MongoDB, Inc. reported a revenue increase for the quarter ended July 31, 2024, reaching $478.1 million compared to $423.8 million for the same period in 2023, driven by a rise in subscription revenue from Direct Sales Customers. Despite the revenue growth, the company's net loss widened to $54.5 million from $37.6 million year-on-year, attributed to higher sales and marketing and research and development expenses. Over a six-month period, revenue climbed to $928.7 million from $792.1 million, while net loss increased to $135.1 million from $91.8 million. MongoDB's operating cash flow improved to $62.2 million from $28.4 million. The company's subscription services, including MongoDB Atlas, continue to be the primary revenue source, with Atlas accounting for 71% of total revenue in the recent quarter, up from 63% the previous year...Show More

MongoDB, Inc. reported a revenue increase for the quarter ended July 31, 2024, reaching $478.1 million compared to $423.8 million for the same period in 2023, driven by a rise in subscription revenue from Direct Sales Customers. Despite the revenue growth, the company's net loss widened to $54.5 million from $37.6 million year-on-year, attributed to higher sales and marketing and research and development expenses. Over a six-month period, revenue climbed to $928.7 million from $792.1 million, while net loss increased to $135.1 million from $91.8 million. MongoDB's operating cash flow improved to $62.2 million from $28.4 million. The company's subscription services, including MongoDB Atlas, continue to be the primary revenue source, with Atlas accounting for 71% of total revenue in the recent quarter, up from 63% the previous year. MongoDB's global expansion has led to increased foreign taxes, contributing to a provision for income taxes of $3.9 million for the quarter. The company's liquidity remains strong with $2.3 billion in cash, cash equivalents, and short-term investments as of July 31, 2024. MongoDB's strategic focus remains on growing its customer base, expanding globally, and investing in its platform to capitalize on the growing database software market.