Business
MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2023 Financial Results
Fourth Quarter Fiscal 2023 Total Revenue of $361.3 million, up 36% Year-over-Year Full Year Fiscal 2023 Total Revenue of $1,284.0 million, up 47%
About this update from Mongodb, Inc.
[{"type":"text","content":"Fourth Quarter Fiscal 2023 Total Revenue of $361.3 million, up 36% Year-over-Year\nFull Year Fiscal 2023 Total Revenue of $1,284.0 million, up 47% Year-over-Year\nContinued Strong Customer Growth with Over 40,800 Customers as of January 31, 2023\nMongoDB Atlas Revenue up 50% Year-over-Year; 65% of Total Q4 Revenue\nNEW YORK, March 8, 2023 /PRNewswire/ -- MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the fourth quarter and fiscal year ended January 31, 2023.\n\n \n \n \n \n \n \n\n \n\"MongoDB delivered a strong finish to fiscal 2023, highlighted by 50% Atlas revenue growth and continued strength in winning new customers and workloads. Our continued new business momentum is driven in part by an increasing number of enterprise customers looking to standardize on MongoDB's developer data platform to accelerate innovation while driving greater operational efficiency in their business,\" said Dev Ittycheria, President and Chief Executive Officer of MongoDB.\n\"As we enter fiscal 2024, we are incredibly optimistic about the opportunity ahead for MongoDB as we continue to disrupt one of the largest markets in software. We remain focused on acquiring new customers and workloads while driving greater efficiency across the business, which we are confident will enable us to further capitalize on our long-term opportunity when economic conditions normalize.\"\nFourth Quarter Fiscal 2023 Financial Highlights\nRevenue: Total revenue was $361.3 million for the fourth quarter of fiscal 2023, an increase of 36% year-over-year. Subscription revenue was $348.2 million, an increase of 35% year-over-year, and services revenue was $13.1 million, an increase of 59% year-over-year.Gross Profit: Gross profit was $272.2 million for the fourth quarter of fiscal 2023, representing a 75% gross margin compared to 72% in the year-ago period. Non-GAAP gross profit was $280.8 million, representing a 78% non-GAAP gross margin, compared to a non-GAAP gross margin of 74% in the year-ago period.Loss from Operations: Loss from operations was $72.9 million for the fourth quarter of fiscal 2023, compared to a loss from operations of $78.6 million in the year-ago period. Non-GAAP income from operations was $37.2 million, compared to a non-GAAP income from operations of $13.0 million in the year-ago period.Net Loss: Net loss was $64.4 million, or...