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Jul 31, 2022
MongoDB Q2 2023 Earnings Report
MongoDB's Q2 2023 financial results were announced, demonstrating strong growth in revenue and customer base.
Key Takeaways
MongoDB reported a strong second quarter with a 53% year-over-year increase in total revenue, reaching $303.7 million. MongoDB Atlas revenue grew by 73% year-over-year and now accounts for 64% of total revenue. The company also saw continued customer growth, with over 37,000 customers as of July 31, 2022.
Total revenue reached $303.7 million, a 53% increase year-over-year.
MongoDB Atlas revenue grew 73% year-over-year, representing 64% of total Q2 revenue.
The company has over 37,000 customers as of July 31, 2022.
A record number of net additions of direct sales customers was achieved.
MongoDB
MongoDB
MongoDB Revenue by Segment
Revenue by Segment
Services Revenue
CapyFin.com Forward Guidance
MongoDB is issuing the following financial guidance for the third quarter and full year fiscal 2023. For the third quarter, revenue is expected to be between $300.0 million and $303.0 million, with a non-GAAP loss from operations between ($10.0) million and ($8.0) million, and a non-GAAP net loss per share between ($0.19) and ($0.16). For the full year, revenue is expected to be between $1,196.0 million and $1,206.0 million, with a non-GAAP loss from operations between ($13.0) million and ($8.0) million, and a non-GAAP net loss per share between ($0.35) and ($0.28).
Positive Outlook
- Revenue for Q3 is projected to be between $300.0 million and $303.0 million.
- Full year revenue is projected to be between $1,196.0 million and $1,206.0 million.
- Continued product integration and alignment with hyperscale cloud vendors.
- MongoDB for Startups, now an exclusive offer in AWS Activate.
- MongoDB won the Google Cloud Technology Partner of the Year for Data Management.
Challenges Ahead
- Non-GAAP loss from operations for Q3 is projected to be between ($10.0) million and ($8.0) million.
- Non-GAAP net loss per share for Q3 is projected to be between ($0.19) and ($0.16).
- Non-GAAP loss from operations for the full year is projected to be between ($13.0) million and ($8.0) million.
- Non-GAAP net loss per share for the full year is projected to be between ($0.35) and ($0.28).
- 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.