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MongoDB
🇺🇸 NASDAQ:MDB
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•
Apr 30, 2024

MongoDB Q1 2025 Earnings Report

MongoDB delivered solid results, with Atlas revenue growth of 32%. However, the company had a slower than expected start to the year for both Atlas consumption growth and new workload wins.

Key Takeaways

MongoDB's Q1 2025 total revenue reached $450.6 million, a 22% increase year-over-year. MongoDB Atlas revenue grew by 32% year-over-year and accounted for 70% of the total revenue. The company had over 49,200 customers as of April 30, 2024.

Total revenue was $450.6 million, up 22% year-over-year.

Subscription revenue was $436.9 million, up 23% year-over-year.

MongoDB Atlas revenue increased by 32% year-over-year and represented 70% of total Q1 revenue.

The company had over 49,200 customers as of April 30, 2024.

Total Revenue
$451M
Previous year: $368M
+22.3%
EPS
$0.51
Previous year: $0.56
-8.9%
MongoDB Atlas Customers
47.7K
Previous year: 41.6K
+14.7%
Total Customers
49.2K
Previous year: 43.1K
+14.2%
Customers > 100k ARR
2.14K
Previous year: 1.76K
+21.4%
Gross Profit
$328M
Previous year: $271M
+21.1%
Cash and Equivalents
$816M
Previous year: $722M
+13.0%
Free Cash Flow
$61M
Previous year: $51.8M
+17.7%
Total Assets
$3.03B
Previous year: $2.58B
+17.6%

MongoDB

MongoDB

MongoDB Revenue by Segment

Forward Guidance

MongoDB is issuing financial guidance for the second quarter and full year fiscal 2025. Revenue is expected to be between $460.0 million and $464.0 million for Q2 2025 and between $1.88 billion and $1.90 billion for the full year fiscal 2025. Non-GAAP income from operations is expected to be between $35.0 million and $38.0 million for Q2 2025 and between $168.0 million to $183.0 million for the full year fiscal 2025. Non-GAAP net income per share is expected to be between $0.46 and $0.49 for Q2 2025 and between $2.15 and $2.30 for the full year fiscal 2025.

Positive Outlook

  • Revenue for Q2 2025 is projected to be between $460.0 million and $464.0 million.
  • Full year fiscal 2025 revenue is projected to be between $1.88 billion and $1.90 billion.
  • Non-GAAP income from operations for Q2 2025 is projected to be between $35.0 million and $38.0 million.
  • Full year fiscal 2025 non-GAAP income from operations is projected to be between $168.0 million and $183.0 million.
  • Non-GAAP net income per share for Q2 2025 is projected to be between $0.46 and $0.49.

Challenges Ahead

  • 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.
  • Variability of stock-based compensation expense may have a significant, and potentially unpredictable, impact on future GAAP financial results.
  • The guidance is based on information available to management as of May 30, 2024.
  • The guidance is subject to various assumptions, uncertainties, risks and factors that are beyond the company's control.
  • The company undertakes no duty or obligation to update any forward-looking statements as a result of new information, future events, or changes in expectations.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

View MongoDB