Financial Data and Key Metrics - Revenue for Q4 FY2024 was $458 million, up 27% YoY, exceeding guidance [96] - Atlas revenue grew 34% YoY, representing 68% of total revenue [96][107] - Non-GAAP operating income was $69.2 million, with a 15% operating margin, up from 10% in the prior year [74] - Net income for Q4 was $71.1 million, or $0.86 per share, compared to $46.4 million, or $0.57 per share, in the year-ago period [91] - Free cash flow for FY2024 was $109.9 million, compared to negative $24.7 million in FY2023 [109] Business Line Data and Key Metrics - Atlas consumption trends remained stable, with less variability in FY2024 compared to FY2023 [5][108] - Enterprise Advanced (EA) exceeded expectations, driven by multi-year deals and strong demand for on-premise modernization [68][96] - Net ARR expansion rate remained above 120%, with 2,052 customers spending over $100,000 annually and 259 customers spending over $1 million annually [69] Market Data and Key Metrics - The company added over 7,000 customers in FY2024, including AI startups and Fortune 500 companies [80] - Atlas customer count reached 46,300, up from 39,300 in the prior year [85] - The company sees stable consumption growth across its portfolio of workloads, driven by underlying application usage [5] Company Strategy and Industry Competition - The company is focused on deepening its product advantage, particularly in AI-enabled workloads, and expanding its sales capacity [99] - MongoDB is well-positioned in the AI stack, operating at the second and third layers to enable customers to build AI applications using proprietary data and LLMs [97] - The company competes effectively against cloud players due to its flexible document architecture, open platform, and developer popularity [98] - MongoDB is investing in relational migration opportunities, leveraging GenAI to reduce the cost and time of rewriting application code [99] Management Commentary on Operating Environment and Future Outlook - The company expects FY2025 to be similar to FY2024, with stable consumption trends and healthy new business acquisition [57] - Management believes AI will be a significant long-term growth driver, but it is still in the early stages, with most enterprises in the experimentation phase [97][20] - The company plans to increase headcount growth to the mid-teens in FY2025, prioritizing sales capacity and product roadmap execution [116] Other Important Information - The company expects Q1 FY2025 revenue to be between $436 million and $440 million, with non-GAAP operating income of $22 million to $25 million [24] - Full-year FY2025 revenue guidance is $1.9 billion to $1.93 billion, with non-GAAP operating income of $186 million to $201 million [24] - The company anticipates a decline in EA revenue due to fewer multi-year deals and a reduction in unused Atlas commitments [86] Summary of Q&A Session Question: Atlas Stream Processing and its impact on guidance - Atlas Stream Processing is in public preview, with GA timing dependent on customer feedback [9] - The product is embedded in FY2025 guidance but is not expected to be a major needle mover in the near term [25] Question: Operating margin guidance and headcount growth - FY2025 operating margin guidance reflects increased hiring and investments in sales capacity, with a 500 basis point improvement over two years [25][116] Question: AI adoption and its impact on MongoDB - AI adoption is still in the early stages, with most enterprises experimenting and prototyping [18][20] - MongoDB is well-positioned for AI workloads due to its flexible schema and real-time data handling capabilities [18] Question: Relational migration and GenAI impact - Relational migration demand is driven by cost savings, scalability, and AI enablement [39] - GenAI is expected to accelerate migration timelines by reducing the cost of rewriting application code [39] Question: Competition with Snowflake and Databricks - MongoDB does not typically compete with Snowflake and Databricks, as they focus on analytical workloads, while MongoDB targets operational workloads [43] Question: Consumption trends and guidance assumptions - Atlas consumption growth is expected to remain stable, in line with FY2024 trends [86] - The company has more confidence in its guidance due to reduced variability and better understanding of seasonality [62]

For the quarter ended January 2024, MongoDB (MDB) reported revenue of $458 million, up 26.8% over the same period last year. EPS came in at $0.86, compared to $0.57 in the year-ago quarter.The reported revenue represents a surprise of +6.02% over the Zacks Consensus Estimate of $431.99 million. With the consensus EPS estimate being $0.46, the EPS surprise was +86.96%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expect ...

MongoDB (MDB) came out with quarterly earnings of $0.86 per share, beating the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.57 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 86.96%. A quarter ago, it was expected that this database platform would post earnings of $0.49 per share when it actually produced earnings of $0.96, delivering a surprise of 95.92%.Over the last four quarters, the company ...

MongoDB (MDB 1.77%) is due to report fourth-quarter earnings after close of trading on Thursday -- and Wall Street is nervous. Analysts following the database are expecting strong sales growth for the quarter -- more than 20% -- but a steep falloff in earnings, which could plunge 17% to $0.47 per share. Or perhaps I should say most analysts are nervous.On Wednesday morning, before earnings even come out, Citigroup analyst Tyler Radke decided to double down on his "buy" rating on MongoDB stock -- and raise h ...

Shares of MongoDB (MDB 1.58%) popped on Wednesday, climbing as much as 4.7%. As of 11:48 a.m. ET, the stock was up 1.7%.The catalyst that drove the database-as-a-service provider higher was a price target increase and bullish commentary from a Wall Street analyst.Some love from Wall StreetCitigroup analyst Tyler Radke boosted his price target on MongoDB stock to $550 while maintaining a buy rating on the shares. For those following along at home, that represents potential gains of 36% compared to Tuesday's ...

Citigroup raised its price target on MongoDB Inc (NASDAQ:MDB) stock to $550 from $515, ahead of the software company's fourth-quarter earnings report, which is due out after the market close tomorrow. Shares are up 2.2% at $413.83 at last check, and are bouncing off the 100-day moving average after a pullback from their Feb. 9, two-year peak of $509.63. In the last 12 months, MDB added 84.8%.The brokerage bunch is bullish, with 22 of the 27 firms in question calling the security a "buy" or better. Echoing t ...

Fourth Quarter Fiscal 2024 Financial Highlights 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. • 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 ...

MongoDB (MDB) is set to report fourth-quarter fiscal 2024 results on Mar 7.For fourth-quarter fiscal 2024, MongoDB expects revenues between $429 million and $433 million. The Zacks Consensus Estimate for revenues is currently pegged at $431.99 million, indicating growth of 19.56% year over year.The non-GAAP income from operations is anticipated in the range of $35-$38 million. Non-GAAP net income per share is estimated between 44 cents and 46 cents. For the quarter, the consensus mark for income per share h ...

The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price. Do they really matter, though?Let's take a look at what these Wall Street heavyweights have to say about MongoDB (MDB) before we discuss the reliability of brokerage recommendations and how to use them to your advantage.MongoDB currently has an average br ...

In the latest trading session, MongoDB (MDB) closed at $447.55, marking a +0.92% move from the previous day. The stock outpaced the S&P 500's daily gain of 0.52%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq added 0.9%.The the stock of database platform has risen by 10.72% in the past month, leading the Computer and Technology sector's gain of 1.9% and the S&P 500's gain of 3.85%.The investment community will be paying close attention to the earnings performance of MongoDB in its upcoming re ...