MongoDB(MDB)2025-06-04 21:16Revenue and Growth - Subscription revenue accounted for 97% of total revenue for both the three months ended April 30, 2025, and 2024 [108]. - MongoDB Atlas revenue represented 72% of total revenue for the three months ended April 30, 2025, compared to 70% for the same period in 2024 [110]. - The number of customers with $100,000 or greater in annual recurring revenue (ARR) increased to 2,506 as of April 30, 2025, from 2,137 a year earlier [124]. - The net ARR expansion rate was approximately 119% as of April 30, 2025, indicating strong growth from existing customers [125]. - MongoDB had over 57,100 customers across more than 100 countries as of April 30, 2025, up from over 49,200 customers a year prior [121]. - Total revenue for the three months ended April 30, 2025, was $549.0 million, representing a 22% increase from $450.6 million in the same period of 2024 [147]. - Subscription revenue increased by $94.6 million, primarily driven by a $79.2 million increase from Direct Sales Customers [147]. Expenses and Financial Performance - Gross profit for the three months ended April 30, 2025, was $391.0 million, with a gross margin of 71%, down from 73% in 2024 [149][150]. - Research and development expenses rose to $168.8 million, a 16% increase from $146.1 million in the prior year, primarily due to increased personnel costs [152]. - Sales and marketing expenses were $220.9 million, a slight increase of 1% from $219.4 million in 2024, driven by higher personnel costs [151]. - General and administrative expenses decreased by 10% to $54.8 million, primarily due to a release of reserves for value-added tax expenses [154]. - The net loss for the three months ended April 30, 2025, was $37.6 million, compared to a net loss of $80.6 million in the same period of 2024 [144]. - The company expects to continue incurring operating losses and may require additional capital resources to support growth initiatives [159]. Cash Flow and Liquidity - As of April 30, 2025, the company had cash, cash equivalents, and short-term investments totaling $2.5 billion, sufficient to fund operations for at least the next 12 months [157]. - Cash provided by operating activities for the three months ended April 30, 2025, was $109.9 million, an increase from $63.6 million in the same period of 2024, reflecting growth in sales and customer base expansion [163][164]. - Accounts receivable decreased by $79.9 million in Q1 2025, compared to a decrease of $59.3 million in Q1 2024, indicating improved cash collections [163][164]. - Cash provided by investing activities in Q1 2025 was $51.6 million, primarily from maturities of marketable securities, while cash used in investing activities in Q1 2024 was $48.1 million due to purchases of marketable securities [165][166]. - Cash used in financing activities for Q1 2025 was $1.8 million, slightly higher than $1.1 million in Q1 2024, mainly due to principal payments of finance leases [167]. - As of April 30, 2025, the company had cash, cash equivalents, restricted cash, and short-term investments totaling $2.5 billion, reflecting strong liquidity [177]. Market and Strategic Outlook - The worldwide data software market is projected to grow from $106 billion in 2024 to approximately $191 billion in 2029, representing a 13% compound annual growth rate [114]. - MongoDB plans to continue investing in sales and marketing efforts to drive customer acquisition and expand its global reach [121]. - The macroeconomic environment negatively impacted growth rates for existing MongoDB Atlas applications during the three months ended April 30, 2025 [117]. - The company experienced seasonal fluctuations in revenue, particularly with MongoDB Atlas revenue recorded on a consumption basis, which may impact future results [168]. - The company has not entered into derivative or hedging transactions for foreign currency risks but may consider it as international operations grow [178]. - There were no material changes to contractual obligations and commitments during the three months ended April 30, 2025, compared to previous disclosures [170].