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MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2025 Financial Results

Fourth Quarter Fiscal 2025 Total Revenue of $548.4 million, up 20% Year-over-Year

Full Year Fiscal 2025 Total Revenue of $2.01 billion, up 19% Year-over-Year

Continued Strong Customer Growth with Over 54,500 Customers as of January 31, 2025

MongoDB Atlas Revenue up 24% Year-over-Year; 71% of Total Q4 Revenue

NEW YORK , March 5, 2025 /PRNewswire/ -- MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the fourth quarter and fiscal year ended January 31, 2025.

"MongoDB delivered a strong end to fiscal 2025 with 24% Atlas revenue growth and significant margin expansion. Atlas consumption in the quarter was better than expected and we continue to see good performance in new workload wins due to the flexibility, scalability and performance of the MongoDB platform. In fiscal year 2026 we expect to see stable consumption growth in Atlas, our main growth driver," said Dev Ittycheria, President and Chief Executive Officer of MongoDB.

"Looking ahead, we remain incredibly excited about our long-term growth opportunity. MongoDB removes the constraints of legacy databases, enabling businesses to innovate at AI speed with our flexible document model and seamless scalability. Following the Voyage AI acquisition, we combine real-time data, sophisticated embedding and retrieval models and semantic search directly in the database, simplifying the development of trustworthy AI-powered apps."

Fourth Quarter Fiscal 2025 Financial Highlights

  • Revenue: Total revenue was $548.4 million for the fourth quarter of fiscal 2025, an increase of 20% year-over-year. Subscription revenue was $531.0 million, an increase of 19% year-over-year, and services revenue was $17.4 million, an increase of 34% year-over-year.
  • Gross Profit: Gross profit was $399.4 million for the fourth quarter of fiscal 2025, representing a 73% gross margin compared to 75% in the year-ago period. Non-GAAP gross profit was $411.7 million, representing a 75% non-GAAP gross margin, compared to a non-GAAP gross margin of 77% in the year-ago period.
  • Loss from Operations: Loss from operations was $18.6 million for the fourth quarter of fiscal 2025, compared to a loss from operations of $71.0 million in the year-ago period. Non-GAAP income from operations was $112.5 million, compared to non-GAAP income from operations of $69.2 million in the year-ago period.
  • Net Income (Loss): Net income was $15.8 million, or $0.20 per share, based on 77.6 million weighted-average shares outstanding, for the fourth quarter of fiscal 2025. This compares to a net loss of $55.5 million, or $0.77 per share, in the year-ago period. Non-GAAP net income was $108.4 million, or $1.28 per share, based on 84.6 million fully diluted weighted-average shares outstanding. This compares to a non-GAAP net income of $71.1 million, or $0.86 per share, in the year-ago period.
  • Cash Flow: As of January 31, 2025, MongoDB had $2.3 billion in cash, cash equivalents, short-term investments and restricted cash. During the three months ended January 31, 2025, MongoDB generated $50.5 million of cash from operations, compared to $54.6 million of cash from operations in the year-ago period. MongoDB used $26.0 million of cash in capital expenditures and used $1.6 million of cash in principal payments of finance leases, leading to free cash flow of $22.9 million, compared to free cash flow of $50.5 million in the year-ago period.

Full Year Fiscal 2025 Financial Highlights

  • Revenue: Total revenue was $2.01 billion for the full year fiscal 2025, an increase of 19% year-over-year. Subscription revenue was $1.94 billion, an increase of 19% year-over-year, and services revenue was $62.6 million, an increase of 12% year-over-year.
  • Gross Profit: Gross profit was $1.47 billion for the full year fiscal 2025, representing a 73% gross margin compared to 75% in the year-ago period. Non-GAAP gross profit was $1.52 billion, representing a 76% non-GAAP gross margin, compared to a non-GAAP gross margin of 77% in the year-ago period.
  • Loss from Operations: Loss from operations was $216.1 million for the full year fiscal 2025, compared to a loss from operations of $233.7 million in the year-ago period. Non-GAAP income from operations was $299.3 million, compared to a non-GAAP income from operations of $270.4 million in the year-ago period.
  • Net Loss: Net loss was $129.1 million, or $1.73 per share, based on 74.6 million weighted-average shares outstanding, for the full year fiscal 2025. This compares to a net loss of $176.6 million, or $2.48 per share in the year-ago period. Non-GAAP net income was $308.2 million, or $3.66 per share based on 84.1 million fully diluted weighted-average shares outstanding. This compares to a non-GAAP net income of $274.2 million, or $3.33 per share, in the year-ago period.
  • Cash Flow: During the year ended January 31, 2025, MongoDB generated $150.2 million of cash from operations, compared to $121.5 million of cash from operations in the year-ago period. MongoDB used $29.6 million of cash in capital expenditures and used $6.2 million of cash in principal payments of finance leases, leading to free cash flow of $114.5 million, compared to free cash flow of $109.9 million in the year-ago period.

A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures."

Fourth Quarter Fiscal 2025 and Recent Business Highlights

  • MongoDB acquired Voyage AI, a pioneer in state-of-the-art embedding and reranking models that power next-generation AI applications. Integrating Voyage AI's technology with MongoDB will enable organizations to easily build trustworthy, AI-powered applications by offering highly accurate and relevant information retrieval deeply integrated with operational data.
  • MongoDB completed the redemption of 2026 Convertible Notes, eliminating all debt from the balance sheet. Additionally, in conjunction with the acquisition of Voyage, MongoDB is announcing a stock buyback program of $200 million, to offset the dilutive impact of the acquisition consideration.
  • For the third consecutive year, MongoDB was named a Leader in the 2024 Gartner® Magic Quadrant™ for Cloud Database Management Systems. Gartner evaluated 20 vendors based on Ability to Execute and Completeness of Vision.
  • Lombard Odier, a Swiss private bank, partnered with MongoDB to migrate and modernize its legacy banking technology systems on MongoDB with generative AI. The initiative enabled the bank to migrate code 50-60 times quicker and move applications from a legacy relational database to MongoDB 20 times faster than previous migrations.

First Quarter and Full Year Fiscal 2026 Guidance

Based on information available to management as of today, March 5, 2025, MongoDB is issuing the following financial guidance for the first quarter and full year fiscal 2026. Our full year guidance assumes that non-Atlas revenue will decline high-single digits in percentage terms on a year-over-year basis.

First Quarter Fiscal 2026

Full Year Fiscal 2026

Revenue

$524.0 million to $529.0
million

$2.240 billion to $2.280
billion

Non-GAAP Income from
Operations

$54.0 million to $58.0
million

$210.0 million to $230.0
million

Non-GAAP Net Income per
Share

$0.63 to $0.67

$2.44 to $2.62

Reconciliations of non-GAAP income from operations and non-GAAP net income per share guidance to the most directly comparable GAAP measures are not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in MongoDB's stock price. MongoDB expects the variability of the above charges to have a significant, and potentially unpredictable, impact on its future GAAP financial results.

Conference Call Information

MongoDB will host a conference call today, March 5, 2025, at 5:00 p.m. (Eastern Time) to discuss its financial results and business outlook. A live webcast of the call will be available on the "Investor Relations" page of MongoDB's website at https://investors.mongodb.com. To access the call by phone, please go to this link (registration link), and you will be provided with dial in details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at http://investors.mongodb.com.

Forward-Looking Statements

This press release includes certain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning MongoDB's financial guidance for the first fiscal quarter and full year fiscal 2026 and underlying assumptions, our expectations regarding Atlas consumption growth and the benefits of the Voyage AI acquisition. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "project," "will," "would" or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: our customers renewing their subscriptions with us and expanding their usage of software and related services; global political changes; the effects of the ongoing military conflicts between Russia and Ukraine and Israel and Hamas on our business and future operating results; economic downturns and/or the effects of rising interest rates, inflation and volatility in the global economy and financial markets on our business and future operating results; our potential failure to meet publicly announced guidance or other expectations about our business and future operating results; our limited operating history; our history of losses; failure of our platform to satisfy customer demands; the effects of increased competition; our investments in new products and our ability to introduce new features, services or enhancements; social, ethical and security issues relating to the use of new and evolving technologies, such as artificial intelligence, in our offerings or partnerships; our ability to effectively expand our sales and marketing organization; our ability to continue to build and maintain credibility with the developer community; our ability to add new customers or increase sales to our existing customers; our ability to maintain, protect, enforce and enhance our intellectual property; the effects of social, ethical and regulatory issues relating to the use of new and evolving technologies, such as artificial intelligence, in our offerings or partnerships; the growth and expansion of the market for database products and our ability to penetrate that market; our ability to integrate acquired businesses and technologies successfully or achieve the expected benefits of such acquisitions, including the acquisition of Voyage AI; the risk of any unexpected costs or expenses resulting from the acquisition of Voyage AI; the risk of any litigation relating to such acquisition; the risk that such acquisition and the announcement of it could have an adverse effect on our operating results and business generally; our ability to maintain the security of our software and adequately address privacy concerns; our ability to manage our growth effectively and successfully recruit and retain additional highly-qualified personnel; and the price volatility of our common stock. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission ("SEC"), including under the caption "Risk Factors" in our Quarterly Report on Form 10-Q for the quarter ended October 31, 2024, filed with the SEC on December 10, 2024. Additional information will be made available in our Annual Report on Form 10-K for the year ended January 31, 2025, and other filings and reports that we may file from time to time with the SEC. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

Non-GAAP Financial Measures

This press release includes the following financial measures defined as non-GAAP financial measures by the SEC: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share and free cash flow. Non-GAAP gross profit and non-GAAP gross margin exclude expenses associated with stock-based compensation. Non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income and non-GAAP net income per share exclude:

  • expenses associated with stock-based compensation including employer payroll taxes upon the vesting and exercising of stock-based awards and expenses related to stock appreciation rights previously issued to our employees in China;
  • amortization of intangible assets for the acquired technology and acquired customer relationships associated with prior acquisitions; and
  • in the case of non-GAAP net income and non-GAAP net income per share, amortization of the debt issuance costs associated with our convertible senior notes and gains or losses on our financial instruments;
  • additionally, non-GAAP net income and non-GAAP net income per share are adjusted for an assumed provision for income taxes based on an estimated long-term non-GAAP tax rate. The non-GAAP tax rate was calculated utilizing a three-year financial projection that excludes the direct impact of the GAAP to non-GAAP adjustments and considers other factors such as operating structure and existing tax positions in various jurisdictions. We intend to periodically reevaluate the projected long-term tax rate, as necessary, for significant events and our ongoing analysis of relevant tax law changes.

MongoDB uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating MongoDB's ongoing operational performance. MongoDB believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in MongoDB's industry, many of which may present similar non-GAAP financial measures to investors.

Free cash flow represents net cash from/used in operating activities, less capital expenditures, principal payments of finance lease liabilities and capitalized software development costs, if any. MongoDB uses free cash flow to understand and evaluate its liquidity and to generate future operating plans. The exclusion of capital expenditures, principal payments of finance lease liabilities and amounts capitalized for software development facilitates comparisons of MongoDB's liquidity on a period-to-period basis and excludes items that it does not consider to be indicative of its liquidity. MongoDB believes that free cash flow is a measure of liquidity that provides useful information to investors in understanding and evaluating the strength of its liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business in the same manner as MongoDB's management and board of directors.

Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In particular, other companies may report non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP net income, non-GAAP net income per share, free cash flow or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, as presented below. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of MongoDB's website at https://investors.mongodb.com.

About MongoDB

Headquartered in New York, MongoDB's mission is to empower innovators to create, transform, and disrupt industries with software and data. MongoDB's unified, intelligent data platform was built to power the next generation of applications, and MongoDB is the most widely available, globally distributed database on the market. With integrated capabilities for operational data, search, real-time analytics, and AI-powered retrieval, MongoDB helps organizations everywhere move faster, innovate more efficiently, and simplify complex architectures. Millions of developers and more than 50,000 customers across almost every industry—including 70% of the Fortune 100—rely on MongoDB for their most important applications. To learn more, visit mongodb.com.

Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com 

Media Relations
MongoDB
press@mongodb.com 

 

MONGODB, INC. 
 CONSOLIDATED BALANCE SHEETS
 (in thousands of U.S. dollars, except share and per share data)
 (unaudited)



January 31,
2025


January 31,
2024

Assets




Current assets:




Cash and cash equivalents  

$          490,133


$           802,959

Short-term investments

1,846,444


1,212,448

Accounts receivable, net of allowance for doubtful accounts of $8,888 and $8,054 as of
January 31, 2025 and 2024, respectively 

393,099


325,610

Deferred commissions  

112,632


92,512

Prepaid expenses and other current assets  

81,214


50,107

Total current assets  

2,923,522


2,483,636

Property and equipment, net  

46,377


53,042

Operating lease right-of-use assets

34,607


37,365

Goodwill  

69,679


69,679

Intangible assets, net

24,597


3,957

Deferred tax assets  

20,810


4,116

Other assets  

310,701


217,847

Total assets  

$       3,430,293


$        2,869,642

Liabilities and Stockholders' Equity




Current liabilities:




Accounts payable  

$            10,467


$               9,905

Accrued compensation and benefits  

120,354


112,579

Operating lease liabilities

9,126


9,797

Other accrued liabilities  

87,659


74,831

Deferred revenue  

334,381


357,108

Total current liabilities  

561,987


564,220

Deferred tax liability

262


285

Operating lease liabilities

27,374


30,918

Deferred revenue

25,404


20,296

Convertible senior notes, net

—


1,143,273

Other liabilities

33,042


41,661

Total liabilities  

648,069


1,800,653

Stockholders' equity:




Common stock, par value of $0.001 per share; 1,000,000,000 shares authorized as of
  January 31, 2025 and 2024; 80,558,847 shares issued and 80,467,811 shares outstanding
  as of January 31, 2025 and 72,840,692 shares issued and 72,741,321 shares outstanding as of January 31, 2024

78


73

Additional paid-in capital  

4,625,093


2,777,322

Treasury stock, 99,371 shares (repurchased at an average of $13.27 per share) as of
  January 31, 2025 and 2024

(1,319)


(1,319)

Accumulated other comprehensive income (loss)

(924)


4,545

Accumulated deficit  

(1,840,704)


(1,711,632)

Total stockholders' equity

2,782,224


1,068,989

Total liabilities and stockholders' equity

$       3,430,293


$        2,869,642

 

MONGODB, INC. 
CONSOLIDATED STATEMENTS OF OPERATIONS
 (in thousands of U.S. dollars, except share and per share data)
 (unaudited)



Three Months Ended January 31,


Years Ended January 31,


2025


2024


2025


2024

Revenue:








Subscription  

$       530,958


$       444,939


$     1,943,864


$     1,627,326

Services  

17,440


13,063


62,579


55,685

Total revenue  

548,398


458,002


2,006,443


1,683,011

Cost of revenue:








Subscription(1)

122,676


94,284


441,404


345,233

Services(1)

26,339


20,357


93,892


79,252

Total cost of revenue  

149,015


114,641


535,296


424,485

Gross profit  

399,383


343,361


1,471,147


1,258,526

Operating expenses:








Sales and marketing(1)  

212,211


211,116


871,148


782,760

Research and development(1)  

150,400


145,553


596,837


515,940

General and administrative(1)  

55,334


57,658


219,226


193,558

Total operating expenses  

417,945


414,327


1,687,211


1,492,258

Loss from operations  

(18,562)


(70,966)


(216,064)


(233,732)

Other income, net  

22,716


18,880


84,465


70,216

Loss before provision for (benefit from) income taxes  

4,154


(52,086)


(131,599)


(163,516)

Provision for (benefit from) income taxes  

(11,672)


3,374


(2,527)


13,084

Net income (loss)  

$         15,826


$       (55,460)


$      (129,072)


$      (176,600)

Net income (loss) per share:








Basic

$            0.20


$           (0.77)


$           (1.73)


$           (2.48)

Diluted

$            0.19


$           (0.77)


$           (1.73)


$           (2.48)

Weighted-average shares used to compute net income (loss) per share:








Basic

77,631,824


72,349,350


74,555,001


71,248,982

Diluted

84,594,079


72,349,350


74,555,001


71,248,982


(1) Includes stock‑based compensation expense as follows:



Three Months Ended January 31,


Years Ended January 31,


2025


2024


2025


2024

Cost of revenue—subscription  

$                7,982


$                6,070


$               29,548


$               23,677

Cost of revenue—services  

3,766


3,243


13,917


12,733

Sales and marketing  

40,124


41,340


161,317


159,907

Research and development  

58,156


55,689


226,367


198,927

General and administrative  

15,014


17,469


62,791


61,663

Total stock‑based compensation expense  

$             125,042


$             123,811


$             493,940


$             456,907

 

MONGODB, INC. 
 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
 (in thousands of U.S. dollars)
 (unaudited)



Three Months Ended January 31,


Years Ended January 31,


2025


2024


2025


2024

Cash flows from operating activities








Net income (loss)   

$           15,826


$         (55,460)


$       (129,072)


$       (176,600)

Adjustments to reconcile net income (loss) to net cash provided by 
operating activities:








Depreciation and amortization  

2,171


5,682


11,751


18,939

Stock-based compensation  

125,042


123,811


493,940


456,907

Amortization of debt discount and issuance costs

—


850


2,419


3,393

Amortization of finance right-of-use assets

993


994


3,974


3,975

Amortization of operating right-of-use assets

2,948


2,430


11,248


9,211

Deferred income taxes  

(15,995)


(1,002)


(16,794)


(1,574)

Amortization of premium and accretion of discount on short-
term investments, net

(5,942)


(8,151)


(25,059)


(44,556)

Realized and unrealized loss (gain) on financial
instruments, net

253


250


(937)


(1,044)

Unrealized foreign exchange loss (gain)

(2,956)


2,124


(964)


1,802

Change in operating assets and liabilities:








Accounts receivable, net

(57,978)


(53,400)


(69,236)


(41,639)

Prepaid expenses and other current assets  

(24,231)


(12,908)


(24,813)


(12,208)

Deferred commissions  

(30,333)


(24,670)


(69,127)


(41,830)

Other long-term assets  

(12,973)


4


(30,677)


(211)

Accounts payable  

(1,028)


601


541


1,679

Accrued liabilities  

2,760


19,188


25,254


39,502

Operating lease liabilities

(2,931)


(2,889)


(12,076)


(9,878)

Deferred revenue  

54,990


56,313


(16,362)


(82,411)

Other liabilities, non-current

(78)


860


(3,819)


(1,980)

Net cash provided by operating activities

50,538


54,627


150,191


121,477

Cash flows from investing activities








Purchases of property, equipment and other assets

(25,979)


(2,738)


(29,550)


(6,074)

Investments in non-marketable securities

(5,500)


—


(11,250)


(2,056)

Business combinations, net of cash acquired

—


—


—


(15,000)

Proceeds from the sales of marketable securities

44,984


—


44,984


—

Proceeds from maturities of marketable securities  

182,600


255,000


752,600


1,445,000

Purchases of marketable securities  

(442,421)


—


(1,414,224)


(1,233,851)

Net cash provided by (used in) investing activities

(246,316)


252,262


(657,440)


188,019

Cash flows from financing activities








Proceeds from settlement of capped calls and other

(366)


—


170,223


—

Proceeds from exercise of stock options, including early
  exercised stock options

(16,672)


1,998


1,968


6,810

Proceeds from the issuance of common stock under the
  Employee Stock Purchase Plan

34,427


17,133


36,048


36,914

Principal payments of finance leases

(1,645)


(1,400)


(6,179)


(5,483)

Net cash provided by financing activities

15,744


17,731


202,060


38,241

Effect of exchange rate changes on cash, cash equivalents
and restricted cash  

(2,876)


665


(5,701)


(433)

Net increase (decrease) in cash, cash equivalents and
restricted cash

(182,910)


325,285


(310,890)


347,304

Cash, cash equivalents and restricted cash, beginning of
period  

675,663


478,358


803,643


456,339

Cash, cash equivalents and restricted cash, end of period  

$         492,753


$         803,643


$         492,753


$         803,643

 

MONGODB, INC. 
 RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
 (in thousands of U.S. dollars, except share and per share data)
 (unaudited)



Three Months Ended January 31,


Years Ended January 31,


2025


2024


2025


2024

Reconciliation of GAAP gross profit to non-GAAP gross
profit:








Gross profit on a GAAP basis

$     399,383


$     343,361


$  1,471,147


$  1,258,526

 Gross margin (Gross profit/Total revenue) on a GAAP basis

73 %


75 %


73 %


75 %

Add back:








 Expenses associated with stock-based compensation: Cost
 of Revenue—Subscription

8,220


6,572


30,365


24,824

 Expenses associated with stock-based compensation: Cost
 of Revenue—Services

4,114


3,694


14,507


14,429

Non-GAAP gross profit

$     411,717


$     353,627


$  1,516,019


$  1,297,779

 Non-GAAP gross margin (Non-GAAP gross profit/Total
 revenue)

75 %


77 %


76 %


77 %









Reconciliation of GAAP operating expenses to non-GAAP
operating expenses:








Sales and marketing operating expense on a GAAP basis

$     212,211


$     211,116


$     871,148


$     782,760

Less:








 Expenses associated with stock-based compensation

41,725


45,713


166,854


176,351

 Amortization of intangible assets

—


85


85


2,365

Non-GAAP sales and marketing operating expense

$     170,486


$     165,318


$     704,209


$     604,044









Research and development operating expense on a GAAP
basis

$     150,400


$     145,553


$     596,837


$     515,940

Less:








 Expenses associated with stock-based compensation

61,091


60,373


234,257


209,052

 Amortization of intangible assets

170


3,085


3,078


8,207

Non-GAAP research and development operating expense

$       89,139


$       82,095


$     359,502


$     298,681









General and administrative operating expense on a GAAP
basis

$       55,334


$       57,658


$     219,226


$     193,558

Less:








 Expenses associated with stock-based compensation

15,725


20,603


66,194


68,932

Non-GAAP general and administrative operating expense

$       39,609


$       37,055


$     153,032


$     124,626









Reconciliation of GAAP loss from operations to non-GAAP
income from operations:








Loss from operations on a GAAP basis

$     (18,562)


$     (70,966)


$   (216,064)


$   (233,732)

 GAAP operating margin (Loss from operations/Total
 revenue)

(3) %


(15) %


(11) %


(14) %

Add back:








 Expenses associated with stock-based compensation

130,874


136,955


512,177


493,588

 Amortization of intangible assets

170


3,170


3,163


10,572

Non-GAAP income from operations

$     112,482


$       69,159


$     299,276


$     270,428

 Non-GAAP operating margin (Non-GAAP Income from
 operations/Total revenue)

21 %


15 %


15 %


16 %









Reconciliation of GAAP net income (loss) to non-GAAP net
income:








Net income (loss) on a GAAP basis

$       15,826


$     (55,460)


$   (129,072)


$   (176,600)

Add back:








 Expenses associated with stock-based compensation

130,874


136,955


512,177


493,588

 Amortization of intangible assets

170


3,170


3,163


10,572

 Amortization of debt issuance costs related to convertible
 senior notes

—


850


2,419


3,393

Less:








 Gains (loss) on financial instruments, net

(253)


—


937


1,294

 Income tax effects and adjustments *

38,762


14,404


79,572


55,465

Non-GAAP net income

$     108,361


$       71,111


$     308,178


$     274,194









Reconciliation of GAAP net income (loss) per share,
diluted, to non-GAAP net income per share, fully diluted:








Net income (loss) per share, diluted, on a GAAP basis

$           0.19


$         (0.77)


$         (1.73)


$         (2.48)

Add back:








 Expenses associated with stock-based compensation

1.55


1.89


6.87


6.93

 Amortization of intangible assets

—


0.04


0.04


0.15

 Amortization of debt issuance costs related to convertible
 senior notes

—


0.01


0.03


0.05

Less:








 Gains (loss) on financial instruments, net

—


—


0.01


0.02

 Income tax effects and adjustments *

0.46


0.20


1.07


0.78

Non-GAAP net income per share, diluted

$           1.28


$           0.97


$           4.13


$           3.85

Adjustment for fully diluted earnings per share

—


(0.11)


(0.47)


(0.52)

Non-GAAP net income per share, fully diluted **

$           1.28


$           0.86


$           3.66


$           3.33


* Non-GAAP financial information is adjusted for an assumed provision for income taxes based on our long-term projected tax rate of 20%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities.

** Fully diluted non-GAAP net income per share is calculated based upon 84.6 million and 84.1 million of fully diluted weighted-average shares of outstanding common stock for the three and twelve months ended January 31, 2025, respectively, and 82.9 million and 82.4 million of fully diluted weighted-average shares of outstanding common stock for the three and twelve months ended January 31, 2024, respectively.

 

The following table presents a reconciliation of free cash flow to net cash provided by operating activities, the most 
directly comparable GAAP measure, for each of the periods indicated (unaudited, in thousands):



Three Months Ended January 31,


Years Ended January 31,


2025


2024


2025


2024

Net cash provided by operating activities        

$           50,538


$         54,627


$         150,191


$         121,477

Capital expenditures  

(25,979)


(2,738)


(29,550)


(6,074)

Principal payments of finance leases

(1,645)


(1,400)


(6,179)


(5,483)

Capitalized software 

—


—


—


—

Free cash flow  

$           22,914


$         50,489


$         114,462


$         109,920

 

MONGODB, INC. 
 CUSTOMER COUNT METRICS


The following table presents certain customer count information as of the periods indicated:




1/31/2023


4/30/2023


7/31/2023


10/31/2023


1/31/2024


4/30/2024


7/31/2024


10/31/2024


1/31/2025

Total Customers (a)

40,800+


43,100+


45,000+


46,400+


47,800+


49,200+


50,700+


52,600+


54,500+

Direct Sales Customers(b)

6,400+


6,700+


6,800+


6,900+


7,000+


7,100+


7,300+


7,400+


7,500+

MongoDB Atlas Customers

39,300+


41,600+


43,500+


44,900+


46,300+


47,700+


49,200+


51,100+


53,100+

Customers over $100K(c)

1,651


1,761


1,855


1,972


2,052


2,137


2,189


2,314


2,396



















(a) Our definition of "customer" excludes users of our free offerings and all affiliated entities are counted as a single customer.

(b) Direct Sales Customers are customers that were sold through our direct sales force and channel partners.

(c) Represents the number of customers with $100,000 or greater in annualized recurring revenue ("ARR") and annualized monthly recurring revenue ("MRR"). ARR includes the revenue we expect to receive from our customers over the following 12 months based on contractual commitments and, in the case of Direct Sales Customers of MongoDB Atlas, by annualizing the prior 90 days of their actual consumption of MongoDB Atlas, assuming no increases or reductions in their subscriptions or usage. For all other customers of our self-serve products, we calculate annualized MRR by annualizing the prior 30 days of their actual consumption of such products, assuming no increases or reductions in usage. ARR and annualized MRR exclude professional services.

 

MONGODB, INC. 
 SUPPLEMENTAL REVENUE INFORMATION


The following table presents certain supplemental revenue information as of the periods indicated:




1/31/2023


4/30/2023


7/31/2023


10/31/2023


1/31/2024


4/30/2024


7/31/2024


10/31/2024


1/31/2025

MongoDB Enterprise
     Advanced: % of
     Subscription
     Revenue

28 %


28 %


26 %


27 %


26 %


25 %


24 %


25 %


23 %

Direct Sales Customers(a)

 Revenue: % of
     Subscription
     Revenue

88 %


88 %


88 %


88 %


88 %


87 %


87 %


88 %


88 %


(a) Direct Sales Customers are customers that were sold through our direct sales force and channel partners.

 

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SOURCE MongoDB, Inc.