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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 reported strong third quarter fiscal 2022 results with total revenue of $226.9 million, up 50% year-over-year. Subscription revenue grew 51% to $217.9 million, and gross profit reached $158.4 million, yielding a 70% gross margin. However, the company reported a net loss of $81.3 million, compared to $72.7 million in the prior year. MongoDB's cash position is robust with $1.8 billion available. The company forecasts fourth quarter revenue between $239.0 million and $242.0 million. New features in MongoDB 5.1 are expected to enhance real-time data analytics.
MongoDB, Inc. (NASDAQ: MDB) announces participation in two virtual conferences: the Barclays Global Technology, Media and Telecommunications Conference on December 7, 2021, at 9:45 AM ET, and the UBS Global TMT Conference on December 8, 2021, at 9:00 AM ET. Presenters Michael Gordon and Serge Tanjga will be featured at both events, with webcasts available live on the company's investor relations page. MongoDB serves over 29,000 customers globally, with more than 200 million downloads of its platform.
MongoDB, Inc. (NASDAQ: MDB) announced a new pay-as-you-go offering in AWS Marketplace for MongoDB Atlas, set to launch in Q1 2022. This initiative simplifies subscription processes for developers and enterprises, allowing them to pay only for resources used without upfront commitments. Additionally, customers can procure MongoDB Professional Services through AWS Marketplace. The collaboration aims to improve the integration of MongoDB Atlas within the AWS ecosystem, enhancing customer experience and facilitating the management of data-rich applications.
MongoDB, Inc. (NASDAQ: MDB) has announced that it will report its third quarter financial results for the fiscal year 2022 on December 6, 2021, after the U.S. markets close. The results will cover the three months ended October 31, 2021. A conference call is scheduled for the same day at 5:00 p.m. ET to discuss the financial results and business outlook. The call will be accessible via the investor relations page on the company's website. MongoDB has over 29,000 customers globally and its database has been downloaded over 200 million times.
MongoDB has joined the LOT Network, a non-profit consortium aimed at protecting members from litigation by patent assertion entities (PAEs). This move enhances MongoDB's commitment to innovation and its proactive measures against costly patent-related lawsuits. With the LOT Network covering over 3.1 million patent assets globally, MongoDB's membership will secure its intellectual property. The company continues to advocate for fair use of intellectual property in the tech industry.
MongoDB has announced the redemption of its $1,875,000 outstanding convertible senior notes due 2024, with a redemption date set for December 3, 2021. The notes can be converted into shares before 5:00 p.m. on December 2. The conversion rate is 14.6738 shares of class A common stock for every $1,000 principal. The company will settle conversions with shares and cash for any fractional amounts. This strategic decision is part of MongoDB's ongoing financial management to optimize its capital structure.
MongoDB (NASDAQ: MDB) has announced participation in two key conferences: the Piper Sandler Global Technology Conference on September 13, 2021, at 10:00 AM ET, and the Citi 2021 Global Technology Conference on September 14, 2021, at 12:10 PM ET. Both presentations will be webcast live. MongoDB is a leading database platform with over 29,000 customers in more than 100 countries and has seen over 200 million downloads of its database platform.
MongoDB, Inc. (NASDAQ: MDB) has appointed Peder Ulander as Chief Marketing Officer. Ulander, previously with AWS, will lead various marketing functions and join the executive leadership team. His expertise in cloud technologies and open-source marketing is expected to enhance MongoDB's position in the database platform sector. Ulander emphasized the need for modern data platforms to improve user experiences, aligning with MongoDB's mission to innovate data management.
MongoDB, Inc. reported strong Q2 fiscal 2022 results with total revenue of $198.7 million, up 44% year-over-year. Subscription revenue also grew by 44% to $191.4 million. However, the company experienced a net loss of $77.1 million, or $1.22 per share, compared to a net loss of $64.5 million in the previous year. MongoDB maintains a cash position of $1.8 billion and projects Q3 revenue between $202 million and $204 million. Key enhancements include MongoDB 5.0 and increased adoption, with over 200 million cumulative downloads.
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