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MongoDB, Inc. Announces Third Quarter Fiscal 2019 Financial Results
Third Quarter Fiscal 2019 Total Revenue of $65.0 million, up 57% Year-over-Year
Over 8,300 Customers at October 31, 2018, up 69% Year-over-Year
MongoDB Atlas Revenue 22% of Total Q3 Revenue, up over 300% Year-over-Year
New York City, New York - December 4, 2018 - MongoDB, Inc. (NASDAQ: MDB), the leading modern, general purpose database platform, today announced its financial results for the third quarter ended October 31, 2018.
“MongoDB delivered terrific third quarter results that reflect our growing position as the modern database platform of choice,” said Dev Ittycheria, President and Chief Executive Officer of MongoDB. “We are seeing strong demand internationally and from customers in traditionally conservative markets and industries, which reflects our opportunity to continue generating strong growth.”
Ittycheria added, “MongoDB Atlas, which now represents 22% of revenue, had another incredible quarter as customers embraced the ease of use and flexibility of a fully managed modern cloud database service. We also continue to extend the differentiation of our database platform with the recent release of MongoDB Mobile and enhancements to MongoDB Stitch, which enables developers to innovate much faster than they can on alternative platforms.”
Third Quarter Fiscal 2019 Financial Highlights
Revenue: Total revenue was $65.0 million, an increase of 57% year-over-year. Subscription revenue was $60.1 million, an increase of 59% year-over-year, and services revenue was $4.9 million, an increase of 36% year-over-year.
Gross Profit: Gross profit was $47.2 million, representing a 73% gross margin, consistent with the year-ago period. Non-GAAP gross profit was $48.1 million, representing a 74% non-GAAP gross margin.
Loss from Operations: Loss from operations was $29.1 million, compared to $24.1 million in the year-ago period. Non-GAAP loss from operations was $16.8 million, compared to $18.4 million in the year-ago period.
Net Loss: Net loss was $31.3 million, or $0.59 per share, based on 52.7 million weighted-average shares outstanding. This compares to $24.2 million, or $1.39 per share, based on 17.4 million weighted-average shares outstanding, in the year-ago period. Non-GAAP net loss was $16.0 million, or $0.30 per share, based on 52.7 million weighted-average shares outstanding. This compares to $18.5 million, or $0.44 per share, based on 41.7 million non-GAAP weighted-average shares outstanding, in the year-ago period.
Cash Flow: As of October 31, 2018, MongoDB had $522.7 million in cash, cash equivalents, short-term investments and restricted cash. During the three months ended October 31, 2018, MongoDB used $7.6 million of cash in operations and $2.1 million in capital expenditures, leading to negative free cash flow of $9.7 million, compared to negative free cash flow of $10.4 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.”
The following information was filed by Mongodb, Inc. (MDB) on Tuesday, December 4, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.