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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.
MongoDB
MongoDB
MongoDB Revenue by Segment
Revenue by Segment
Subscription Revenue
CapyFin.comServices Revenue
CapyFin.com 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