NEW YORK, June 4, 2020 /PRNewswire/ -- MongoDB, Inc.
(NASDAQ: MDB), the leading, modern general purpose database
platform, today announced its financial results for the first
quarter ended April 30, 2020.
"MongoDB's strong first quarter performance in the midst of the
COVID-19 pandemic demonstrates the value of our modern data
platform for the success of our customers," said Dev
Ittycheria, President and Chief Executive Officer of MongoDB. "In
particular, the speed and agility of the MongoDB platform enables
customers to quickly adapt to changing business conditions."
"While the impact from COVID-19 will be longer than we
originally expected at the beginning of this fiscal year, we are
seeing clear signs that the current environment is reinforcing the
long-term trends towards digital transformation and cloud
migration. MongoDB is a clear beneficiary of these trends and we
will continue making investments to fully capitalize on this market
opportunity."
First Quarter Fiscal 2021 Financial Highlights
- Revenue: Total revenue was $130.3
million in the first quarter fiscal 2021, an increase of 46%
year-over-year. Subscription revenue was $124.9 million, an increase of 49%
year-over-year, and services revenue was $5.5 million, an increase of 1%
year-over-year.
- Gross Profit: Gross profit was $92.7 million in the first quarter fiscal 2021,
representing a 71% gross margin, compared to 68% in the year-ago
period. Non-GAAP gross profit was $95.6
million, representing a 73% non-GAAP gross margin.
- Loss from Operations: Loss from operations was
$42.0 million in the first quarter
fiscal 2021, compared to $30.6
million in the year-ago period. Non-GAAP loss from
operations was $7.4 million, compared
to $12.6 million in the year-ago
period.
- Net Loss: Net loss was $54.0
million, or $0.94 per share,
based on 57.6 million weighted-average shares outstanding in the
first quarter fiscal 2021. This compares to $33.2 million, or $0.61 per share, based on 54.7 million
weighted-average shares outstanding, in the year-ago period.
Non-GAAP net loss was $7.3 million or
$0.13 per share. This compares to
$12.1 million or $0.22 per share in the year-ago period.
- Cash Flow: As of April 30,
2020, MongoDB had $977.5
million in cash, cash equivalents, short-term investments
and restricted cash. During the three months ended April 30, 2020, MongoDB used $5.9 million of cash from operations,
$1.5 million in capital expenditures
and $1.1 million in principal
repayments of finance leases, leading to negative free cash flow of
$8.5 million, compared to free cash
flow of $2.8 million in the year-ago
period.
A reconciliation of each Non-GAAP measure to the most
directly comparable GAAP measure has been provided in the financial
statement tables included at the end of this press release. An
explanation of these measures is also included below under the
heading "Non-GAAP Financial Measures."
First Quarter Fiscal 2021 and Recent Business
Highlights
- Voted as the "Most Wanted Database by Developers" by
StackOverflow in their annual developer survey for the 4th year in
a row. In February 2020,
StackOverflow polled nearly 65,000 developers to take the pulse of
the developer community, revealing the top trends, technologies,
and work priorities for software engineers around the world.
- Continued strong traction in the partner ecosystem. We were
named 2019 Google Cloud Technology Partner of the Year for
Marketplace. MongoDB Enterprise Advanced was also added to the Red
Hat Marketplace, an open cloud marketplace that makes it easier to
discover and access Red Hat certified software for container-based
environments in public clouds and on-premises.
- Turned MongoDB World into a free, global, fully digital,
two-day event to be held on June 9th
and 10th. The event will feature product announcements and updates,
a keynote packed with demos, more than 40 customers as well as more
than 100 breakout sessions, live workshops and hands-on tutorials
designed to engage and grow our global community.
Business Outlook
Based on information as of today, June 4,
2020, MongoDB is issuing the following financial guidance
for the second quarter and full year fiscal 2021. Please note that
this guidance reflects our current view of the negative
impact from the COVID-19 pandemic and the macroeconomic
environment. As a reminder, our prior guidance assumed
a normalization of business activity in the second half
of the year which we now believe is unlikely to occur. The
situation regarding COVID-19 is uncertain and changing rapidly and
MongoDB will continue to evaluate its potential impact on its
business.
|
Second Quarter
Fiscal 2021
|
Full Year Fiscal
2021
|
Revenue
|
$125.0 million to
$127.0 million
|
$520.0 million to
$530.0 million
|
Non-GAAP Loss
from
Operations
|
$(24.0) million to
$(22.0)
million
|
$(78.0) million to
$(70.0) million
|
Non-GAAP Net Loss
per
Share
|
$(0.41) to
$(0.38)
|
$(1.34) to
$(1.21)
|
The guidance provided above is forward-looking in nature. Actual
results may differ materially. See the cautionary note regarding
"Forward-Looking Statements" below. Fluctuations in MongoDB's
operating results may be particularly pronounced in the current
economic environment due to the uncertainty caused by, and the
unprecedented nature of, the current COVID-19 pandemic, whose
severity, duration and ultimate impact is difficult to predict at
this time.
Reconciliation of non-GAAP loss from operations and non-GAAP net
loss per share guidance to the most directly comparable GAAP
measures is not available without unreasonable efforts on a
forward-looking basis due to the high variability, complexity and
low visibility with respect to the charges excluded from these
non-GAAP measures; in particular, the measures and effects of
stock-based compensation expense specific to equity compensation
awards that are directly impacted by unpredictable fluctuations in
our stock price. We expect the variability of the above charges to
have a significant, and potentially unpredictable, impact on our
future GAAP financial results.
Conference Call Information
MongoDB will host a conference call today, June 4, 2020, at 5:00 p.m.
(Eastern Time) to discuss its financial results and business
outlook. A live webcast of the call will be available on the
"Investor Relations" page of MongoDB's website at
https://investors.mongodb.com. To access the call by phone, dial
800-289-0438 (domestic) or 323-794-2423 (international). A replay
of this conference call will be available for a limited time at
844-512-2921 (domestic) or 412-317-6671 (international). The replay
conference ID is 1930605. A replay of the webcast will also be
available for a limited time at https://investors.mongodb.com.
About MongoDB
MongoDB is the leading modern, general purpose database
platform, designed to unleash the power of software and data for
developers and the applications they build. Headquartered in
New York, MongoDB has more than
18,400 customers in over 100 countries. The MongoDB database
platform has been downloaded over 110 million times and there have
been more than one million MongoDB University registrations.
Forward-Looking Statements
This press release includes certain "forward-looking statements"
within the meaning of Section 27A of the Securities Act of 1933, as
amended, or the Securities Act, and Section 21E of the Securities
Exchange Act of 1934, as amended, including statements concerning
our financial guidance for the second fiscal quarter and full year
fiscal 2021; the anticipated impact of the COVID-19 pandemic on
market trends and our future results of operations and market
position; our ability to transform the global database industry and
to capitalize on our market opportunity; and our scheduled
MongoDB World Event. These forward-looking statements include, but
are not limited to, plans, objectives, expectations and intentions
and other statements contained in this press release that are not
historical facts and statements identified by words such as
"anticipate," "believe," "continue," "could," "estimate," "expect,"
"intend," "may," "plan," "project," "will," "would" or the negative
or plural of these words or similar expressions or variations.
These forward-looking statements reflect our current views about
our plans, intentions, expectations, strategies and prospects,
which are based on the information currently available to us and on
assumptions we have made. Although we believe that our plans,
intentions, expectations, strategies and prospects as reflected in
or suggested by those forward-looking statements are reasonable, we
can give no assurance that the plans, intentions, expectations or
strategies will be attained or achieved. Furthermore, actual
results may differ materially from those described in the
forward-looking statements and are subject to a variety of
assumptions, uncertainties, risks and factors that are beyond our
control including, without limitation: the impact that the
precautions we have taken in our business relative to the ongoing
COVID-19 pandemic may have on our business; the financial impacts
of the COVID-19 pandemic on our customers, our potential customers,
the global financial markets and our business and future results of
operations; our potential failure to meet publicly announced
guidance or other expectations about our business and future
operating results; our limited operating history; our history of
losses; failure of our database platform to satisfy customer
demands; the effects of increased competition; our investments in
new products and our ability to introduce new features, services or
enhancements; our ability to effectively expand our sales and
marketing organization; our ability to continue to build and
maintain credibility with the developer community; our ability to
add new customers or increase sales to our existing customers; our
ability to maintain, protect, enforce and enhance our intellectual
property; the growth and expansion of the market for database
products and our ability to penetrate that market; our ability to
integrate acquired businesses and technologies successfully or
achieve the expected benefits of such acquisitions; our ability to
maintain the security of our software and adequately address
privacy concerns; our ability to manage our growth effectively and
successfully recruit and retain additional highly-qualified
personnel; and the price volatility of our common stock. These and
other risks and uncertainties are more fully described in our
filings with the Securities and Exchange Commission ("SEC"),
including under the caption "Risk Factors" in our Annual Report on
Form 10-K for the year ended January 31,
2020, filed with the SEC on March 27,
2020, and our Current Report on Form 8-K filed with the SEC
on June 4, 2020. Additional
information will be made available in our Quarterly Report on Form
10-Q for the quarterly period ended April
30, 2020 and other filings and reports that we may file from
time to time with the SEC. Except as required by law, we undertake
no duty or obligation to update any forward-looking statements
contained in this release as a result of new information, future
events, changes in expectations or otherwise.
Non-GAAP Financial Measures
This press release includes the following financial measures
defined as non-GAAP financial measures by the SEC: non-GAAP gross
profit, non-GAAP gross margin, non-GAAP operating expenses,
non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss
per share and free cash flow. Non-GAAP gross profit and non-GAAP
gross margin exclude stock-based compensation expense.
Non-GAAP operating expenses, non-GAAP loss from operations,
non-GAAP net loss and non-GAAP net loss per share exclude:
- stock-based compensation expense;
- amortization of intangible assets for the acquired technology
and acquired customer relationships associated with the prior
acquisitions of Realm, mLab and WiredTiger;
- amortization of time-based founder payments associated with the
mLab purchase that was deemed to be compensation expense for GAAP
purposes;
- acquisition costs associated with the purchase of Realm in
fiscal 2020; and
- in the case of non-GAAP net loss, non-cash interest expense
related to our convertible senior notes.
MongoDB uses these non-GAAP financial measures internally in
analyzing its financial results and believes they are useful to
investors, as a supplement to GAAP measures, in evaluating
MongoDB's ongoing operational performance. MongoDB believes that
the use of these non-GAAP financial measures provides an additional
tool for investors to use in evaluating ongoing operating results
and trends and in comparing its financial results with other
companies in MongoDB's industry, many of which present similar
non-GAAP financial measures to investors.
Free cash flow represents net cash used in operating activities
less capital expenditures, principal repayments of finance lease
liabilities and capitalized software development costs, if any.
MongoDB uses free cash flow to understand and evaluate its
liquidity and to generate future operating plans. The exclusion of
capital expenditures, principal repayments of finance lease
liabilities and amounts capitalized for software development
facilitates comparisons of MongoDB's liquidity on a
period-to-period basis and excludes items that it does not consider
to be indicative of its liquidity. MongoDB believes that free cash
flow is a measure of liquidity that provides useful information to
investors in understanding and evaluating the strength of its
liquidity and future ability to generate cash that can be used for
strategic opportunities or investing in its business in the same
manner as MongoDB's management and board of directors.
Non-GAAP financial measures have limitations as an analytical
tool and should not be considered in isolation from, or as a
substitute for, financial information prepared in accordance with
GAAP. In particular, other companies may report non-GAAP gross
profit, non-GAAP gross margin, non-GAAP operating expenses,
non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss
per share, free cash flow or similarly titled measures but
calculate them differently, which reduces their usefulness as
comparative measures. Investors are encouraged to review the
reconciliation of these non-GAAP measures to their most directly
comparable GAAP financial measures, as presented below. This
earnings press release and any future releases containing such
non-GAAP reconciliations can also be found on the Investor
Relations page of MongoDB's website at
https://investors.mongodb.com.
Investor Relations
Brian
Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com
Media Relations
Mark
Wheeler
MongoDB
866-237-8815 x7186
communications@mongodb.com
MONGODB,
INC.
|
CONSOLIDATED
BALANCE SHEETS
|
(in thousands,
except share and per share data)
|
(unaudited)
|
|
|
|
|
|
April 30,
2020
|
|
January 31,
2020
|
Assets
|
|
|
|
Current
assets:
|
|
|
|
Cash and cash
equivalents
|
$
700,645
|
|
$
706,192
|
Short-term
investments
|
276,372
|
|
280,326
|
Accounts receivable,
net of allowance for doubtful accounts of $4,327 and $2,515 as of
April 30, 2020
and
January 31, 2020, respectively
|
80,760
|
|
85,554
|
Deferred
commissions
|
25,737
|
|
24,219
|
Prepaid expenses and
other current assets
|
16,892
|
|
16,905
|
Total
current assets
|
1,100,406
|
|
1,113,196
|
Property and
equipment, net
|
57,914
|
|
58,316
|
Operating lease
right-of-use assets
|
32,965
|
|
11,147
|
Goodwill
|
55,830
|
|
55,830
|
Acquired intangible
assets, net
|
32,650
|
|
34,779
|
Deferred tax
assets
|
680
|
|
615
|
Other
assets
|
56,397
|
|
54,684
|
Total
assets
|
$
1,336,842
|
|
$
1,328,567
|
Liabilities and
Stockholders' Equity
|
|
|
|
Current
liabilities:
|
|
|
|
Accounts
payable
|
$
3,184
|
|
$
2,849
|
Accrued compensation
and benefits
|
33,649
|
|
41,427
|
Operating lease
liabilities
|
4,005
|
|
3,750
|
Other accrued
liabilities
|
27,112
|
|
26,860
|
Deferred
revenue
|
173,067
|
|
167,498
|
Total
current liabilities
|
241,017
|
|
242,384
|
Deferred tax
liability, non-current
|
821
|
|
821
|
Operating lease
liabilities, non-current
|
29,625
|
|
8,113
|
Deferred revenue,
non-current
|
19,954
|
|
23,281
|
Convertible senior
notes, net
|
923,098
|
|
911,075
|
Other liabilities,
non-current
|
59,286
|
|
60,035
|
Total
liabilities
|
1,273,801
|
|
1,245,709
|
Class A common stock,
par value of $0.001 per share; 1,000,000,000 shares authorized as
of April 30,
2020
and January 31, 2020; 50,358,480 and 48,512,090 shares issued and
outstanding as of April 30,
2020 and
January 31, 2020, respectively
|
50
|
|
48
|
Class B common stock,
par value of $0.001 per share; 100,000,000 shares authorized as of
April 30,
2020
and January 31, 2020; 7,738,326 and 8,969,824 shares issued as of
April 30, 2020 and January 31,
2020,
respectively; 7,638,955 and 8,870,453 shares outstanding as of
April 30, 2020 and January 31,
2020,
respectively
|
8
|
|
9
|
Additional paid-in
capital
|
785,730
|
|
752,127
|
Treasury stock, 99,371
shares (repurchased at an average of $13.27 per share) as of April
30, 2020 and
January
31, 2020
|
(1,319)
|
|
(1,319)
|
Accumulated other
comprehensive income
|
998
|
|
225
|
Accumulated
deficit
|
(722,426)
|
|
(668,232)
|
Total stockholders'
equity
|
63,041
|
|
82,858
|
Total liabilities and
stockholders' equity
|
$
1,336,842
|
|
$
1,328,567
|
MONGODB,
INC.
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
(in thousands,
except share and per share data)
|
(unaudited)
|
|
|
Three Months Ended
April 30,
|
|
2020
|
|
2019
|
Revenue:
|
|
|
|
Subscription
|
$
124,856
|
|
$
83,994
|
Services
|
5,473
|
|
5,394
|
Total
revenue
|
130,329
|
|
89,388
|
Cost of
revenue(1):
|
|
|
|
Subscription
|
30,625
|
|
22,595
|
Services
|
7,052
|
|
5,577
|
Total
cost of revenue
|
37,677
|
|
28,172
|
Gross
profit
|
92,652
|
|
61,216
|
Operating
expenses:
|
|
|
|
Sales and
marketing(1)
|
69,125
|
|
46,120
|
Research and
development(1)
|
45,632
|
|
30,868
|
General and
administrative(1)
|
19,935
|
|
14,805
|
Total
operating expenses
|
134,692
|
|
91,793
|
Loss from
operations
|
(42,040)
|
|
(30,577)
|
Other loss,
net
|
(11,693)
|
|
(2,801)
|
Loss before provision
for income taxes
|
(53,733)
|
|
(33,378)
|
Provision (benefit)
for income taxes
|
234
|
|
(138)
|
Net loss
|
$
(53,967)
|
|
$
(33,240)
|
Net loss per share,
basic and diluted
|
$
(0.94)
|
|
$
(0.61)
|
Weighted-average
shares used to compute net loss per share, basic and
diluted
|
57,649,524
|
|
54,710,746
|
|
|
|
|
|
|
|
|
(1)
Includes stock‑based compensation expense as follows:
|
|
|
|
|
Three Months Ended
April 30,
|
|
2020
|
|
2019
|
Cost of
revenue—subscription
|
$
1,827
|
|
$
988
|
Cost of
revenue—services
|
1,146
|
|
593
|
Sales and
marketing
|
10,823
|
|
4,940
|
Research and
development
|
11,759
|
|
4,520
|
General and
administrative
|
5,012
|
|
2,968
|
Total stock‑based
compensation expense
|
$
30,567
|
|
$
14,009
|
MONGODB,
INC.
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(in
thousands)
|
(unaudited)
|
|
|
Three Months Ended
April 30,
|
|
2020
|
|
2019
|
Cash flows from
operating activities
|
|
|
|
Net loss
|
$
(53,967)
|
|
$
(33,240)
|
Adjustments to
reconcile net loss to net cash used in operating
activities:
|
|
|
|
Depreciation and
amortization
|
2,864
|
|
2,298
|
Stock-based
compensation
|
30,567
|
|
14,009
|
Amortization of debt
discount and issuance costs
|
12,023
|
|
3,221
|
Amortization of finance
right-of-use assets
|
994
|
|
994
|
Amortization of
operating right-of-use assets
|
1,372
|
|
220
|
Non-cash interest on
finance lease liabilities
|
-
|
|
905
|
Deferred income
taxes
|
(290)
|
|
(557)
|
Accretion of discount
on short-term investments
|
(193)
|
|
(1,509)
|
Change in operating
assets and liabilities:
|
|
|
|
Accounts
receivable
|
3,637
|
|
10,960
|
Prepaid expenses and
other current assets
|
234
|
|
(260)
|
Deferred
commissions
|
(3,063)
|
|
(2,987)
|
Other long-term
assets
|
(170)
|
|
32
|
Accounts
payable
|
219
|
|
(268)
|
Accrued
liabilities
|
(2,779)
|
|
3,324
|
Operating lease
liabilities
|
(1,126)
|
|
(195)
|
Deferred
revenue
|
3,349
|
|
6,267
|
Other liabilities,
non-current
|
451
|
|
-
|
Net
cash provided by (used in) operating activities
|
(5,878)
|
|
3,214
|
Cash flows from
investing activities
|
|
|
|
Purchases of property
and equipment
|
(1,505)
|
|
(389)
|
Proceeds from
maturities of marketable securities
|
165,000
|
|
140,000
|
Purchases of marketable
securities
|
(160,283)
|
|
(139,024)
|
Net
cash provided by investing activities
|
3,212
|
|
587
|
Cash flows from
financing activities
|
|
|
|
Payments of issuance
costs for convertible senior notes
|
(4,154)
|
|
-
|
Proceeds from exercise
of stock options, including early exercised stock
options
|
3,000
|
|
6,437
|
Repurchase of early
exercised stock options
|
(1)
|
|
(30)
|
Principal repayments of
finance leases
|
(1,135)
|
|
-
|
Net
cash provided by (used in) financing activities
|
(2,290)
|
|
6,407
|
Effect of exchange
rate changes on cash, cash equivalents, and restricted
cash
|
(593)
|
|
19
|
Net increase
(decrease) in cash, cash equivalents, and restricted
cash
|
(5,549)
|
|
10,227
|
Cash, cash
equivalents, and restricted cash, beginning of period
|
706,706
|
|
148,347
|
Cash, cash
equivalents, and restricted cash, end of period
|
$
701,157
|
|
$
158,574
|
MONGODB,
INC.
|
RECONCILIATION OF
GAAP MEASURES TO NON-GAAP MEASURES
|
(in thousands,
except share and per share data)
|
(unaudited)
|
|
|
Three Months Ended
April 30,
|
|
2020
|
|
2019
|
Reconciliation of
GAAP gross profit to non-GAAP gross profit:
|
|
|
|
Gross profit on a GAAP
basis
|
$
92,652
|
|
$
61,216
|
Gross
margin (Gross profit/Total revenue) on a GAAP basis
|
71%
|
|
68%
|
Add back:
|
|
|
|
Stock-based
compensation expense: Cost of Revenue—Subscription
|
1,827
|
|
988
|
Stock-based
compensation expense: Cost of Revenue—Services
|
1,146
|
|
593
|
Non-GAAP gross
profit
|
$
95,625
|
|
$
62,797
|
Non-GAAP
gross margin (Non-GAAP gross profit/Total revenue)
|
73%
|
|
70%
|
|
|
|
|
Reconciliation of
GAAP operating expenses to non-GAAP operating
expenses:
|
|
|
|
Sales and marketing
operating expense on a GAAP basis
|
$
69,125
|
|
$
46,120
|
Less:
|
|
|
|
Stock-based
compensation expense
|
10,823
|
|
4,940
|
Amortization
of intangible assets associated with acquisitions
|
764
|
|
680
|
Non-GAAP sales and
marketing operating expense
|
$
57,538
|
|
$
40,500
|
|
|
|
|
Research and
development operating expense on a GAAP basis
|
$
45,632
|
|
$
30,868
|
Less:
|
|
|
|
Stock-based
compensation expense
|
11,759
|
|
4,520
|
Amortization
of intangible assets and time-based founder payments associated
with acquisitions
|
3,308
|
|
2,900
|
Non-GAAP research and
development operating expense
|
$
30,565
|
|
$
23,448
|
|
|
|
|
General and
administrative operating expense on a GAAP basis
|
$
19,935
|
|
$
14,805
|
Less:
|
|
|
|
Stock-based
compensation expense
|
5,012
|
|
2,968
|
Acquisition
costs
|
-
|
|
346
|
Non-GAAP general and
administrative operating expense
|
$
14,923
|
|
$
11,491
|
|
|
|
|
Reconciliation of
GAAP loss from operations to non-GAAP loss from
operations:
|
|
|
|
Loss from operations on
a GAAP basis
|
$
(42,040)
|
|
$
(30,577)
|
Add back:
|
|
|
|
Stock-based
compensation expense
|
30,567
|
|
14,009
|
Amortization
of intangible assets and Founder Holdback associated with
acquisitions
|
4,072
|
|
3,580
|
Acquisition
costs
|
-
|
|
346
|
Non-GAAP loss from
operations
|
$
(7,401)
|
|
$
(12,642)
|
|
|
|
|
Reconciliation of
GAAP net loss to non-GAAP net loss:
|
|
|
|
Net loss on a GAAP
basis
|
$
(53,967)
|
|
$
(33,240)
|
Add back:
|
|
|
|
Stock-based
compensation expense
|
30,567
|
|
14,009
|
Amortization
of intangible assets and Founder Holdback associated with
acquisitions
|
4,072
|
|
3580
|
Acquisition
costs
|
0
|
|
346
|
Non-cash
interest expense related to convertible senior notes
|
12,023
|
|
3,221
|
Non-GAAP net
loss
|
$
(7,305)
|
|
$
(12,084)
|
|
|
|
|
Reconciliation of
GAAP net loss per share, basic and diluted, to non-GAAP net loss
per share, basic and diluted:
|
|
|
|
Net loss per share,
basic and diluted, on a GAAP basis
|
$
(0.94)
|
|
$
(0.61)
|
Add back:
|
|
|
|
Stock-based
compensation expense
|
0.53
|
|
0.26
|
Amortization
of intangible assets and Founder Holdback associated with
acquisitions
|
0.07
|
|
0.06
|
Acquisition
costs
|
0
|
|
0.01
|
Non-cash
interest expense related to convertible senior notes
|
0.21
|
|
0.06
|
Non-GAAP net loss per
share, basic and diluted
|
$
(0.13)
|
|
$
(0.22)
|
|
|
|
|
The following table
presents a reconciliation of free cash flow to net cash used in
operating activities, the most directly comparable GAAP measure,
for each of the periods indicated (unaudited, in
thousands):
|
|
Three Months Ended
April 30,
|
|
2020
|
|
2019
|
Net cash provided by
(used in) operating activities
|
$
(5,878)
|
|
$
3,214
|
Capital
expenditures
|
(1,505)
|
|
(389)
|
Principal repayments
of finance lease liabilities
|
(1,135)
|
|
-
|
Capitalized
software
|
-
|
|
-
|
Free cash
flow
|
$
(8,518)
|
|
$
2,825
|
MONGODB,
INC.
|
CUSTOMER COUNT
METRICS AND MONGODB ENTERPRISE ADVANCED INFORMATION
|
|
The following table
presents certain customer count information as of the periods
indicated:
|
|
|
|
4/30/2018
|
|
7/31/2018
|
|
10/31/2018
|
|
1/31/2019
|
|
4/30/2019
|
|
7/31/2019
|
|
10/31/2019
|
|
1/31/2020
|
|
4/30/2020
|
Total
Customers
|
6,600+
|
|
7,400+
|
|
8,300+
|
|
13,400+
|
|
14,200+
|
|
15,000+
|
|
15,900+
|
|
17,000+
|
|
18,400+
|
Direct Sales
Customers(a)
|
1,550+
|
|
1,600+
|
|
1,700+
|
|
1,750+
|
|
1,800+
|
|
1,850+
|
|
1,900+
|
|
2,000+
|
|
2,200+
|
MongoDB
Atlas
Customers
|
4,400+
|
|
5,300+
|
|
6,200+
|
|
11,400+
|
|
12,300+
|
|
13,200+
|
|
14,200+
|
|
15,400+
|
|
16,800+
|
Customers over
$100K(b)
|
394
|
|
438
|
|
490
|
|
557
|
|
598
|
|
622
|
|
688
|
|
751
|
|
780
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Direct Sales
Customers are customers that were sold through our direct sales
force and channel partners.
|
(b) Represents the
number of customers with $100,000 or greater in annualized
recurring revenue ("ARR") and annualized monthly recurring revenue
("MRR"). ARR includes the revenue we expect to receive from our
customers over the following 12 months based on contractual
commitments and, in the case of Direct Sales Customers of MongoDB
Atlas, by annualizing the prior 90 days of their actual consumption
of MongoDB Atlas, assuming no increases or reductions in their
subscriptions or usage. For all other customers of our self-serve
products, we calculate annualized MRR by annualizing the prior
30 days of their actual consumption of such products, assuming
no increases or reductions in usage. ARR and annualized MRR exclude
professional services. Prior to January 31, 2020, ARR from Direct
Sales Customers of MongoDB Atlas was based on their contractual
commitments, regardless of their actual consumption. We believe
that our new consumption-based ARR calculation better reflects
actual customer behavior. The impact of this change on prior
reported periods is immaterial.
|
MONGODB,
INC.
|
SUPPLEMENTAL
REVENUE INFORMATION
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The following table
presents certain supplemental revenue information as of the periods
indicated:
|
|
|
|
4/30/2018
|
|
7/31/2018
|
|
10/31/2018
|
|
1/31/2019
|
|
4/30/2019
|
|
7/31/2019
|
|
10/31/2019
|
|
1/31/2020
|
|
4/30/2020
|
MongoDB
Enterprise
Advanced: % of
Subscription Revenue
|
67%
|
|
64%
|
|
59%
|
|
53%
|
|
54%
|
|
52%
|
|
46%
|
|
48%
|
|
49%
|
Direct Sales
Customers(a)
Revenue: % of
Subscription Revenue
|
88%
|
|
87%
|
|
87%
|
|
77%
|
|
77%
|
|
78%
|
|
78%
|
|
79%
|
|
79%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(a) Direct Sales
Customers are customers that were sold through our direct sales
force and channel partners.
|
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SOURCE MongoDB, Inc.