Summary by Moomoo AI
On May 30, 2024, MongoDB, Inc. released its financial results for the first quarter of fiscal year 2025, which ended on April 30, 2024. The company reported a total revenue of $450.6 million, marking a 22% increase year-over-year. Subscription revenue contributed $436.9 million, up by 23%, while services revenue saw a modest increase of 1% to $13.7 million. MongoDB's Atlas product revenue grew by 32% and accounted for 70% of the total Q1 revenue. Despite the revenue growth, the company experienced a slower start to the year in terms of Atlas consumption growth and new workload wins, which is expected to impact the rest of the fiscal year. The net loss for the quarter was $80.6 million, or $1.10 per share, compared to a net loss of $54.2 million, or $0.77 per share, in the...Show More