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Jul 31, 2023
MongoDB Q2 2024 Earnings Report
MongoDB's financial performance was strong in Q2 2024, marked by substantial revenue growth and customer acquisition.
Key Takeaways
MongoDB announced strong Q2 Fiscal Year 2024 results with a 40% increase in total revenue year-over-year, reaching $423.8 million. The company also saw continued customer growth, exceeding 45,000 customers. MongoDB Atlas revenue grew by 38% year-over-year and contributed 63% of the total Q2 revenue.
Total revenue reached $423.8 million, a 40% increase year-over-year.
MongoDB Atlas revenue increased by 38% year-over-year, representing 63% of total Q2 revenue.
The company has over 45,000 customers as of July 31, 2023.
Loss from operations improved to $49.0 million, compared to a loss of $114.8 million in the previous year.
Revenue by Segment
Forward Guidance
MongoDB is issuing the following financial guidance for the third quarter and full year fiscal 2024. For the third quarter of fiscal year 2024, MongoDB expects revenue between $400.0 million and $404.0 million, and non-GAAP income from operations between $41.0 million and $44.0 million, resulting in non-GAAP net income per share of $0.47 to $0.50. For the full year fiscal 2024, MongoDB expects revenue between $1.596 billion and $1.608 billion and non-GAAP income from operations between $189.0 million and $197.0 million, resulting in non-GAAP net income per share of $2.27 to $2.35.
Positive Outlook
- Revenue is expected to be between $400.0 million and $404.0 million.
- Non-GAAP income from operations is projected to be between $41.0 million and $44.0 million.
- Non-GAAP net income per share is anticipated to be $0.47 to $0.50.
- Full year revenue is projected to be between $1.596 billion and $1.608 billion.
- Full year non-GAAP income from operations is expected to be between $189.0 million and $197.0 million.
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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