Mongodb Stock Price, News & Analysis

MongoDB (NASDAQ: MDB) announced a partnership with Lombard Odier, a Swiss private bank, to modernize its banking technology systems using generative AI. The collaboration has significantly accelerated the bank's modernization process, achieving 50-60 times faster code migration and 20 times faster application migration from legacy databases to MongoDB.

The partnership is part of Lombard Odier's GX Program, a seven-year modernization initiative launched in 2020. The bank implemented MongoDB for its portfolio management system (PMS), which manages financial instruments and powers their online banking application 'MyLO'. Through MongoDB's Modernization Factory service, the bank developed customized AI tooling that automated integration testing and code generation, reducing project times from days to hours.

MongoDB (NASDAQ: MDB) has announced its participation in the 27th Annual Needham Growth Conference. Chief Operating Officer and Chief Financial Officer Michael Gordon, along with Senior Vice President of Finance Serge Tanjga, will deliver a virtual presentation on Thursday, January 16, 2025, at 3:45 p.m. Eastern Time.

The presentation will be accessible through a live webcast on the Events page of MongoDB's investor relations website. Interested parties can view the presentation at https://investors.mongodb.com/news-events/events, and a replay will be available for a time after the event.

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.