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Oct 31, 2022
MongoDB Q3 2023 Earnings Report
MongoDB's Q3 2023 results were released, showing strong revenue growth and customer acquisition.
Key Takeaways
MongoDB announced strong third quarter results with a 47% year-over-year increase in total revenue, reaching $333.6 million. MongoDB Atlas revenue grew by 61% year-over-year and represented 63% of total Q3 revenue. The company continued to experience strong customer growth, with over 39,100 customers as of October 31, 2022.
Total revenue for Q3 2023 reached $333.6 million, a 47% increase year-over-year.
MongoDB Atlas revenue grew by 61% year-over-year, accounting for 63% of total Q3 revenue.
The company has over 39,100 customers as of October 31, 2022.
Non-GAAP income from operations was $19.8 million, compared to $6.3 million in the year-ago period.
Revenue by Segment
Forward Guidance
MongoDB is issuing financial guidance for the fourth quarter and full year fiscal 2023.
Positive Outlook
- Revenue is expected to be between $334 million and $337 million for the fourth quarter of fiscal 2023.
- Full year fiscal 2023 revenue is projected to be between $1.257 billion and $1.260 billion.
- Non-GAAP income from operations is expected to be between $6 million and $8 million for Q4 2023.
- Full year non-GAAP income from operations is projected to be between $30.8 million and $32.8 million.
- Non-GAAP net income per share is expected to be between $0.06 and $0.08 for the fourth quarter of fiscal 2023.
Challenges Ahead
- Fluctuations in MongoDB’s operating results may be particularly pronounced due to adverse macroeconomic conditions.
- Continuing uncertainty caused by the COVID-19 pandemic may impact MongoDB's operating results.
- 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.
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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