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Apr 30, 2020
MongoDB Q1 2021 Earnings Report
MongoDB's Q1 2021 financial results were announced, demonstrating strong growth and customer acquisition.
Key Takeaways
MongoDB reported a strong first quarter with a 46% year-over-year increase in total revenue, reaching $130.3 million. The company continued to expand its customer base, exceeding 18,400 customers. MongoDB Atlas revenue contributed significantly, representing 42% of the total revenue with a growth rate of over 75% year-over-year.
Total revenue reached $130.3 million, a 46% increase year-over-year.
Subscription revenue was $124.9 million, up 49% year-over-year.
MongoDB Atlas revenue accounted for 42% of total revenue, growing over 75% year-over-year.
The company had over 18,400 customers as of April 30, 2020.
Revenue by Segment
Forward Guidance
MongoDB provided financial guidance for the second quarter and full year of fiscal 2021, reflecting the anticipated negative impact from the COVID-19 pandemic. Revenue for the second quarter is projected to be between $125.0 million and $127.0 million, and for the full year, revenue is expected to be between $520.0 million and $530.0 million.
Positive Outlook
- Second quarter revenue is projected to be between $125.0 million and $127.0 million.
- Full year revenue is expected to be between $520.0 million and $530.0 million.
- The company is seeing clear signs that the current environment is reinforcing the long-term trends towards digital transformation and cloud migration.
- MongoDB is a clear beneficiary of these trends.
- The company will continue making investments to fully capitalize on this market opportunity.
Challenges Ahead
- Non-GAAP loss from operations for the second quarter is expected to be between $(24.0) million and $(22.0) million.
- Non-GAAP loss from operations for the full year is expected to be between $(78.0) million and $(70.0) million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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