NASDAQ$MDB
MongoDB Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
MongoDB's financial performance was strong in Q2 2024, marked by substantial revenue growth and customer acquisition.
MongoDB announced strong Q2 Fiscal Year 2024 results with a 40% increase in total revenue year-over-year, reaching $423.8 million. The company also saw continued customer growth, exceeding 45,000 customers. MongoDB Atlas revenue grew by 38% year-over-year and contributed 63% of the total Q2 revenue.
- Total revenue reached $423.8 million, a 40% increase year-over-year.
- MongoDB Atlas revenue increased by 38% year-over-year, representing 63% of total Q2 revenue.
- The company has over 45,000 customers as of July 31, 2023.
- Loss from operations improved to $49.0 million, compared to a loss of $114.8 million in the previous year.
Headline financials
Revenue & EPS history
MongoDB · Revenue · Quarterly
$424M
Revenue by segment
MongoDB · $424M total across 2 segments · Q2 2024
- Subscription$409M+40.4%96.6%
- Services$14.5M+19.9%3.4%
Forward guidance
MongoDB is issuing the following financial guidance for the third quarter and full year fiscal 2024. For the third quarter of fiscal year 2024, MongoDB expects revenue between $400.0 million and $404.0 million, and non-GAAP income from operations between $41.0 million and $44.0 million, resulting in non-GAAP net income per share of $0.47 to $0.50. For the full year fiscal 2024, MongoDB expects revenue between $1.596 billion and $1.608 billion and non-GAAP income from operations between $189.0 million and $197.0 million, resulting in non-GAAP net income per share of $2.27 to $2.35.
Tailwinds
- Revenue is expected to be between $400.0 million and $404.0 million.
- Non-GAAP income from operations is projected to be between $41.0 million and $44.0 million.
- Non-GAAP net income per share is anticipated to be $0.47 to $0.50.
- Full year revenue is projected to be between $1.596 billion and $1.608 billion.
- Full year non-GAAP income from operations is expected to be between $189.0 million and $197.0 million.
Headwinds
- Reconciliations of non-GAAP income from operations and non-GAAP net income per share guidance to the most directly comparable GAAP measures are not available without unreasonable efforts on a forward-looking basis.
- The high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures can have a significant, and potentially unpredictable, impact on its future GAAP financial results.
- The measures and effects of stock-based compensation expense specific to equity compensation awards are directly impacted by unpredictable fluctuations in MongoDB’s stock price.
- The projected long-term tax rate may need to be reevaluated periodically for significant events and ongoing analysis of relevant tax law changes.
- Differences in the tax treatment of items excluded from non-GAAP earnings may cause the estimated tax rate on non-GAAP income to differ from the GAAP tax rate and from actual tax liabilities.
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 Q2 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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