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MongoDB
🇺🇸 NASDAQ:MDB
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Jan 31, 2023

MongoDB Q4 2023 Earnings Report

MongoDB's Q4 2023 financial results were announced, revealing a 36% year-over-year increase in total revenue, reaching $361.3 million. The company demonstrated continued customer growth, exceeding 40,800 customers, and MongoDB Atlas revenue saw a 50% year-over-year increase, contributing 65% of the total Q4 revenue.

Key Takeaways

MongoDB reported a strong Q4 2023 with total revenue of $361.3 million, a 36% increase year-over-year. Atlas revenue grew by 50%, representing 65% of total revenue. The company's customer base exceeded 40,800. They provided FY24 revenue guidance of $1.480 billion to $1.510 billion.

Total revenue for Q4 2023 reached $361.3 million, up 36% year-over-year.

MongoDB Atlas revenue increased by 50% year-over-year and accounted for 65% of total Q4 revenue.

The company's customer base grew to over 40,800 by the end of January 31, 2023.

MongoDB signed a new 5-year strategic partnership agreement with Microsoft Azure.

Total Revenue
$361M
Previous year: $266M
+35.6%
EPS
$0.57
Previous year: -$0.09
-733.3%
MongoDB Atlas Customers
39.3K
Previous year: 31.5K
+24.8%
Total Customers
40.8K
Previous year: 33K
+23.6%
Customers > 100k ARR
1.65K
Previous year: 1.31K
+26.3%
Gross Profit
$272M
Previous year: $191M
+42.7%
Cash and Equivalents
$456M
Previous year: $474M
-3.8%
Free Cash Flow
$23.8M
Previous year: $16.8M
+41.7%
Total Assets
$2.59B
Previous year: $2.45B
+5.7%

MongoDB

MongoDB

MongoDB Revenue by Segment

Forward Guidance

MongoDB provided financial guidance for the first quarter and full year fiscal 2024. They anticipate revenue between $344.0 million and $348.0 million for Q1 2024, and between $1.480 billion and $1.510 billion for the full year. Non-GAAP income from operations is expected to be between $10.0 million and $13.0 million for Q1, and between $69.0 million and $84.0 million for the full year. Non-GAAP net income per share is projected to be between $0.17 and $0.20 for Q1, and between $0.96 and $1.10 for the full year.

Positive Outlook

  • Revenue guidance provided for Q1 2024: $344.0 million to $348.0 million
  • Revenue guidance provided for FY 2024: $1.480 billion to $1.510 billion
  • Non-GAAP income from operations guidance for Q1 2024: $10.0 million to $13.0 million
  • Non-GAAP income from operations guidance for FY 2024: $69.0 million to $84.0 million
  • Non-GAAP net income per share guidance for FY 2024: $0.96 to $1.10

Challenges Ahead

  • Reconciliation of non-GAAP income from operations and non-GAAP net income per share guidance to the most directly comparable GAAP measures is not available without unreasonable efforts on a forward-looking basis.
  • Variability of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in MongoDB’s stock price.
  • Variability of the above charges to have a significant, and potentially unpredictable, impact on its future GAAP financial results.
  • Guidance includes an additional non-GAAP tax provision.
  • The company expects the variability of charges to have unpredictable impact on future GAAP financial results

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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