MongoDB Reports 22% Revenue Growth to $549M, Net Loss Improves

MongoDB, Inc. reported significant financial performance for the three months ended April 30, 2025, with total revenue reaching $549.0 million, a 22% increase from $450.6 million in the same period last year. Subscription revenue, which constitutes the bulk of the company's income, rose to $531.5 million, up from $436.9 million, while services revenue also saw a notable increase, climbing to $17.6 million from $13.7 million. Despite this growth, the company recorded a net loss of $37.6 million, an improvement from the $80.6 million loss reported in the prior year, resulting in a net loss per share of $0.46 compared to $1.10.

The company's balance sheet as of April 30, 2025, showed total assets of $3.6 billion, up from $3.4 billion at the end of January 2025. Cash and cash equivalents increased significantly to $657.8 million from $490.1 million, while accounts receivable decreased to $313.2 million from $393.1 million, indicating improved cash collection efforts. MongoDB's total stockholders' equity also rose to $3.0 billion, reflecting a strong capital position bolstered by an increase in additional paid-in capital.

Strategically, MongoDB completed the acquisition of Voyage AI Innovations, Inc. on February 17, 2025, for approximately $160.9 million, aimed at enhancing its AI capabilities. This acquisition added $119.9 million in goodwill and $24.0 million in developed technology intangible assets to the balance sheet. The company also reported a headcount increase to 5,686 employees, up from 5,213 a year earlier, reflecting ongoing investments in talent to support growth.

Operationally, MongoDB's customer base expanded to over 57,100 as of April 30, 2025, compared to 49,200 a year prior. The number of customers utilizing MongoDB Atlas, the company's cloud database service, grew to over 55,800, up from 47,700. The company noted that MongoDB Atlas revenue represented 72% of total revenue for the quarter, up from 70% in the previous year, indicating strong adoption of its cloud offerings. The net annual recurring revenue (ARR) expansion rate was approximately 119%, demonstrating robust growth in existing customer spending.

Looking ahead, MongoDB anticipates continued growth despite macroeconomic challenges, including inflation and rising interest rates, which have impacted customer spending patterns. The company plans to maintain its focus on expanding its customer base and enhancing its product offerings, particularly in the cloud segment. MongoDB's management remains optimistic about the long-term potential of its platform, supported by a growing market for data management solutions projected to reach $191 billion by 2029.