Fri, May 31, 8:42 PM (288 days ago)
For the quarter ended April 30, 2024, MongoDB, Inc. (MDB) reported total revenue of $450.6 million, a 22% increase from $368.3 million in the same period last year, primarily driven by a 23% growth in subscription revenue. However, the company posted a net loss of $80.6 million, up from $54.2 million, due to increased operating expenses, particularly in sales and marketing, and research and development. Gross profit improved to $327.9 million, but gross margin slightly declined to 73%. Key performance metrics include: - Subscription revenue: $436.9 million - Services revenue: $13.7 million - Gross margin: 73% - Operating cash flow: $63.6 million The company experienced slower growth in MongoDB Atlas applications due to adverse macroeconomic conditions. Despite the revenue increase, higher costs in marketing, personnel, and development impacted profitability. MongoDB ended the quarter with $2.1 billion in cash, cash equivalents, and short-term investments, ensuring liquidity for future operations. The company remains focused on expanding its customer base and enhancing its product offerings to drive growth amidst economic uncertainties.