MongoDB Q3 2024 Earnings Report
Key Takeaways
MongoDB reported a robust third quarter in fiscal year 2024, with a 30% year-over-year increase in total revenue, reaching $432.9 million. The company demonstrated strong customer growth, exceeding 46,400 customers. MongoDB Atlas revenue also saw significant growth, increasing by 36% year-over-year and representing 66% of the total Q3 revenue.
Total revenue increased by 30% year-over-year, reaching $432.9 million.
Customer base expanded to over 46,400 customers.
MongoDB Atlas revenue grew by 36% year-over-year, accounting for 66% of total revenue.
MongoDB Atlas Vector Search was released to simplify building real-time generative AI applications.
MongoDB
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MongoDB Revenue by Segment
Forward Guidance
MongoDB provided financial guidance for the fourth quarter and full year fiscal 2024.
Positive Outlook
- Revenue is expected to be between $429.0 million and $433.0 million for the fourth quarter.
- Full year revenue is projected to be between $1.654 billion and $1.658 billion.
- Non-GAAP income from operations is forecasted to be between $35.0 million and $38.0 million for the fourth quarter.
- Full year non-GAAP income from operations is expected to be between $236.3 million and $239.3 million.
- Non-GAAP net income per share is anticipated to be between $0.44 and $0.46 for the fourth quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income