Financial Data and Key Metrics Changes - Total revenue for Q3 fiscal 2026 was $628 million, representing a 19% year-over-year increase and at the high end of guidance [9][19] - Non-GAAP operating income was $123 million, resulting in a 20% operating margin, up from 19% in the previous year [23] - Net income for the quarter was $115 million, or $1.32 per share, compared to $98 million, or $1.16 per share, in the year-ago period [23] Business Line Data and Key Metrics Changes - Atlas revenue grew 30% year-over-year, now accounting for 75% of total revenue, up from 68% a year ago [19][22] - Non-Atlas ARR grew 8% year-over-year, reflecting strong performance in expanding existing customer relationships [21] - The total customer count increased to over 62,500, with 2,600 new customers added in the quarter [22] Market Data and Key Metrics Changes - Strong performance in Atlas was driven by large customers in the U.S. and broad-based strength in EMEA [19] - The net ARR expansion rate increased to 120%, up from 119% in the previous quarter [20] - Atlas had over 60,800 customers at the end of Q3, compared to over 51,100 in the year-ago period [22] Company Strategy and Development Direction - The company aims to become a foundational data platform for the AI era, leveraging its strengths in operational data and emerging AI workloads [6][10] - Strategic investments are being made in engineering, marketing, and sales capacity to drive growth [26][31] - The focus is on deepening customer relationships and advancing innovation to build a generational modern data platform [17][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the continued momentum of Atlas and the overall business, raising financial guidance for Q4 and fiscal 2026 [17][29] - The company is optimistic about the expansion opportunities within existing enterprise customers and the potential impact of AI on future workloads [10][36] - Management noted that while AI applications are still in early stages, there is significant interest and investment from customers in AI-related projects [46][48] Other Important Information - The company ended the quarter with $2.3 billion in cash and cash equivalents, with strong operating cash flow of $144 million [24] - A share repurchase program is in place, with $145 million spent to repurchase shares during the quarter [24][28] - The company plans to provide more visibility into its expectations for Atlas and non-Atlas growth in future guidance [25][30] Q&A Session Summary Question: Initial steps for MongoDB in the AI era - Management highlighted the importance of real-time operational data and the need for modernization in enterprise workloads to support AI applications [35][36] Question: Quality of workloads for fiscal year 2025 - Management noted strength in larger customers and ongoing growth in existing workloads, emphasizing the importance of these dynamics for future growth [40] Question: Customer themes and modernization efforts - Management observed that many enterprises are still in the process of modernizing their application stacks and experimenting with AI applications [45][46] Question: New customer ramp-up for Atlas - Management indicated that engineering improvements have facilitated faster adoption of Atlas by new customers [79] Question: M&A strategy for MongoDB - Management expressed a preference for organic growth but remains open to strategic acquisitions that can enhance the technology platform [82]

Summary of MongoDB FY Conference Call - September 11, 2025 Company Overview - **Company**: MongoDB (NasdaqGM: MDB) - **Event**: FY Conference Call Key Industry Insights - **AI Impact**: The discussion highlighted the dual nature of AI as both a potential threat and an opportunity for software companies. MongoDB views AI as a tailwind rather than a risk, emphasizing its preparedness to support customers in their AI journeys [3][6][8]. - **SaaS Perspective**: The narrative around the death of SaaS due to AI advancements is considered exaggerated. MongoDB believes that AI will enhance SaaS offerings rather than replace them [3][6]. Core Company Strategies - **Product Enhancements**: MongoDB is focusing on improving its product offerings, particularly in AI-related features such as vector search and model embeddings. The acquisition of Voyage AI is seen as a strategic move to enhance their capabilities in this area [7][10][12]. - **Customer Engagement**: The company is witnessing increased interest from larger customers in AI applications, although current growth driven by AI is still limited. The expectation is that as AI challenges are addressed, adoption will increase [7][16][31]. Financial Insights - **Voyage AI Acquisition**: The acquisition is primarily product-driven, with a focus on enhancing the embedding model capabilities. Current revenue from Voyage is small, but monetization strategies include usage-based pricing and integration with MongoDB Atlas [11][12]. - **Atlas Growth**: MongoDB's Atlas business has grown significantly, from less than $10 million to a $1.7 billion ARR. The company sees substantial growth potential in this area, particularly with the integration of AI and modernization of applications [37][38]. Competitive Landscape - **PostgreSQL Migration**: There is a noted trend of enterprises migrating from PostgreSQL to MongoDB due to performance limitations in handling complex data models. Examples include a bank and an EV company that faced scalability issues with PostgreSQL [22][24][26]. - **Open Source Alternatives**: The company acknowledges the competitive pressure from open-source solutions but emphasizes its advantages in handling unstructured data and flexibility in application development [21][27]. Future Outlook - **AI as a Growth Driver**: While AI is not currently a major growth driver, MongoDB anticipates it will become increasingly important as customers seek to leverage their private data with AI applications [31][38]. - **Internal AI Utilization**: MongoDB is exploring AI tools to enhance internal productivity, particularly in customer support and forecasting, indicating a focus on leveraging AI for operational efficiency [43][45]. Additional Considerations - **Energy and Talent**: The discussion touched on the importance of energy infrastructure to support AI advancements and the need for skilled talent in the tech industry to drive innovation [47][48]. - **Incremental Investment Strategy**: MongoDB plans to invest incrementally in its growth strategy, focusing on driving revenue while managing operating expenses effectively [39][40]. This summary encapsulates the key points discussed during the MongoDB FY Conference Call, highlighting the company's strategic focus on AI, product enhancements, and market positioning against competitors.