MongoDB, Inc.

MongoDB, Inc. delivered a solid result and managed an all-around beat in the last quarter, showcasing a remarkable $433 million in revenue, a notable 30% YoY surge, and surpassing the upper limits of projected guidance. The company achieved an 18% non-GAAP operating margin, generating $79 million in non-GAAP operating income. The customer base expanded to over 46,400, indicating another quarter of substantial growth. During the quarter, they witnessed a healthy influx of new business, particularly marked by the strong acquisition of new workloads within existing customer portfolios. The Enterprise Advanced segment exceeded expectations, underscoring the appeal of MongoDB’s versatile platform and its ‘run anywhere’ strategy. Addressing the evolving landscape of AI, MongoDB highlighted its partnership with AWS’ CodeWhisperer, facilitating AI-powered coding companion capabilities aligned with MongoDB’s best practices. MongoDB’s initiatives, including the Relational Migrator and the newly introduced Query Converter leveraging Generative AI, exemplify the commitment to facilitating application modernization. The company further launched two new initiatives, MongoDB Atlas for Insurance and Healthcare, to assist businesses in both sectors in improving end-user experiences by enabling them to innovate more quickly and provide modern, data-driven applications.