MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2025 Financial Results
MongoDB (MDB) reported strong Q4 FY2025 results with total revenue reaching $548.4 million, up 20% year-over-year. Full-year revenue hit $2.01 billion, growing 19% compared to the previous year. MongoDB Atlas, representing 71% of Q4 revenue, showed robust growth of 24% year-over-year.
The company achieved significant customer growth, surpassing 54,500 customers. Q4 highlights include a net income of $15.8 million ($0.20 per share), compared to a net loss of $55.5 million in the year-ago period. Non-GAAP net income reached $108.4 million ($1.28 per share).
Notable developments include the acquisition of Voyage AI to enhance AI-powered applications, completion of 2026 Convertible Notes redemption, and announcement of a $200 million stock buyback program. The company maintains a strong financial position with $2.3 billion in cash and investments as of January 31, 2025.
MongoDB (MDB) ha riportato risultati solidi per il quarto trimestre dell'anno fiscale 2025, con ricavi totali che hanno raggiunto 548,4 milioni di dollari, in aumento del 20% rispetto all'anno precedente. I ricavi annuali totali hanno toccato 2,01 miliardi di dollari, crescendo del 19% rispetto all'anno precedente. MongoDB Atlas, che rappresenta il 71% dei ricavi del quarto trimestre, ha mostrato una crescita robusta del 24% anno su anno.
L'azienda ha raggiunto una significativa crescita dei clienti, superando 54.500 clienti. I punti salienti del quarto trimestre includono un utile netto di 15,8 milioni di dollari (0,20 dollari per azione), rispetto a una perdita netta di 55,5 milioni di dollari nello stesso periodo dell'anno precedente. L'utile netto non-GAAP ha raggiunto 108,4 milioni di dollari (1,28 dollari per azione).
Sviluppi notevoli includono l'acquisizione di Voyage AI per migliorare le applicazioni alimentate da intelligenza artificiale, il completamento del rimborso delle Note Convertibili 2026 e l'annuncio di un programma di riacquisto di azioni da 200 milioni di dollari. L'azienda mantiene una solida posizione finanziaria con 2,3 miliardi di dollari in contante e investimenti al 31 gennaio 2025.
MongoDB (MDB) reportó resultados sólidos para el cuarto trimestre del año fiscal 2025, con ingresos totales alcanzando 548.4 millones de dólares, un aumento del 20% interanual. Los ingresos anuales totales llegaron a 2.01 mil millones de dólares, creciendo un 19% en comparación con el año anterior. MongoDB Atlas, que representa el 71% de los ingresos del cuarto trimestre, mostró un crecimiento robusto del 24% interanual.
La empresa logró un crecimiento significativo de clientes, superando 54,500 clientes. Los puntos destacados del cuarto trimestre incluyen un ingreso neto de 15.8 millones de dólares (0.20 dólares por acción), en comparación con una pérdida neta de 55.5 millones de dólares en el mismo período del año anterior. El ingreso neto no-GAAP alcanzó 108.4 millones de dólares (1.28 dólares por acción).
Desarrollos notables incluyen la adquisición de Voyage AI para mejorar aplicaciones impulsadas por IA, la finalización del reembolso de Notas Convertibles 2026 y el anuncio de un programa de recompra de acciones de 200 millones de dólares. La empresa mantiene una sólida posición financiera con 2.3 mil millones de dólares en efectivo e inversiones al 31 de enero de 2025.
MongoDB (MDB)는 2025 회계연도 4분기 실적을 발표하며 총 수익이 5억 4840만 달러에 달해 전년 대비 20% 증가했다고 보고했습니다. 연간 수익은 20억 1000만 달러에 이르며, 전년 대비 19% 성장했습니다. MongoDB Atlas는 4분기 수익의 71%를 차지하며 전년 대비 24%의 견고한 성장을 보여주었습니다.
회사는 54,500명 이상의 고객을 초과 달성하며 고객 성장을 크게 이루었습니다. 4분기 주요 성과로는 순이익 1580만 달러(주당 0.20달러)가 있으며, 이는 작년 동기 5550만 달러의 순손실과 비교됩니다. 비-GAAP 순이익은 1억 840만 달러(주당 1.28달러)에 달했습니다.
주목할 만한 발전으로는 AI 기반 애플리케이션을 강화하기 위한 Voyage AI의 인수, 2026년 전환사채 상환 완료, 2억 달러 규모의 자사주 매입 프로그램 발표가 있습니다. 회사는 2025년 1월 31일 기준으로 23억 달러의 현금 및 투자 자산을 보유하며 강력한 재무 상태를 유지하고 있습니다.
MongoDB (MDB) a annoncé des résultats solides pour le quatrième trimestre de l'exercice 2025, avec un chiffre d'affaires total atteignant 548,4 millions de dollars, en hausse de 20 % par rapport à l'année précédente. Le chiffre d'affaires annuel a atteint 2,01 milliards de dollars, enregistrant une croissance de 19 % par rapport à l'année précédente. MongoDB Atlas, représentant 71 % des revenus du quatrième trimestre, a montré une croissance robuste de 24 % d'une année sur l'autre.
L'entreprise a connu une croissance significative de sa clientèle, dépassant 54 500 clients. Les faits marquants du quatrième trimestre incluent un bénéfice net de 15,8 millions de dollars (0,20 dollar par action), contre une perte nette de 55,5 millions de dollars au cours de la même période l'année précédente. Le bénéfice net non-GAAP a atteint 108,4 millions de dollars (1,28 dollar par action).
Parmi les développements notables, citons l'acquisition de Voyage AI pour améliorer les applications alimentées par l'IA, l'achèvement du remboursement des Obligations Convertibles 2026 et l'annonce d'un programme de rachat d'actions de 200 millions de dollars. L'entreprise maintient une position financière solide avec 2,3 milliards de dollars en liquidités et investissements au 31 janvier 2025.
MongoDB (MDB) hat starke Ergebnisse für das vierte Quartal des Geschäftsjahres 2025 gemeldet, mit einem Gesamtumsatz von 548,4 Millionen Dollar, was einem Anstieg von 20% im Vergleich zum Vorjahr entspricht. Der Jahresumsatz betrug 2,01 Milliarden Dollar, was einem Wachstum von 19% im Vergleich zum Vorjahr entspricht. MongoDB Atlas, das 71% des Umsatzes im vierten Quartal ausmachte, zeigte ein robustes Wachstum von 24% im Jahresvergleich.
Das Unternehmen erzielte ein signifikantes Kundenwachstum und überschritt 54.500 Kunden. Zu den Höhepunkten des vierten Quartals gehören ein Nettogewinn von 15,8 Millionen Dollar (0,20 Dollar pro Aktie), verglichen mit einem Nettverlust von 55,5 Millionen Dollar im Vorjahreszeitraum. Der Non-GAAP Nettogewinn erreichte 108,4 Millionen Dollar (1,28 Dollar pro Aktie).
Bemerkenswerte Entwicklungen sind die Übernahme von Voyage AI zur Verbesserung von KI-gestützten Anwendungen, der Abschluss der Rückzahlung der Wandelanleihen 2026 und die Ankündigung eines Aktienrückkaufprogramms über 200 Millionen Dollar. Das Unternehmen hält eine starke finanzielle Position mit 2,3 Milliarden Dollar in Bargeld und Investitionen zum 31. Januar 2025.
- Revenue growth of 20% YoY to $548.4M in Q4
- MongoDB Atlas revenue up 24% YoY
- Customer base exceeded 54,500
- Q4 net income of $15.8M vs loss in previous year
- Strong cash position of $2.3B
- Elimination of all debt through redemption of 2026 Convertible Notes
- Gross margin declined to 73% from 75% YoY
- Free cash flow decreased to $22.9M from $50.5M YoY
- Expected decline in non-Atlas revenue for FY2026
Insights
MongoDB's Q4 and FY2025 results demonstrate solid execution in a competitive database market. The company achieved
The standout metric is MongoDB Atlas performance, growing
MongoDB's balance sheet significantly improved with the elimination of all debt through the redemption of 2026 Convertible Notes, while maintaining
Two cautionary signals: Q4 free cash flow declined to
MongoDB's acquisition of Voyage AI represents a strategic technological pivot that strengthens its competitive position in the AI-driven database market. By integrating Voyage's embedding and reranking models directly into its document database architecture, MongoDB is building a compelling technical foundation for AI-powered applications without requiring complex data movement between systems.
This integration addresses a critical pain point in enterprise AI implementation: the disconnect between operational databases and vector databases used for AI retrieval. MongoDB is effectively collapsing these separate technologies into a unified platform where developers can build AI applications with real-time data access, potentially reducing both complexity and latency.
The performance metrics from the Lombard Odier implementation highlight MongoDB's technical advantages—code migration 50-60 times faster and database migration 20 times faster than previous approaches. These efficiency gains represent significant technical differentiation in enterprise modernization projects.
MongoDB's inclusion as a Leader in Gartner's Magic Quadrant for Cloud Database Management Systems for the third consecutive year validates its technical evolution from a specialized NoSQL database to a comprehensive cloud data platform. The company's emphasis on its flexible document model for AI workloads indicates a deliberate technical strategy to position MongoDB as the operational database of choice for next-generation AI applications.
With both consumption metrics exceeding expectations and continued workload wins, MongoDB demonstrates that its technical architecture continues resonating with developers building modern applications, particularly as AI requirements become standard in enterprise software development.
Fourth Quarter Fiscal 2025 Total Revenue of
Full Year Fiscal 2025 Total Revenue of
Continued Strong Customer Growth with Over 54,500 Customers as of January 31, 2025
MongoDB Atlas Revenue up
"MongoDB delivered a strong end to fiscal 2025 with
"Looking ahead, we remain incredibly excited about our long-term growth opportunity. MongoDB removes the constraints of legacy databases, enabling businesses to innovate at AI speed with our flexible document model and seamless scalability. Following the Voyage AI acquisition, we combine real-time data, sophisticated embedding and retrieval models and semantic search directly in the database, simplifying the development of trustworthy AI-powered apps."
Fourth Quarter Fiscal 2025 Financial Highlights
- Revenue: Total revenue was
for the fourth quarter of fiscal 2025, an increase of$548.4 million 20% year-over-year. Subscription revenue was , an increase of$531.0 million 19% year-over-year, and services revenue was , an increase of$17.4 million 34% year-over-year. - Gross Profit: Gross profit was
for the fourth quarter of fiscal 2025, representing a$399.4 million 73% gross margin compared to75% in the year-ago period. Non-GAAP gross profit was , representing a$411.7 million 75% non-GAAP gross margin, compared to a non-GAAP gross margin of77% in the year-ago period. - Loss from Operations: Loss from operations was
for the fourth quarter of fiscal 2025, compared to a loss from operations of$18.6 million in the year-ago period. Non-GAAP income from operations was$71.0 million , compared to non-GAAP income from operations of$112.5 million in the year-ago period.$69.2 million - Net Income (Loss): Net income was
, or$15.8 million per share, based on 77.6 million weighted-average shares outstanding, for the fourth quarter of fiscal 2025. This compares to a net loss of$0.20 , or$55.5 million per share, in the year-ago period. Non-GAAP net income was$0.77 , or$108.4 million per share, based on 84.6 million fully diluted weighted-average shares outstanding. This compares to a non-GAAP net income of$1.28 , or$71.1 million per share, in the year-ago period.$0.86 - Cash Flow: As of January 31, 2025, MongoDB had
in cash, cash equivalents, short-term investments and restricted cash. During the three months ended January 31, 2025, MongoDB generated$2.3 billion of cash from operations, compared to$50.5 million of cash from operations in the year-ago period. MongoDB used$54.6 million of cash in capital expenditures and used$26.0 million of cash in principal payments of finance leases, leading to free cash flow of$1.6 million , compared to free cash flow of$22.9 million in the year-ago period.$50.5 million
Full Year Fiscal 2025 Financial Highlights
- Revenue: Total revenue was
for the full year fiscal 2025, an increase of$2.01 billion 19% year-over-year. Subscription revenue was , an increase of$1.94 billion 19% year-over-year, and services revenue was , an increase of$62.6 million 12% year-over-year. - Gross Profit: Gross profit was
for the full year fiscal 2025, representing a$1.47 billion 73% gross margin compared to75% in the year-ago period. Non-GAAP gross profit was , representing a$1.52 billion 76% non-GAAP gross margin, compared to a non-GAAP gross margin of77% in the year-ago period. - Loss from Operations: Loss from operations was
for the full year fiscal 2025, compared to a loss from operations of$216.1 million in the year-ago period. Non-GAAP income from operations was$233.7 million , compared to a non-GAAP income from operations of$299.3 million in the year-ago period.$270.4 million - Net Loss: Net loss was
, or$129.1 million per share, based on 74.6 million weighted-average shares outstanding, for the full year fiscal 2025. This compares to a net loss of$1.73 , or$176.6 million per share in the year-ago period. Non-GAAP net income was$2.48 , or$308.2 million per share based on 84.1 million fully diluted weighted-average shares outstanding. This compares to a non-GAAP net income of$3.66 , or$274.2 million per share, in the year-ago period.$3.33 - Cash Flow: During the year ended January 31, 2025, MongoDB generated
of cash from operations, compared to$150.2 million of cash from operations in the year-ago period. MongoDB used$121.5 million of cash in capital expenditures and used$29.6 million of cash in principal payments of finance leases, leading to free cash flow of$6.2 million , compared to free cash flow of$114.5 million in the year-ago period.$109.9 million
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 2025 and Recent Business Highlights
- MongoDB acquired Voyage AI, a pioneer in state-of-the-art embedding and reranking models that power next-generation AI applications. Integrating Voyage AI's technology with MongoDB will enable organizations to easily build trustworthy, AI-powered applications by offering highly accurate and relevant information retrieval deeply integrated with operational data.
- MongoDB completed the redemption of 2026 Convertible Notes, eliminating all debt from the balance sheet. Additionally, in conjunction with the acquisition of Voyage, MongoDB is announcing a stock buyback program of
, to offset the dilutive impact of the acquisition consideration.$200 million - For the third consecutive year, MongoDB was named a Leader in the 2024 Gartner® Magic Quadrant™ for Cloud Database Management Systems. Gartner evaluated 20 vendors based on Ability to Execute and Completeness of Vision.
- Lombard Odier, a Swiss private bank, partnered with MongoDB to migrate and modernize its legacy banking technology systems on MongoDB with generative AI. The initiative enabled the bank to migrate code 50-60 times quicker and move applications from a legacy relational database to MongoDB 20 times faster than previous migrations.
First Quarter and Full Year Fiscal 2026 Guidance
Based on information available to management as of today, March 5, 2025, MongoDB is issuing the following financial guidance for the first quarter and full year fiscal 2026. Our full year guidance assumes that non-Atlas revenue will decline high-single digits in percentage terms on a year-over-year basis.
First Quarter Fiscal 2026 | Full Year Fiscal 2026 | |
Revenue |
|
|
Non-GAAP Income from |
|
|
Non-GAAP Net Income per |
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 5, 2025, 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 2026 and underlying assumptions, our expectations regarding Atlas consumption growth and the benefits of the Voyage AI acquisition. 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: our customers renewing their subscriptions with us and expanding their usage of software and related services; global political changes; the effects of the ongoing military conflicts between
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 our financial instruments;
- additionally, non-GAAP net income and non-GAAP net income per share 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 payments 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 payments 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
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Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com
Media Relations
MongoDB
press@mongodb.com
MONGODB, INC. | |||
January 31, | January 31, | ||
Assets | |||
Current assets: | |||
Cash and cash equivalents | $ 490,133 | $ 802,959 | |
Short-term investments | 1,846,444 | 1,212,448 | |
Accounts receivable, net of allowance for doubtful accounts of | 393,099 | 325,610 | |
Deferred commissions | 112,632 | 92,512 | |
Prepaid expenses and other current assets | 81,214 | 50,107 | |
Total current assets | 2,923,522 | 2,483,636 | |
Property and equipment, net | 46,377 | 53,042 | |
Operating lease right-of-use assets | 34,607 | 37,365 | |
Goodwill | 69,679 | 69,679 | |
Intangible assets, net | 24,597 | 3,957 | |
Deferred tax assets | 20,810 | 4,116 | |
Other assets | 310,701 | 217,847 | |
Total assets | $ 3,430,293 | $ 2,869,642 | |
Liabilities and Stockholders' Equity | |||
Current liabilities: | |||
Accounts payable | $ 10,467 | $ 9,905 | |
Accrued compensation and benefits | 120,354 | 112,579 | |
Operating lease liabilities | 9,126 | 9,797 | |
Other accrued liabilities | 87,659 | 74,831 | |
Deferred revenue | 334,381 | 357,108 | |
Total current liabilities | 561,987 | 564,220 | |
Deferred tax liability | 262 | 285 | |
Operating lease liabilities | 27,374 | 30,918 | |
Deferred revenue | 25,404 | 20,296 | |
Convertible senior notes, net | — | 1,143,273 | |
Other liabilities | 33,042 | 41,661 | |
Total liabilities | 648,069 | 1,800,653 | |
Stockholders' equity: | |||
Common stock, par value of | 78 | 73 | |
Additional paid-in capital | 4,625,093 | 2,777,322 | |
Treasury stock, 99,371 shares (repurchased at an average of | (1,319) | (1,319) | |
Accumulated other comprehensive income (loss) | (924) | 4,545 | |
Accumulated deficit | (1,840,704) | (1,711,632) | |
Total stockholders' equity | 2,782,224 | 1,068,989 | |
Total liabilities and stockholders' equity | $ 3,430,293 | $ 2,869,642 |
MONGODB, INC. | |||||||
Three Months Ended January 31, | Years Ended January 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Revenue: | |||||||
Subscription | $ 530,958 | $ 444,939 | $ 1,943,864 | $ 1,627,326 | |||
Services | 17,440 | 13,063 | 62,579 | 55,685 | |||
Total revenue | 548,398 | 458,002 | 2,006,443 | 1,683,011 | |||
Cost of revenue: | |||||||
Subscription(1) | 122,676 | 94,284 | 441,404 | 345,233 | |||
Services(1) | 26,339 | 20,357 | 93,892 | 79,252 | |||
Total cost of revenue | 149,015 | 114,641 | 535,296 | 424,485 | |||
Gross profit | 399,383 | 343,361 | 1,471,147 | 1,258,526 | |||
Operating expenses: | |||||||
Sales and marketing(1) | 212,211 | 211,116 | 871,148 | 782,760 | |||
Research and development(1) | 150,400 | 145,553 | 596,837 | 515,940 | |||
General and administrative(1) | 55,334 | 57,658 | 219,226 | 193,558 | |||
Total operating expenses | 417,945 | 414,327 | 1,687,211 | 1,492,258 | |||
Loss from operations | (18,562) | (70,966) | (216,064) | (233,732) | |||
Other income, net | 22,716 | 18,880 | 84,465 | 70,216 | |||
Loss before provision for (benefit from) income taxes | 4,154 | (52,086) | (131,599) | (163,516) | |||
Provision for (benefit from) income taxes | (11,672) | 3,374 | (2,527) | 13,084 | |||
Net income (loss) | $ 15,826 | $ (55,460) | $ (129,072) | $ (176,600) | |||
Net income (loss) per share: | |||||||
Basic | $ 0.20 | $ (0.77) | $ (1.73) | $ (2.48) | |||
Diluted | $ 0.19 | $ (0.77) | $ (1.73) | $ (2.48) | |||
Weighted-average shares used to compute net income (loss) per share: | |||||||
Basic | 77,631,824 | 72,349,350 | 74,555,001 | 71,248,982 | |||
Diluted | 84,594,079 | 72,349,350 | 74,555,001 | 71,248,982 | |||
(1) Includes stock‑based compensation expense as follows: | |||||||
Three Months Ended January 31, | Years Ended January 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Cost of revenue—subscription | $ 7,982 | $ 6,070 | $ 29,548 | $ 23,677 | |||
Cost of revenue—services | 3,766 | 3,243 | 13,917 | 12,733 | |||
Sales and marketing | 40,124 | 41,340 | 161,317 | 159,907 | |||
Research and development | 58,156 | 55,689 | 226,367 | 198,927 | |||
General and administrative | 15,014 | 17,469 | 62,791 | 61,663 | |||
Total stock‑based compensation expense | $ 125,042 | $ 123,811 | $ 493,940 | $ 456,907 |
MONGODB, INC. | |||||||
Three Months Ended January 31, | Years Ended January 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Cash flows from operating activities | |||||||
Net income (loss) | $ 15,826 | $ (55,460) | $ (129,072) | $ (176,600) | |||
Adjustments to reconcile net income (loss) to net cash provided by | |||||||
Depreciation and amortization | 2,171 | 5,682 | 11,751 | 18,939 | |||
Stock-based compensation | 125,042 | 123,811 | 493,940 | 456,907 | |||
Amortization of debt discount and issuance costs | — | 850 | 2,419 | 3,393 | |||
Amortization of finance right-of-use assets | 993 | 994 | 3,974 | 3,975 | |||
Amortization of operating right-of-use assets | 2,948 | 2,430 | 11,248 | 9,211 | |||
Deferred income taxes | (15,995) | (1,002) | (16,794) | (1,574) | |||
Amortization of premium and accretion of discount on short- | (5,942) | (8,151) | (25,059) | (44,556) | |||
Realized and unrealized loss (gain) on financial | 253 | 250 | (937) | (1,044) | |||
Unrealized foreign exchange loss (gain) | (2,956) | 2,124 | (964) | 1,802 | |||
Change in operating assets and liabilities: | |||||||
Accounts receivable, net | (57,978) | (53,400) | (69,236) | (41,639) | |||
Prepaid expenses and other current assets | (24,231) | (12,908) | (24,813) | (12,208) | |||
Deferred commissions | (30,333) | (24,670) | (69,127) | (41,830) | |||
Other long-term assets | (12,973) | 4 | (30,677) | (211) | |||
Accounts payable | (1,028) | 601 | 541 | 1,679 | |||
Accrued liabilities | 2,760 | 19,188 | 25,254 | 39,502 | |||
Operating lease liabilities | (2,931) | (2,889) | (12,076) | (9,878) | |||
Deferred revenue | 54,990 | 56,313 | (16,362) | (82,411) | |||
Other liabilities, non-current | (78) | 860 | (3,819) | (1,980) | |||
Net cash provided by operating activities | 50,538 | 54,627 | 150,191 | 121,477 | |||
Cash flows from investing activities | |||||||
Purchases of property, equipment and other assets | (25,979) | (2,738) | (29,550) | (6,074) | |||
Investments in non-marketable securities | (5,500) | — | (11,250) | (2,056) | |||
Business combinations, net of cash acquired | — | — | — | (15,000) | |||
Proceeds from the sales of marketable securities | 44,984 | — | 44,984 | — | |||
Proceeds from maturities of marketable securities | 182,600 | 255,000 | 752,600 | 1,445,000 | |||
Purchases of marketable securities | (442,421) | — | (1,414,224) | (1,233,851) | |||
Net cash provided by (used in) investing activities | (246,316) | 252,262 | (657,440) | 188,019 | |||
Cash flows from financing activities | |||||||
Proceeds from settlement of capped calls and other | (366) | — | 170,223 | — | |||
Proceeds from exercise of stock options, including early | (16,672) | 1,998 | 1,968 | 6,810 | |||
Proceeds from the issuance of common stock under the | 34,427 | 17,133 | 36,048 | 36,914 | |||
Principal payments of finance leases | (1,645) | (1,400) | (6,179) | (5,483) | |||
Net cash provided by financing activities | 15,744 | 17,731 | 202,060 | 38,241 | |||
Effect of exchange rate changes on cash, cash equivalents | (2,876) | 665 | (5,701) | (433) | |||
Net increase (decrease) in cash, cash equivalents and | (182,910) | 325,285 | (310,890) | 347,304 | |||
Cash, cash equivalents and restricted cash, beginning of | 675,663 | 478,358 | 803,643 | 456,339 | |||
Cash, cash equivalents and restricted cash, end of period | $ 492,753 | $ 803,643 | $ 492,753 | $ 803,643 |
MONGODB, INC. | |||||||
Three Months Ended January 31, | Years Ended January 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Reconciliation of GAAP gross profit to non-GAAP gross | |||||||
Gross profit on a GAAP basis | $ 399,383 | $ 343,361 | $ 1,471,147 | $ 1,258,526 | |||
Gross margin (Gross profit/Total revenue) on a GAAP basis | 73 % | 75 % | 73 % | 75 % | |||
Add back: | |||||||
Expenses associated with stock-based compensation: Cost | 8,220 | 6,572 | 30,365 | 24,824 | |||
Expenses associated with stock-based compensation: Cost | 4,114 | 3,694 | 14,507 | 14,429 | |||
Non-GAAP gross profit | $ 411,717 | $ 353,627 | $ 1,516,019 | $ 1,297,779 | |||
Non-GAAP gross margin (Non-GAAP gross profit/Total | 75 % | 77 % | 76 % | 77 % | |||
Reconciliation of GAAP operating expenses to non-GAAP | |||||||
Sales and marketing operating expense on a GAAP basis | $ 212,211 | $ 211,116 | $ 871,148 | $ 782,760 | |||
Less: | |||||||
Expenses associated with stock-based compensation | 41,725 | 45,713 | 166,854 | 176,351 | |||
Amortization of intangible assets | — | 85 | 85 | 2,365 | |||
Non-GAAP sales and marketing operating expense | $ 170,486 | $ 165,318 | $ 704,209 | $ 604,044 | |||
Research and development operating expense on a GAAP | $ 150,400 | $ 145,553 | $ 596,837 | $ 515,940 | |||
Less: | |||||||
Expenses associated with stock-based compensation | 61,091 | 60,373 | 234,257 | 209,052 | |||
Amortization of intangible assets | 170 | 3,085 | 3,078 | 8,207 | |||
Non-GAAP research and development operating expense | $ 89,139 | $ 82,095 | $ 359,502 | $ 298,681 | |||
General and administrative operating expense on a GAAP | $ 55,334 | $ 57,658 | $ 219,226 | $ 193,558 | |||
Less: | |||||||
Expenses associated with stock-based compensation | 15,725 | 20,603 | 66,194 | 68,932 | |||
Non-GAAP general and administrative operating expense | $ 39,609 | $ 37,055 | $ 153,032 | $ 124,626 | |||
Reconciliation of GAAP loss from operations to non-GAAP | |||||||
Loss from operations on a GAAP basis | $ (18,562) | $ (70,966) | $ (216,064) | $ (233,732) | |||
GAAP operating margin (Loss from operations/Total | (3) % | (15) % | (11) % | (14) % | |||
Add back: | |||||||
Expenses associated with stock-based compensation | 130,874 | 136,955 | 512,177 | 493,588 | |||
Amortization of intangible assets | 170 | 3,170 | 3,163 | 10,572 | |||
Non-GAAP income from operations | $ 112,482 | $ 69,159 | $ 299,276 | $ 270,428 | |||
Non-GAAP operating margin (Non-GAAP Income from | 21 % | 15 % | 15 % | 16 % | |||
Reconciliation of GAAP net income (loss) to non-GAAP net | |||||||
Net income (loss) on a GAAP basis | $ 15,826 | $ (55,460) | $ (129,072) | $ (176,600) | |||
Add back: | |||||||
Expenses associated with stock-based compensation | 130,874 | 136,955 | 512,177 | 493,588 | |||
Amortization of intangible assets | 170 | 3,170 | 3,163 | 10,572 | |||
Amortization of debt issuance costs related to convertible | — | 850 | 2,419 | 3,393 | |||
Less: | |||||||
Gains (loss) on financial instruments, net | (253) | — | 937 | 1,294 | |||
Income tax effects and adjustments * | 38,762 | 14,404 | 79,572 | 55,465 | |||
Non-GAAP net income | $ 108,361 | $ 71,111 | $ 308,178 | $ 274,194 | |||
Reconciliation of GAAP net income (loss) per share, | |||||||
Net income (loss) per share, diluted, on a GAAP basis | $ 0.19 | $ (0.77) | $ (1.73) | $ (2.48) | |||
Add back: | |||||||
Expenses associated with stock-based compensation | 1.55 | 1.89 | 6.87 | 6.93 | |||
Amortization of intangible assets | — | 0.04 | 0.04 | 0.15 | |||
Amortization of debt issuance costs related to convertible | — | 0.01 | 0.03 | 0.05 | |||
Less: | |||||||
Gains (loss) on financial instruments, net | — | — | 0.01 | 0.02 | |||
Income tax effects and adjustments * | 0.46 | 0.20 | 1.07 | 0.78 | |||
Non-GAAP net income per share, diluted | $ 1.28 | $ 0.97 | $ 4.13 | $ 3.85 | |||
Adjustment for fully diluted earnings per share | — | (0.11) | (0.47) | (0.52) | |||
Non-GAAP net income per share, fully diluted ** | $ 1.28 | $ 0.86 | $ 3.66 | $ 3.33 |
* Non-GAAP financial information is adjusted for an assumed provision for income taxes based on our long-term projected tax rate of |
** Fully diluted non-GAAP net income per share is calculated based upon 84.6 million and 84.1 million of fully diluted weighted-average shares of outstanding common stock for the three and twelve months ended January 31, 2025, respectively, and 82.9 million and 82.4 million of fully diluted weighted-average shares of outstanding common stock for the three and twelve months ended January 31, 2024, respectively. |
The following table presents a reconciliation of free cash flow to net cash provided by operating activities, the most | |||||||
Three Months Ended January 31, | Years Ended January 31, | ||||||
2025 | 2024 | 2025 | 2024 | ||||
Net cash provided by operating activities | $ 50,538 | $ 54,627 | $ 150,191 | $ 121,477 | |||
Capital expenditures | (25,979) | (2,738) | (29,550) | (6,074) | |||
Principal payments of finance leases | (1,645) | (1,400) | (6,179) | (5,483) | |||
Capitalized software | — | — | — | — | |||
Free cash flow | $ 22,914 | $ 50,489 | $ 114,462 | $ 109,920 |
MONGODB, INC. | |||||||||||||||||
The following table presents certain customer count information as of the periods indicated: | |||||||||||||||||
1/31/2023 | 4/30/2023 | 7/31/2023 | 10/31/2023 | 1/31/2024 | 4/30/2024 | 7/31/2024 | 10/31/2024 | 1/31/2025 | |||||||||
Total Customers (a) | 40,800+ | 43,100+ | 45,000+ | 46,400+ | 47,800+ | 49,200+ | 50,700+ | 52,600+ | 54,500+ | ||||||||
Direct Sales Customers(b) | 6,400+ | 6,700+ | 6,800+ | 6,900+ | 7,000+ | 7,100+ | 7,300+ | 7,400+ | 7,500+ | ||||||||
MongoDB Atlas Customers | 39,300+ | 41,600+ | 43,500+ | 44,900+ | 46,300+ | 47,700+ | 49,200+ | 51,100+ | 53,100+ | ||||||||
Customers over | 1,651 | 1,761 | 1,855 | 1,972 | 2,052 | 2,137 | 2,189 | 2,314 | 2,396 | ||||||||
(a) Our definition of "customer" excludes users of our free offerings and all affiliated entities are counted as a single customer. |
(b) Direct Sales Customers are customers that were sold through our direct sales force and channel partners. |
(c) Represents the number of customers with |
MONGODB, INC. | |||||||||||||||||
The following table presents certain supplemental revenue information as of the periods indicated: | |||||||||||||||||
1/31/2023 | 4/30/2023 | 7/31/2023 | 10/31/2023 | 1/31/2024 | 4/30/2024 | 7/31/2024 | 10/31/2024 | 1/31/2025 | |||||||||
MongoDB Enterprise | 28 % | 28 % | 26 % | 27 % | 26 % | 25 % | 24 % | 25 % | 23 % | ||||||||
Direct Sales Customers(a) Revenue: % of | 88 % | 88 % | 88 % | 88 % | 88 % | 87 % | 87 % | 88 % | 88 % |
(a) Direct Sales Customers are customers that were sold through our direct sales force and channel partners. |
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SOURCE MongoDB, Inc.