Summary by Moomoo AI
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