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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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