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 , /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 RelationsBrian DenyeauICR for MongoDB646-277-1251[email protected] Media RelationsMongoDB[email protected] 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 financialinstruments, 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 ofperiod 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-GAAPoperating 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 GAAPbasis $ 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 GAAPbasis $ 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. SOURCE MongoDB, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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

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