On August 29, 2024, MongoDB Inc (MDB, Financial) released its 8-K filing for the second quarter of fiscal 2025, showcasing a robust performance with total revenue of $478.1 million, surpassing the analyst estimate of $464.14 million. However, the company reported a net loss of $54.5 million, or $0.74 per share, which was narrower than the estimated loss of $1.13 per share.
Company Overview
Founded in 2007, MongoDB is a document-oriented database with nearly 33,000 paying customers and well past 1.5 million free users. MongoDB provides both licenses as well as subscriptions as a service for its NoSQL database. MongoDB's database is compatible with all major programming languages and is capable of being deployed for a variety of use cases.
Performance and Challenges
MongoDB Inc (MDB, Financial) reported a 13% year-over-year increase in total revenue, reaching $478.1 million for the second quarter of fiscal 2025. Subscription revenue also grew by 13% year-over-year to $463.8 million, while services revenue saw a slight decline of 1% to $14.3 million. Despite these gains, the company faced challenges with a gross margin decline to 73% from 75% in the previous year, and a loss from operations of $71.4 million, compared to a loss of $49.0 million in the year-ago period.
Financial Achievements
MongoDB's financial achievements are significant in the software industry, particularly in the database sector. The company reported a non-GAAP gross profit of $360.8 million, representing a 75% non-GAAP gross margin. Additionally, MongoDB's Atlas revenue, which now constitutes 71% of total Q2 revenue, grew by 27% year-over-year, highlighting the platform's critical role in modern application development.
Key Financial Metrics
Important metrics from MongoDB's financial statements include:
| Metric | Q2 FY2025 | Q2 FY2024 |
|---|---|---|
| Total Revenue | $478.1 million | $423.8 million |
| Gross Profit | $349.9 million | $318.5 million |
| Net Loss | $54.5 million | $37.6 million |
| Cash and Cash Equivalents | $1.29 billion | $802.9 million |
Commentary and Analysis
"MongoDB delivered healthy second quarter results, highlighted by strong new workload acquisition and better-than-expected Atlas consumption trends. Our continued success in winning new workloads demonstrates the critical role MongoDB’s platform plays in modern application development," said Dev Ittycheria, President and Chief Executive Officer of MongoDB.
MongoDB's performance underscores its strategic importance in the software industry, particularly in the realm of database management and AI applications. The company's recent initiatives, such as the MongoDB AI Applications Program (MAAP) and the success of MongoDB Atlas Vector Search, further solidify its position as a leader in the market.
Future Outlook
Looking ahead, MongoDB has issued guidance for the third quarter and full year fiscal 2025. The company expects Q3 revenue to be between $493.0 million and $497.0 million, and full-year revenue to range from $1.92 billion to $1.93 billion. Non-GAAP income from operations is projected to be between $57.0 million and $60.0 million for Q3, and between $187.0 million and $195.0 million for the full year.
For more detailed insights and the full financial report, visit the 8-K filing.
Explore the complete 8-K earnings release (here) from MongoDB Inc for further details.
