Technology
Couchbase Announces Fourth Quarter and Fiscal 2024 Financial Results
Published
10 months agoon
By
SANTA CLARA, Calif., March 5, 2024 /PRNewswire/ — Couchbase, Inc. (NASDAQ: BASE), the cloud database platform company, today announced financial results for its fourth quarter and fiscal year ended January 31, 2024.
“We finished fiscal 2024 on a strong note, highlighted by 25% ARR growth, and marking a historical year for Couchbase,” said Matt Cain, Chair, President and CEO of Couchbase. “In addition to delivering results that exceeded the high end of our guidance range on all metrics, we achieved an important milestone with Capella, which now represents 11% of our ARR and over 25% of our customer base. As we look ahead towards fiscal 2025, I’m confident that we have the differentiated platform and operational rigor to achieve our next phase of growth.”
Fourth Quarter Fiscal 2024 Financial Highlights
Revenue: Total revenue for the quarter was $50.1 million, an increase of 20% year-over-year. Subscription revenue for the quarter was $48.1 million, an increase of 26% year-over-year.Annual recurring revenue (ARR): Total ARR as of January 31, 2024 was $204.2 million, an increase of 25% year-over-year as reported and on a constant currency basis. See the section titled “Key Business Metrics” below for details.Gross margin: Gross margin for the quarter was 89.7%, compared to 85.7% for the fourth quarter of fiscal 2023. Non-GAAP gross margin for the quarter was 90.4%, compared to 86.3% for the fourth quarter of fiscal 2023. See the section titled “Use of Non-GAAP Financial Measures” and the tables titled “Reconciliation of GAAP to Non-GAAP Results” below for details.Loss from operations: Loss from operations for the quarter was $22.6 million, compared to $18.5 million for the fourth quarter of fiscal 2023. Non-GAAP operating loss for the quarter was $4.1 million, compared to $9.9 million for the fourth quarter of fiscal 2023.Cash flow: Cash flow used in operating activities for the quarter was $6.5 million, compared to $10.2 million in the fourth quarter of fiscal 2023. Capital expenditures were $1.3 million during the quarter, leading to negative free cash flow of $7.7 million, compared to negative free cash flow of $11.8 million in the fourth quarter of fiscal 2023.Remaining performance obligations (RPO): RPO as of January 31, 2024 was $241.8 million, an increase of 46% year-over-year.
Full Year Fiscal 2024 Financial Highlights
Revenue: Total revenue for the year was $180.0 million, an increase of 16% year-over-year. Subscription revenue for the year was $171.6 million, an increase of 20% year-over-year.Gross margin: Gross margin for the year was 87.7%, compared to 86.9% for fiscal 2023. Non-GAAP gross margin for the year was 88.5%, compared to 87.6% for fiscal 2023.Loss from operations: Loss from operations for the year was $84.5 million, compared to $69.3 million for fiscal 2023. Non-GAAP operating loss for the year was $31.3 million, compared to $41.3 million for fiscal 2023.Cash flow: Cash flows used in operating activities for the year were $26.9 million, compared to $41.2 million in fiscal 2023. Capital expenditures were $4.7 million during the year, leading to negative free cash flow of $31.6 million, compared to negative free cash flow of $46.8 million in fiscal 2023.
Recent Business Highlights
Announced vector search as a new feature in Couchbase Capella™ and Couchbase Server to help businesses bring to market a new class of AI-powered adaptive applications that engage users in a hyper-personalized and contextualized way. Couchbase is the first database company to announce it will offer vector search optimized for running onsite, across clouds and to mobile and IoT devices at the edge, paving the way for organizations to run adaptive applications anywhere, including offline.Announced it is extending its AI partner ecosystem with LangChain and LlamaIndex support to further boost developer productivity. The integration with LangChain enables a common API interface to converse with a broad library of large language models (LLMs). Similarly, the integration with LlamaIndex will provide developers with even more choices for LLMs when building adaptive applications. These ecosystem integrations will accelerate query prompt assembly, improve response validation and facilitate retrieval-augmented generation (RAG) applications.Announced new enterprise features, including new file-based index rebalancing, reducing times by up to 80%, one-step upgrade from Couchstore to Magma storage engine without stopping the front-end workloads, faster failover times and query simplification. Couchbase continues to invest at a rapid pace to enhance its platform with new enterprise and developer features.Announced the general availability of Capella iQ, a co-pilot for coding. Capella iQ allows developers to interact with Couchbase Capella using natural language conversation, making database interactions more intuitive, efficient and accessible.Couchbase Capella was named Best Cloud Data Management Solution at the 2023-2024 Cloud Awards for its performance, versatility and community.
Financial Outlook
For the first quarter and full year of fiscal 2025, Couchbase expects:
Q1 FY2025 Outlook
FY2025 Outlook
Total Revenue
$48.1-48.9 million
$203.0-207.0 million
Total ARR
$206.5-209.5 million
$235.5-240.5 million
Non-GAAP Operating Loss
$8.5-7.5 million
$27.5-22.5 million
The guidance provided above is based on several assumptions that are subject to change and many of which are outside our control. If actual results vary from these assumptions, our expectations may change. There can be no assurance that we will achieve these results.
Couchbase is not able, at this time, to provide GAAP targets for operating loss for the first quarter or full year of fiscal 2025 because of the difficulty of estimating certain items excluded from non-GAAP operating loss that cannot be reasonably predicted, such as charges related to stock-based compensation expense. The effect of these excluded items may be significant.
Conference Call Information
Couchbase will host a live webcast at 2:00 p.m. Pacific Time (or 5:00 p.m. Eastern Time) on Tuesday, March 5, 2024, to discuss its financial results and business highlights. The conference call can be accessed by dialing 877-407-8029 from the United States, or +1 201-689-8029 from international locations. The live webcast and a webcast replay can be accessed from the investor relations page of Couchbase’s website at investors.couchbase.com.
About Couchbase
Modern customer experiences need a flexible database platform that can power applications spanning from cloud to edge and everything in between. Couchbase’s mission is to simplify how developers and architects develop, deploy and run modern applications wherever they are. We have reimagined the database with our fast, flexible and affordable cloud database platform Couchbase Capella, allowing organizations to quickly build applications that deliver premium experiences to their customers – all with best-in-class price performance. More than 30% of the Fortune 100 trust Couchbase to power their modern applications. For more information, visit www.couchbase.com and follow us on X (formerly Twitter) @couchbase.
Couchbase has used, and intends to continue using, its investor relations website and the corporate blog at blog.couchbase.com to disclose material non-public information and to comply with its disclosure obligations under Regulation FD. Accordingly, you should monitor our investor relations website and the corporate blog in addition to following our press releases, SEC filings and public conference calls and webcasts.
Use of Non-GAAP Financial Measures
In addition to our financial information presented in accordance with GAAP, we believe certain non-GAAP financial measures are useful to investors in evaluating our operating performance. We use certain non-GAAP financial measures, collectively, to evaluate our ongoing operations and for internal planning and forecasting purposes. We believe that non-GAAP financial measures, when taken together with the corresponding GAAP financial measures, may be helpful to investors because they provide consistency and comparability with past financial performance and meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our business, results of operations or outlook. Non-GAAP financial measures are presented for supplemental informational purposes only, have limitations as analytical tools and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP, and may be different from similarly-titled non-GAAP financial measures used by other companies. In addition, other companies, including companies in our industry, may calculate similarly-titled non-GAAP financial measures differently or may use other measures to evaluate their performance, all of which could reduce the usefulness of our non-GAAP financial measures as tools for comparison. Investors are encouraged to review the related GAAP financial measures and the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures (provided in the financial statement tables included in this press release), and not to rely on any single financial measure to evaluate our business.
Non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating loss, non-GAAP operating margin, non-GAAP net loss and non-GAAP net loss per share: We define these non-GAAP financial measures as their respective GAAP measures, excluding expenses related to stock-based compensation expense, employer payroll taxes on employee stock transactions, restructuring charges and impairment of capitalized internal-use software. We use these non-GAAP financial measures in conjunction with GAAP measures to assess our performance, including in the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies and to communicate with our board of directors concerning our financial performance.
Beginning with the fourth quarter of fiscal 2024, we have excluded the impairment of capitalized internal-use software, a non-cash operating expense, from our non-GAAP results as it is not reflective of ongoing operating results. This impairment charge relates to certain previously capitalized internal-use software that we determined would no longer be placed into service. Prior period non-GAAP financial measures have not been adjusted to reflect this change as we did not incur impairment of capitalized internal-use software in any prior period presented.
Free cash flow: We define free cash flow as cash used in operating activities less additions to property and equipment, which includes capitalized internal-use software costs. We believe free cash flow is a useful indicator of liquidity that provides our management, board of directors and investors with information about our future ability to generate or use cash to enhance the strength of our balance sheet and further invest in our business and pursue potential strategic initiatives.
Please see the reconciliation tables at the end of this press release for the reconciliation of GAAP and non-GAAP results.
Key Business Metrics
We review a number of operating and financial metrics, including ARR, to evaluate our business, measure our performance, identify trends affecting our business, formulate business plans and make strategic decisions.
We define ARR as of a given date as the annualized recurring revenue that we would contractually receive from our customers in the month ending 12 months following such date. Based on historical experience with customers, we assume all contracts will be automatically renewed at the same levels unless we receive notification of non-renewal and are no longer in negotiations prior to the measurement date. ARR also includes revenue from consumption-based cloud credits of Couchbase Capella products. ARR for Couchbase Capella products in a customer’s initial year is calculated as described above; after a customer’s initial year it is calculated by annualizing the prior 90 days of actual consumption, assuming no increases or reductions in usage. ARR excludes revenue derived from the use of cloud products only based on on-demand arrangements and services revenue. ARR should be viewed independently of revenue, and does not represent our revenue under GAAP on an annualized basis, as it is an operating metric that can be impacted by contract start and end dates and renewal dates. ARR is not intended to be a replacement for forecasts of revenue. Although we seek to increase ARR as part of our strategy of targeting large enterprise customers, this metric may fluctuate from period to period based on our ability to acquire new customers and expand within our existing customers. We believe that our ARR is an important indicator of the growth and performance of our business.
We also attempt to represent the changes in the underlying business operations by eliminating fluctuations caused by changes in foreign currency exchange rates within the current period. We calculate constant currency growth rates by applying the applicable prior period exchange rates to current period results.
Forward-Looking Statements
This press release contains “forward-looking” statements within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on management’s beliefs and assumptions and on information currently available to management. Forward-looking statements include, but are not limited to, quotations of management, the section titled “Financial Outlook” above and statements about Couchbase’s market position, strategies and potential market opportunities. Forward-looking statements generally relate to future events or our future financial or operating performance. Forward-looking statements include all statements that are not historical facts and, in some cases, can be identified by terms such as “anticipate,” “expect,” “intend,” “plan,” “believe,” “continue,” “could,” “potential,” “remain,” “may,” “might,” “will,” “would” or similar expressions and the negatives of those terms. However, not all forward-looking statements contain these identifying words. Forward-looking statements involve known and unknown risks, uncertainties and other factors, including factors beyond our control, which may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. These risks include, but are not limited to: our history of net losses and ability to achieve or maintain profitability in the future; our ability to continue to grow on pace with historical rates; our ability to manage our growth effectively; intense competition and our ability to compete effectively; cost-effectively acquiring new customers or obtaining renewals, upgrades or expansions from our existing customers; the market for our products and services being relatively new and evolving, and our future success depending on the growth and expansion of this market; our ability to innovate in response to changing customer needs, new technologies or other market requirements, including new capabilities, programs and partnerships and their impact on our customers and our business; our limited operating history, which makes it difficult to predict our future results of operations; the significant fluctuation of our future results of operations and ability to meet the expectations of analysts or investors; our significant reliance on revenue from subscriptions, which may decline and, the recognition of a significant portion of revenue from subscriptions over the term of the relevant subscription period, which means downturns or upturns in sales are not immediately reflected in full in our results of operations; and the impact of geopolitical and macroeconomic factors. Further information on risks that could cause actual results to differ materially from forecasted results are included in our filings with the Securities and Exchange Commission that we may file from time to time, including those more fully described in our Quarterly Report on Form 10-Q for the fiscal quarter ended October 31, 2023. Additional information will be made available in our Annual Report on Form 10-K for the year ended January 31, 2024 that will be filed with the Securities and Exchange Commission, which should be read in conjunction with this press release and the financial results included herein. Any forward-looking statements contained in this press release are based on assumptions that we believe to be reasonable as of this date. Except as required by law, we assume no obligation to update these forward-looking statements, or to update the reasons if actual results differ materially from those anticipated in the forward-looking statements.
Couchbase, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share data)
(unaudited)
Three Months Ended January 31,
Year Ended January 31,
2024
2023
2024
2023
Revenue:
License
$ 7,196
$ 4,977
$ 21,514
$ 19,885
Support and other
40,865
33,158
150,040
123,010
Total subscription revenue
48,061
38,135
171,554
142,895
Services
2,028
3,488
8,483
11,929
Total revenue
50,089
41,623
180,037
154,824
Cost of revenue:
Subscription(1)
3,580
3,214
14,647
10,762
Services(1)
1,560
2,738
7,435
9,497
Total cost of revenue
5,140
5,952
22,082
20,259
Gross profit
44,949
35,671
157,955
134,565
Operating expenses:
Research and development(1)
16,491
15,000
64,069
57,760
Sales and marketing(1)
34,055
29,303
130,558
111,067
General and administrative(1)
11,840
8,207
42,663
33,390
Impairment of capitalized internal-use software
5,156
—
5,156
—
Restructuring(1)
—
1,663
46
1,663
Total operating expenses
67,542
54,173
242,492
203,880
Loss from operations
(22,593)
(18,502)
(84,537)
(69,315)
Interest expense
—
(25)
(43)
(101)
Other income (expense), net
1,766
1,938
5,752
1,960
Loss before income taxes
(20,827)
(16,589)
(78,828)
(67,456)
Provision for income taxes
575
25
1,355
1,038
Net loss
$ (21,402)
$ (16,614)
$ (80,183)
$ (68,494)
Net loss per share, basic and diluted
$ (0.44)
$ (0.37)
$ (1.70)
$ (1.53)
Weighted-average shares used in computing net loss per share, basic and diluted
48,513
45,281
47,175
44,787
_______________________________
(1)
Includes stock-based compensation expense as follows:
Three Months Ended January 31,
Year Ended January 31,
2024
2023
2024
2023
Cost of revenue—subscription
$ 148
$ 144
$ 707
$ 535
Cost of revenue—services
116
116
529
433
Research and development
3,422
2,046
12,920
7,937
Sales and marketing
4,310
2,563
15,771
9,426
General and administrative
4,630
1,922
15,846
7,390
Restructuring
—
65
1
65
Total stock-based compensation expense
$ 12,626
$ 6,856
$ 45,774
$ 25,786
Couchbase, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(unaudited)
As of January
31, 2024
As of January
31, 2023
Assets
Current assets
Cash and cash equivalents
$ 41,351
$ 40,446
Short-term investments
112,281
127,856
Accounts receivable, net
44,848
39,847
Deferred commissions
15,421
13,096
Prepaid expenses and other current assets
10,385
8,234
Total current assets
224,286
229,479
Property and equipment, net
5,327
7,430
Operating lease right-of-use assets
4,848
6,940
Deferred commissions, noncurrent
11,400
7,524
Other assets
1,891
1,666
Total assets
$ 247,752
$ 253,039
Liabilities and Stockholders’ Equity
Current liabilities
Accounts payable
$ 4,865
$ 1,407
Accrued compensation and benefits
18,116
12,641
Other accrued expenses
4,581
6,076
Operating lease liabilities
3,208
3,117
Deferred revenue
81,736
71,716
Total current liabilities
112,506
94,957
Operating lease liabilities, noncurrent
2,078
4,543
Deferred revenue, noncurrent
2,747
3,275
Total liabilities
117,331
102,775
Stockholders’ equity
Preferred stock
—
—
Common stock
—
—
Additional paid-in capital
621,024
561,547
Accumulated other comprehensive loss
56
(807)
Accumulated deficit
(490,659)
(410,476)
Total stockholders’ equity
130,421
150,264
Total liabilities and stockholders’ equity
$ 247,752
$ 253,039
Couchbase, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(unaudited)
Three Months Ended
January 31,
Year Ended January 31,
2024
2023
2024
2023
Cash flows from operating activities
Net loss
$ (21,402)
$ (16,614)
$ (80,183)
$ (68,494)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation and amortization
390
867
2,424
3,171
Stock-based compensation, net of amounts capitalized
12,626
6,856
45,774
25,786
Amortization of deferred commissions
4,886
4,447
18,628
16,996
Non-cash lease expense
762
757
3,075
2,909
Impairment of capitalized internal-use software
5,156
—
5,156
—
Foreign currency transaction (gains) losses
116
(774)
765
524
Other
(973)
(593)
(3,553)
(416)
Changes in operating assets and liabilities
Accounts receivable
(14,496)
(16,941)
(5,382)
(3,537)
Deferred commissions
(10,937)
(5,321)
(24,829)
(17,590)
Prepaid expenses and other assets
(3,111)
(850)
(2,274)
(159)
Accounts payable
1,712
(1,971)
3,447
(495)
Accrued compensation and benefits
8,989
3,579
5,472
(3,497)
Other accrued expenses
1,481
2,803
(1,516)
3,103
Operating lease liabilities
(828)
(824)
(3,389)
(2,754)
Deferred revenue
9,179
14,376
9,492
3,268
Net cash used in operating activities
(6,450)
(10,203)
(26,893)
(41,185)
Cash flows from investing activities
Purchases of short-term investments
(40,704)
(33,976)
(131,160)
(144,613)
Maturities of short-term investments
39,322
45,750
151,296
126,893
Additions to property and equipment
(1,285)
(1,553)
(4,710)
(5,646)
Net cash provided by (used in) investing activities
(2,667)
10,221
15,426
(23,366)
Cash flows from financing activities
Proceeds from exercise of stock options
3,580
1,189
10,933
5,222
Proceeds from issuance of common stock under ESPP
—
—
2,000
4,484
Net cash provided by financing activities
3,580
1,189
12,933
9,706
Effect of exchange rate changes on cash, cash equivalents and restricted cash
(19)
458
(561)
(397)
Net increase (decrease) in cash, cash equivalents and restricted cash
(5,556)
1,665
905
(55,242)
Cash, cash equivalents, and restricted cash at beginning of period
47,450
39,324
40,989
96,231
Cash, cash equivalents, and restricted cash at end of period
$ 41,894
$ 40,989
$ 41,894
$ 40,989
Reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets to the amounts shown above:
Cash and cash equivalents
$ 41,351
$ 40,446
$ 41,351
$ 40,446
Restricted cash included in other assets
543
543
543
543
Total cash, cash equivalents and restricted cash
$ 41,894
$ 40,989
$ 41,894
$ 40,989
Couchbase, Inc.
Reconciliation of GAAP to Non-GAAP Results
(in thousands, except per share data)
(unaudited)
Three Months Ended January 31,
Year Ended January 31,
2024
2023
2024
2023
Reconciliation of GAAP gross profit to non-GAAP gross profit:
Total revenue
$ 50,089
$ 41,623
$ 180,037
$ 154,824
Gross profit
$ 44,949
$ 35,671
$ 157,955
$ 134,565
Add: Stock-based compensation expense
264
260
1,236
968
Add: Employer taxes on employee stock transactions
61
5
147
41
Non-GAAP gross profit
$ 45,274
$ 35,936
$ 159,338
$ 135,574
Gross margin
89.7 %
85.7 %
87.7 %
86.9 %
Non-GAAP gross margin
90.4 %
86.3 %
88.5 %
87.6 %
Three Months Ended January 31,
Year Ended January 31,
2024
2023
2024
2023
Reconciliation of GAAP operating expenses to non-GAAP operating expenses:
GAAP research and development
$ 16,491
$ 15,000
$ 64,069
$ 57,760
Less: Stock-based compensation expense
(3,422)
(2,046)
(12,920)
(7,937)
Less: Employer taxes on employee stock transactions
(181)
(27)
(611)
(165)
Non-GAAP research and development
$ 12,888
$ 12,927
$ 50,538
$ 49,658
GAAP sales and marketing
$ 34,055
$ 29,303
$ 130,558
$ 111,067
Less: Stock-based compensation expense
(4,310)
(2,563)
(15,771)
(9,426)
Less: Employer taxes on employee stock transactions
(377)
(76)
(1,154)
(294)
Non-GAAP sales and marketing
$ 29,368
$ 26,664
$ 113,633
$ 101,347
GAAP general and administrative
$ 11,840
$ 8,207
$ 42,663
$ 33,390
Less: Stock-based compensation expense
(4,630)
(1,922)
(15,846)
(7,390)
Less: Employer taxes on employee stock transactions
(77)
(8)
(341)
(106)
Non-GAAP general and administrative
$ 7,133
$ 6,277
$ 26,476
$ 25,894
Three Months Ended January 31,
Year Ended January 31,
2024
2023
2024
2023
Reconciliation of GAAP operating loss to non-GAAP operating loss:
Total revenue
$ 50,089
$ 41,623
$ 180,037
$ 154,824
Loss from operations
$ (22,593)
$ (18,502)
$ (84,537)
$ (69,315)
Add: Stock-based compensation expense
12,626
6,791
45,773
25,721
Add: Employer taxes on employee stock transactions
696
116
2,253
606
Add: Impairment of capitalized internal-use software
5,156
—
5,156
—
Add: Restructuring(2)
—
1,663
46
1,663
Non-GAAP operating loss
$ (4,115)
$ (9,932)
$ (31,309)
$ (41,325)
Operating margin
(45) %
(44) %
(47) %
(45) %
Non-GAAP operating margin
(8) %
(24) %
(17) %
(27) %
Three Months Ended January 31,
Year Ended January 31,
2024
2023
2024
2023
Reconciliation of GAAP net loss to non-GAAP net loss:
Net loss
$ (21,402)
$ (16,614)
$ (80,183)
$ (68,494)
Add: Stock-based compensation expense
12,626
6,791
45,773
25,721
Add: Employer taxes on employee stock transactions
696
116
2,253
606
Add: Impairment of capitalized internal-use software
5,156
—
5,156
—
Add: Restructuring(2)
—
1,663
46
1,663
Non-GAAP net loss
$ (2,924)
$ (8,044)
$ (26,955)
$ (40,504)
GAAP net loss per share
$ (0.44)
$ (0.37)
$ (1.70)
$ (1.53)
Non-GAAP net loss per share
$ (0.06)
$ (0.18)
$ (0.57)
$ (0.90)
Weighted average shares outstanding, basic and diluted
48,513
45,281
47,175
44,787
_______________________________
(2)
For the twelve months ended January 31, 2024 and the three and twelve months ended January 31, 2023, an immaterial amount of stock-based compensation expense related to restructuring charges was included in the restructuring expense line.
The following table presents a reconciliation of free cash flow to net cash used in operating activities, the most directly comparable GAAP measure, for each of the periods indicated (in thousands, unaudited):
Three Months Ended January 31,
Year Ended January 31,
2024
2023
2024
2023
Net cash used in operating activities
$ (6,450)
$ (10,203)
$ (26,893)
$ (41,185)
Less: Additions to property and equipment
(1,285)
(1,553)
(4,710)
(5,646)
Free cash flow
$ (7,735)
$ (11,756)
$ (31,603)
$ (46,831)
Net cash provided by (used in) investing activities
$ (2,667)
$ 10,221
$ 15,426
$ (23,366)
Net cash provided by financing activities
$ 3,580
$ 1,189
$ 12,933
$ 9,706
Couchbase, Inc.
Key Business Metrics
(in millions)
(unaudited)
As of
April 30,
July 31,
Oct. 31,
Jan. 31,
April 30,
July 31,
Oct. 31,
Jan. 31,
2022
2022
2022
2023
2023
2023
2023
2024
Annual Recurring Revenue
$ 139.7
$ 145.2
$ 151.7
$ 163.7
$ 172.2
$ 180.7
$ 188.7
$ 204.2
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SOURCE Couchbase, Inc.
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23 minutes agoon
December 24, 2024By
A guide to short-term Bitcoin mining, featuring BitFuFu, ZT Mining, and Hashing24 for flexible contracts and quick profits.
READING, England, Dec. 24, 2024 /PRNewswire-PRWeb/ — Engaging in bitcoin mining presents an accessible and potentially lucrative venture for those intrigued by digital currencies but reluctant to endure the complexities and long timelines associated with traditional investment routes.
Short-term mining contracts are popular among beginners as they look to improve their understanding of the market. These contracts range from as brief as a day to several months, offering immediate entry into the mining scene without the long-term entanglements.
The appeal of short-term bitcoin mining is magnified by the ease of access to these services. Legit cloud mining platforms give individuals the opportunity to lease mining power remotely and eliminate traditional obstacles such as acquiring and maintaining hardware. Investors simply select a mining plan that aligns with their financial objectives and risk tolerance, and the platform handles the operational complexities
BitFuFu Cloud Mining
BitFuFu offers a diverse range of contracts, from short to medium-term, tailored to different risk appetites and investment levels. For those looking for quick, low-risk ventures, the Easy Mining plans range from 3 to 50 days, with a starting investment as low as . These plans are ideal for newcomers wanting to dip their toes in mining without significant upfront costs. For example, the Easy Mining 3 Days plan, with an estimated acquisition cost of 5,602.2, starts investments at , promising a low-risk and low-return profile.
On the other hand, BitFuFu’s Pro Mining contracts target more seasoned miners looking for higher returns, albeit with higher risks. The Pro Mining S19 XP 30 Days plan, for instance, boasts a 107.48% return, indicative of the lucrative possibilities for those willing to invest more heavily in their mining endeavors.
ZT Mining
ZT Mining lets you mine over ten different cryptocurrencies like Bitcoin, Dogecoin, Monero, and Zcash. This means you can pick and choose and not just stick to one kind, making it fun to try out different ones. They also make sure everything is super safe. They use special security to protect your information and have strong defenses against online attacks, so everything runs smoothly without any interruptions.
ZT Mining is really cool because it has lots of different mining contracts that can last just a day or even longer, so you can see how much money you can make in a short time or a bit longer. They have a special starter package for only $35, and it’s just for one day. If you try this, you’ll get $36 back the next day, which means you make a $1 profit.
That’s pretty awesome for just a day’s work, right? Plus, if you feel like going bigger, they have longer plans where you can earn a lot more money, like the 15-day plan for mining Dogecoin that can make you thousands in profit!
Hashing24
Hashing24 makes it easy to get into bitcoin mining with its straightforward contracts that last anywhere from 3 to 24 months. Every contract has a steady hash rate of 60 MH/s, perfect for those who want a predictable and simple mining experience.
For those just starting out or looking for a short-term investment, Hashing24’s 3-Month Plan is a great entry point. It’s priced at $22.20 and offers an estimated mining return of $22.21, essentially allowing you to make back your initial investment quickly. It is ideal for testing the waters of cloud mining without committing to a long-term plan.
Investors aiming for substantial long-term gains will find the 24-Month Plan an excellent option. Priced at $111.60, it offers a projected return of 159%, appealing to those prepared to commit to a longer investment period for significant earnings.
Conclusion
Picking the right cloud mining platform is super important if you want to make money with Bitcoin without doing much work. Platforms like BitFuFu, ZT Mining, and Hashing24 have different plans that last for various times and cost different amounts of money. This means you can find one that fits what you’re comfortable with, whether you’re just getting started with cryptocurrency or you want to make a lot of money. By choosing the best plan for you, you can make your money work for you and watch as it grows over time.
Media Contact
Nancy.Delia, ZT CLOUD SERVICES LIMITED, 44 7301463290, support@ztmining.com, https://ztmining.vip
View original content to download multimedia:https://www.prweb.com/releases/passive-bitcoin-income-the-best-cloud-mining-platforms-for-reliable-earnings-302338359.html
SOURCE ZT Mining
Technology
CATL Launches the Bedrock Chassis That Withstands 120 km/h Impact Without Catching Fire or Exploding
Published
23 minutes agoon
December 24, 2024By
NINGDE, China, Dec. 24, 2024 /CNW/ — On December 24th, CATL officially launched the CATL Bedrock Chassis, the world’s first ultra-safe skateboard chassis. With its outstanding performance of withstanding 120 km/h frontal impact without catching fire or exploding, CATL’s Bedrock Chassis sets a new standard for intelligent chassis safety, providing comprehensive protection across all scenarios and speed ranges.
Lead the industry with the most stringent safety tests
With the battery-centered design, CATL’s Bedrock Chassis utilizes Cell-to-Chassis integration technology, which directly integrates the battery cells into the chassis, allowing for a shared structural design between them. And based on the decoupling of the chassis from the upper body, the Bedrock Chassis is capable of absorbing 85% of the vehicle’s collision energy (compared to around 60% absorbed by traditional chassis).
Through various technological breakthroughs, the Bedrock Chassis successfully passed the world’s first “highest speed + strongest impact” dual extreme safety test. This achievement enables the chassis to pass the 120 km/h frontal central pole impact test without catching fire, exploding or thermal runway, redefining the benchmark for safety in the industry.
Currently, the speed for frontal impact safety test in the commonly used C-NCAP (China New Car Assessment Program) is 56km/h, which, when experiencing a frontal impact at this speed, generates collision energy equivalent to falling from 12-meter-high building. In comparison, a frontal impact at 120km/h is equivalent to falling from a 56-meter-high building, generating a collision energy 4.6 times that of collision at 56km/h.
In more stringent frontal pole crash tests, which simulate crashes with non-standard objects such as power poles, large trees, or animals, the impact area is only 1/6 of that in a full-width frontal impact, exponentially increasing impact pressure. At a speed of 120km/h, the impact pressure on the chassis per unit area in a frontal central pole impact is 21 times that of the 56 km/h full-width frontal impact in C-NCAP testing.
Due to the extremely high crash speed and intensity, there has been no previous instance of any new energy vehicle daring to challenge a 120km/h frontal pole impact test. With this extreme challenge, CATL’s Bedrock Chassis has blazed a fresh trail for the industry.
Open the era of ultra-safe transportation through three technological breakthroughs
CATL’s Bedrock Chassis has delved deep into the realm of structure and material innovation, leveraging three technological breakthroughs to provide unparalleled protection in all scenarios and speed ranges, ensuring rock-solid safety for the entire vehicle.
The CATL Bedrock Chassis introduces a revolutionary three-dimensional biomimetic tortoise shell structure, where the body and energy unit framework are integrated, deeply coupled to provide the energy unit with indestructible protection. And its aircraft carrier-grade arresting structure disperses impact forces across multiple pathways during a crash, gradually decelerating the vehicle and significantly reducing the depth and speed at which obstacles intrude the cabin. The utilization of submarine-grade hot-formed steel with a strength of 2000MPa, aerospace-grade aluminum alloy with a strength of 600MPa, and multiple barrier structures further enhance the chassis’ rigidity, making it virtually impervious.
Moreover, the CATL Bedrock Chassis incorporates an ultra-safe battery cell design, NP technology, and a high-ductility energy-absorbing insulation film, leading the industry in a groundbreaking manner. In terms of high-voltage disconnection, it achieves instantaneous disconnection of high voltage circuit within 0.01 seconds of impact and completes the discharge of residual high-voltage energy in the vehicle within 0.2 seconds, setting a new industry record.
Notably, the battery cells have undergone highly demanding tests, including high-speed sled impact tests at 60 km/h, 90-degree bending tests, and breakthrough sawing tests, the battery did not catch fire or explode across all three tests. These tests, all industry-firsts by CATL, have elevated the safety standards of battery cells to new heights.
Unlocking the era of customization, and activating a trillion-yuan market
The launch of the Bedrock Chassis not only redefines the standard for intelligent chassis safety but also activates a trillion-yuan market. It greatly accelerates the shift towards modular, personalized, and intelligent automotive design.
Addressing the common pain points of high investment, long development cycles, and accelerated product iteration in the industry, the Bedrock Chassis incorporates three core characteristics: internal integration, decoupling of the chassis from the upper body, and external openness. With a rich array of toolkits and solution packages, it offers a scalable software and hardware architecture and standardized interfaces, enabling flexible configurations for different vehicle models and scenarios. This allows the realization of a “one chassis architecture, multiple vehicle models” concept and significantly improves development efficiency and shortens the R&D cycle. The time required for mass production of a vehicle is reduced from the traditional 36 months or longer to 12 to 18 months.
Furthermore, the Bedrock Chassis breaks the limits of safety and modeling, and expands design flexibility through the design of decoupling of the chassis from the upper body. The fourth-generation Cell-to-Chassis (CTC) technology and inverted battery cell technology enhance the utilization of chassis space while reducing the risk of chassis scraping. Additionally, in terms of intelligence, the chassis supports mechanical decoupling, software decoupling and EE decoupling, enabling L3 to L4 intelligent driving capabilities. It provides high adaptability interfaces and promotes collaborative intelligent applications.
At the launch ceremony, AVATR, the first automaker to use Bedrock Chassis, and CAIT-SH, CATL’s skateboard chassis arm, signed an agreement to deepen cooperation on CATL’s Bedrock Chassis to create a safer, higher-quality travel experience for users.
Safety is a never-ending journey. In the future, CATL will continue to break technological barriers through continuous innovation, and work with partners to build a safe ecosystem for EV batteries and vehicles, safeguarding the safety of users.
View original content to download multimedia:https://www.prnewswire.com/news-releases/catl-launches-the-bedrock-chassis-that-withstands-120-kmh-impact-without-catching-fire-or-exploding-302338927.html
SOURCE Contemporary Amperex Technology Co., Limited (CATL)
Technology
Live Good: A Journey of Courage, Education and Purpose
Published
1 hour agoon
December 24, 2024By
Live Good is the realization of one individual’s inspiring vision to create something meaningful to share with the world.
IRVINE, Calif., Dec. 24, 2024 /PRNewswire/ — Founded on the principles of time, education and a sense of purpose, Live Good aspires to empower individuals through access to transformative learning opportunities.
“When I finally found the courage to create Live Good, I wanted it to embody the values and principles that I find meaningful,” said Jennifer Chi, founder of Live Good. “To me, the most precious resource in life is time. The time you spend can never be reclaimed. If I was going to spend all this time and energy on something, it had to be something I deeply believed in.”
The second cornerstone of Live Good is education. Drawing from personal experiences, Jennifer emphasizes education as a life-changing force. Books became vital growing up, opening windows to new perspectives and worlds. “My favorite book as a child was Little House on the Prairie by Laura Ingalls Wilder,” Jennifer shared. “It may have been a simple book about a girl living in the 1800s learning how to cook and do chores to help her family, but now I understand how incredible it was that a little girl living back then even knew how to read and write. She had the foresight to understand that writing about her life on the prairie, however simple it seemed, might be of some importance in the future. And she had the courage to publish her own words.”
Recognizing the transformative power of education and the impact of mentorship, Live Good prioritizes access to education as a central mission. “My love for reading and curiosity for learning became a lifeline,” Jennifer added. “I was blessed with teachers who saw potential in a very quiet and shy little girl. Live Good is my way of giving others the same opportunities that once gave me a little spark inside and a pathway forward.”
Through innovative programs and partnerships, Live Good aims to make education accessible and foster growth and resilience. It’s more than an initiative—it’s a testament to the belief that every moment spent on meaningful endeavors can ripple out to create a brighter future for others.
Live Good proudly aligns with educational models, such as Capstone Programs in the University of California (UC) school system. These programs serve as a bridge between academic learning and real-world application, embodying the mission of Live Good by fostering life-changing learning experiences.
Other educational initiatives focus on collaborating with Women in Information and Computer Sciences within the UC system to create programs that empower women through high-tech training. Additionally, Live Good offers a mentorship program for at-risk youth from schools spanning San Francisco to Southern California to foster college admission and equip students with the skills they need to realize their dreams.
For more information about Live Good Inc, and to sign up for their newsletter, visit Live Good Inc. Follow on Instagram, Facebook and Threads.
Contact:
Adrienne Johnson
***@gmail.com
Photos:
https://www.prlog.org/13053993
Press release distributed by PRLog
View original content:https://www.prnewswire.com/news-releases/live-good-a-journey-of-courage-education-and-purpose-302338750.html
SOURCE Live Good Inc.
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