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MongoDB 8-K Report, Financial Results (Aug 29, 2024)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed August 29, 2024
Period End
August 29, 2024
Security
MDB
In the record · 2017–202610-K910-Q278-K72

MDB filed 9 annual reports (10-K), 27 quarterly reports (10-Q) and 72 current reports (8-K) between 2017 and 2026.

  1. Leadership change8-K · Sep ’19Sep ’19
  2. Material agreement8-K · Jun ’21Jun ’21
  3. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed August 29, 2024. Cited figures are marked; the original filing is the authoritative source.

MongoDB, Inc. furnished a press release under Item 2.02 reporting financial results for the three months ended July 31, 2024 (fiscal Q2 2025).

Total revenue was $478.1 milliona, up 13% year-over-year, with subscription revenue of $463.8 million, up 13%. Atlas revenue grew 27% year-over-year and represented 71% of total Q2 revenue. Customer count reached over 50,700 as of July 31, 2024, and customers with $100,000 or more in ARR reached 2,189.

Profitability remained negative on a GAAP basis. Loss from operations was $71.4 millionb versus $49.0 million a year earlier, and net loss was $54.5 million, or $0.74 per share. Gross margin was 73% on a GAAP basis, compared with 75% in the year-ago period.

Non-GAAP income from operations was $52.5 millionc, compared with $79.1 million a year earlier, and non-GAAP net income was $59.0 million, or $0.70 per diluted share. Free cash flow was negative $4.0 million, compared with negative $27.3 million in the year-ago period. Cash, cash equivalents, short-term investments and restricted cash totaled $2.3 billion as of July 31, 2024.

The company guided third-quarter fiscal 2025 revenue to $493.0 million to $497.0 milliond and full-year fiscal 2025 revenue to $1.92 billion to $1.93 billion. Non-GAAP net income per share guidance is $0.65 to $0.68 for the third quarter and $2.33 to $2.47 for the full year. The filing states that GAAP reconciliations for forward-looking non-GAAP guidance are not available without unreasonable efforts, citing variability in stock-based compensation tied to share price.

02—Key points

Key Highlights

  1. Total revenue of $478.1 million, up 13% year-over-year; subscription revenue of $463.8 million, up 13%.
  2. Atlas revenue grew 27% year-over-year and made up 71% of total Q2 revenue.
  3. GAAP loss from operations widened to $71.4 million from $49.0 million; net loss was $54.5 million, or $0.74 per share.
  4. Non-GAAP income from operations was $52.5 million, down from $79.1 million; non-GAAP diluted net income per share was $0.70, down from $0.93.
  5. Free cash flow was negative $4.0 million, an improvement from negative $27.3 million a year earlier.
  6. Customers reached over 50,700, and customers with $100,000 or more in ARR rose to 2,189 from 1,855 a year earlier.
  7. Full-year fiscal 2025 revenue guidance of $1.92 billion to $1.93 billion and non-GAAP net income per share guidance of $2.33 to $2.47.

03—Questions

Frequently Asked Questions

  1. How did MongoDB perform in the quarter ended July 31, 2024?

    Total revenue was $478.1 million, up 13% year-over-year. Atlas revenue grew 27% and accounted for 71% of total revenue. GAAP net loss was $54.5 million, or $0.74 per share, compared with a net loss of $37.6 million, or $0.53 per share, a year earlier.

  2. What is the company's guidance for the rest of fiscal 2025?

    For the third quarter of fiscal 2025, MongoDB expects revenue of $493.0 million to $497.0 million and non-GAAP income from operations of $57.0 million to $60.0 million, with non-GAAP net income per share of $0.65 to $0.68. For full-year fiscal 2025, it expects revenue of $1.92 billion to $1.93 billion, non-GAAP income from operations of $187.0 million to $195.0 million, and non-GAAP net income per share of $2.33 to $2.47.

  3. How much cash does MongoDB have, and how is its cash flow trending?

    As of July 31, 2024, MongoDB had $2.3 billion in cash, cash equivalents, short-term investments and restricted cash. Free cash flow was negative $4.0 million for the quarter, compared with negative $27.3 million in the year-ago period. Net cash used in operating activities was $1.4 million for the quarter. For the six months ended July 31, 2024, free cash flow was $57.0 million.

  4. Why does the company's non-GAAP profitability differ from its GAAP results?

    Non-GAAP measures exclude stock-based compensation, amortization of intangible assets from prior acquisitions, and, for net income, debt issuance cost amortization and gains or losses on financial instruments. Stock-based compensation was $122.4 million in the quarter. The filing also notes that stock-based compensation is sensitive to share price fluctuations, which makes GAAP guidance reconciliations unavailable without unreasonable efforts.

04—Continue

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