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MongoDB 8-K Report, Financial Results (Dec 9, 2024)

Reports
Earnings & Results·Leadership Changes·Exhibits & Filings
Filing Date
Filed December 9, 2024
Period End
December 9, 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 December 9, 2024. Cited figures are marked; the original filing is the authoritative source.

MongoDB, Inc. (NASDAQ: MDB) reported third quarter fiscal 2025 results for the three months ended October 31, 2024, in a press release furnished as Exhibit 99.1.

Total revenue was $529.4 milliona, up 22% year-over-year, with subscription revenue of $512.2 million (up 22%) and services revenue of $17.2 million (up 18%). Atlas revenue grew 26% year-over-year and represented 68% of total Q3 revenue. GAAP loss from operations narrowed to $27.9 million from $45.2 million a year earlier, and non-GAAP income from operations was $101.5 million versus $78.5 million.

Net loss was $9.8 millionb, or $0.13 per share, compared with $29.3 million, or $0.41 per share, a year earlier. Free cash flow was $34.6 million, and the company had $2.3 billion in cash, cash equivalents, short-term investments and restricted cash as of October 31, 2024. The company issued fourth quarter and full year fiscal 2025 guidance, projecting Q4 revenue of $515.0 million to $519.0 million and full-year revenue of $1.973 billion to $1.977 billion.

Non-GAAP net income per share guidance is $0.62 to $0.65c for Q4 and $3.01 to $3.03 for the full year. The filing also reports a leadership change: Chief Operating Officer and Chief Financial Officer Michael Gordon will step down effective January 31, 2025, and will then serve as an advisor. The company has started a CFO search, and Serge Tanjga, Senior Vice President of Finance, will serve as interim CFO from February 1, 2025 if no permanent successor is named by then.

Cedric Pech, the Chief Revenue Officer, was promoted to President, Field Operations, effective immediately. For investors, the key items are the strong top-line growth and Atlas momentum alongside a CFO transition during a period of finance leadership change. Customer count reached more than 52,600 as of October 31, 2024, including 51,100+ Atlas customers and 2,314 customers above $100,000d in annualized recurring revenue.

02—Key points

Key Highlights

  1. Total revenue of $529.4 million for Q3 fiscal 2025, up 22% year-over-year; subscription revenue of $512.2 million, up 22%.
  2. MongoDB Atlas revenue grew 26% year-over-year and made up 68% of total Q3 revenue.
  3. GAAP loss from operations narrowed to $27.9 million from $45.2 million; non-GAAP income from operations rose to $101.5 million from $78.5 million.
  4. Net loss was $9.8 million, or $0.13 per share, versus a net loss of $29.3 million, or $0.41 per share, in the year-ago period.
  5. Free cash flow was $34.6 million, compared with $35.0 million in the year-ago period; cash and short-term investments totaled $2.3 billion as of October 31, 2024.
  6. Fiscal 2025 guidance: Q4 revenue of $515.0 million to $519.0 million and full-year revenue of $1.973 billion to $1.977 billion.
  7. Michael Gordon, COO and CFO, will step down effective January 31, 2025 and serve as an advisor; Serge Tanjga will serve as interim CFO from February 1, 2025 if no successor is named, and a CFO search is underway.

03—Questions

Frequently Asked Questions

  1. How did MongoDB perform in the third quarter of fiscal 2025?

    Total revenue was $529.4 million, up 22% year-over-year, and GAAP gross margin was 74%. GAAP loss from operations was $27.9 million, an improvement from $45.2 million a year earlier, and net loss was $9.8 million, or $0.13 per share.

  2. What is the company's revenue outlook for the fourth quarter and full year fiscal 2025?

    For Q4 fiscal 2025, MongoDB expects revenue of $515.0 million to $519.0 million and non-GAAP income from operations of $55.0 million to $58.0 million. For full-year fiscal 2025, it expects revenue of $1.973 billion to $1.977 billion and non-GAAP net income per share of $3.01 to $3.03.

  3. Why is Atlas significant to the results?

    MongoDB Atlas revenue grew 26% year-over-year and represented 68% of total Q3 revenue. Management cited Atlas growth and better-than-expected EA performance as drivers of the quarter's results.

  4. What leadership changes were announced?

    Chief Operating Officer and Chief Financial Officer Michael Gordon will step down effective January 31, 2025, and will then serve as an advisor. The company is searching for a new CFO, and Serge Tanjga, Senior Vice President of Finance, will serve as interim CFO from February 1, 2025 if no permanent successor is named by then. Cedric Pech was promoted to President, Field Operations, effective immediately.

  5. How many customers does MongoDB have?

    MongoDB had more than 52,600 total customers as of October 31, 2024, up from 46,400+ a year earlier at October 31, 2023. The count included 51,100+ Atlas customers and 2,314 customers with annualized recurring revenue of $100,000 or more.

04—Continue

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