定性材料考慮在內。Simply Wall St.對上述任何一隻股票都沒有持倉。
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moomoo是Moomoo Technologies Inc.公司提供的金融資訊和交易應用程式。
在美國,moomoo上的投資產品和服務由Moomoo Financial Inc.提供,一家受美國證券交易委員會(SEC)監管的持牌主體。 Moomoo Financial Inc.是金融業監管局(FINRA)和證券投資者保護公司(SIPC)的成員。
在新加坡,moomoo上的投資產品和服務是通過Moomoo Financial Singapore Pte. Ltd.提供,該公司受新加坡金融管理局(MAS)監管(牌照號碼︰CMS101000) ,持有資本市場服務牌照 (CMS) ,持有財務顧問豁免(Exempt Financial Adviser)資質。本內容未經新加坡金融管理局的審查。
在澳大利亞,moomoo上的金融產品和服務是通過Futu Securities (Australia) Ltd提供,該公司是受澳大利亞證券和投資委員會(ASIC)監管的澳大利亞金融服務許可機構(AFSL No. 224663)。請閱讀並理解我們的《金融服務指南》、《條款與條件》、《隱私政策》和其他披露文件,這些文件可在我們的網站 https://www.moomoo.com/au中獲取。
在加拿大,透過moomoo應用程式提供的僅限訂單執行的券商服務由Moomoo Financial Canada Inc.提供,並受加拿大投資監管機構(CIRO)監管。
在馬來西亞,moomoo上的投資產品和服務是透過Moomoo Securities Malaysia Sdn. Bhd. 提供,該公司受馬來西亞證券監督委員會(SC)監管(牌照號碼︰eCMSL/A0397/2024) ,持有資本市場服務牌照 (CMSL) 。本內容未經馬來西亞證券監督委員會的審查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd.,Futu Securities (Australia) Ltd, Moomoo Financial Canada Inc和Moomoo Securities Malaysia Sdn. Bhd., 是關聯公司。
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