MongoDB, Inc. Announces Second Quarter Fiscal 2025 Financial Results
Second Quarter Fiscal 2025 Total Revenue of $478.1 million, up 13% Year-over-Year
Continued Strong Customer Growth with Over 50,700 Customers as of July 31, 2024
MongoDB Atlas Revenue up 27% Year-over-Year; 71% of Total Q2 Revenue
NEW YORK, Aug. 29, 2024 /PRNewswire/ -- MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the second quarter ended July 31, 2024.
"MongoDB delivered healthy second quarter results, highlighted by strong new workload acquisition and better-than-expected Atlas consumption trends. Our continued success in winning new workloads demonstrates the critical role MongoDB's platform plays in modern application development," said Dev Ittycheria, President and Chief Executive Officer of MongoDB.
"We remain excited about our opportunity to continue capturing share in one of the largest markets in software. Today, companies of all sizes and across nearly every industry and geography rely on MongoDB to build the software that helps them run and transform their business. We believe we are incredibly well positioned to help customers incorporate generative AI into their business and modernize their legacy application estate."
Second Quarter Fiscal 2025 Financial Highlights
-- Revenue: Total revenue was $478.1 million for the second quarter of
fiscal 2025, an increase of 13% year-over-year. Subscription revenue was
$463.8 million, an increase of 13% year-over-year, and services revenue
was $14.3 million, a decrease of 1% year-over-year.
-- Gross Profit: Gross profit was $349.9 million for the second quarter of
fiscal 2025, representing a 73% gross margin compared to 75% in the
year-ago period. Non-GAAP gross profit was $360.8 million, representing
a 75% non-GAAP gross margin, compared to a non-GAAP gross margin of 78%
in the year-ago period.
-- Loss from Operations: Loss from operations was $71.4 million for the
second quarter of fiscal 2025, compared to a loss from operations of
$49.0 million in the year-ago period. Non-GAAP income from operations
was $52.5 million, compared to non-GAAP income from operations of $79.1
million in the year-ago period.
-- Net Loss: Net loss was $54.5 million, or $0.74 per share, based on 73.5
million weighted-average shares outstanding, for the second quarter of
fiscal 2025. This compares to a net loss of $37.6 million, or $0.53 per
share, in the year-ago period. Non-GAAP net income was $59.0 million, or
$0.70 per share, based on 83.8 million diluted weighted-average shares
outstanding. This compares to a non-GAAP net income of $76.7 million, or
$0.93 per share, in the year-ago period.
-- Cash Flow: As of July 31, 2024, MongoDB had $2.3 billion in cash, cash
equivalents, short-term investments and restricted cash. During the
three months ended July 31, 2024, MongoDB used $1.4 million of cash in
operations, used $1.1 million of cash in capital expenditures and used
$1.5 million of cash in principal repayments of finance leases, leading
to negative free cash flow of $4.0 million, compared to negative free
cash flow of $27.3 million in the year-ago period.
A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."
Second Quarter Fiscal 2025 and Recent Business Highlights
-- The MongoDB AI Applications Program (MAAP) was made generally available
to customers in July. MAAP brings together an ecosystem of
companies--including tech leaders like AWS, Google Cloud, Microsoft
Azure, and Accenture as well as gen AI innovators like Anthropic, Cohere
and Fireworks AI--to offer an end-to-end AI technology stack,
professional services, and a unified support system that helps customers
quickly build and deploy AI applications. Organizations are eager to
adopt AI, and MAAP makes it easier for them to confidently move from
concept to production.
-- MongoDB Atlas Vector Search was named the most loved and second-most
used vector database on the market for the second year in a row in
Retool's 2024 State of AI report. Since introducing Atlas Vector Search
last year, MongoDB has quickly become a trusted partner for customers
looking to build powerful AI applications.
-- MongoDB continues to be a critical partner to hyperscalers around the
world. Most recently, MongoDB was named Amazon Web Services's (AWS)
Technology Partner of the Year in Taiwan, AWS's Global Software Partner
of the Year in ASEAN, and Microsoft's Global ISV Partner of the Year in
Spain. With availability in 118 AWS, Google Cloud, and Microsoft Azure
cloud regions globally, AI-focused technology integrations with all
three major cloud providers, and a growing presence in the major cloud
marketplaces, developers can frictionlessly run MongoDB Atlas-backed
applications anywhere.
Third Quarter and Full Year Fiscal 2025 Guidance
Based on information available to management as of today, August 29, 2024, MongoDB is issuing the following financial guidance for the third quarter and full year fiscal 2025.
Third Quarter Fiscal 2025 Full Year Fiscal 2025
Revenue
$493.0 million to $497.0 million
$1.92 billion to $1.93 billion
Non-GAAP Income from Operations
$57.0 million to $60.0 million
$187.0 million to $195.0 million
Non-GAAP Net Income per Share
$0.65 to $0.68
$2.33 to $2.47
Reconciliations of non-GAAP income from operations and non-GAAP net income per share guidance to the most directly comparable GAAP measures are not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in MongoDB's stock price. MongoDB expects the variability of the above charges to have a significant, and potentially unpredictable, impact on its future GAAP financial results.
Conference Call Information
MongoDB will host a conference call today, August 29, 2024, at 5:00 p.m. (Eastern Time) to discuss its financial results and business outlook. A live webcast of the call will be available on the "Investor Relations" page of MongoDB's website at https://investors.mongodb.com. To access the call by phone, please go to this link (registration link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at http://investors.mongodb.com.
Forward-Looking Statements
This press release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning MongoDB's financial guidance for the third fiscal quarter and full year fiscal 2025 and underlying assumptions, our ability to capitalize on our market opportunity and deliver strong growth for the foreseeable future as well as the criticality of MongoDB to artificial intelligence application development. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "will," "would" or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: our customers renewing their subscriptions with us and expanding their usage of software and related services; the effects of the ongoing military conflicts between Russia and Ukraine and Israel and Hamas on our business and future operating results; economic downturns and/or the effects of rising interest rates, inflation and volatility in the global economy and financial markets on our business and future operating results; our potential failure to meet publicly announced guidance or other expectations about our business and future operating results; our limited operating history; our history of losses; failure of our platform to satisfy customer demands; the effects of increased competition; our investments in new products and our ability to introduce new features, services or enhancements; our ability to effectively expand our sales and marketing organization; our ability to continue to build and maintain credibility with the developer community; our ability to add new customers or increase sales to our existing customers; our ability to maintain, protect, enforce and enhance our intellectual property; the effects of social, ethical and regulatory issues relating to the use of new and evolving technologies, such as artificial intelligence, in our offerings or partnerships; the growth and expansion of the market for database products and our ability to penetrate that market; our ability to integrate acquired businesses and technologies successfully or achieve the expected benefits of such acquisitions; our ability to maintain the security of our software and adequately address privacy concerns; our ability to manage our growth effectively and successfully recruit and retain additional highly-qualified personnel; and the price volatility of our common stock. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission ("SEC"), including under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2024, filed with the SEC on May 31, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2024, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
Non-GAAP Financial Measures
This press release includes the following financial measures defined as non-GAAP financial measures by the SEC: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share and free cash flow. Non-GAAP gross profit and non-GAAP gross margin exclude expenses associated with stock-based compensation. Non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income and non-GAAP net income per share exclude:
-- expenses associated with stock-based compensation including employer
payroll taxes upon the vesting and exercising of stock-based awards and
expenses related to stock appreciation rights previously issued to our
employees in China;
-- amortization of intangible assets for the acquired technology and
acquired customer relationships associated with prior acquisitions; and
-- in the case of non-GAAP net income and non-GAAP net income per share,
amortization of the debt issuance costs associated with our convertible
senior notes and gains or losses on our financial instruments;
-- additionally, non-GAAP net income and non-GAAP net income per share are
adjusted for an assumed provision for income taxes based on an estimated
long-term non-GAAP tax rate. The non-GAAP tax rate was calculated
utilizing a three-year financial projection that excludes the direct
impact of the GAAP to non-GAAP adjustments and considers other factors
such as operating structure and existing tax positions in various
jurisdictions. We intend to periodically reevaluate the projected
long-term tax rate, as necessary, for significant events and our ongoing
analysis of relevant tax law changes.
MongoDB uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating MongoDB's ongoing operational performance. MongoDB believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in MongoDB's industry, many of which may present similar non-GAAP financial measures to investors.
Free cash flow represents net cash from/used in operating activities, less capital expenditures, principal repayments of finance lease liabilities and capitalized software development costs, if any. MongoDB uses free cash flow to understand and evaluate its liquidity and to generate future operating plans. The exclusion of capital expenditures, principal repayments of finance lease liabilities and amounts capitalized for software development facilitates comparisons of MongoDB's liquidity on a period-to-period basis and excludes items that it does not consider to be indicative of its liquidity. MongoDB believes that free cash flow is a measure of liquidity that provides useful information to investors in understanding and evaluating the strength of its liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business in the same manner as MongoDB's management and board of directors.
Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In particular, other companies may report non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP net income, non-GAAP net income per share, free cash flow or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, as presented below. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of MongoDB's website at https://investors.mongodb.com.
About MongoDB
Headquartered in New York, MongoDB's mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, MongoDB's developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today's wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses. To learn more, visit mongodb.com.
Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com
Media Relations
MongoDB
press@mongodb.com
MONGODB, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands of U.S. dollars, except share and per share data)
(unaudited)
July 31, 2024 January 31,
2024
Assets
Current assets:
Cash and cash equivalents $1,290,901 $802,959
Short-term investments 973,933 1,212,448
Accounts receivable, net of allowance for doubtful accounts of $7,879 and $8,054 as of July 31, 311,166 325,610
2024 and January 31, 2024, respectively
Deferred commissions 97,644 92,512
Prepaid expenses and other current assets 48,403 50,107
Total current assets 2,722,047 2,483,636
Property and equipment, net 48,389 53,042
Operating lease right-of-use assets 36,873 37,365
Goodwill 69,679 69,679
Acquired intangible assets, net 1,133 3,957
Deferred tax assets 4,765 4,116
Other assets 248,344 217,847
Total assets $3,131,230 $2,869,642
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable $10,135 $9,905
Accrued compensation and benefits 112,063 112,579
Operating lease liabilities 11,048 9,797
Other accrued liabilities 100,795 74,831
Deferred revenue 307,114 357,108
Total current liabilities 541,155 564,220
Deferred tax liability 1,061 285
Operating lease liabilities 28,877 30,918
Deferred revenue 15,612 20,296
Convertible senior notes, net 1,144,977 1,143,273
Other liabilities 36,501 41,661
Total liabilities 1,768,183 1,800,653
Stockholders' equity:
Common stock, par value of $0.001 per share; 1,000,000,000 shares authorized as of July 31, 2024 73 73
and January 31, 2024; 73,963,083 shares issued and 73,863,712 shares outstanding as of July 31,
2024; 72,840,692 shares issued and 72,741,321 shares outstanding as of January 31, 2024
Additional paid-in capital 3,210,146 2,777,322
Treasury stock, 99,371 shares (repurchased at an average of $13.27 per share) as of July 31, 2024 (1,319) (1,319)
and January 31, 2024
Accumulated other comprehensive income 901 4,545
Accumulated deficit (1,846,754) (1,711,632)
Total stockholders' equity 1,363,047 1,068,989
Total liabilities and stockholders' equity $3,131,230 $2,869,642
MONGODB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
(unaudited)
Three Months Ended July 31, Six Months Ended July 31,
2024 2023 2024 2023
Revenue:
Subscription $463,805 $409,334 $900,701 $764,048
Services 14,304 14,457 27,969 28,023
Total revenue 478,109 423,791 928,670 792,071
Cost of revenue:
Subscription(1) 106,816 84,822 207,578 162,995
Services(1) 21,437 20,515 43,372 39,791
Total cost of revenue 128,253 105,337 250,950 202,786
Gross profit 349,856 318,454 677,720 589,285
Operating expenses:
Sales and marketing(1) 221,539 195,934 440,983 378,667
Research and development(1) 148,967 125,420 295,027 242,237
General and administrative(1) 50,790 46,103 111,336 85,931
Total operating expenses 421,296 367,457 847,346 706,835
Loss from operations (71,440) (49,003) (169,626) (117,550)
Other income, net 20,808 14,994 40,982 31,782
Loss before provision for income taxes (50,632) (34,009) (128,644) (85,768)
Provision for income taxes 3,897 3,588 6,478 6,075
Net loss $(54,529) $(37,597) $(135,122) $(91,843)
Net loss per share, basic and diluted $(0.74) $(0.53) $(1.84) $(1.30)
Weighted-average shares used to compute net loss per 73,543,427 70,874,117 73,269,824 70,531,581
share, basic and diluted
(1) Includes stock?based compensation expense as follows:
Three Months Ended July 31, Six Months Ended July 31,
2024 2023 2024 2023
Cost of revenue-subscription $7,519 $6,075 $13,682 $11,589
Cost of revenue-services 3,401 3,342 6,656 6,290
Sales and marketing 41,040 40,376 80,653 77,982
Research and development 55,188 48,413 110,361 92,479
General and administrative 15,275 15,106 31,834 28,927
Total stock?based compensation expense $122,423 $113,312 $243,186 $217,267
MONGODB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
Three Months Ended July 31, Six Months Ended July 31,
2024 2023 2024 2023
Cash flows from operating activities
Net loss $(54,529) $(37,597) $(135,122) $(91,843)
Adjustments to reconcile net loss to net cash provided by operating
activities:
Depreciation and amortization 2,349 4,173 7,175 8,546
Stock-based compensation 122,423 113,312 243,186 217,267
Amortization of debt discount and issuance costs 852 847 1,704 1,694
Amortization of finance right-of-use assets 994 993 1,987 1,987
Amortization of operating right-of-use assets 2,592 2,254 5,071 4,479
Deferred income taxes 19 (189) 26 (377)
Amortization of premium and accretion of discount on short-term (5,680) (12,279) (13,461) (25,509)
investments, net
Realized and unrealized gain (loss) on financial instruments, net (373) 932 (852) (1,294)
Unrealized foreign exchange loss 1,089 870 1,204 1,299
Change in operating assets and liabilities:
Accounts receivable, net (46,027) (61,206) 13,299 12,158
Prepaid expenses and other current assets 149 124 1,382 (2,785)
Deferred commissions (15,153) (7,104) (19,973) (4,440)
Other long-term assets (9,475) (92) (9,309) (138)
Accounts payable 746 (52) 199 (356)
Accrued liabilities 22,687 16,090 29,213 3,459
Operating lease liabilities (3,183) (2,262) (5,368) (4,656)
Deferred revenue (16,882) (44,084) (54,313) (91,350)
Other liabilities, non-current (3,996) (32) (3,833) 287
Net cash (used in) provided by operating activities (1,398) (25,302) 62,215 28,428
Cash flows from investing activities
Purchases of property and equipment (1,051) (635) (1,590) (1,258)
Investments in non-marketable securities (5,500) (750) (5,500) (2,056)
Proceeds from maturities of marketable securities 310,000 475,000 435,000 755,000
Purchases of marketable securities (13,029) (583,810) (185,633) (650,599)
Net cash provided by (used in) investing activities 290,420 (110,195) 242,277 101,087
Cash flows from financing activities
Proceeds from settlement of capped calls 170,589 170,589
Proceeds from the issuance of common stock under the Employee 18,640 19,781 18,640 19,781
Stock Purchase Plan
Proceeds from exercise of stock options 353 2,037 1,306 3,509
Principal payments of finance leases (1,546) (1,361) (3,639) (2,703)
Net cash provided by financing activities 188,036 20,457 186,896 20,587
Effect of exchange rate changes on cash, cash equivalents and restricted cash (968) 706 (2,551) 1,415
Net increase (decrease) in cash, cash equivalents and restricted cash 476,090 (114,334) 488,837 151,517
Cash, cash equivalents and restricted cash, beginning of period 816,390 722,190 803,643 456,339
Cash, cash equivalents and restricted cash, end of period $1,292,480 $607,856 $1,292,480 $607,856
MONGODB, INC.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(in thousands, except share and per share data)
(unaudited)
Three Months Ended July 31, Six Months Ended July 31,
2024 2023 2024 2023
Reconciliation of GAAP gross profit to non-GAAP gross profit:
Gross profit on a GAAP basis $349,856 $318,454 $677,720 $589,285
Gross margin (Gross profit/Total revenue) on a GAAP basis 73 % 75 % 73 % 74 %
Add back:
Expenses associated with stock-based compensation: Cost of 7,650 6,364 14,147 12,051
Revenue-Subscription
Expenses associated with stock-based compensation: Cost of 3,281 4,156 6,754 7,541
Revenue-Services
Non-GAAP gross profit $360,787 $328,974 $698,621 $608,877
Non-GAAP gross margin (Non-GAAP gross profit/Total revenue) 75 % 78 % 75 % 77 %
Reconciliation of GAAP operating expenses to non-GAAP
operating expenses:
Sales and marketing operating expense on a GAAP basis $221,539 $195,934 $440,983 $378,667
Less:
Expenses associated with stock-based compensation 40,820 47,958 82,974 88,289
Amortization of intangible assets - 760 85 1,520
Non-GAAP sales and marketing operating expense $180,719 $147,216 $357,924 $288,858
Research and development operating expense on a GAAP basis $148,967 $125,420 $295,027 $242,237
Less:
Expenses associated with stock-based compensation 56,389 50,822 114,150 96,546
Amortization of intangible assets 170 1,535 2,738 3,070
Non-GAAP research and development operating expense $92,408 $73,063 $178,139 $142,621
General and administrative operating expense on a GAAP basis $50,790 $46,103 $111,336 $85,931
Less:
Expenses associated with stock-based compensation 15,647 16,525 34,092 31,306
Non-GAAP general and administrative operating expense $35,143 $29,578 $77,244 $54,625
Reconciliation of GAAP loss from operations to non-GAAP income
from operations:
Loss from operations on a GAAP basis $(71,440) $(49,003) $(169,626) $(117,550)
GAAP operating margin (Loss from operations/Total revenue) (15) % (12) % (18) % (15) %
Add back:
Expenses associated with stock-based compensation 123,787 125,825 252,117 235,733
Amortization of intangible assets 170 2,295 2,823 4,590
Non-GAAP income from operations $52,517 $79,117 $85,314 $122,773
Non-GAAP operating margin (Non-GAAP Income from 11 % 19 % 9 % 16 %
operations/Total revenue)
Reconciliation of GAAP net loss to non-GAAP net income:
Net loss on a GAAP basis $(54,529) $(37,597) $(135,122) $(91,843)
Add back:
Expenses associated with stock-based compensation 123,787 125,825 252,117 235,733
Amortization of intangible assets 170 2,295 2,823 4,590
Amortization of debt issuance costs related to convertible senior 852 847 1,704 1,694
notes
Less:
Gains on financial instruments, net 373 (932) 852 1,294
Income tax effects and adjustments * 10,864 15,590 18,952 24,916
Non-GAAP net income $59,043 $76,712 $101,718 $123,964
Reconciliation of GAAP net loss per share, basic and diluted, to
non-GAAP net income per share, basic and diluted:
Net loss per share, basic and diluted, on a GAAP basis $(0.74) $(0.53) $(1.84) $(1.30)
Add back:
Expenses associated with stock-based compensation 1.68 1.78 3.44 3.34
Amortization of intangible assets - 0.03 0.04 0.07
Amortization of debt issuance costs related to convertible senior 0.01 0.01 0.02 0.02
notes
Less:
Gains on financial instruments, net 0.01 (0.01) 0.01 0.02
Income tax effects and adjustments * 0.15 0.22 0.26 0.35
Non-GAAP net income per share, basic $0.79 $1.08 $1.39 $1.76
Adjustment for fully diluted earnings per share (0.09) (0.15) (0.17) (0.25)
Non-GAAP net income per share, diluted ** $0.70 $0.93 $1.22 $1.51
* Non-GAAP financial information is adjusted for an assumed provision for income taxes based on our long-term projected tax rate of 20%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities.
** Diluted non-GAAP net income per share is calculated based upon 83.8 million and 83.5 million of diluted weighted-average shares of outstanding common stock for the three and six months ended July 31, 2024, respectively, and 82.5 million and 82.1 million of diluted weighted-average shares of outstanding common stock for the three and six months ended July 31, 2023, respectively.
The following table presents a reconciliation of free cash flow to net cash (used in) provided by operating activities, the most directly comparable GAAP measure, for each of the periods indicated (unaudited, in thousands):
Three Months Ended July 31, Six Months Ended July 31,
2024 2023 2024 2023
Net cash (used in) provided by operating activities $(1,398) $(25,302) $62,215 $28,428
Capital expenditures (1,051) (635) (1,590) (1,258)
Principal repayments of finance leases (1,546) (1,361) (3,639) (2,703)
Capitalized software
Free cash flow $(3,995) $(27,298) $56,986 $24,467
MONGODB, INC.
CUSTOMER COUNT METRICS
The following table presents certain customer count information as of the periods indicated:
7/31/2022 10/31/2022 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024
Total Customers (a) 37,000+ 39,100+ 40,800+ 43,100+ 45,000+ 46,400+ 47,800+ 49,200+ 50,700+
Direct Sales Customers(b) 5,400+ 5,900+ 6,400+ 6,700+ 6,800+ 6,900+ 7,000+ 7,100+ 7,300+
MongoDB Atlas Customers 35,500+ 37,600+ 39,300+ 41,600+ 43,500+ 44,900+ 46,300+ 47,700+ 49,200+
Customers over $100K(c) 1,462 1,545 1,651 1,761 1,855 1,972 2,052 2,137 2,189
(a) Our definition of "customer" excludes users of our free offerings and all affiliated entities are counted as a single customer.
(b) Direct Sales Customers are customers that were sold through our direct sales force and channel partners.
(c) Represents the number of customers with $100,000 or greater in annualized recurring revenue ("ARR") and annualized monthly recurring revenue ("MRR"). ARR includes the revenue we expect to receive from our customers over the following 12 months based on contractual commitments and, in the case of Direct Sales Customers of MongoDB Atlas, by annualizing the prior 90 days of their actual consumption of MongoDB Atlas, assuming no increases or reductions in their subscriptions or usage. For all
other customers of our self-serve products, we calculate annualized MRR by annualizing the prior 30 days of their actual consumption of such products, assuming no increases or reductions in usage. ARR and annualized MRR exclude professional services.
MONGODB, INC.
SUPPLEMENTAL REVENUE INFORMATION
The following table presents certain supplemental revenue information as of the periods indicated:
7/31/2022 10/31/2022 1/31/2023 4/30/2023 7/31/2023 10/31/2023 1/31/2024 4/30/2024 7/31/2024
MongoDB Enterprise 28 % 29 % 28 % 28 % 26 % 27 % 26 % 25 % 24 %
Advanced: % of
Subscription Revenue
Direct Sales Customers(a) 86 % 87 % 88 % 88 % 88 % 88 % 88 % 87 % 87 %
Revenue: % of
Subscription Revenue
(a) Direct Sales Customers are customers that were sold through our direct sales force and channel partners.
View original content to download multimedia:https://www.prnewswire.com/news-releases/mongodb-inc-announces-second-quarter-fiscal-2025-financial-results-302234446.html
SOURCE MongoDB, Inc.
