MongoDB, Inc. reported a total revenue of $2.006 billion for the fiscal year ending January 31, 2025, marking a 19% increase from $1.683 billion in the previous year. The company's subscription revenue, which constitutes 97% of total revenue, rose to $1.944 billion, driven primarily by growth in its MongoDB Atlas database-as-a-service (DBaaS) offering, which accounted for 70% of total revenue. Despite this revenue growth, MongoDB recorded a net loss of $129.1 million, an improvement from the $176.6 million loss reported in the prior fiscal year, attributed to increased sales and marketing expenses as well as research and development costs.
The company experienced significant operational changes, including an increase in its customer base to over 54,500, up from approximately 47,800 the previous year. MongoDB Atlas saw a notable rise in self-serve customers, contributing to the overall growth. The net annual recurring revenue (ARR) expansion rate was reported at 118%, reflecting the company's ability to retain and expand its existing customer relationships, although this was a decline from previous periods due to macroeconomic pressures affecting customer spending.
Strategically, MongoDB has focused on enhancing its product offerings, launching MongoDB version 8.0, which includes improved security and new features such as Atlas Stream Processing. The company also made a significant acquisition in February 2025, purchasing Voyage AI Innovations, Inc. for approximately $220 million, aimed at bolstering its capabilities in AI-powered applications. Additionally, MongoDB's workforce grew to 5,558 employees, with a notable increase in its sales and marketing team, which now comprises 2,542 employees.
Looking ahead, MongoDB anticipates continued growth despite potential macroeconomic headwinds, including inflation and rising interest rates, which have already begun to impact customer spending patterns. The company plans to maintain its investment in product development and sales expansion to capitalize on its market opportunities. MongoDB's management remains optimistic about the long-term prospects of its developer data platform, emphasizing the importance of adapting to evolving market conditions and customer needs.
About MongoDB, Inc.
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