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Oct 31, 2020
MongoDB Q3 2021 Earnings Report
MongoDB's financial performance in Q3 2021 demonstrated strong growth, exceeding expectations with significant revenue increase and customer acquisition.
Key Takeaways
MongoDB announced strong third quarter fiscal 2021 results, with total revenue of $150.8 million, up 38% year-over-year. The company continued to grow its customer base, reaching over 22,600 customers. MongoDB Atlas revenue accounted for 47% of the total revenue, growing 61% year-over-year.
Total revenue reached $150.8 million, a 38% increase year-over-year.
Subscription revenue was $144.1 million, up 39% year-over-year.
MongoDB Atlas revenue represented 47% of total Q3 revenue, with a 61% year-over-year increase.
The company had over 22,600 customers as of October 31, 2020.
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MongoDB Revenue by Segment
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Services Revenue
CapyFin.com Forward Guidance
MongoDB is issuing the following financial guidance for the fourth quarter and full year fiscal 2021.
Positive Outlook
- Revenue for Q4 is expected to be $155.0 million to $157.0 million.
- Revenue for full year 2021 is expected to be $574.4 million to $576.4 million.
- Non-GAAP loss from operations for Q4 is expected to be $(23.0) million to $(21.0) million.
- Non-GAAP loss from operations for full year 2021 is expected to be $(56.6) million to $(54.6) million.
- Non-GAAP net loss per share for Q4 is expected to be $(0.42) to $(0.39).
Challenges Ahead
- Non-GAAP net loss per share for full year 2021 is expected to be $(1.07) to $(1.04).
- Fluctuations in MongoDB’s operating results may be particularly pronounced in the current economic environment due to the uncertainty caused by the ongoing COVID-19 pandemic.
- The situation regarding COVID-19 remains uncertain and could change rapidly.
- Reconciliation of non-GAAP loss from operations and non-GAAP net loss per share guidance to the most directly comparable GAAP measures is not available without unreasonable efforts on a forward-looking basis due to the high variability.
- The variability of the above charges is expected to have a significant, and potentially unpredictable, impact on MongoDB's future GAAP financial results.