These three cloud software growth stocks are each down 60% or more from their all-time highs. Here's what's driving declines in these once-market darling growth stocks and whether they are worth buying now. MongoDB has built an impressive database platform MongoDB has made a name for itself by being a flexible open-source NoSQL database management platform. NoSQL allows developers to store data in a format other than relational tables, which means less structure. According to MongoDB, its tool features flex ...

MongoDB, Inc. (NASDAQ:MDB) 44th Annual William Blair Growth Stock Conference June 5, 2024 5:40 PM ET Company Participants Michael Gordon - CFO & COO Serge Tanjga - SVP Finance Conference Call Participants Jason Ader - William Blair Jason Ader With that said, I'm Jason Ader with William Blair. Very pleased to have Michael Gordon, COO and CFO of MongoDB; and Serge Tanjga, SVP of Finance. Regulars at this conference now. I appreciate it. Michael Gordon Yes. Great to be here. Thanks for having us. Jason Ader Be ...

The high-growth database play gave disappointing guidance, which is a killer for an expensive stock. Shares of database software up-and-comer MongoDB (MDB -1.05%) cratered 35.4% in May, according to data from S&P Global Market Intelligence. In explaining the slowdown, management pretty much blamed both a cautious macroeconomic environment, as well as perhaps acquiring customers in the prior year that had large volumes but not as much consumption growth potential. CEO Dev Ittycheria also intimated that enter ...

Not every company will benefit from AI. The most important question to ask MongoDB CEO Dev Ittycheria opened the company's earnings report with a statement about the opportunity presented by AI. MongoDB sees AI spurring companies running legacy workloads to modernize those workloads, thus opening the door for MongoDB's database to replace legacy alternatives. "We are confident MongoDB will be a substantial beneficiary of this next wave of application development," Ittycheria said. The big question to ask is ...

MongoDB, Inc. (NASDAQ:MDB) Baird 2024 Global Consumer, Technology & Services Conference June 4, 2024 1:25 PM ET Company Participants Michael Gordon - Chief Financial Officer, Chief Operating Officer Serge Tanjga - Senior Vice President, Finance Conference Call Participants Will Power - Baird Will Power All right. We're going to go ahead and get started. Thanks, everybody, for attending. Good afternoon. My name is Will Power. I cover cloud software for Baird. It's my great pleasure to have MongoDB here. Mong ...

MongoDB, Inc. (NASDAQ:MDB) Baird 2024 Global Consumer, Technology & Services Conference June 4, 2024 1:25 PM ET Company Participants Michael Gordon - Chief Financial Officer, Chief Operating Officer Serge Tanjga - Senior Vice President, Finance Conference Call Participants Will Power - Baird Will Power All right. We're going to go ahead and get started. Thanks, everybody, for attending. Good afternoon. My name is Will Power. I cover cloud software for Baird. It's my great pleasure to have MongoDB here. Mong ...

Revenue and Growth - Subscription revenue accounted for 97% of total revenue for the three months ended April 30, 2024, compared to 96% for the same period in 2023[103] - MongoDB Atlas revenue represented 70% of total revenue for the three months ended April 30, 2024, up from 65% in the same period of 2023[106] - The number of customers increased to over 49,200 as of April 30, 2024, compared to over 43,100 a year earlier, reflecting a growth of approximately 14%[117] - The number of Direct Sales Customers grew to over 7,100, accounting for 87% of subscription revenue for the three months ended April 30, 2024[118] - The annualized recurring revenue (ARR) from customers with $100,000 or greater in ARR increased to 2,137 as of April 30, 2024, compared to 1,761 in 2023[120] - Total revenue for the three months ended April 30, 2024, increased to $450.6 million, up 22% from $368.3 million in the same period of 2023, primarily driven by a $82.2 million increase in subscription revenue[139] - Subscription revenue reached $436.9 million, representing a 23% increase from $354.7 million in the prior year, largely due to a $71.1 million increase from Direct Sales Customers[144] - The net ARR expansion rate has consistently been over 120%, indicating strong growth within existing customers[121] Expenses and Losses - Net loss for the three months ended April 30, 2024, increased to $80.6 million, compared to a net loss of $54.2 million in the same period of 2023, attributed to higher sales and marketing and research and development expenses[139] - Sales and marketing expenses rose to $219.4 million, a 20% increase from $182.7 million in the prior year, driven by higher costs for in-person events and personnel[149] - Research and development expenses increased by 25% to $146.1 million, primarily due to a $22.1 million rise in personnel costs and stock-based compensation[150] - General and administrative expenses surged by 52% to $60.5 million, driven by increased personnel costs and higher professional fees[151] - The net loss for the three months ended April 30, 2024, was $80.6 million, which included non-cash charges of $120.8 million for stock-based compensation[159] Cash Flow and Financial Position - Operating cash flow improved to $63.6 million for the three months ended April 30, 2024, compared to $53.7 million in the same period of 2023[140] - Cash provided by operating activities for the three months ended April 30, 2024, was $63.6 million, an increase from $53.7 million in the same period of 2023[158][161] - Cash used in investing activities during the three months ended April 30, 2024, was $48.1 million, primarily due to purchases of marketable securities[162] - Cash used in financing activities for the three months ended April 30, 2024, was $1.1 million, mainly due to principal repayments of finance leases[164] - As of April 30, 2024, the company had $2.1 billion in cash, cash equivalents, and short-term investments, sufficient to fund operating and capital needs for at least the next 12 months[155] - The company had cash, cash equivalents, restricted cash, and short-term investments totaling $2.1 billion as of April 30, 2024[171] - The company may require additional capital resources to execute strategic initiatives and may seek additional equity or debt financing in the future[157] Market and Economic Environment - The worldwide database software market is projected to grow from $93 billion in 2023 to approximately $170 billion in 2028, representing a 13% compound annual growth rate[110] - The macroeconomic environment has negatively impacted growth rates for existing MongoDB Atlas applications, with expectations of continued headwinds for the remainder of the year[113] - The company anticipates experiencing seasonal fluctuations in revenue and operating results, particularly with respect to multi-year contracts and MongoDB Atlas revenue[165] Internal Controls and Compliance - The management evaluated the effectiveness of disclosure controls and procedures as of April 30, 2024, concluding they were effective at the reasonable assurance level[176] - No changes in internal control over financial reporting were identified during the three months ended April 30, 2024, that materially affected internal control[177] - Management acknowledges inherent limitations in the effectiveness of controls, which may not prevent all errors or fraud[178]

MongoDB (MDB) came out with quarterly earnings of $0.51 per share, beating the Zacks Consensus Estimate of $0.38 per share. This compares to earnings of $0.56 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of 34.21%. A quarter ago, it was expected that this database platform would post earnings of $0.46 per share when it actually produced earnings of $0.86, delivering a surprise of 86.96%. Over the last four quarters, the compan ...

MongoDB stock sank as much as 25% in extended trading on Thursday after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year. Here's how the company did, compared to the LSEG consensus: Earnings per share: 51 cents adjusted vs. 40 cents expected Revenue: $450.6 million vs. $439.7 million expected MongoDB's revenue grew 22% year over year in the fiscal first quarter, which ended on April 30, according to a statement. Growth slowed for the third c ...

Exhibit 99.1 MongoDB, Inc. Announces First Quarter Fiscal 2025 Financial Results First Quarter Fiscal 2025 Total Revenue of $450.6 million, up 22% Year-over-Year Continued Strong Customer Growth with Over 49,200 Customers as of April 30, 2024 MongoDB Atlas Revenue up 32% Year-over-Year; 70% of Total Q1 Revenue First Quarter Fiscal 2025 Financial Highlights A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure has been provided in the financial statement tables included at th ...