MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results

"As we enter fiscal 2025, we will continue to invest in our key product development and go-to-market initiatives to fully capitalize on our long-term growth opportunity. MongoDB's flexible and scalable platform will be critical for any organization looking to leverage artificial intelligence to build smarter and more impactful applications easier than ever."

Fourth Quarter Fiscal 2024 Financial Highlights

• Revenue: Total revenue was $458.0 million for the fourth quarter of fiscal 2024, an increase of 27% year-over-year. Subscription revenue was $444.9 million, an increase of 28% year-over-year, and services revenue was $13.1 million, a decrease of 1% year-over-year.
• Gross Profit: Gross profit was $343.4 million for the fourth quarter of fiscal 2024, representing a 75% gross margin consistent with the year-ago period. Non-GAAP gross profit was $353.6 million, representing a 77% non-GAAP gross margin, compared to a non-GAAP gross margin of 78% in the year-ago period.
• Loss from Operations: Loss from operations was $71.0 million for the fourth quarter of fiscal 2024, compared to a loss from operations of $72.9 million in the year-ago period. Non-GAAP income from operations was $69.2 million, compared to a non-GAAP income from operations of $37.2 million in the year-ago period.
• Net Loss: Net loss was $55.5 million, or $0.77 per share, based on 72.3 million weighted-average shares outstanding, for the fourth quarter of fiscal 2024. This compares to a net loss of $64.4 million, or $0.93 per share, in the year-ago period. Non-GAAP net income was $71.1 million, or $0.86 per share, based on 82.9 million diluted weighted-average shares outstanding. This compares to a non-GAAP net income of $46.4 million, or $0.57 per share, in the year-ago period.
• Cash Flow: As of January 31, 2024, MongoDB had $2.0 billion in cash, cash equivalents, short-term investments and restricted cash. During the three months ended January 31, 2024, MongoDB generated $54.6 million of cash from operations, used $2.7 million of cash in capital expenditures and used $1.4 million of cash in principal repayments of finance leases, leading to free cash flow of $50.5 million, compared to free cash flow of $23.8 million in the year-ago period.

Full Year Fiscal 2024 Financial Highlights

• Revenue: Total revenue was $1.68 billion for the full year fiscal 2024, an increase of 31% year-over-year. Subscription revenue was $1.63 billion, an increase of 32% year-over-year, and services revenue was $55.7 million, an increase of 14% year-over-year.
• Gross Profit: Gross profit was $1.26 billion for the full year fiscal 2024, representing a 75% gross margin compared to 73% in the year-ago period. Non-GAAP gross profit was $1.30 billion, representing a 77% non-GAAP gross margin, compared to a non-GAAP gross margin of 75% in the year-ago period.
• Loss from Operations: Loss from operations was $233.7 million for the full year fiscal 2024, compared to a loss from operations of $346.7 million in the year-ago period. Non-GAAP income from operations was $270.4 million, compared to a non-GAAP income from operations of $62.0 million in the year-ago period.
• Net Loss: Net loss was $176.6 million, or $2.48 per share, based on 71.2 million weighted-average shares outstanding, for the full year fiscal 2024. This compares to a net loss of $345.4 million, or $5.03 per share in the year-ago period. Non-GAAP net income was $274.2 million or $3.33 per share based on 82.4 million diluted weighted-average shares outstanding. This compares to a non-GAAP net income of $64.7 million or $0.81 per share in the year-ago period.
• Cash Flow: During the year ended January 31, 2024, MongoDB generated $121.5 million of cash from operations, compared to $13.0 million of cash used in operations in the year-ago period. Free cash flow for the year ended January 31, 2024 was $109.9 million, compared to negative free cash flow of $24.7 million in the year-ago period.

A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

Fourth Quarter Fiscal 2024 and Recent Business Highlights

• MongoDB Atlas—the most widely available cloud-based developer data platform in the world—expanded across AWS, Google Cloud, and Microsoft Azure and is now available in 117 cloud regions globally, including Indonesia, Poland, Bahrain and Chile. With its broad global coverage, Atlas meets the needs of customers with demanding data residency, latency and high availability requirements for their business-critical applications.
• MongoDB was showcased as a key partner at Microsoft Ignite, highlighting collaboration to further empower developers to securely bring the power of large language models (LLMs) to their proprietary data. MongoDB Atlas is now integrated with Microsoft Fabric to run large-scale AI workloads across the enterprise data estate, and MongoDB Atlas Vector Search now also includes native support for Microsoft Semantic Kernel for working with LLMs.
• For the second consecutive year, MongoDB was named a Leader in the 2023 Gartner® Magic Quadrant™ for Cloud Database Management Systems.

First Quarter and Full Year Fiscal 2025 Guidance

Based on information available to management as of today, March 7, 2024, MongoDB is issuing the following financial guidance for the first quarter and full year fiscal 2025. This guidance reflects the impact of over $80 million of FY24 revenue, related to multi-year term licenses and unused Atlas commitments, that we do 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 due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in MongoDB's stock price. MongoDB expects the variability of the above charges to have a significant, and potentially unpredictable, impact on its future GAAP financial results.

Conference Call Information

MongoDB will host a conference call today, March 7, 2024, at 5:00 p.m. (Eastern Time) to discuss its financial results and business outlook. A live webcast of the call will be available on the "Investor Relations" page of MongoDB's website at https://investors.mongodb.com. To access the call by phone, please go to this link (registration link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at http://investors.mongodb.com.

Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning MongoDB's financial guidance for the first fiscal quarter and full year fiscal 2025, our ability to capitalize on our market opportunity and deliver strong growth for the foreseeable future as well as the criticality of MongoDB to artificial intelligence application development. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "will," "would" or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: the effects of the ongoing military conflicts between Russia and Ukraine and Israel and Hamas on our business and future operating results; economic downturns and/or the effects of rising interest rates, inflation and volatility in the global economy and financial markets on our business and future operating results; our potential failure to meet publicly announced guidance or other expectations about our business and future operating results; our limited operating history; our history of losses; failure of our platform to satisfy customer demands; the effects of increased competition; our investments in new products and our ability to introduce new features, services or enhancements; social, ethical and security issues relating to the use of new and evolving technologies, such as artificial intelligence, in our offerings or partnerships; our ability to effectively expand our sales and marketing organization; our ability to continue to build and maintain credibility with the developer community; our ability to add new customers or increase sales to our existing customers; our ability to maintain, protect, enforce and enhance our intellectual property; the effects of social, ethical and regulatory issues relating to the use of new and evolving technologies, such as artificial intelligence, in our offerings or partnerships; the growth and expansion of the market for database products and our ability to penetrate that market; our ability to integrate acquired businesses and technologies successfully or achieve the expected benefits of such acquisitions; our ability to maintain the security of our software and adequately address privacy concerns; our ability to manage our growth effectively and successfully recruit and retain additional highly-qualified personnel; and the price volatility of our common stock. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission ("SEC"), including under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2023, filed with the SEC on December 7, 2023. Additional information will be made available in our Annual Report on Form 10-K for the year ended January 31, 2024 and other filings and reports that we may file from time to time with the SEC. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

Non-GAAP Financial Measures

This press release includes the following financial measures defined as non-GAAP financial measures by the SEC: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share and free cash flow. Non-GAAP gross profit and non-GAAP gross margin exclude expenses associated with stock-based compensation. Non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income and non-GAAP net income per share exclude:

• expenses associated with stock-based compensation including employer payroll taxes upon the vesting and exercising of stock-based awards and expenses related to stock appreciation rights previously issued to our employees in China;
• amortization of intangible assets for the acquired technology and acquired customer relationships associated with prior acquisitions; and
• in the case of non-GAAP net income and non-GAAP net income per share, amortization of the debt issuance costs associated with our convertible senior notes and gains or losses on non-marketable securities;
• additionally, non-GAAP net income and non-GAAP net income per share for the fiscal year 2024 periods are adjusted for an assumed provision for income taxes based on an estimated long-term non-GAAP tax rate. The non-GAAP tax rate was calculated utilizing a three-year financial projection that excludes the direct impact of the GAAP to non-GAAP adjustments and considers other factors such as operating structure and existing tax positions in various jurisdictions. We intend to periodically reevaluate the projected long-term tax rate, as necessary, for significant events and our ongoing analysis of relevant tax law changes.

MongoDB uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating MongoDB's ongoing operational performance. MongoDB believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in MongoDB's industry, many of which may present similar non-GAAP financial measures to investors.

Free cash flow represents net cash from/used in operating activities, less capital expenditures, principal repayments of finance lease liabilities and capitalized software development costs, if any. MongoDB uses free cash flow to understand and evaluate its liquidity and to generate future operating plans. The exclusion of capital expenditures, principal repayments of finance lease liabilities and amounts capitalized for software development facilitates comparisons of MongoDB's liquidity on a period-to-period basis and excludes items that it does not consider to be indicative of its liquidity. MongoDB believes that free cash flow is a measure of liquidity that provides useful information to investors in understanding and evaluating the strength of its liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business in the same manner as MongoDB's management and board of directors.

Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In particular, other companies may report non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP net income, non-GAAP net income per share, free cash flow or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, as presented below. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of MongoDB's website at https://investors.mongodb.com.

About MongoDB

Headquartered in New York, MongoDB's mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. Built by developers, for developers, MongoDB's developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today's wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses. To learn more, visit mongodb.com.

Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com

Media Relations
MongoDB
press@mongodb.com

MONGODB, INC. CONSOLIDATED BALANCE SHEETS (in thousands, except share and per share data) (unaudited)
	January 31, 2024		January 31, 2023
Assets
Current assets:
Cash and cash equivalents	$           802,959		$           455,826
Short-term investments	1,212,448		1,380,804
Accounts receivable, net of allowance for doubtful accounts of $8,054 and $6,362 as of January 31, 2024 and 2023, respectively	325,610		285,192
Deferred commissions	92,512		83,550
Prepaid expenses and other current assets	50,107		31,212
Total current assets	2,483,636		2,236,584
Property and equipment, net	53,042		57,841
Operating lease right-of-use assets	37,365		41,194
Goodwill	69,679		57,779
Acquired intangible assets, net	3,957		11,428
Deferred tax assets	4,116		2,564
Other assets	217,847		181,503
Total assets	$        2,869,642		$        2,588,893
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable	$               9,905		$               8,295
Accrued compensation and benefits	112,579		90,112
Operating lease liabilities	9,797		8,686 Werbung Mehr Nachrichten zur MongoDB Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 18.05.24 - Jörg Schulte **MINEN-AKTIEN EXPLODIEREN **: KAUF-ALARM: GOLD knallt hoch! GOLD-MINEN vor Jahrhundert-Hausse?! Diese Aktie sofort kaufen! 18.05.24 - Small- & Micro Cap ... Technologieführerschaft als Wettbewerbsvorteil – Tesla, De.mem, Nvidia 18.05.24 - bullvestor Spezial Report: NASDAQ-FinTech mit 3.000% Wachstum und 500% Kurs-Chance!