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MongoDB
🇺🇸 NASDAQ:MDB
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Jan 31, 2024

MongoDB Q4 2024 Earnings Report

MongoDB's financial results for Q4 2024 and the fiscal year were announced, revealing a 27% year-over-year increase in total revenue for the quarter and strong growth in MongoDB Atlas revenue.

Key Takeaways

MongoDB reported a strong finish to fiscal year 2024, with Q4 total revenue reaching $458.0 million, up 27% year-over-year. MongoDB Atlas revenue grew by 34% year-over-year and represented 68% of total Q4 revenue. The company's customer base continued to expand, exceeding 47,800 customers.

Total revenue for Q4 2024 was $458.0 million, a 27% increase year-over-year.

MongoDB Atlas revenue increased by 34% year-over-year and accounted for 68% of total Q4 revenue.

The company had over 47,800 customers as of January 31, 2024.

Non-GAAP income from operations was $69.2 million, compared to $37.2 million in the year-ago period.

Total Revenue
$458M
Previous year: $361M
+26.8%
EPS
$0.86
Previous year: $0.57
+50.9%
MongoDB Atlas Customers
46.3K
Previous year: 39.3K
+17.8%
Total Customers
47.8K
Previous year: 40.8K
+17.2%
Customers > 100k ARR
2.05K
Previous year: 1.65K
+24.3%
Gross Profit
$343M
Previous year: $272M
+26.1%
Cash and Equivalents
$803M
Previous year: $456M
+76.2%
Free Cash Flow
$50.5M
Previous year: $23.8M
+112.1%
Total Assets
$2.87B
Previous year: $2.59B
+10.8%

MongoDB

MongoDB

MongoDB Revenue by Segment

Forward Guidance

MongoDB provided financial guidance for the first quarter and full year fiscal 2025, reflecting the impact of over $80 million of FY24 revenue, related to multi-year term licenses and unused Atlas commitments, that the company does not expect to realize in FY25.

Positive Outlook

  • Revenue for Q1 2025 is expected to be between $436.0 million and $440.0 million.
  • Revenue for FY 2025 is projected to be between $1.90 billion and $1.93 billion.
  • Non-GAAP income from operations for Q1 2025 is expected to be between $22.0 million and $25.0 million.
  • Non-GAAP income from operations for FY 2025 is projected to be between $186.0 million and $201.0 million.
  • Non-GAAP net income per share for FY 2025 is expected to be between $2.27 and $2.49.

Challenges Ahead

  • Guidance reflects the impact of over $80 million of FY24 revenue, related to multi-year term licenses and unused Atlas commitments, that MongoDB does not expect to realize in FY25.
  • 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.
  • Variability of charges, particularly stock-based compensation expense, may have a significant and unpredictable impact on future GAAP financial results.
  • MongoDB's stock price may experience unpredictable fluctuations.
  • The company's future GAAP financial results may be significantly impacted by the variability of the above charges.

Revenue & Expenses

Visualization of income flow from segment revenue to net income

Company Overview

Full financial data and analysis

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