Business
MongoDB, Inc. Announces Fourth Quarter and Full Year Fiscal 2024 Financial Results
Fourth Quarter Fiscal 2024 Total Revenue of $458.0 million, up 27% Year-over-Year Full Year Fiscal 2024 Total Revenue of $1.68 billion, up 31% Year-over-Year
About this update from Mongodb, Inc.
[{"type":"text","content":"Fourth Quarter Fiscal 2024 Total Revenue of $458.0 million, up 27% Year-over-Year\nFull Year Fiscal 2024 Total Revenue of $1.68 billion, up 31% Year-over-Year\nContinued Strong Customer Growth with Over 47,800 Customers as of January 31, 2024\nMongoDB Atlas Revenue up 34% Year-over-Year; 68% of Total Q4 Revenue\nNEW YORK, March 7, 2024 /PRNewswire/ -- MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the fourth quarter and fiscal year ended January 31, 2024.\n\n \n \n \n \n \n \n\n \n\"MongoDB finished fiscal 2024 on a strong note, highlighted by 34% Atlas revenue growth and operating margin improvement of nearly five percentage points year-over-year. We continue to see healthy new workload wins as MongoDB's developer data platform increasingly becomes the standard for modern application development,\" said Dev Ittycheria, President and Chief Executive Officer of MongoDB.\n\"As we enter fiscal 2025, we will continue to invest in our key product development and go-to-market initiatives to fully capitalize on our long-term growth opportunity. MongoDB's flexible and scalable platform will be critical for any organization looking to leverage artificial intelligence to build smarter and more impactful applications easier than ever.\"\nFourth Quarter Fiscal 2024 Financial Highlights\nRevenue: Total revenue was $458.0 million for the fourth quarter of fiscal 2024, an increase of 27% year-over-year. Subscription revenue was $444.9 million, an increase of 28% year-over-year, and services revenue was $13.1 million, a decrease of 1% year-over-year.Gross Profit: Gross profit was $343.4 million for the fourth quarter of fiscal 2024, representing a 75% gross margin consistent with the year-ago period. Non-GAAP gross profit was $353.6 million, representing a 77% non-GAAP gross margin, compared to a non-GAAP gross margin of 78% in the year-ago period.Loss from Operations: Loss from operations was $71.0 million for the fourth quarter of fiscal 2024, compared to a loss from operations of $72.9 million in the year-ago period. Non-GAAP income from operations was $69.2 million, compared to a non-GAAP income from operations of $37.2 million in the year-ago period.Net Loss: Net loss was $55.5 million, or $0.77 per share, based on 72.3 million weighted-average shares outstanding, for the fourth quarter of fiscal 2024. This compares ...