MongoDB, Inc. reported a significant increase in total revenue for the three months ended April 30, 2024, reaching $450.6 million, up from $368.3 million in the same period in 2023. This growth was primarily attributed to a rise in subscription revenue from Direct Sales Customers. Despite the revenue growth, the company's net loss widened to $80.6 million, compared to $54.2 million in the previous year, due to increased investments in sales, marketing, and research and development. Operating cash flow improved to $63.6 million, up from $53.7 million. MongoDB's subscription services, particularly MongoDB Atlas, continue to be the main revenue driver, with Atlas revenue accounting for 70% of total revenue, up from 65% the previous year. The company's global expansion efforts are reflected in the provision for income taxes...Show More

MongoDB, Inc. reported a significant increase in total revenue for the three months ended April 30, 2024, reaching $450.6 million, up from $368.3 million in the same period in 2023. This growth was primarily attributed to a rise in subscription revenue from Direct Sales Customers. Despite the revenue growth, the company's net loss widened to $80.6 million, compared to $54.2 million in the previous year, due to increased investments in sales, marketing, and research and development. Operating cash flow improved to $63.6 million, up from $53.7 million. MongoDB's subscription services, particularly MongoDB Atlas, continue to be the main revenue driver, with Atlas revenue accounting for 70% of total revenue, up from 65% the previous year. The company's global expansion efforts are reflected in the provision for income taxes, which increased slightly due to foreign taxes. MongoDB is actively monitoring the implementation of the OECD's Pillar Two global minimum tax, which has not yet had a significant impact on the financial statements. The company's focus remains on growing its customer base, which has surpassed 49,200, and expanding its global reach. MongoDB's future plans include continued investment in its platform and sales and marketing efforts to capitalize on the growing database software market, which is projected to reach approximately $170 billion by 2028.