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MongoDB, Inc. Announces Second Quarter Fiscal 2025 Financial Results

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Second Quarter Fiscal 2025 Total Revenue of $478.1 million, up 13% Year-over-Year

Continued Strong Customer Growth with Over 50,700 Customers as of July 31, 2024

MongoDB Atlas Revenue up 27% Year-over-Year; 71% of Total Q2 Revenue

NEW YORK, Aug. 29, 2024 /PRNewswire/ — MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the second quarter ended July 31, 2024.

“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.

“We remain excited about our opportunity to continue capturing share in one of the largest markets in software. Today, companies of all sizes and across nearly every industry and geography rely on MongoDB to build the software that helps them run and transform their business.  We believe we are incredibly well positioned to help customers incorporate generative AI into their business and modernize their legacy application estate.”

Second Quarter Fiscal 2025 Financial Highlights

Revenue: Total revenue was $478.1 million for the second quarter of fiscal 2025, an increase of 13% year-over-year. Subscription revenue was $463.8 million, an increase of 13% year-over-year, and services revenue was $14.3 million, a decrease of 1% year-over-year.Gross Profit: Gross profit was $349.9 million for the second quarter of fiscal 2025, representing a 73% gross margin compared to 75% in the year-ago period. Non-GAAP gross profit was $360.8 million, representing a 75% non-GAAP gross margin, compared to a non-GAAP gross margin of 78% in the year-ago period.Loss from Operations: Loss from operations was $71.4 million for the second quarter of fiscal 2025, compared to a loss from operations of $49.0 million in the year-ago period. Non-GAAP income from operations was $52.5 million, compared to non-GAAP income from operations of $79.1 million in the year-ago period.Net Loss: Net loss was $54.5 million, or $0.74 per share, based on 73.5 million weighted-average shares outstanding, for the second quarter of fiscal 2025. This compares to a net loss of $37.6 million, or $0.53 per share, in the year-ago period. Non-GAAP net income was $59.0 million, or $0.70 per share, based on 83.8 million diluted weighted-average shares outstanding. This compares to a non-GAAP net income of $76.7 million, or $0.93 per share, in the year-ago period.Cash Flow: As of July 31, 2024, MongoDB had $2.3 billion in cash, cash equivalents, short-term investments and restricted cash. During the three months ended July 31, 2024, MongoDB used $1.4 million of cash in operations, used $1.1 million of cash in capital expenditures and used $1.5 million of cash in principal repayments of finance leases, leading to negative free cash flow of $4.0 million, compared to negative free cash flow of $27.3 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.”

Second Quarter Fiscal 2025 and Recent Business Highlights

The MongoDB AI Applications Program (MAAP) was made generally available to customers in July. MAAP brings together an ecosystem of companies—including tech leaders like AWS, Google Cloud, Microsoft Azure, and Accenture as well as gen AI innovators like Anthropic, Cohere and Fireworks AI—to offer an end-to-end AI technology stack, professional services, and a unified support system that helps customers quickly build and deploy AI applications. Organizations are eager to adopt AI, and MAAP makes it easier for them to confidently move from concept to production.MongoDB Atlas Vector Search was named the most loved and second-most used vector database on the market for the second year in a row in Retool’s 2024 State of AI report. Since introducing Atlas Vector Search last year, MongoDB has quickly become a trusted partner for customers looking to build powerful AI applications.MongoDB continues to be a critical partner to hyperscalers around the world. Most recently, MongoDB was named Amazon Web Services’s (AWS) Technology Partner of the Year in Taiwan, AWS’s Global Software Partner of the Year in ASEAN, and Microsoft’s Global ISV Partner of the Year in Spain. With availability in 118 AWS, Google Cloud, and Microsoft Azure cloud regions globally, AI-focused technology integrations with all three major cloud providers, and a growing presence in the major cloud marketplaces, developers can frictionlessly run MongoDB Atlas-backed applications anywhere.

Third Quarter and Full Year Fiscal 2025 Guidance

Based on information available to management as of today, August 29, 2024, MongoDB is issuing the following financial guidance for the third quarter and full year fiscal 2025.

Third Quarter Fiscal 2025

Full Year Fiscal 2025

Revenue

$493.0 million to $497.0 million

$1.92 billion to $1.93 billion

Non-GAAP Income from Operations

$57.0 million to $60.0 million

$187.0 million to $195.0 million

Non-GAAP Net Income per Share

$0.65 to $0.68

$2.33 to $2.47

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, August 29, 2024, 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 third fiscal quarter and full year fiscal 2025 and underlying assumptions, our ability to capitalize on our market opportunity and deliver strong growth for the foreseeable future as well as the criticality of MongoDB to artificial intelligence application development. 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; 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; 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; 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 April 30, 2024, filed with the SEC on May 31, 2024. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2024, 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; andin 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 repayments 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 repayments 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 by unleashing the power of software and data. Built by developers, for developers, MongoDB’s developer data platform is a database with an integrated set of related services that allow development teams to address the growing requirements for today’s wide variety of modern applications, all in a unified and consistent user experience. MongoDB has tens of thousands of customers in over 100 countries. The MongoDB database platform has been downloaded hundreds of millions of times since 2007, and there have been millions of builders trained through MongoDB University courses. 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.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands of U.S. dollars, except share and per share data)

(unaudited)

July 31, 2024

January 31, 2024

Assets

Current assets:

Cash and cash equivalents  

$        1,290,901

$           802,959

Short-term investments

973,933

1,212,448

Accounts receivable, net of allowance for doubtful accounts of $7,879 and $8,054 as of July 31,
2024 and January 31, 2024, respectively 

311,166

325,610

Deferred commissions  

97,644

92,512

Prepaid expenses and other current assets  

48,403

50,107

Total current assets  

2,722,047

2,483,636

Property and equipment, net  

48,389

53,042

Operating lease right-of-use assets

36,873

37,365

Goodwill  

69,679

69,679

Acquired intangible assets, net

1,133

3,957

Deferred tax assets  

4,765

4,116

Other assets  

248,344

217,847

Total assets  

$        3,131,230

$        2,869,642

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable  

$             10,135

$               9,905

Accrued compensation and benefits  

112,063

112,579

Operating lease liabilities

11,048

9,797

Other accrued liabilities  

100,795

74,831

Deferred revenue  

307,114

357,108

Total current liabilities  

541,155

564,220

Deferred tax liability

1,061

285

Operating lease liabilities

28,877

30,918

Deferred revenue

15,612

20,296

Convertible senior notes, net

1,144,977

1,143,273

Other liabilities

36,501

41,661

Total liabilities  

1,768,183

1,800,653

Stockholders’ equity:

Common stock, par value of $0.001 per share; 1,000,000,000 shares authorized as of July 31, 2024
and January 31, 2024; 73,963,083 shares issued and 73,863,712 shares outstanding as of July 31,
2024; 72,840,692 shares issued and 72,741,321 shares outstanding as of January 31, 2024

73

73

Additional paid-in capital  

3,210,146

2,777,322

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

(1,319)

(1,319)

Accumulated other comprehensive income

901

4,545

Accumulated deficit  

(1,846,754)

(1,711,632)

Total stockholders’ equity

1,363,047

1,068,989

Total liabilities and stockholders’ equity

$        3,131,230

$        2,869,642

 

MONGODB, INC. 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except share and per share data)

(unaudited)

Three Months Ended July 31,

Six Months Ended July 31,

2024

2023

2024

2023

Revenue:

Subscription  

$         463,805

$         409,334

$         900,701

$         764,048

Services  

14,304

14,457

27,969

28,023

Total revenue  

478,109

423,791

928,670

792,071

Cost of revenue:

Subscription(1)

106,816

84,822

207,578

162,995

Services(1)

21,437

20,515

43,372

39,791

Total cost of revenue  

128,253

105,337

250,950

202,786

Gross profit  

349,856

318,454

677,720

589,285

Operating expenses:

Sales and marketing(1)  

221,539

195,934

440,983

378,667

Research and development(1)  

148,967

125,420

295,027

242,237

General and administrative(1)  

50,790

46,103

111,336

85,931

Total operating expenses  

421,296

367,457

847,346

706,835

Loss from operations  

(71,440)

(49,003)

(169,626)

(117,550)

Other income, net  

20,808

14,994

40,982

31,782

Loss before provision for income taxes  

(50,632)

(34,009)

(128,644)

(85,768)

Provision for income taxes  

3,897

3,588

6,478

6,075

Net loss  

$          (54,529)

$          (37,597)

$       (135,122)

$          (91,843)

Net loss per share, basic and diluted  

$              (0.74)

$              (0.53)

$              (1.84)

$              (1.30)

Weighted-average shares used to compute net loss per
     share, basic and diluted

73,543,427

70,874,117

73,269,824

70,531,581

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

Three Months Ended July 31,

Six Months Ended July 31,

2024

2023

2024

2023

Cost of revenue—subscription  

$                7,519

$                6,075

$               13,682

$               11,589

Cost of revenue—services  

3,401

3,342

6,656

6,290

Sales and marketing  

41,040

40,376

80,653

77,982

Research and development  

55,188

48,413

110,361

92,479

General and administrative  

15,275

15,106

31,834

28,927

Total stock‑based compensation expense  

$             122,423

$             113,312

$             243,186

$             217,267

 

MONGODB, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(unaudited)

Three Months Ended July 31,

Six Months Ended July 31,

2024

2023

2024

2023

Cash flows from operating activities

Net loss  

$         (54,529)

$         (37,597)

$       (135,122)

$         (91,843)

Adjustments to reconcile net loss to net cash provided by operating
  activities:

Depreciation and amortization  

2,349

4,173

7,175

8,546

Stock-based compensation  

122,423

113,312

243,186

217,267

Amortization of debt discount and issuance costs

852

847

1,704

1,694

Amortization of finance right-of-use assets

994

993

1,987

1,987

Amortization of operating right-of-use assets

2,592

2,254

5,071

4,479

Deferred income taxes  

19

(189)

26

(377)

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

(5,680)

(12,279)

(13,461)

(25,509)

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

(373)

932

(852)

(1,294)

Unrealized foreign exchange loss

1,089

870

1,204

1,299

Change in operating assets and liabilities:

Accounts receivable, net

(46,027)

(61,206)

13,299

12,158

Prepaid expenses and other current assets  

149

124

1,382

(2,785)

Deferred commissions  

(15,153)

(7,104)

(19,973)

(4,440)

Other long-term assets  

(9,475)

(92)

(9,309)

(138)

Accounts payable  

746

(52)

199

(356)

Accrued liabilities  

22,687

16,090

29,213

3,459

Operating lease liabilities

(3,183)

(2,262)

(5,368)

(4,656)

Deferred revenue  

(16,882)

(44,084)

(54,313)

(91,350)

Other liabilities, non-current

(3,996)

(32)

(3,833)

287

Net cash (used in) provided by operating activities  

(1,398)

(25,302)

62,215

28,428

Cash flows from investing activities

Purchases of property and equipment  

(1,051)

(635)

(1,590)

(1,258)

Investments in non-marketable securities

(5,500)

(750)

(5,500)

(2,056)

Proceeds from maturities of marketable securities  

310,000

475,000

435,000

755,000

Purchases of marketable securities  

(13,029)

(583,810)

(185,633)

(650,599)

Net cash provided by (used in) investing activities  

290,420

(110,195)

242,277

101,087

Cash flows from financing activities

Proceeds from settlement of capped calls

170,589

170,589

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

18,640

19,781

18,640

19,781

Proceeds from exercise of stock options

353

2,037

1,306

3,509

Principal payments of finance leases

(1,546)

(1,361)

(3,639)

(2,703)

Net cash provided by financing activities  

188,036

20,457

186,896

20,587

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

(968)

706

(2,551)

1,415

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

476,090

(114,334)

488,837

151,517

Cash, cash equivalents and restricted cash, beginning of period  

816,390

722,190

803,643

456,339

Cash, cash equivalents and restricted cash, end of period  

$      1,292,480

$         607,856

$      1,292,480

$         607,856

 

MONGODB, INC.

RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES

(in thousands, except share and per share data)

(unaudited)

Three Months Ended July 31,

Six Months Ended July 31,

2024

2023

2024

2023

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

Gross profit on a GAAP basis

$      349,856

$      318,454

$      677,720

$      589,285

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

73 %

75 %

73 %

74 %

Add back:

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

7,650

6,364

14,147

12,051

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

3,281

4,156

6,754

7,541

Non-GAAP gross profit

$      360,787

$      328,974

$      698,621

$      608,877

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

75 %

78 %

75 %

77 %

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

Sales and marketing operating expense on a GAAP basis

$      221,539

$      195,934

$      440,983

$      378,667

Less:

  Expenses associated with stock-based compensation

40,820

47,958

82,974

88,289

  Amortization of intangible assets

760

85

1,520

Non-GAAP sales and marketing operating expense

$      180,719

$      147,216

$      357,924

$      288,858

Research and development operating expense on a GAAP basis

$      148,967

$      125,420

$      295,027

$      242,237

Less:

  Expenses associated with stock-based compensation

56,389

50,822

114,150

96,546

  Amortization of intangible assets

170

1,535

2,738

3,070

Non-GAAP research and development operating expense

$        92,408

$        73,063

$      178,139

$      142,621

General and administrative operating expense on a GAAP basis

$        50,790

$        46,103

$      111,336

$        85,931

Less:

  Expenses associated with stock-based compensation

15,647

16,525

34,092

31,306

Non-GAAP general and administrative operating expense

$        35,143

$        29,578

$        77,244

$        54,625

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

Loss from operations on a GAAP basis

$      (71,440)

$      (49,003)

$    (169,626)

$    (117,550)

  GAAP operating margin (Loss from operations/Total revenue)

(15) %

(12) %

(18) %

(15) %

Add back:

  Expenses associated with stock-based compensation

123,787

125,825

252,117

235,733

  Amortization of intangible assets

170

2,295

2,823

4,590

Non-GAAP income from operations

$        52,517

$        79,117

$        85,314

$      122,773

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

11 %

19 %

9 %

16 %

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

Net loss on a GAAP basis

$      (54,529)

$      (37,597)

$    (135,122)

$      (91,843)

Add back:

  Expenses associated with stock-based compensation

123,787

125,825

252,117

235,733

  Amortization of intangible assets

170

2,295

2,823

4,590

  Amortization of debt issuance costs related to convertible senior
  notes

852

847

1,704

1,694

Less:

  Gains on financial instruments, net

373

(932)

852

1,294

  Income tax effects and adjustments *

10,864

15,590

18,952

24,916

Non-GAAP net income

$        59,043

$        76,712

$      101,718

$      123,964

Reconciliation of GAAP net loss per share, basic and diluted, to
non-GAAP net income per share, basic and diluted:

Net loss per share, basic and diluted, on a GAAP basis

$          (0.74)

$          (0.53)

$          (1.84)

$          (1.30)

Add back:

  Expenses associated with stock-based compensation

1.68

1.78

3.44

3.34

  Amortization of intangible assets

0.03

0.04

0.07

  Amortization of debt issuance costs related to convertible senior
  notes

0.01

0.01

0.02

0.02

Less:

  Gains on financial instruments, net

0.01

(0.01)

0.01

0.02

  Income tax effects and adjustments *

0.15

0.22

0.26

0.35

Non-GAAP net income per share, basic

$            0.79

$            1.08

$            1.39

$            1.76

Adjustment for fully diluted earnings per share

(0.09)

(0.15)

(0.17)

(0.25)

Non-GAAP net income per share, diluted **

$            0.70

$            0.93

$            1.22

$            1.51

* 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.

** Diluted non-GAAP net income per share is calculated based upon 83.8 million and 83.5 million of diluted weighted-average shares of outstanding common stock for the three and six months ended July 31, 2024, respectively, and 82.5 million and 82.1 million of diluted weighted-average shares of outstanding common stock for the three and six months ended July 31, 2023, respectively.

 

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

Three Months Ended July 31,

Six Months Ended July 31,

2024

2023

2024

2023

Net cash (used in) provided by operating activities  

$           (1,398)

$        (25,302)

$           62,215

$           28,428

Capital expenditures  

(1,051)

(635)

(1,590)

(1,258)

Principal repayments of finance leases

(1,546)

(1,361)

(3,639)

(2,703)

Capitalized software 

Free cash flow  

$           (3,995)

$        (27,298)

$           56,986

$           24,467

 

MONGODB, INC.

CUSTOMER COUNT METRICS

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

7/31/2022

10/31/2022

1/31/2023

4/30/2023

7/31/2023

10/31/2023

1/31/2024

4/30/2024

7/31/2024

Total Customers (a)

37,000+

39,100+

40,800+

43,100+

45,000+

46,400+

47,800+

49,200+

50,700+

Direct Sales Customers(b)

5,400+

5,900+

6,400+

6,700+

6,800+

6,900+

7,000+

7,100+

7,300+

MongoDB Atlas Customers

35,500+

37,600+

39,300+

41,600+

43,500+

44,900+

46,300+

47,700+

49,200+

Customers over $100K(c)

1,462

1,545

1,651

1,761

1,855

1,972

2,052

2,137

2,189

(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:

7/31/2022

10/31/2022

1/31/2023

4/30/2023

7/31/2023

10/31/2023

1/31/2024

4/30/2024

7/31/2024

MongoDB Enterprise
     Advanced: % of
     Subscription Revenue

28 %

29 %

28 %

28 %

26 %

27 %

26 %

25 %

24 %

Direct Sales Customers(a)

 Revenue: % of
     Subscription Revenue

86 %

87 %

88 %

88 %

88 %

88 %

88 %

87 %

87 %

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

 

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Schneider Electric India Recognized by Frost & Sullivan as the Indian Company of the Year 2024

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Recognition for boosting customer value with its technologically powered solutions and market-leading position.Schneider Electric India has become a celebrated name in India’s smart metering market, leveraging six decades of operational excellence, industry expertise, and business success.

SAN ANTONIO, Dec. 23, 2024 /CNW/ — Frost & Sullivan recently assessed the metering industry, and based on its analysis, it has recognized Schneider Electric India Pvt Ltd (SEIPL) for the 2024 Indian Company of the Year Award. Schneider Electric India Pvt Ltd (SEIPL) is the Indian arm of Schneider Electric, a global leader in digital transformation of energy management and automation . A recognized name in India’s metering industry, Schneider Electric India draws on over 60 years of expertise and thought leadership in industrial sustainability, universal and software-centric automation, data privacy and security. Serving various sectors, including buildings, infrastructure, industries, data centers, and homes, the company demonstrates its solutions’ scalability, scope, and applicability . It has a robust Indian footprint with 31 factories (including five smart factories) and more than 39,000 employees serving customers in over 500 cities.

Over the years, Schneider Electric India has solidified its leadership position in India’s smart metering market, and the company has a dominant market share in the advanced metering infrastructure (AMI) segment. This superlative performance underscores its ability to deliver innovative and reliable solutions consistently. Schneider Electric’s advanced smart metering devices, equipped with cutting-edge technologies, empower both utilities and consumers. By enabling real-time data transmission and eliminating manual meter readings, these solutions optimize grid management, enhance billing accuracy, and drive operational efficiency—all while empowering consumers to monitor and control their energy consumption, contributing to sustainability and cost savings.

Iqra Azam, best practices research analyst at Frost & Sullivan, observed, “Schneider Electric’s rich history of accomplishments and best practices implementation demonstrates its focus on continuous growth, harmonizing with economic and social sustainability-focused initiatives and fortifying its market leadership.”

Speaking on this recognition, Mr. Deepak Sharma, Zone President, Greater India, and MD & CEO of Schneider Electric India, said, “This recognition underscores our team’s dedication to delivering scalable, cost-effective, and sustainable solutions that set us apart in the smart metering industry. Our strong emphasis on research and development, innovation, and localizing components allows us to meet market demands and provide enhanced value to our customers. Our Mysuru smart metering plant further reinforces our commitment to delivering on this promise.”

The company is strengthening its leadership position in the metering market by actively working to increasing the localization component of its electricity meters sold in India, providing customers with greater value and supporting local economies. By adopting a transparent business approach, Schneider Electric India is building strong, long-lasting customer relationships , providing a clear understanding of its value proposition from the outset.

“Schneider Electric India proves its commitment to sustainability with outstanding initiatives that align with the Indian Government’s approach to a green India. It maintains transparent, reliable, and continuous communication with customers, addressing their unmet needs, evolving demands, and regular queries,” added Neha Tatikota, industry analyst for Energy & Environment at Frost & Sullivan.

Each year, Frost & Sullivan presents a Company of the Year Award to the organization that demonstrates excellence in growth strategy and implementation in its field. The award recognizes a high degree of innovation in products and technologies and the resulting leadership in customer value and market penetration.

The Frost & Sullivan Best Practices Awards recognize companies in various regional and global markets for demonstrating outstanding achievement and superior performance in leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analyses, and extensive secondary research to identify best practices in the industry.

About Frost & Sullivan

For six decades, Frost & Sullivan has been world-renowned for helping investors, corporate leaders, and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion. Contact us: Start the discussion.

Contact:

Tarini Singh
P: +91 9953764546
E: tarini.singh@frost.com

About Schneider Electric

Schneider Electric’s purpose is to create Impact by empowering all to make the most of our energy and resources, bridging progress and sustainability for all. At Schneider, we call this Life Is On.

Our mission is to be the trusted partner in Sustainability and Efficiency.

We are a global industrial technology leader bringing world-leading expertise in electrification, automation, and digitization to smart industries, resilient infrastructure, future-proof data centers, intelligent buildings, and intuitive homes. Anchored by our deep domain expertise, we provide integrated end-to-end lifecycle AI-enabled Industrial IoT solutions with connected products, automation, software, and services, delivering digital twins to enable profitable growth for our customers.

We are a people company with an ecosystem of 150,000 colleagues and more than a million partners operating in over 100 countries to ensure proximity to our customers and stakeholders. We embrace diversity and inclusion in everything we do, guided by our meaningful purpose of a sustainable future for all.

www.se.com  

Follow us on: 

https://twitter.com/SchneiderElechttps://www.facebook.com/SchneiderElectric?brandloc=DISABLEhttps://www.linkedin.com/company/schneider-electrichttps://www.youtube.com/user/SchneiderCorporatehttps://www.instagram.com/schneiderelectric/http://blog.se.com/

Discover the newest perspectives shaping sustainability, electricity 4.0, and next-generation automation on Schneider Electric Insights.

Contact: Binni Rawat
Phone: +91-9999646207
Email ID: binni.rawat@se.com 

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ATFX won “Best Online Trading Company Global 2024” at World Business Outlook Awards 2024

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HONG KONG, Dec. 24, 2024 /PRNewswire/ — ATFX, a leading global forex and CFD broker, has been awarded the “Best Online Trading Company Global 2024” by the World Business Outlook Awards. This accolade highlights ATFX’s unwavering dedication to excellence, innovation, and delivering a superior trading experience for its clients worldwide.

This recognition underscores ATFX’s ability to combine cutting-edge trading technology with a client-centric approach. Offering robust platforms, personalized solutions, and extensive educational resources, ATFX ensures traders of all experience levels can navigate financial markets with confidence. Its global reach, paired with localized support, further solidifies its reputation as a trusted trading partner.

The World Business Outlook Awards celebrate organizations that demonstrate exceptional performance and leadership. By earning this award, ATFX has affirmed its position as an industry leader, committed to innovation and transparency. ATFX’s leadership credited this achievement to the trust of its clients, the dedication of its employees, and the company’s focus on staying ahead of industry trends.

Winning the “Best Online Trading Company Global 2024” reflects ATFX’s mission to redefine online trading standards. Moving forward, the company remains focused on enhancing its offerings, supporting financial literacy, and empowering traders globally with unparalleled tools and services.

About  ATFX

ATFX is a leading global fintech broker with a local presence in 23 locations and licenses from regulatory authorities including the UK’s FCA, Australian ASIC, Cypriot CySEC, UAE’s SCA, Hong Kong SFC and South African FSCA. With a strong commitment to customer satisfaction, innovative technology, and strict regulatory compliance, ATFX provides exceptional trading experience to clients worldwide.

For further information on ATFX, please visit ATFX website https://www.atfx.com.

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THE STATE OF GLOBAL OPTIMISM REVEALED BY LG IN NEW SURVEY

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Company Unveils the Biggest Topics of Global Optimism: Entertainment, AI and Healthcare.

SEOUL, South Korea, Dec. 23, 2024 /PRNewswire/ — According to the latest research by LG Electronics (LG), 48 percent of consumers say they are more optimistic now than they were compared to six months ago.

The survey, conducted across 16 markets, provides extensive data on global optimism, its drivers and the demographics that feel the most optimistic and happy. The global average optimism score is 7.49/10. France, the UK and Australia were revealed to be among the least optimistic countries, scoring 14.5 percent below the average. Conversely, Saudi Arabia (12 percent above), India (10.8 percent above) and the UAE (8.1 percent above) were the most optimistic. Consumers were most optimistic about their personal growth and development (69 percent) and family dynamics (66 percent), but least optimistic about their finances.

Entertainment, including movies, TV, music and art, was identified as the most significant factor driving optimism (60 percent), followed by AI (56 percent). Less than half of the respondents chose social media (48 percent), while international crises such as war generated the least optimism.

LG conducted the survey to support and understand the nature of happiness, aligning with its brand philosophy, Life’s Good. The results are part of LG’s broader effort to assess the potential and influence of optimism globally, reflecting the company’s commitment to enhancing consumer optimism.

The survey also reveals key aspects of generational attitudes towards optimism. Optimism and happiness both decrease with age, although the latter was found to reduce at a slower rate. Interestingly, despite younger age groups averaging higher rates of happiness and optimism, individuals under 18 reported some of the lowest scores. Additionally, 50 percent of Gen Zs expressed that optimism can be harmful, the highest of any age group. This caution may be due to their life stage, as Gen Zs were twice as likely to disagree about having the tools needed to succeed (16 percent) compared to millennials.

The Role of Social Media

Younger age groups are more likely to search online for positive content and like-minded people to improve optimism. 86 percent of consumers say social media impacts their personal lives, more than those who believe it impacts society (67 percent). Gen Zs are also more likely to talk to a therapist, indulge in shopping or take drastic actions to counter negativity, such as deleting a social media account.

In contrast, older groups tend to seek offline comforts, such as spending time outdoors, seeing family or engaging in hobbies. Younger people appear more willing to seek external methods to boost optimism and happiness compared to their older counterparts.

Optimism your feed

“As a brand that is passionate about spreading optimism, we strive every day to be the most customer-focused we can possibly be.” said Kim Hyo-eun, vice president and head of LG’s Brand Management Division. “Consumers want tools to feed their optimism and belief in the future, and providing this is a key part of LG’s mission. That is why we launched our ‘Optimism your feed‘ campaign, which empowered users to pull more optimistic content into their social media feeds. The campaign has been proven to help consumers boost positive feelings, with 78 percent of people saying they felt more optimistic after seeing the campaign versus before exposure.”

The “Optimism your feed” playlist can be found on LG’s global TikTok channel (@lge_lifesgood) and global YouTube channel (@LGGlobal). More details can be found on the campaign page on www.lg.com/lifesgood/.

Survey Methodology
Global survey conducted by GWI 
Fieldwork conducted from August 26 to October 7, 2024 
Age: Between 16 – 64 years old, all income levels 
Sample size: 300 respondents each across 16 markets, except for 70 respondents in KSA

About LG Electronics, Inc.
LG Electronics is a global innovator in technology and consumer electronics with a presence in almost every country and an international workforce of more than 74,000. LG’s four Companies – Home Appliance Solution, Media Entertainment Solution, Vehicle Solution and the Eco Solution – combined for global revenue of over KRW 82 trillion in 2023. LG is a leading manufacturer of consumer and commercial products ranging from TVs, home appliances, air solutions, monitors, automotive components and solutions, and its premium LG SIGNATURE and intelligent LG ThinQ brands are familiar names world over. Visit www.LGnewsroom.com for the latest news.

 

 Media Contacts:

LG Electronics, Inc.

LG Electronics, Inc.

Lea Lee 

Jenny Shin

+82 2 3777 3981

+82 2 3777 3692

lea.lee@lge.com 

jungin.shin@lge.com 

www.LGnewsroom.com  

www.LGnewsroom.com 

Photo – https://mma.prnewswire.com/media/2586173/LG_Electronics.jpg
Logo – https://mma.prnewswire.com/media/2585362/LG_logo.jpg

 

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