Q3 2025 MongoDB Inc Earnings Call Transcript
Key Points
- MongoDB Inc (MDB) reported a strong quarter with revenue of $529 million, a 22% year-over-year increase, exceeding the high end of their guidance.
- Atlas revenue grew 26% year over year, representing 68% of total revenue, indicating strong performance in their cloud-based offerings.
- The company ended the quarter with over 52,600 customers, showing continued growth in their customer base.
- MongoDB Inc (MDB) is investing in strategic initiatives such as enterprise channel expansion and AI-driven legacy app modernization, which are expected to drive long-term growth.
- The company is leveraging its technical advantages in AI applications, positioning itself as a key component of the emerging AI tech stack.
- Atlas consumption growth, while slightly better than expected, remains lower on a year-over-year basis, indicating potential challenges in sustaining high growth rates.
- The company anticipates a sequential decline in non-Atlas revenue in Q4 due to the non-recurrence of large multiyear deals that benefited Q3.
- MongoDB Inc (MDB) is reallocating resources from the mid-market to the enterprise channel, which may result in slower direct sales customer growth.
- The introduction of Atlas Flex clusters is expected to negatively impact customer count as low-spending serverless customers may not transition.
- The company is in the early stages of scaling its legacy app modernization capabilities, which may take time to significantly impact growth.
Good day. And thank you for standing by. Welcome to the MongoDB third-quarter fiscal year 2025 conference call. (Operator Instructions)
Please be advised that today's conference is being recorded. I would now like to turn the call over to your speaker for today, Brian Denyeau, please go ahead.
Thank you, Lisa. Good afternoon and thank you all for joining us today to review MongoDB's third-quarter fiscal 2025 financial results, which we announced in our press release issued after the close of the market today. Joining me the call today are Dev Ittycheria, President and CEO of MongoDB; and Michael Gordon, MongoDB's COO and CFO.
During this call, we will make forward-looking statements, including statements related to our market and future growth opportunities, our expectations for the macroeconomic environment in fiscal 2025 and the impact of AI, the benefits of our product platform, our competitive landscape, customer behaviors, our financial guidance, and our planned investments and growth
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