MongoDB(MDB) - 2025 Q2 - Quarterly Results

Financial Performance - Total revenue for Q2 Fiscal 2025 was $478.1 million, representing a 13% year-over-year increase[2] - Total revenue for the three months ended July 31, 2024, was $478,109,000, representing a 12.8% increase from $423,791,000 for the same period in 2023[21] - Subscription revenue increased to $463,805,000 for the three months ended July 31, 2024, up from $409,334,000 in the prior year, marking a growth of 13.3%[21] - Total revenue for the six months ended July 31, 2024, was $1,000,000 thousand, compared to $800,000 thousand for the same period in 2023, indicating a 25% year-over-year growth[25] Profitability - Gross profit was $349.9 million, resulting in a gross margin of 73%, down from 75% in the previous year[3] - Gross profit for the three months ended July 31, 2024, was $349,856,000, compared to $318,454,000 for the same period in 2023, reflecting a gross margin improvement[21] - Non-GAAP gross profit for the three months ended July 31, 2024, was $360,787 thousand, reflecting a 10% increase from $328,974 thousand in the prior year[25] - Non-GAAP income from operations for Q3 is projected to be between $57.0 million and $60.0 million[8] - Non-GAAP net income for the six months ended July 31, 2024, was $101,718, down from $123,964 in the prior year[26] - Non-GAAP net income per share, diluted, for the three months ended July 31, 2024, was $0.70, down from $0.93 in the same period last year[26] Losses - Net loss for Q2 was $54.5 million, or $0.74 per share, compared to a net loss of $37.6 million, or $0.53 per share, in the prior year[4] - The net loss for the three months ended July 31, 2024, was $54,529,000, compared to a net loss of $37,597,000 for the same period in 2023, representing a 45% increase in losses[21] - GAAP net loss for the three months ended July 31, 2024, was $54,529, compared to a loss of $37,597 for the same period in 2023[26] Cash Flow and Liquidity - Cash and cash equivalents totaled $2.3 billion as of July 31, 2024, with negative free cash flow of $4.0 million for the quarter[4] - Cash and cash equivalents increased significantly to $1,290,901,000 as of July 31, 2024, from $802,959,000 as of January 31, 2024, showing a growth of 60.7%[19] - Cash flows from operating activities showed a net cash used of $1,398 thousand for the three months ended July 31, 2024, compared to $25,302 thousand used in the same period last year[24] - Free cash flow for the six months ended July 31, 2024, was $56,986, significantly up from $24,467 in the same period last year[27] - Operating cash flow for the three months ended July 31, 2024, was $(1,398), a significant improvement from $(25,302) in the same period last year[27] Expenses - Total operating expenses for the three months ended July 31, 2024, were $421,296,000, an increase from $367,457,000 in the same period last year, indicating a rise of 14.6%[21] - Research and development operating expenses on a GAAP basis for the three months ended July 31, 2024, were $148,967 thousand, compared to $125,420 thousand in the same period last year, marking an 18.8% increase[25] - Stock-based compensation expense totaled $122,423,000 for the three months ended July 31, 2024, up from $113,312,000 in the same period last year, indicating a rise of 9.4%[22] Customer Growth - Total customers reached 50,700 as of July 31, 2024, an increase from 45,000 a year earlier, representing a growth of approximately 12%[28] - Customers generating over $100K in annual recurring revenue increased to 2,189, up from 1,855 a year ago, reflecting a growth of about 18%[28] - Direct Sales Customers contributed 87% of subscription revenue for the three months ended July 31, 2024, consistent with the previous quarter[30] - MongoDB Enterprise Advanced accounted for 24% of subscription revenue as of July 31, 2024, down from 26% a year earlier[30] Future Guidance - For Q3 Fiscal 2025, revenue guidance is set between $493.0 million and $497.0 million, while full-year guidance is between $1.92 billion and $1.93 billion[8] Product Development - The MongoDB AI Applications Program (MAAP) was launched in July, aimed at facilitating AI application development[5] - MongoDB Atlas Vector Search was recognized as the most loved and second-most used vector database in Retool's 2024 State of AI report[6] - MongoDB continues to expand its partnerships with major cloud providers, enhancing its market presence globally[6]