NASDAQ$MDB
MongoDB Inc · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
MongoDB's first quarter of fiscal 2024 was marked by strong revenue growth, customer acquisition, and advancements in AI capabilities.
MongoDB reported strong first quarter results with a 29% year-over-year increase in total revenue, driven by 40% growth in Atlas revenue. The company added the most net new customers in over two years, highlighting the mission criticality of its developer data platform. MongoDB is confident that its platform is well-positioned to benefit from the next wave of AI applications.
- Total revenue reached $368.3 million, a 29% increase year-over-year.
- MongoDB Atlas revenue grew by 40% year-over-year and accounted for 65% of total Q1 revenue.
- The company achieved continued customer growth, exceeding 43,100 customers.
- MongoDB and Alibaba extended their strategic partnership through 2027, with plans to further integrate MongoDB and Alibaba Cloud services.
Headline financials
Revenue & EPS history
MongoDB · Revenue · Quarterly
$368M
Revenue by segment
MongoDB · $368M total across 2 segments · Q1 2024
- Subscription$355M+29.2%96.3%
- Services$13.6M+24.8%3.7%
Forward guidance
MongoDB provided financial guidance for the second quarter and full year fiscal 2024.
Tailwinds
- Revenue for Q2 is expected to be between $388.0 million and $392.0 million.
- Revenue for the full year is projected to be between $1.522 billion and $1.542 billion.
- Non-GAAP income from operations for Q2 is expected to be between $36.0 million and $39.0 million.
- Non-GAAP income from operations for the full year is projected to be between $110.0 million and $125.0 million.
- Non-GAAP net income per share for Q2 is expected to be between $0.43 and $0.46.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2024
+4.1%
Avg return
Earnings day
+5.6%
Avg return
5 days after
+5.6%
Avg return
30 days after
68%
23 / 34 earnings
Positive
+37.7%
Q2 2026
Best reaction
-29.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +5.8% | -16.8% | -22.1% | |
| Q3 2026 | +5.1% | +24.6% | +27.6% | |
| Q2 2026 | +37.7% | +47.2% | +48.6% | |
| Q1 2026 | +12.7% | +6.7% | +5.8% | |
| Q4 2025 | -26.9% | -25.9% | -41.5% | |
| Q3 2025 | -15.3% | -22.2% | -27.6% | |
| Q2 2025 | +23.5% | +20.3% | +14.5% | |
| Q1 2025 | -29.3% | -30.5% | -25.2% | |
| Q4 2024 | -6.4% | -10.0% | -11.4% | |
| Q3 2024 | -8.4% | -9.7% | -14.3% | |
| Q2 2024 | +4.6% | +5.0% | -7.9% | |
| Q1 2024 | +28.1% | +31.9% | +39.9% | |
| Q4 2023 | -6.3% | -9.8% | -3.5% | |
| Q3 2023 | +19.9% | +28.9% | +15.8% | |
| Q2 2023 | -27.1% | -26.0% | -40.0% | |
| Q1 2023 | +20.9% | +15.8% | +13.4% | |
| Q4 2022 | +19.3% | +13.0% | +53.0% | |
| Q3 2022 | +11.0% | +12.8% | -4.8% | |
| Q2 2022 | +29.0% | +24.5% | +20.6% | |
| Q1 2022 | +9.6% | +11.4% | +25.9% | |
| Q4 2021 | +2.6% | +11.5% | +3.4% | |
| Q3 2021 | -0.2% | +21.2% | +25.4% | |
| Q2 2021 | -11.5% | -14.4% | -6.5% | |
| Q1 2021 | -15.4% | -13.8% | -3.8% | |
| Q4 2020 | +6.8% | +21.8% | +55.6% | |
| Q3 2020 | -1.5% | -2.1% | +6.9% | |
| Q2 2020 | +0.3% | -12.4% | -12.5% | |
| Q1 2020 | +6.9% | +24.7% | +12.8% | |
| Q4 2019 | +24.8% | +31.6% | +36.2% | |
| Q3 2019 | +6.8% | -0.7% | -10.7% | |
| Q2 2019 | +6.8% | +13.1% | -1.2% | |
| Q1 2019 | +0.7% | +9.4% | +5.4% | |
| Q4 2018 | +3.0% | -0.6% | +1.8% | |
| Q3 2018 | +1.8% | +9.5% | +10.2% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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