Q2 2025 MongoDB Inc Earnings Call Transcript
Key Points
- MongoDB Inc (MDB) reported a 13% year-over-year increase in revenue, reaching $478 million, surpassing the high end of their guidance.
- Atlas revenue grew 27% year-over-year, now representing 71% of total revenue.
- The company ended the quarter with over 50,700 customers, showing strong customer growth.
- MongoDB Inc (MDB) generated a non-GAAP operating income of $52.5 million, achieving an 11% non-GAAP operating margin.
- The company launched the MongoDB AI Applications Program (MAAP), which has garnered significant interest and partnerships with major cloud providers and AI pioneers.
- Atlas consumption growth, while modestly ahead of expectations, is still below the original forecast from the beginning of the year.
- Non-Atlas revenue was down 13% year-over-year due to difficult comparisons with the previous year.
- Gross margin declined to 75% from 78% in the year-ago period, primarily due to a lower mix of high-margin upfront license revenue and the growing percentage of Atlas revenue.
- The net AR expansion rate declined to approximately 119%, attributed to a smaller contribution from expanding customers.
- The company anticipates a negative impact on operating cash flow in the back half of the year due to prepayments to cloud providers and capital expenditures for acquiring IPv4 addresses.
Good day and thank you for standing by. Welcome to the MongoDB's second-quarter fiscal year 2025 conference call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would now like to turn the call over to your speaker for today, Brian Denyeau. Please go ahead.
Thank you, Lisa. Good afternoon and thank you for joining us today to review MongoDB's second-quarter fiscal 2025 financial results, which we announced in our press release issued after the close of market today. Joining me on the call today are Dev Ittycheria, President and CEO of MongoDB; and Michael Gordon, MongoDB's COO and CFO.
During this call, we will make forward-looking statements, including statements related to our market and future growth opportunities, our expectations for the macroeconomic environment in fiscal 2025 and the impact of AI, the benefits of our product platform, our competitive landscape, customer behaviors, our financial guidance, and our planned investments and growth opportunities
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