Business
MongoDB, Inc. Announces First Quarter Fiscal 2020 Financial Results
NEW YORK, June 5, 2019 /PRNewswire/ -- First Quarter Fiscal 2020 Total Revenue of $89.4 million, up 78% Year-over-Year Continued Strong Growth with Over
About this update from Mongodb, Inc.
[{"type":"text","content":"NEW YORK, June 5, 2019 /PRNewswire/ -- \nFirst Quarter Fiscal 2020 Total Revenue of $89.4 million, up 78% Year-over-Year\nContinued Strong Growth with Over 14,200 Customers at April 30, 2019\nMongoDB Atlas Revenue 35% of Total Q1 Revenue, up over 340% Year-over-Year\nMongoDB, Inc. (NASDAQ: MDB), the leading, modern general purpose database platform, today announced its financial results for the first quarter ended April 30, 2019.\n\"MongoDB delivered excellent first quarter results driven by strength across all products and geographies,\" said Dev Ittycheria, President and Chief Executive Officer of MongoDB. \"Our success is being driven in part by growing customer interest in a modern, general purpose database for use on premise and in hybrid and multi-cloud environments to help users innovate more quickly and efficiently.\"\nIttycheria added, \"The continued success of MongoDB Atlas, our fully managed global, multi-cloud database service, reflects the powerful combination of the move to the cloud and customers' desire for sophisticated managed database offerings. These trends are reshaping the market and we believe will provide a significant growth opportunity for MongoDB for the foreseeable future.\"\nFirst Quarter Fiscal 2020 Financial Highlights\nRevenue: Total revenue was $89.4 million in the first quarter fiscal 2020, an increase of 78% year-over-year. Subscription revenue was $84.0 million, an increase of 82% year-over-year, and services revenue was $5.4 million, an increase of 33% year-over-year. Gross Profit: Gross profit was $61.2 million in the first quarter fiscal 2020, representing a 68% gross margin, compared to 73% in the year-ago period. Non-GAAP gross profit was $62.8 million, representing a 70% non-GAAP gross margin. Loss from Operations: Loss from operations was $30.6 million in the first quarter fiscal 2020, compared to $26.7 million in the year-ago period. Non-GAAP loss from operations was $12.6 million, compared to $18.9 million in the year-ago period. Net Loss: Net loss was $33.2 million, or $0.61 per share, based on 54.7 million weighted-average shares outstanding in the first quarter fiscal 2020. This compares to $26.6 million, or $0.53 per share, based on 50.4 million weighted-average shares outstanding, in the year-ago period. Non-GAAP net loss was $12.1 million or $0.22 per share. This compares to $1...