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Apr 30, 2022
MongoDB Q1 2023 Earnings Report
MongoDB's first quarter results for fiscal year 2023 were announced, featuring revenue growth and strong customer acquisition.
Key Takeaways
MongoDB reported a strong first quarter for fiscal year 2023, with total revenue of $285.4 million, a 57% increase year-over-year. The growth was primarily driven by an 82% increase in MongoDB Atlas revenue, which now accounts for 60% of total revenue. MongoDB ended the quarter with over 35,200 customers.
Total revenue reached $285.4 million, representing a 57% year-over-year increase.
MongoDB Atlas revenue grew by 82% year-over-year and accounted for 60% of total revenue.
The company has over 35,200 customers as of April 30, 2022.
Non-GAAP income from operations was $17.5 million, compared to a non-GAAP loss of $2.8 million in the year-ago period.
MongoDB
MongoDB
MongoDB Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.com Forward Guidance
MongoDB is issuing financial guidance for the second quarter and full year fiscal 2023. This guidance includes an estimated negative revenue impact of $4-5 million in the second quarter and $30-35 million for the full year fiscal 2023 due to the current global macroeconomic environment.
Positive Outlook
- Second Quarter Fiscal 2023 Revenue: $279.0 million to $282.0 million
- Full Year Fiscal 2023 Revenue: $1,172.0 million to $1,192.0 million
- Second Quarter Fiscal 2023 Non-GAAP Income (Loss) from Operations: ($18.0) million to ($16.0) million
- Full Year Fiscal 2023 Non-GAAP Income (Loss) from Operations: ($9.0) million to $1.0 million
- Second Quarter Fiscal 2023 Non-GAAP Net Loss per Share: ($0.31) to ($0.28)
Challenges Ahead
- Full Year Fiscal 2023 Non-GAAP Net Loss per Share: ($0.31) to ($0.16)
- The guidance includes our estimate of $4-5 million negative revenue impact in the second quarter from the current global macroeconomic environment
- The guidance includes our estimate of $30-35 million negative revenue impact for the full year fiscal 2023 from the current global macroeconomic environment
- Fluctuations in MongoDB’s operating results may be particularly pronounced in the current economic environment due to the current volatility in the global economy and the continuing uncertainty caused by the ongoing COVID-19 pandemic.
- Reconciliation of non-GAAP income (loss) from operations and non-GAAP net income (loss) per share guidance to the most directly comparable GAAP measures is not available without unreasonable efforts on a forward-looking basis