MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2025 Financial Results

Fourth Quarter Fiscal 2025 Total Revenue of $548.4 million, up 20% Year-over-Year

Full Year Fiscal 2025 Total Revenue of $2.01 billion, up 19% Year-over-Year

Continued Strong Customer Growth with Over 54,500 Customers as of January 31, 2025

MongoDB Atlas Revenue up 24% Year-over-Year; 71% of Total Q4 Revenue

NEW YORK, March 5, 2025 /PRNewswire/ -- MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the fourth quarter and fiscal year ended January 31, 2025.

"MongoDB delivered a strong end to fiscal 2025 with 24% Atlas revenue growth and significant margin expansion. Atlas consumption in the quarter was better than expected and we continue to see good performance in new workload wins due to the flexibility, scalability and performance of the MongoDB platform. In fiscal year 2026 we expect to see stable consumption growth in Atlas, our main growth driver," said Dev Ittycheria, President and Chief Executive Officer of MongoDB.

"Looking ahead, we remain incredibly excited about our long-term growth opportunity. MongoDB removes the constraints of legacy databases, enabling businesses to innovate at AI speed with our flexible document model and seamless scalability. Following the Voyage AI acquisition, we combine real-time data, sophisticated embedding and retrieval models and semantic search directly in the database, simplifying the development of trustworthy AI-powered apps."

Fourth Quarter Fiscal 2025 Financial Highlights

    --  Revenue:  Total revenue was $548.4 million for the fourth quarter of
        fiscal 2025, an increase of 20% year-over-year. Subscription revenue was
        $531.0 million, an increase of 19% year-over-year, and services revenue
        was $17.4 million, an increase of 34% year-over-year.
    --  Gross Profit:  Gross profit was $399.4 million for the fourth quarter of
        fiscal 2025, representing a 73% gross margin compared to 75% in the
        year-ago period. Non-GAAP gross profit was $411.7 million, representing
        a 75% non-GAAP gross margin, compared to a non-GAAP gross margin of 77%
        in the year-ago period.
    --  Loss from Operations: Loss from operations was $18.6 million for the
        fourth quarter of fiscal 2025, compared to a loss from operations of
        $71.0 million in the year-ago period. Non-GAAP income from operations
        was $112.5 million, compared to non-GAAP income from operations of $69.2
        million in the year-ago period.
    --  Net Income (Loss): Net income was $15.8 million, or $0.20 per share,
        based on 77.6 million weighted-average shares outstanding, for the
        fourth quarter of fiscal 2025. This compares to a net loss of $55.5
        million, or $0.77 per share, in the year-ago period. Non-GAAP net income
        was $108.4 million, or $1.28 per share, based on 84.6 million fully
        diluted weighted-average shares outstanding. This compares to a non-GAAP
        net income of $71.1 million, or $0.86 per share, in the year-ago period.
    --  Cash Flow: As of January 31, 2025, MongoDB had $2.3 billion in cash,
        cash equivalents, short-term investments and restricted cash. During the
        three months ended January 31, 2025, MongoDB generated $50.5 million of
        cash from operations, compared to $54.6 million of cash from operations
        in the year-ago period. MongoDB used $26.0 million of cash in capital
        expenditures and used $1.6 million of cash in principal payments of
        finance leases, leading to free cash flow of $22.9 million, compared to
        free cash flow of $50.5 million in the year-ago period.

Full Year Fiscal 2025 Financial Highlights

    --  Revenue: Total revenue was $2.01 billion for the full year fiscal 2025,
        an increase of 19% year-over-year. Subscription revenue was $1.94
        billion, an increase of 19% year-over-year, and services revenue was
        $62.6 million, an increase of 12% year-over-year.
    --  Gross Profit: Gross profit was $1.47 billion for the full year fiscal
        2025, representing a 73% gross margin compared to 75% in the year-ago
        period. Non-GAAP gross profit was $1.52 billion, representing a 76%
        non-GAAP gross margin, compared to a non-GAAP gross margin of 77% in the
        year-ago period.
    --  Loss from Operations: Loss from operations was $216.1 million for the
        full year fiscal 2025, compared to a loss from operations of $233.7
        million in the year-ago period. Non-GAAP income from operations was
        $299.3 million, compared to a non-GAAP income from operations of $270.4
        million in the year-ago period.
    --  Net Loss: Net loss was $129.1 million, or $1.73 per share, based on 74.6
        million weighted-average shares outstanding, for the full year fiscal
        2025. This compares to a net loss of $176.6 million, or $2.48 per share
        in the year-ago period. Non-GAAP net income was $308.2 million, or $3.66
        per share based on 84.1 million fully diluted weighted-average shares
        outstanding. This compares to a non-GAAP net income of $274.2 million,
        or $3.33 per share, in the year-ago period.
    --  Cash Flow: During the year ended January 31, 2025, MongoDB generated
        $150.2 million of cash from operations, compared to $121.5 million of
        cash from operations in the year-ago period. MongoDB used $29.6 million
        of cash in capital expenditures and used $6.2 million of cash in
        principal payments of finance leases, leading to free cash flow of
        $114.5 million, compared to free cash flow of $109.9 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."

Fourth Quarter Fiscal 2025 and Recent Business Highlights

    --  MongoDB acquired Voyage AI, a pioneer in state-of-the-art embedding and
        reranking models that power next-generation AI applications. Integrating
        Voyage AI's technology with MongoDB will enable organizations to easily
        build trustworthy, AI-powered applications by offering highly accurate
        and relevant information retrieval deeply integrated with operational
        data.
    --  MongoDB completed the redemption of 2026 Convertible Notes, eliminating
        all debt from the balance sheet. Additionally, in conjunction with the
        acquisition of Voyage, MongoDB is announcing a stock buyback program of
        $200 million, to offset the dilutive impact of the acquisition
        consideration.
    --  For the third consecutive year, MongoDB was named a Leader in the 2024
        Gartner® Magic Quadrant(TM) for Cloud Database Management Systems.
        Gartner evaluated 20 vendors based on Ability to Execute and
        Completeness of Vision.
    --  Lombard Odier, a Swiss private bank, partnered with MongoDB to migrate
        and modernize its legacy banking technology systems on MongoDB with
        generative AI. The initiative enabled the bank to migrate code 50-60
        times quicker and move applications from a legacy relational database to
        MongoDB 20 times faster than previous migrations.

First Quarter and Full Year Fiscal 2026 Guidance

Based on information available to management as of today, March 5, 2025, MongoDB is issuing the following financial guidance for the first quarter and full year fiscal 2026. Our full year guidance assumes that non-Atlas revenue will decline high-single digits in percentage terms on a year-over-year basis.


                                               First Quarter Fiscal           Full Year Fiscal
                                                        2026                          2026



            
     Revenue                 
       $524.0 million to $529.0 
     $2.240 billion to $2.280
                                            million                      billion


               Non-GAAP Income from      
       $54.0 million to $58.0 
     $210.0 million to $230.0
    Operations                              million                      million


               Non-GAAP Net Income per      
            $0.63 to $0.67    
            $2.44 to $2.62
    Share

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, March 5, 2025, 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 first fiscal quarter and full year fiscal 2026 and underlying assumptions, our expectations regarding Atlas consumption growth and the benefits of the Voyage AI acquisition. 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; global political changes; 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; social, ethical and security issues relating to the use of new and evolving technologies, such as artificial intelligence, in our offerings or partnerships; 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, including the acquisition of Voyage AI; the risk of any unexpected costs or expenses resulting from the acquisition of Voyage AI; the risk of any litigation relating to such acquisition; the risk that such acquisition and the announcement of it could have an adverse effect on our operating results and business generally; 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 October 31, 2024, filed with the SEC on December 10, 2024. Additional information will be made available in our Annual Report on Form 10-K for the year ended January 31, 2025, 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 payments 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 payments 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 with software and data. MongoDB's unified, intelligent data platform was built to power the next generation of applications, and MongoDB is the most widely available, globally distributed database on the market. With integrated capabilities for operational data, search, real-time analytics, and AI-powered retrieval, MongoDB helps organizations everywhere move faster, innovate more efficiently, and simplify complex architectures. Millions of developers and more than 50,000 customers across almost every industry--including 70% of the Fortune 100--rely on MongoDB for their most important applications. 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.
                                                                                                                        
                CONSOLIDATED BALANCE SHEETS
                                                                                                      
                (in thousands of U.S. dollars, except share and per share data)
                                                                                                                                
                (unaudited)




                                                                                                                                                                                   January 31, January 31,
                                                                                                                                                                                          2025         2024



              
                Assets



              Current assets:



              Cash and cash equivalents                                                                                                                                              $490,133     $802,959



              Short-term investments                                                                                                                                                1,846,444    1,212,448



              Accounts receivable, net of allowance for doubtful accounts of $8,888 and $8,054 as of                                                                                  393,099      325,610
    January 31, 2025 and 2024, respectively



              Deferred commissions                                                                                                                                                    112,632       92,512



              Prepaid expenses and other current assets                                                                                                                                81,214       50,107



              Total current assets                                                                                                                                                  2,923,522    2,483,636



              Property and equipment, net                                                                                                                                              46,377       53,042



              Operating lease right-of-use assets                                                                                                                                      34,607       37,365



              Goodwill                                                                                                                                                                 69,679       69,679



              Intangible assets, net                                                                                                                                                   24,597        3,957



              Deferred tax assets                                                                                                                                                      20,810        4,116



              Other assets                                                                                                                                                            310,701      217,847



              Total assets                                                                                                                                                         $3,430,293   $2,869,642



              
                Liabilities and Stockholders' Equity



              Current liabilities:



              Accounts payable                                                                                                                                                        $10,467       $9,905



              Accrued compensation and benefits                                                                                                                                       120,354      112,579



              Operating lease liabilities                                                                                                                                               9,126        9,797



              Other accrued liabilities                                                                                                                                                87,659       74,831



              Deferred revenue                                                                                                                                                        334,381      357,108



              Total current liabilities                                                                                                                                               561,987      564,220



              Deferred tax liability                                                                                                                                                      262          285



              Operating lease liabilities                                                                                                                                              27,374       30,918



              Deferred revenue                                                                                                                                                         25,404       20,296



              Convertible senior notes, net                                                                                                                                                 -   1,143,273



              Other liabilities                                                                                                                                                        33,042       41,661



              Total liabilities                                                                                                                                                       648,069    1,800,653



              Stockholders' equity:



              Common stock, par value of $0.001 per share; 1,000,000,000 shares authorized as of                                                                                           78           73
      January 31, 2025 and 2024; 80,558,847 shares issued and 80,467,811 shares outstanding
      as of January 31, 2025 and 72,840,692 shares issued and 72,741,321 shares outstanding as of January 31, 2024



              Additional paid-in capital                                                                                                                                            4,625,093    2,777,322



              Treasury stock, 99,371 shares (repurchased at an average of $13.27 per share) as of                                                                                     (1,319)     (1,319)
      January 31, 2025 and 2024



              Accumulated other comprehensive income (loss)                                                                                                                             (924)       4,545



              Accumulated deficit                                                                                                                                                 (1,840,704) (1,711,632)



              Total stockholders' equity                                                                                                                                            2,782,224    1,068,989



              Total liabilities and stockholders' equity                                                                                                                           $3,430,293   $2,869,642


                                                                                
              
                MONGODB, INC.
                                                                         
                CONSOLIDATED STATEMENTS OF OPERATIONS
                                                            
                (in thousands of U.S. dollars, except share and per share data)
                                                                                      
                (unaudited)




                                                                                                                                                    Three Months Ended January 31,                     Years Ended January 31,


                                                                                                                                               2025           2024                   2025         2024



     Revenue:



     Subscription                                                                                                                         $530,958       $444,939             $1,943,864   $1,627,326



     Services                                                                                                                               17,440         13,063                 62,579       55,685



     Total revenue                                                                                                                         548,398        458,002              2,006,443    1,683,011



     Cost of revenue:



     Subscription(1)                                                                                                                       122,676         94,284                441,404      345,233



     Services(1)                                                                                                                            26,339         20,357                 93,892       79,252



     Total cost of revenue                                                                                                                 149,015        114,641                535,296      424,485



     Gross profit                                                                                                                          399,383        343,361              1,471,147    1,258,526



     Operating expenses:



     Sales and marketing(1)                                                                                                                212,211        211,116                871,148      782,760



     Research and development(1)                                                                                                           150,400        145,553                596,837      515,940



     General and administrative(1)                                                                                                          55,334         57,658                219,226      193,558



     Total operating expenses                                                                                                              417,945        414,327              1,687,211    1,492,258



     Loss from operations                                                                                                                 (18,562)      (70,966)             (216,064)   (233,732)



     Other income, net                                                                                                                      22,716         18,880                 84,465       70,216



     Loss before provision for (benefit from) income taxes                                                                                   4,154       (52,086)             (131,599)   (163,516)



     Provision for (benefit from) income taxes                                                                                            (11,672)         3,374                (2,527)      13,084



     Net income (loss)                                                                                                                     $15,826      $(55,460)            $(129,072)  $(176,600)



     Net income (loss) per share:



     Basic                                                                                                                                   $0.20        $(0.77)               $(1.73)     $(2.48)



     Diluted                                                                                                                                 $0.19        $(0.77)               $(1.73)     $(2.48)



     Weighted-average shares used to compute net income (loss) per share:



     Basic                                                                                                                              77,631,824     72,349,350             74,555,001   71,248,982



     Diluted                                                                                                                            84,594,079     72,349,350             74,555,001   71,248,982





     
                (1) Includes stock?based compensation expense as follows:




                                                                                                                                                    Three Months Ended January 31,                     Years Ended January 31,


                                                                                                                                               2025           2024                   2025         2024



     Cost of revenue-subscription                                                                                                           $7,982         $6,070                $29,548      $23,677



     Cost of revenue-services                                                                                                                3,766          3,243                 13,917       12,733



     Sales and marketing                                                                                                                    40,124         41,340                161,317      159,907



     Research and development                                                                                                               58,156         55,689                226,367      198,927



     General and administrative                                                                                                             15,014         17,469                 62,791       61,663



     Total stock?based compensation expense                                                                                               $125,042       $123,811               $493,940     $456,907


                                                                                   
              
                MONGODB, INC.
                                                                        
               CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                                                                 
               (in thousands of U.S. dollars)
                                                                                         
                (unaudited)




                                                                                                                                              Three Months Ended January
                                                                                                                                                 31,                          Years Ended January 31,


                                                                                                                                         2025       2024                 2025           2024



              
                Cash flows from operating activities



              Net income (loss)                                                                                                      $15,826  $(55,460)          $(129,072)    $(176,600)



              Adjustments to reconcile net income (loss) to net cash provided by
    operating activities:



              Depreciation and amortization                                                                                            2,171      5,682               11,751         18,939



              Stock-based compensation                                                                                               125,042    123,811              493,940        456,907



              Amortization of debt discount and issuance costs                                                                             -       850                2,419          3,393



              Amortization of finance right-of-use assets                                                                                993        994                3,974          3,975



              Amortization of operating right-of-use assets                                                                            2,948      2,430               11,248          9,211



              Deferred income taxes                                                                                                 (15,995)   (1,002)            (16,794)       (1,574)



              Amortization of premium and accretion of discount on short-                                                            (5,942)   (8,151)            (25,059)      (44,556)
    term investments, net



              Realized and unrealized loss (gain) on financial                                                                           253        250                (937)       (1,044)
    instruments, net



              Unrealized foreign exchange loss (gain)                                                                                (2,956)     2,124                (964)         1,802



              Change in operating assets and liabilities:



              Accounts receivable, net                                                                                              (57,978)  (53,400)            (69,236)      (41,639)



              Prepaid expenses and other current assets                                                                             (24,231)  (12,908)            (24,813)      (12,208)



              Deferred commissions                                                                                                  (30,333)  (24,670)            (69,127)      (41,830)



              Other long-term assets                                                                                                (12,973)         4             (30,677)         (211)



              Accounts payable                                                                                                       (1,028)       601                  541          1,679



              Accrued liabilities                                                                                                      2,760     19,188               25,254         39,502



              Operating lease liabilities                                                                                            (2,931)   (2,889)            (12,076)       (9,878)



              Deferred revenue                                                                                                        54,990     56,313             (16,362)      (82,411)



              Other liabilities, non-current                                                                                            (78)       860              (3,819)       (1,980)



              Net cash provided by operating activities                                                                               50,538     54,627              150,191        121,477



              
                Cash flows from investing activities



              Purchases of property, equipment and other assets                                                                     (25,979)   (2,738)            (29,550)       (6,074)



              Investments in non-marketable securities                                                                               (5,500)                      (11,250)       (2,056)



              Business combinations, net of cash acquired                                                                                  -                                    (15,000)



              Proceeds from the sales of marketable securities                                                                        44,984                         44,984



              Proceeds from maturities of marketable securities                                                                      182,600    255,000              752,600      1,445,000



              Purchases of marketable securities                                                                                   (442,421)                   (1,414,224)   (1,233,851)



              Net cash provided by (used in) investing activities                                                                  (246,316)   252,262            (657,440)       188,019



              
                Cash flows from financing activities



              Proceeds from settlement of capped calls and other                                                                       (366)                       170,223



              Proceeds from exercise of stock options, including early                                                              (16,672)     1,998                1,968          6,810
      exercised stock options



              Proceeds from the issuance of common stock under the                                                                    34,427     17,133               36,048         36,914
      Employee Stock Purchase Plan



              Principal payments of finance leases                                                                                   (1,645)   (1,400)             (6,179)       (5,483)



              Net cash provided by financing activities                                                                               15,744     17,731              202,060         38,241



              Effect of exchange rate changes on cash, cash equivalents                                                              (2,876)       665              (5,701)         (433)
    and restricted cash



              Net increase (decrease) in cash, cash equivalents and                                                                (182,910)   325,285            (310,890)       347,304
    restricted cash



              Cash, cash equivalents and restricted cash, beginning of                                                               675,663    478,358              803,643        456,339
    period



              Cash, cash equivalents and restricted cash, end of period                                                             $492,753   $803,643             $492,753       $803,643


                                                                              
              
                MONGODB, INC.
                                                                
                RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
                                                           
                (in thousands of U.S. dollars, except share and per share data)
                                                                                     
                (unaudited)




                                                                                                                                                  Three Months Ended January
                                                                                                                                                     31,                           Years Ended January 31,


                                                                                                                                             2025        2024                 2025          2024



              
                Reconciliation of GAAP gross profit to non-GAAP gross
    profit:



              Gross profit on a GAAP basis                                                                                              $399,383    $343,361           $1,471,147    $1,258,526



              
                 Gross margin (Gross profit/Total revenue) on a GAAP basis                                                       73 %       75 %                73 %         75 %



              Add back:



               Expenses associated with stock-based compensation: Cost                                                                     8,220       6,572               30,365        24,824
     of Revenue-Subscription



               Expenses associated with stock-based compensation: Cost                                                                     4,114       3,694               14,507        14,429
     of Revenue-Services



              Non-GAAP gross profit                                                                                                     $411,717    $353,627           $1,516,019    $1,297,779



              
                 Non-GAAP gross margin (Non-GAAP gross profit/Total                                                              75 %       77 %                76 %         77 %
     revenue)





              
                Reconciliation of GAAP operating expenses to non-GAAP
    operating expenses:



              Sales and marketing operating expense on a GAAP basis                                                                     $212,211    $211,116             $871,148      $782,760



              Less:



               Expenses associated with stock-based compensation                                                                          41,725      45,713              166,854       176,351



               Amortization of intangible assets                                                                                               -         85                   85         2,365



              Non-GAAP sales and marketing operating expense                                                                            $170,486    $165,318             $704,209      $604,044





              Research and development operating expense on a GAAP                                                                      $150,400    $145,553             $596,837      $515,940
    basis



              Less:



               Expenses associated with stock-based compensation                                                                          61,091      60,373              234,257       209,052



               Amortization of intangible assets                                                                                             170       3,085                3,078         8,207



              Non-GAAP research and development operating expense                                                                        $89,139     $82,095             $359,502      $298,681





              General and administrative operating expense on a GAAP                                                                     $55,334     $57,658             $219,226      $193,558
    basis



              Less:



               Expenses associated with stock-based compensation                                                                          15,725      20,603               66,194        68,932



              Non-GAAP general and administrative operating expense                                                                      $39,609     $37,055             $153,032      $124,626





              
                Reconciliation of GAAP loss from operations to non-GAAP
    income from operations:



              Loss from operations on a GAAP basis                                                                                     $(18,562)  $(70,966)          $(216,064)   $(233,732)



              
                 GAAP operating margin (Loss from operations/Total                                                              (3) %     (15) %              (11) %       (14) %
     revenue)



              Add back:



               Expenses associated with stock-based compensation                                                                         130,874     136,955              512,177       493,588



               Amortization of intangible assets                                                                                             170       3,170                3,163        10,572



              Non-GAAP income from operations                                                                                           $112,482     $69,159             $299,276      $270,428



              
                 Non-GAAP operating margin (Non-GAAP Income from                                                                 21 %       15 %                15 %         16 %
     operations/Total revenue)





              
                Reconciliation of GAAP net income (loss) to non-GAAP net
    income:



              Net income (loss) on a GAAP basis                                                                                          $15,826   $(55,460)          $(129,072)   $(176,600)



              Add back:



               Expenses associated with stock-based compensation                                                                         130,874     136,955              512,177       493,588



               Amortization of intangible assets                                                                                             170       3,170                3,163        10,572



               Amortization of debt issuance costs related to convertible                                                                      -        850                2,419         3,393
     senior notes



              Less:



               Gains (loss) on financial instruments, net                                                                                  (253)                            937         1,294



               Income tax effects and adjustments *                                                                                       38,762      14,404               79,572        55,465



              Non-GAAP net income                                                                                                       $108,361     $71,111             $308,178      $274,194





              
                Reconciliation of GAAP net income (loss) per share,
    diluted, to non-GAAP net income per share, fully diluted:



              Net income (loss) per share, diluted, on a GAAP basis                                                                        $0.19     $(0.77)             $(1.73)      $(2.48)



              Add back:



               Expenses associated with stock-based compensation                                                                            1.55        1.89                 6.87          6.93



               Amortization of intangible assets                                                                                               -       0.04                 0.04          0.15



               Amortization of debt issuance costs related to convertible                                                                      -       0.01                 0.03          0.05
     senior notes



              Less:



               Gains (loss) on financial instruments, net                                                                                      -                           0.01          0.02



               Income tax effects and adjustments *                                                                                         0.46        0.20                 1.07          0.78



              Non-GAAP net income per share, diluted                                                                                       $1.28       $0.97                $4.13         $3.85



              Adjustment for fully diluted earnings per share                                                                                  -     (0.11)              (0.47)       (0.52)



              Non-GAAP net income per share, fully diluted **                                                                              $1.28       $0.86                $3.66         $3.33



     * 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.


     ** Fully diluted non-GAAP net income per share is calculated based upon 84.6 million and 84.1 million of fully diluted weighted-average shares of outstanding common stock for the three and twelve months ended January 31, 2025, respectively, and 82.9 million and 82.4 million of fully diluted weighted-average shares of outstanding
      common stock for the three and twelve months ended January 31, 2024, respectively.



              The following table presents a reconciliation of free cash flow to net cash provided by operating activities, the most
    directly comparable GAAP measure, for each of the periods indicated (unaudited, in thousands):




                                                                                                                            Three Months Ended January
                                                                                                                               31,                           Years Ended January 31,


                                                                                                              2025                 2024                 2025           2024



              Net cash provided by operating activities                                                   $50,538              $54,627             $150,191       $121,477



              Capital expenditures                                                                       (25,979)             (2,738)            (29,550)       (6,074)



              Principal payments of finance leases                                                        (1,645)             (1,400)             (6,179)       (5,483)



              Capitalized software                                                                              -



              Free cash flow                                                                              $22,914              $50,489             $114,462       $109,920


                                                                                                              
        
                MONGODB, INC.
                                                                                                               
          CUSTOMER COUNT METRICS





     The following table presents certain customer count information as of the periods indicated:




                                                                               1/31/2023           4/30/2023     7/31/2023                    10/31/2023    1/31/2024     4/30/2024      7/31/2024       10/31/2024       1/31/2025



     Total Customers (a)                                                        40,800+             43,100+       45,000+                       46,400+      47,800+       49,200+        50,700+          52,600+         54,500+



     Direct Sales Customers(b)                                                   6,400+              6,700+        6,800+                        6,900+       7,000+        7,100+         7,300+           7,400+          7,500+



     MongoDB Atlas Customers                                                    39,300+             41,600+       43,500+                       44,900+      46,300+       47,700+        49,200+          51,100+         53,100+



     Customers over $100K(c)                                                      1,651                1,761          1,855                          1,972         2,052          2,137           2,189            2,314           2,396


     (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:




                                                                                   1/31/2023                   4/30/2023     7/31/2023                           10/31/2023 1/31/2024 4/30/2024 7/31/2024 10/31/2024 1/31/2025



           MongoDB Enterprise                                                          28 %                        28 %          26 %                                 27 %      26 %      25 %      24 %       25 %      23 %
      Advanced: % of
      Subscription
      Revenue



           Direct Sales Customers(a)                                                   88 %                        88 %          88 %                                 88 %      88 %      87 %      87 %       88 %      88 %


            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-fourth-quarter-and-full-year-fiscal-2025-financial-results-302393702.html

SOURCE MongoDB, Inc.