Business
MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2020 Financial Results
Fourth Quarter Fiscal 2020 Total Revenue of $123.5 million, up 44% Year-over-Year Full Year Fiscal 2020 Total Revenue of $421.7 million, up 58% Year-over-Year
About this update from Mongodb, Inc.
[{"type":"text","content":"Fourth Quarter Fiscal 2020 Total Revenue of $123.5 million, up 44% Year-over-Year\n Full Year Fiscal 2020 Total Revenue of $421.7 million, up 58% Year-over-Year\n MongoDB Atlas Revenue 41% of Total Q4 Revenue, up over 80% Year-over-Year\n\n\nNEW YORK, March 17, 2020 /PRNewswire/ -- MongoDB, Inc. (NASDAQ: MDB), the leading, modern general purpose database platform, today announced its financial results for the fourth quarter and fiscal year ended January 31, 2020.\n\n \n \n \n \n \n \n\n \n\"MongoDB delivered excellent fourth quarter results that capped off an outstanding year for the company. Customers in all industries and geographies are embracing our modern data platform as the best way to work with data, driving the demand and adoption of our technology,\" said Dev Ittycheria, President and Chief Executive Officer of MongoDB. \"We're also pleased with the continued success of our global cloud database, Atlas, which surpassed the $200 million annualized revenue run rate in the fourth quarter. Multi-cloud is becoming a strategic imperative for enterprises, and Atlas is uniquely positioned to give our customers the freedom to run anywhere and leverage the benefits of each cloud provider.\"\n\"As we look ahead to fiscal 2021, we strongly believe that the database market is at the very beginning of a profound platform shift towards the cloud over the next decade. We believe that MongoDB is exceptionally well positioned to be one of the key beneficiaries in this platform shift.\"\nSenior Leadership Update\nEliot Horowitz, our co-founder and CTO, has decided, after almost 13 years with MongoDB, to step down as CTO and as a director of the company effective as of our Annual Meeting, July 10, 2020. He will become a technical advisor to MongoDB after leaving his full-time role.\n\"I want to thank Eliot for his technical vision, leadership and immense contributions since co-founding the company,\" said Dev Ittycheria. \"Eliot, together with the other founders of MongoDB, realized 13 years ago that the incumbent database technology was ill suited for the needs of developers building modern applications. Their insight and hard work resulted in the document model, a fundamentally different way to persist data that addresses the rigidity and scalability limitations of relational databases. Today, MongoDB is the world's most popular modern ...