MONGODB Reports Total Revenue of USD 423.8 Million and Net Loss of USD 37.6 Million for Q2 FY 2024
September 2, 2023
🌧️Earnings Overview
MONGODB ($NASDAQ:MDB) reported total revenue of USD 423.8 million and net income of USD -37.6 million for the second quarter of the fiscal year 2024, ending July 31 2023. This translates to a 39.6% increase in revenue but a 68.3% decrease in net income when compared to the same period in the preceding year.
Price History
The stock opened at $382.0 and closed at $381.3, marking a 1.5% increase from its prior closing price of 375.5. MONGODB attributed this increase in losses to higher operating expenses, as well as higher cost of goods sold and research and development costs. Despite this, the company remains committed to pursuing long-term growth opportunities. Overall, MONGODB’s performance in the second quarter of FY 2024 was strong, with total revenue and subscription revenue both showing impressive growth. The company is optimistic about its future prospects and will continue to invest in innovation and customer success initiatives to drive further growth. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Mongodb. MONGODB_Reports_Total_Revenue_of_USD_423.8_Million_and_Net_Loss_of_USD_37.6_Million_for_Q2_FY_2024″>More…
| Total Revenues | Net Income | Net Margin |
| 1.49k | -241.08 | -16.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Mongodb. MONGODB_Reports_Total_Revenue_of_USD_423.8_Million_and_Net_Loss_of_USD_37.6_Million_for_Q2_FY_2024″>More…
| Operations | Investing | Financing |
| 48.55 | -128.34 | 33.9 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Mongodb. MONGODB_Reports_Total_Revenue_of_USD_423.8_Million_and_Net_Loss_of_USD_37.6_Million_for_Q2_FY_2024″>More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.65k | 1.76k | 12.54 |
Key Ratios Snapshot
Some of the financial key ratios for Mongodb are shown below. MONGODB_Reports_Total_Revenue_of_USD_423.8_Million_and_Net_Loss_of_USD_37.6_Million_for_Q2_FY_2024″>More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 43.7% | – | -17.1% |
| FCF Margin | ROE | ROA |
| 3.0% | -18.9% | -6.0% |
Analysis
At GoodWhale, we recently conducted an analysis of MONGODB‘s wellbeing. After carefully considering the financial and business aspects, we determined that MONGODB is a medium risk investment according to our Risk Rating. We detected three risk warnings relating to the balance sheet, cashflow statement and non financial elements that we believe could be of concern to potential investors. If you’d like to know more about these warnings, please register with us and we’ll be happy to provide you with further information. More…
Peers
MongoDB, Inc. is a company that offers a cross-platform document-oriented database program. Classified as a NoSQL database program, MongoDB uses JSON-like documents with schemas. MongoDB is developed by MongoDB Inc. and licensed under the Server Side Public License (SSPL). Megaport Ltd., LiveVox Holdings Inc., and Calix Inc. are all companies that compete with MongoDB, Inc.
– Megaport Ltd ($ASX:MP1)
The company’s market cap is 1.05B as of 2022. The company’s ROE is -14.65%. The company is a provider of cloud connectivity and related services. The company’s services enable customers to connect to a wide range of cloud service providers, including Amazon Web Services, Microsoft Azure, and Google Cloud Platform.
– LiveVox Holdings Inc ($NASDAQ:LVOX)
LiveVox Holdings Inc is a provider of cloud contact center solutions. The company has a market cap of 296.66M as of 2022 and a Return on Equity of -23.68%. The company offers a variety of solutions including customer acquisition, customer care, and collections. LiveVox also provides a range of services such as consulting, implementation, and training.
– Calix Inc ($NYSE:CALX)
Calix Inc is a communications equipment company with a market cap of $3.94 billion as of 2022. The company has a return on equity of 5.3%. Calix Inc produces communications equipment for broadband service providers. The company’s products include access systems, network management software, and subscriber premises equipment.
Summary
MongoDB has reported strong revenue growth of 39.6% for the second quarter of fiscal 2024 compared to the same period in the previous year. However, net income decreased 68.3%, showing that expenses are outpacing revenue growth. Investors should carefully consider MongoDB’s ability to sustain profitability and revenue growth in order to decide whether to invest in the company. Despite the decrease in net income, MongoDB has continued to grow its customer base and develop new products, which may be attractive to potential investors.
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