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MongoDB(MDB) - 2025 Q4 - Annual Report
MDBMongoDB(MDB)2025-03-20 22:06
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Revenue Growth - The company achieved an annual recurring revenue (ARR) expansion rate of 118% in the fourth quarter[56]. - Total revenue for the year ended January 31, 2025, reached 2,006.4million,upfrom2,006.4 million, up from 1,683.0 million in 2024, indicating a year-over-year increase of about 19.2%[381]. - Subscription revenue for the year ended January 31, 2025, was 1,943.9million,anincreasefrom1,943.9 million, an increase from 1,627.3 million in 2024, representing a growth of approximately 19.4%[374]. - MongoDB Atlas-related revenue reached 1,405.2million,up27.21,405.2 million, up 27.2% from 1,105.4 million in the previous year[512]. - Deferred revenue as of January 31, 2025, was 359.8million,downfrom359.8 million, down from 377.4 million in 2024, with approximately 18% of total revenue recognized from deferred revenue[514]. Customer Base and Market Presence - The company has over 54,500 customers across more than 100 countries, with no single customer representing more than 10% of total revenue in fiscal year 2025[72]. - Revenue generated outside of the United States accounted for 46% of total revenue for the fiscal year ended January 31, 2025[58]. - The company plans to continue expanding its international presence and driving platform adoption globally[58]. Employee and Organizational Structure - As of January 31, 2025, the company had 5,558 employees, with 2,819 located outside the United States[58]. - The sales and marketing organization had 2,542 employees as of January 31, 2025, focusing on driving awareness and adoption of the platform[76]. - The research and development organization comprised 1,327 employees as of January 31, 2025, with ongoing investments to enhance existing products and develop new ones[78]. Financial Performance - Gross profit for the year ended January 31, 2025, was 1,471.1million,comparedto1,471.1 million, compared to 1,258.5 million in 2024, reflecting a gross margin improvement[381]. - The net loss for the year ended January 31, 2025, was 129.1million,adecreasefromanetlossof129.1 million, a decrease from a net loss of 176.6 million in 2024, showing an improvement of approximately 26.9%[381]. - Total current assets as of January 31, 2025, were 2,923.5million,anincreasefrom2,923.5 million, an increase from 2,483.6 million in 2024, representing a growth of about 17.8%[379]. - Total liabilities decreased significantly from 1,800.7millionin2024to1,800.7 million in 2024 to 648.1 million in 2025, indicating a reduction of approximately 64.0%[379]. - Operating expenses for the year ended January 31, 2025, totaled 1,687.2million,comparedto1,687.2 million, compared to 1,492.3 million in 2024, marking an increase of approximately 13.1%[381]. Cash and Investments - As of January 31, 2025, the company had cash, cash equivalents, restricted cash, and short-term investments totaling 2.3billion[356].−CashandcashequivalentsasofJanuary31,2025,were2.3 billion[356]. - Cash and cash equivalents as of January 31, 2025, were 490.1 million, down from 803.0millionin2024,adeclineofabout38.9803.0 million in 2024, a decline of about 38.9%[379]. - The company invested 11.3 million in non-marketable securities during the year ended January 31, 2025, compared to 2.1millionin2024[410].−Thecompanyexperiencedanetcashoutflowfrominvestingactivitiesof2.1 million in 2024[410]. - The company experienced a net cash outflow from investing activities of 657.440 million in 2025, compared to a net cash inflow of 188.019millionin2024[390].ResearchandDevelopment−ThecompanyintroducedMongoDBversion8.0in2024,featuringimprovedperformanceandenterprise−gradesecurity[58].−Researchanddevelopmentcostsareexpensedasincurred,primarilyconsistingofpersonnelcosts,whichunderscoresthecompany′scommitmenttoinnovationandproductdevelopment[457].PatentsandIntellectualProperty−Thecompanyhasbeenissued84patentsintheU.S.asofJanuary31,2025,withexpirationdatesrangingfrom2030to2042,andhas47pendingpatentapplications[84].−Thecompanyreliesonacombinationofpatent,copyright,trademark,andtradesecretlawstoprotectitsproprietarytechnology[83].−Thecompanyhas13registeredtrademarksintheU.S.and2pendingtrademarkapplicationsasofJanuary31,2025[84].RevenueRecognitionandAccountingPolicies−TheCompanyrecognizessubscriptionrevenuefromdatabase−as−a−serviceofferings,whichincludestermlicensesandpost−contractcustomersupport[434].−Revenuefrompost−contractcustomersupportisrecognizedratablyoverthecontractduration[441].−TheCompanyrecognizesrevenuewhencontrolofthepromisedgoodsorservicesisobtained,reflectingtheconsiderationexpectedtobereceived[436].−TheCompanyallocatestransactionpricestoperformanceobligationsbasedonrelativestandalonesellingprices[443].Stock−BasedCompensation−Thecompanyrecognizedstock−basedcompensationexpenseonastraight−linebasisovertheemployee′srequisiteserviceperiod,generallyfouryears,indicatingastructuredapproachtoemployeecompensation[462].−Thecompanyreportedasignificantincreaseinstock−basedcompensation,totaling188.019 million in 2024[390]. Research and Development - The company introduced MongoDB version 8.0 in 2024, featuring improved performance and enterprise-grade security[58]. - Research and development costs are expensed as incurred, primarily consisting of personnel costs, which underscores the company's commitment to innovation and product development[457]. Patents and Intellectual Property - The company has been issued 84 patents in the U.S. as of January 31, 2025, with expiration dates ranging from 2030 to 2042, and has 47 pending patent applications[84]. - The company relies on a combination of patent, copyright, trademark, and trade secret laws to protect its proprietary technology[83]. - The company has 13 registered trademarks in the U.S. and 2 pending trademark applications as of January 31, 2025[84]. Revenue Recognition and Accounting Policies - The Company recognizes subscription revenue from database-as-a-service offerings, which includes term licenses and post-contract customer support[434]. - Revenue from post-contract customer support is recognized ratably over the contract duration[441]. - The Company recognizes revenue when control of the promised goods or services is obtained, reflecting the consideration expected to be received[436]. - The Company allocates transaction prices to performance obligations based on relative standalone selling prices[443]. Stock-Based Compensation - The company recognized stock-based compensation expense on a straight-line basis over the employee's requisite service period, generally four years, indicating a structured approach to employee compensation[462]. - The company reported a significant increase in stock-based compensation, totaling 493.940 million in 2025, up from 456.907millionin2024and456.907 million in 2024 and 381.454 million in 2023[390]. Lease and Deferred Costs - Total lease costs for the year ended January 31, 2025, were 28.6million,comparedto28.6 million, compared to 27.2 million in 2024, reflecting a 5.2% increase[496]. - Deferred commissions increased to 363.4millionasofJanuary31,2025,upfrom363.4 million as of January 31, 2025, up from 294.2 million in 2024, with non-current portions at 250.7millionand250.7 million and 201.7 million respectively[519]. - Amortization expense for deferred commissions was 112.6millionfortheyearendedJanuary31,2025,comparedto112.6 million for the year ended January 31, 2025, compared to 99.5 million in 2024 and $79.6 million in 2023, indicating a year-over-year increase[519].