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MongoDB, Inc. (NASDAQ: MDB) is a leading force in the database technology space, providing a modern and highly scalable document-oriented database platform. Founded in 2007 and headquartered in New York, MongoDB revolutionizes how businesses harness data, supporting a wide range of applications from startups to large enterprises. With over 9 million downloads and nearly 33,000 paying customers, MongoDB's ecosystem is one of the fastest-growing in the database industry.
MongoDB's core offering is its NoSQL database, which is compatible with all major programming languages and can be deployed in diverse use cases. Through both license-based and subscription-based models, the company caters to various customer needs, ensuring flexibility and scalability.
One of MongoDB's prominent products is MongoDB Atlas, a multi-cloud developer data platform that integrates an operational database with data and application services. MongoDB Atlas simplifies the process of building, deploying, and managing modern applications that require high performance and scale. Recently, MongoDB announced new capabilities in Atlas that make it easier to build generative AI applications, enabling organizations to leverage real-time operational data more effectively.
In fiscal 2024, MongoDB reported strong financial performance with a 34% growth in Atlas revenue and an improvement in operating margins. The company continues to invest in product development and market expansion, recognizing the significant long-term growth opportunities, particularly in AI-driven applications.
MongoDB has also introduced the MongoDB AI Applications Program (MAAP), designed to help organizations rapidly build and deploy innovative applications enriched with generative AI technology. This program provides a comprehensive suite of tools, professional services, and strategic partnerships to support enterprises in embedding AI into their applications.
Furthermore, MongoDB's commitment to developer success is evident through MongoDB University, which has trained millions of developers, and through its extensive network of over 1,000 technology and service partners.
MongoDB's mission is to empower innovators to create, transform, and disrupt industries by unleashing the power of software and data. As the database landscape evolves, MongoDB remains at the forefront, enabling organizations to build smarter and more impactful applications with greater ease.
MongoDB (MDB) reported strong Q3 FY2025 results with total revenue reaching $529.4 million, up 22% year-over-year. MongoDB Atlas revenue grew 26%, representing 68% of total Q3 revenue. The company expanded its customer base to over 52,600.
Financial highlights include subscription revenue of $512.2 million (+22% YoY), gross profit of $394.0 million (74% margin), and a net loss of $9.8 million ($0.13 per share). Non-GAAP net income was $98.1 million ($1.16 per share).
The company announced CFO Michael Gordon will step down on January 31, 2025. For Q4 FY2025, MongoDB projects revenue between $515.0-$519.0 million and full-year revenue of $1.973-$1.977 billion.
MongoDB (NASDAQ: MDB) has announced its participation in the Barclays 22nd Annual Global Technology Conference in San Francisco. President and CEO Dev Ittycheria, along with COO and CFO Michael Gordon, will deliver a presentation on Wednesday, December 11, 2024, at 9:15 AM PT (12:15 PM ET).
The presentation will be accessible through a live webcast on MongoDB's investor relations website's Events page. A replay option will be available for a duration following the event.
MongoDB announced the expansion of its AI Applications Program (MAAP) with new partners including Capgemini, Confluent, IBM, QuantumBlack, AI by McKinsey, and Unstructured. The company is also collaborating with Meta on Llama to support developers. The program has already helped customers like CentralReach, which uses MAAP for its AI-powered autism care platform. The expansion follows MongoDB's introduction of vector quantization to Atlas Vector Search, reducing vector sizes while maintaining performance at lower costs. The MAAP Center of Excellence Team has worked with over 150 organizations on various technical challenges since the program's launch in 2024.
MongoDB (MDB) announced three new capabilities through an expanded collaboration with Microsoft. First, MongoDB Atlas can now be used as a vector store in Microsoft Azure AI Foundry, enabling RAG applications with Azure OpenAI Service. Second, Open Mirroring in Microsoft Fabric for MongoDB Atlas allows near real-time data synchronization. Third, MongoDB Enterprise Advanced is now available on Azure Marketplace for Azure Arc-enabled Kubernetes applications, supporting multi-environment deployments.
The integrations enable customers to enhance LLMs with proprietary data stored in MongoDB Atlas, generate faster business insights through Microsoft Fabric, and deploy MongoDB across various environments including on-premises, hybrid, and multi-cloud setups.
MongoDB (NASDAQ: MDB) has announced it will release its third quarter fiscal 2025 financial results for the period ended October 31, 2024, after U.S. market close on Monday, December 9, 2024. The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss financial results and business outlook. A live webcast will be available on the Investor Relations page of MongoDB's website, with dial-in details provided through registration. A replay will be available for a time.
MongoDB (Nasdaq: MDB) has announced the redemption of all outstanding 0.25% convertible senior notes due 2026, totaling $1,149,972,000 in aggregate principal amount. The redemption date is set for December 16, 2024, with the redemption price equal to 100% of the principal amount plus accrued and unpaid interest from July 15, 2024.
Noteholders can convert their notes until 5:00 p.m. (New York City time) on December 13, 2024. The conversion rate is 4.9260 shares of MongoDB common stock per $1,000 principal amount, which includes an increase of 0.1911 shares due to the redemption call. MongoDB will settle conversions during the redemption period by delivering shares of its common stock and cash for any fractional shares.
MongoDB has announced the general availability of MongoDB 8.0, touted as the best-performing version of the popular document database. Key improvements include:
- Up to 32% better overall throughput
- 200% faster time series data aggregations
- Up to 50x faster data distribution for scaling
- Up to 50% reduction in single-shard cluster costs
MongoDB 8.0 also expands Queryable Encryption capabilities, enhancing data security. The update focuses on enterprise-grade security, durability, availability, and performance, with over 45 architectural improvements and new features. It's now available on major cloud platforms through MongoDB Atlas, Enterprise Advanced, and as a free Community Edition download.
MongoDB has expanded its MongoDB for Academia program in India, partnering with the All India Council for Technical Education (AICTE) and learning platforms SmartInternz and GeeksforGeeks. The initiative aims to upskill 500,000 students in modern database technologies and AI-powered application development.
Key highlights include:
- A virtual internship program with AICTE and SmartInternz to provide full-stack development skills to over 150,000 students
- Collaboration with GeeksforGeeks to make MongoDB Developer Learning Path available to 25 million registered users
- Over 200 partnerships with educational institutions established
- More than 100,000 students trained and 450,000 hours of learning completed
The program addresses India's growing demand for skilled tech talent, with an estimated need for 6 million digital roles by 2028.
MongoDB (NASDAQ: MDB) reported Q2 fiscal 2025 financial results with total revenue of $478.1 million, up 13% year-over-year. Key highlights include:
- MongoDB Atlas revenue up 27% YoY, representing 71% of total Q2 revenue
- Customer base grew to over 50,700
- Subscription revenue increased 13% YoY to $463.8 million
- Non-GAAP income from operations was $52.5 million
- Non-GAAP net income was $59.0 million, or $0.70 per share
The company issued Q3 guidance with revenue between $493.0-$497.0 million and full-year fiscal 2025 revenue guidance of $1.92-$1.93 billion. MongoDB also announced the general availability of its AI Applications Program (MAAP) and highlighted its strong partnerships with major cloud providers.
MongoDB (NASDAQ: MDB) has announced its participation in three upcoming conferences in September 2024:
- Citi 2024 Global TMT Conference in New York, NY
- Goldman Sachs Communacopia + Technology Conference in San Francisco, CA
- Piper Sandler Growth Frontiers Conference in Nashville, TN
Key executives, including Michael Gordon (COO & CFO), Serge Tanjga (SVP of Finance), and Dev Ittycheria (President & CEO), will represent MongoDB at these events. The presentations are scheduled for September 4, 9, and 11, respectively. Live webcasts will be available on MongoDB's investor relations website, with replays accessible for a time.
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