01—Abstract
Summary
Summary of the 10-Q filed August 27, 2025. Cited figures are marked; the original filing is the authoritative source.
MongoDB, Inc. reported its 10-Q for the quarter ended July 31, 2025.
Total revenue for the three months ended July 31, 2025 was $591.4 milliona, up 24% from $478.1 million a year earlier, with subscription revenue of $572.4 million (up 23%). MongoDB Atlas-related revenue was $439.0 million for the quarter, and the filing states that Atlas represented 74% of total revenue. Loss from operations narrowed to $65.3 million from $71.4 million, and net loss was $47.0 million, or $0.58 per share, compared with $54.5 million, or $0.74 per share, in the prior-year quarter.
Gross margin declined to 71% from 73%, with the filing attributing the decline to rising Atlas revenue as a share of total revenue and higher third-party cloud infrastructure costs. For the six months ended July 31, 2025, total revenue was $1.14 billionb, up 23%, and net cash provided by operating activities was $182.0 million, compared with $62.2 million a year earlier. Cash, cash equivalents, short-term investments and restricted cash totaled $2.3 billion as of July 31, 2025.
The company repurchased 929,674 shares for $200.0 millionc during the six months, and in June 2025 its Board increased the aggregate repurchase authorization to $1.0 billion. The company acquired Voyage AI in February 2025 for a purchase consideration of $160.9 million, which increased goodwill to $189.6 million. The filing also describes a putative securities class action (Baxter v.
MongoDB, Inc.) and a related shareholder derivative litigation. The company states it is unable to estimate any reasonably possible loss in the securities action, and a motion to dismiss remains pending.
Management reports that the macroeconomic environment negatively affected growth of existing Atlas applications during the six months ended July 31, 2025, and it expects macroeconomic headwinds on growth rates for existing Atlas applications in the short term. Net ARR expansion rate was approximately 119%d as of July 31, 2025.
02—Key points
Key Highlights
- Total revenue of $591.4 million for the three months ended July 31, 2025, up 24% from $478.1 million; subscription revenue of $572.4 million, up 23%.
- MongoDB Atlas represented 74% of total revenue for the three months ended July 31, 2025, versus 71% a year earlier; MongoDB Atlas-related revenue was $439.0 million.
- Net loss narrowed to $47.0 million ($0.58 per share) for the quarter from $54.5 million ($0.74 per share); loss from operations narrowed to $65.3 million from $71.4 million.
- Gross margin declined to 71% from 73%, which the company attributes to growth in Atlas revenue as a share of total revenue and higher third-party cloud infrastructure costs.
- Net cash provided by operating activities was $182.0 million for the six months ended July 31, 2025, up from $62.2 million; cash, cash equivalents, short-term investments and restricted cash totaled $2.3 billion.
- The company repurchased 929,674 shares for $200.0 million during the six months, and the Board raised the aggregate repurchase authorization to $1.0 billion in June 2025.
- Remaining performance obligations were $794.2 million as of July 31, 2025, with approximately 58% expected to be recognized over the next 12 months.
03—One dollar
Follow one dollar
For each $1.00 of revenue in Q2 FY2026, MongoDB lost $0.08.
- Revenue$591.4M100.0%
- Cost of revenue−$171.4M29.0%
- Gross profit$420.0M71.0%
- Operating costs−$485.3M82.1%
- Operating income−$65.3M11.0%
- Interest, other & tax$18.2M3.1%
- Net income−$47.0M8.0%
04—Financials
Financial Highlights
Figures from 10-QQ2 FY2026filed August 27, 2025Financial Statements
Q2 FY2026 against Q2 FY2025
| Line item | Q2 FY2026Q2 FY2025 | Change |
|---|---|---|
| Revenue | $591.40M$478.11M | +23.7% |
| Cost of Revenue | $171.43M$128.25M | +33.7% |
| Gross Profit | $419.97M$349.86M | +20.0% |
| R&D Expenses | $181.74M$148.97M | +22.0% |
| Operating Expenses | $485.27M$421.30M | +15.2% |
| Operating Income | -$65.29M-$71.44M | +8.6% |
| Interest Expense | $1.47M$2.28M | −35.5% |
| Net Income | -$47.05M-$54.53M | +13.7% |
| EPS (Basic) | $-0.58$-0.74 | +21.6% |
| EPS (Diluted) | $-0.58— | — |
| Shares Outstanding (Basic) | 81.08M73.54M | +10.2% |
| Shares Outstanding (Diluted) | 81.08M— | — |
05—Questions
Frequently Asked Questions
How did MongoDB's revenue and profitability trend in the quarter ended July 31, 2025?
Total revenue rose 24% to $591.4 million for the three months ended July 31, 2025. Net loss narrowed to $47.0 million, or $0.58 per share, from $54.5 million, or $0.74 per share, a year earlier. Loss from operations narrowed to $65.3 million from $71.4 million, while gross margin declined to 71% from 73%.
What is driving MongoDB's revenue growth?
The filing states that subscription revenue increased by $108.6 million in the quarter, primarily due to an increase of $92.4 million from Direct Sales Customers. MongoDB Atlas revenue grew to 74% of total revenue for the quarter, from 71% a year earlier. The company also reports 59,900 customers as of July 31, 2025, compared with over 50,700 a year earlier.
What risks does the filing highlight for MongoDB's growth?
The filing states that the macroeconomic environment negatively affected growth of existing Atlas applications during the six months ended July 31, 2025, and that the company expects macroeconomic headwinds on growth rates for existing Atlas applications in the short term. It also discloses a securities class action (Baxter v. MongoDB, Inc.) in which the company is unable to estimate any reasonably possible loss, and a related derivative lawsuit that is stayed pending the outcome of the motion to dismiss.
How is MongoDB using its capital and cash resources?
During the six months ended July 31, 2025, the company repurchased 929,674 shares for $200.0 million and acquired Voyage AI for purchase consideration of $160.9 million. Management states that existing cash, cash equivalents and short-term investments are sufficient to fund operating and capital needs for at least the next 12 months.
What is the status of the Baxter securities litigation?
Defendants filed a motion to dismiss on May 9, 2025, and the reply brief was filed on July 29, 2025. The Court had not yet ruled on the motion as of the filing. The company intends to vigorously defend itself.
06—Continue