NEW YORK, Dec. 9, 2019 /PRNewswire/ -- MongoDB, Inc.
(NASDAQ: MDB), the leading, modern general purpose database
platform, today announced its financial results for the third
quarter ended October 31, 2019.
"MongoDB's terrific third quarter results are the latest example
of how the powerful combination of our modern data platform and
sophisticated go-to-market efforts are driving increased adoption
by both new and existing customers," said Dev Ittycheria, President
and Chief Executive Officer of MongoDB. "The rapid growth of Atlas,
which now comprises 40% of our business, is a clear demonstration
that customers of all sizes recognize the value and flexibility of
a managed cloud database-as-a-service."
"As we look ahead, Atlas's growing scale provides a tremendous
opportunity to develop even closer relationships with our customers
and enhance our value proposition. Our focus is to continue
delivering new innovations on our data platform while ensuring our
go-to-market efforts make it increasingly easy for customers to
consume Atlas."
Third Quarter Fiscal 2020 Financial Highlights
- Revenue: Total revenue was $109.4
million in the third quarter fiscal 2020, an increase of 52%
year-over-year. Subscription revenue was $103.8 million, an increase of 56%
year-over-year, and services revenue was $5.6 million, an increase of 8%
year-over-year.
- Gross Profit: Gross profit was $77.3 million in the third quarter fiscal 2020,
representing a 71% gross margin, compared to 75% in the year-ago
period. Non-GAAP gross profit was $79.3
million, representing a 72% non-GAAP gross margin.
- Loss from Operations: Loss from operations was
$38.7 million in the third quarter
fiscal 2020, compared to $20.2
million in the year-ago period. Non-GAAP loss from
operations was $14.3 million,
compared to $7.8 million in the
year-ago period.
- Net Loss: Net loss was $42.4
million, or $0.75 per share,
based on 56.4 million weighted-average shares outstanding in the
third quarter fiscal 2020. This compares to $22.5 million, or $0.43 per share, based on 52.7 million
weighted-average shares outstanding, in the year-ago period.
Non-GAAP net loss was $14.6 million
or $0.26 per share. This compares to
$6.9 million or $0.13 per share in the year-ago period.
- Cash Flow: As of October 31,
2019, MongoDB had $426.4
million in cash, cash equivalents, short-term investments
and restricted cash. During the three months ended October 31, 2019, MongoDB used $11.5 million of cash from operations,
$0.8 million in capital expenditures
and $0.8 million in principal
repayments of finance leases, leading to negative free cash flow of
$13.1 million, compared to negative
free cash flow of $9.7 million in the
year-ago period.
We adopted the new revenue recognition accounting standard
Accounting Standards Codification ("ASC") 606 effective as of
January 31, 2019 and applied as of
February 1, 2018, on a full
retrospective basis. All amounts and disclosures in this press
release have been updated to comply with the new revenue
recognition standard.
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."
Third Quarter Fiscal 2020 and Recent Business
Highlights
- Continued product innovation and expanded capabilities of the
MongoDB data platform. Added auto-scaling, a major new feature for
MongoDB Atlas, which brings fully automated capacity management to
customers' managed MongoDB databases. When enabled, Atlas will
autonomously adjust instance sizes up or down as needed by using
predictive modeling and proven practices developed from managing
tens of thousands of MongoDB deployments.
- Continued to expand our global partner ecosystem with the
announcement of a new partnership with Alibaba Cloud, the data intelligence backbone of
Alibaba Group. MongoDB enjoys enormous global popularity with
developers and China has been one
of the countries with the most MongoDB downloads for the past
several years. Now, users in China
have access to an authorized MongoDB-as-a-Service for the first
time. Customers of Alibaba Cloud are
able to use the managed offering from Alibaba Cloud's data centers globally.
- Deepened our leadership bench with the addition of Francisco (Frank) D'Souza to the Board of
Directors and the promotion of Sahir
Azam to Chief Product Officer. D'Souza co-founded Cognizant,
one of the world's leading professional services companies, and
served as its CEO during a period of tremendous growth to
$16 billion in revenue. D'Souza adds
strong experience scaling a global technology company with a large
market opportunity. Azam previously served as Senior Vice President
of MongoDB's cloud offerings, including MongoDB Atlas, which has
grown to a $175M+ run-rate business with more than 14,200 customers
in just three years. In his new role, Azam will oversee management
of MongoDB's entire product portfolio.
Business Outlook
Based on information as of today, December 9, 2019, MongoDB is issuing the
following financial guidance for the fourth quarter and full year
fiscal 2020.
|
Fourth Quarter
Fiscal 2020
|
Full Year Fiscal
2020
|
Revenue
|
$109.0 million to
$111.0 million
|
$407.2 million to
$409.2 million
|
Non-GAAP Loss from
Operations
|
$(16.5) million to
$(15.5) million
|
$(58.2) million to
$(57.2) million
|
Non-GAAP Net Loss
per Share
|
$(0.29) to
$(0.27)
|
$(1.04) to
$(1.02)
|
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, December 9, 2019, 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
888-317-6016 (domestic) or 412-317-6016 (international). A replay
of this conference call will be available for a limited time at
877-344-7529 (domestic) or 412-317-0088 (international). The replay
conference ID is 10137152. 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
15,900 customers in over 100 countries. The MongoDB database
platform has been downloaded over 80 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 fourth fiscal quarter and full year
fiscal 2020, our future growth, the potential of MongoDB Atlas, our
ability to transform the global database industry and to capitalize
on opportunities and the anticipated impact of our go-to-market,
growth and product strategies. 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: 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; the price volatility of our
common stock; and those risks detailed from time-to-time under the
caption "Risk Factors" and elsewhere in our Securities and Exchange
Commission ("SEC") filings and reports, including our Annual Report
on Form 10-K filed on April 1, 2019
and our Quarterly Report on Form 10-Q filed on September 5, 2019, as well as future filings and
reports by us. 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 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 loss from operations, non-GAAP
net loss and non-GAAP net loss per share exclude:
- stock-based compensation expense;
- accelerated charges associated with the New York City office move in the third quarter
fiscal 2019;
- amortization of intangible assets for the acquired technology
and acquired customer relationships associated with the purchase of
Realm, as well as for the prior acquisitions of mLab and
WiredTiger;
- amortization of the founder holdback 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 mLab in fiscal 2019; and
- in the case of non-GAAP net loss, non-cash interest expense
related to our convertible senior notes and a non-recurring income
tax benefit associated with the acquisition of Realm intangible
assets.
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 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)
|
|
|
October 31,
2019
|
January 31,
2019
|
Assets
|
|
|
Current
assets:
|
|
|
Cash and cash
equivalents
|
$
151,307
|
$
147,831
|
Short-term
investments
|
274,560
|
318,139
|
Accounts receivable,
net of allowance for doubtful accounts of $2,213 and $1,539 as of
October 31, 2019 and January 31, 2019, respectively
|
67,506
|
72,808
|
Deferred
commissions
|
19,717
|
15,878
|
Prepaid expenses and
other current assets
|
12,531
|
11,580
|
Total current
assets
|
525,621
|
566,236
|
Property and
equipment, net
|
59,418
|
73,664
|
Operating lease
right-of-use assets
|
12,151
|
-
|
Goodwill
|
55,484
|
41,878
|
Acquired intangible
assets, net
|
36,982
|
15,894
|
Deferred tax
assets
|
2,206
|
1,193
|
Other
assets
|
43,123
|
34,611
|
Total
assets
|
$
734,985
|
$
733,476
|
Liabilities and
Stockholders' Equity
|
|
|
Current
liabilities:
|
|
|
Accounts
payable
|
$
2,124
|
$
2,153
|
Accrued compensation
and benefits
|
31,335
|
25,982
|
Operating lease
liabilities
|
4,180
|
-
|
Other accrued
liabilities
|
29,094
|
14,169
|
Deferred
revenue
|
137,789
|
122,333
|
Total current
liabilities
|
204,522
|
164,637
|
Deferred rent,
non-current
|
-
|
2,567
|
Deferred tax
liability, non-current
|
114
|
106
|
Operating lease
liabilities, non-current
|
9,044
|
-
|
Deferred revenue,
non-current
|
14,601
|
15,343
|
Convertible senior
notes, net
|
226,690
|
216,858
|
Other liabilities,
non-current
|
61,179
|
69,399
|
Total
liabilities
|
516,150
|
468,910
|
Stockholders'
equity:
|
|
|
Class A common stock,
par value of $0.001 per share; 1,000,000,000 shares authorized as
of October 31, 2019 and January 31, 2019; 47,583,572 and 36,286,573
shares issued and outstanding as of October 31, 2019 and January
31, 2019, respectively
|
48
|
36
|
Class B common stock,
par value of $0.001 per share; 100,000,000 shares authorized as of
October 31, 2019 and January 31, 2019; 9,194,461 and 18,134,608
shares issued as of October 31, 2019 and January 31, 2019,
respectively; 9,095,090 and 18,035,237 shares outstanding as of
October 31, 2019 and January 31, 2019, respectively
|
9
|
18
|
Additional paid-in
capital
|
825,577
|
754,612
|
Treasury stock,
99,371 shares (repurchased at an average of $13.27 per share) as of
October 31, 2019 and January 31, 2019
|
(1,319)
|
(1,319)
|
Accumulated other
comprehensive income (loss)
|
189
|
(174)
|
Accumulated
deficit
|
(605,669)
|
(488,607)
|
Total stockholders'
equity
|
218,835
|
264,566
|
Total liabilities and
stockholders' equity
|
$
734,985
|
$
733,476
|
MONGODB,
INC.
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
(in thousands,
except share and per share data)
|
(unaudited)
|
|
|
Three Months Ended
October 31,
|
Nine Months Ended
October 31,
|
|
2019
|
2018
|
2019
|
2018
|
Revenue:
|
|
|
|
|
Subscription
|
$
103,827
|
$
66,604
|
$
281,977
|
$
167,759
|
Services
|
5,614
|
5,178
|
16,220
|
13,773
|
Total
revenue
|
109,441
|
71,782
|
298,197
|
181,532
|
Cost of
revenue(1):
|
|
|
|
|
Subscription
|
26,497
|
13,248
|
73,465
|
35,434
|
Services
|
5,694
|
4,510
|
17,100
|
12,567
|
Total cost of
revenue
|
32,191
|
17,758
|
90,565
|
48,001
|
Gross
profit
|
77,250
|
54,024
|
207,632
|
133,531
|
Operating
expenses:
|
|
|
|
|
Sales and
marketing(1)
|
57,015
|
36,080
|
156,659
|
105,814
|
Research and
development(1)
|
39,387
|
23,179
|
107,395
|
63,254
|
General and
administrative(1)
|
19,562
|
14,986
|
50,541
|
38,467
|
Total operating
expenses
|
115,964
|
74,245
|
314,595
|
207,535
|
Loss from
operations
|
(38,714)
|
(20,221)
|
(106,963)
|
(74,004)
|
Other loss,
net
|
(3,110)
|
(2,299)
|
(8,916)
|
(2,140)
|
Loss before provision
for income taxes
|
(41,824)
|
(22,520)
|
(115,879)
|
(76,144)
|
Provision (benefit)
for income taxes
|
559
|
(33)
|
(2,920)
|
680
|
Net loss
|
$
(42,383)
|
$
(22,487)
|
$
(112,959)
|
$
(76,824)
|
Net loss per share,
basic and diluted
|
$
(0.75)
|
$
(0.43)
|
$
(2.03)
|
$
(1.49)
|
Weighted-average
shares used to compute net loss per share, basic and
diluted
|
56,411,779
|
52,702,526
|
55,600,484
|
51,431,021
|
____________________
|
(1)
|
Includes stock‑based
compensation expense as follows:
|
|
|
|
Three Months Ended
October 31,
|
Nine Months Ended
October 31,
|
|
2019
|
2018
|
2019
|
2018
|
Cost of
revenue—subscription
|
$
1,274
|
$
555
|
$
3,476
|
$
1,403
|
Cost of
revenue—services
|
793
|
335
|
2,107
|
800
|
Sales and
marketing
|
6,844
|
3,090
|
17,728
|
7,437
|
Research and
development
|
6,879
|
3,131
|
17,513
|
8,241
|
General and
administrative
|
3,577
|
3,153
|
10,214
|
8,969
|
Total stock‑based
compensation expense
|
$
19,367
|
$
10,264
|
$
51,038
|
$
26,850
|
MONGODB,
INC.
|
CONDENSED
CONSOLIDATED STATEMENTS OF CASH FLOWS
|
(in
thousands)
|
(unaudited)
|
|
|
Three Months Ended
October 31,
|
Nine Months Ended
October 31,
|
|
2019
|
2018
|
2019
|
2018
|
Cash flows from
operating activities
|
|
|
|
|
Net loss
|
$
(42,383)
|
$
(22,487)
|
$
(112,959)
|
$
(76,824)
|
Adjustments to
reconcile net loss to net cash used in operating
activities:
|
|
|
|
|
Depreciation and
amortization
|
3,793
|
1,711
|
9,824
|
3,334
|
Stock-based
compensation
|
19,367
|
10,264
|
51,038
|
26,850
|
Amortization of debt
discount and issuance costs
|
3,335
|
3,139
|
9,833
|
4,233
|
Amortization of
finance right-of-use assets
|
994
|
-
|
2,982
|
-
|
Amortization of
operating right-of-use assets
|
936
|
-
|
2,055
|
-
|
Non-cash interest on
finance lease liabilities
|
-
|
659
|
1,823
|
659
|
Deferred income
taxes
|
(309)
|
(398)
|
(4,541)
|
(351)
|
Accretion of discount
on short-term investments
|
(868)
|
(1,497)
|
(3,619)
|
(2,567)
|
Change in operating
assets and liabilities:
|
|
|
|
|
Accounts
receivable
|
(1,097)
|
(2,686)
|
5,123
|
3,783
|
Prepaid expenses and
other current assets
|
314
|
(611)
|
189
|
(1,451)
|
Deferred
commissions
|
(5,159)
|
(6,230)
|
(12,205)
|
(9,585)
|
Other long-term
assets
|
(175)
|
(79)
|
(148)
|
(33)
|
Accounts
payable
|
(592)
|
229
|
(152)
|
(165)
|
Deferred
rent
|
-
|
341
|
-
|
1,258
|
Accrued
liabilities
|
7,891
|
5,227
|
16,176
|
7,184
|
Operating lease
liabilities
|
(895)
|
-
|
(1,979)
|
-
|
Deferred
revenue
|
2,565
|
4,810
|
14,898
|
11,166
|
Other liabilities,
non-current
|
740
|
-
|
740
|
-
|
Net cash used in
operating activities
|
(11,543)
|
(7,608)
|
(20,922)
|
(32,509)
|
Cash flows from
investing activities
|
|
|
|
|
Purchases of property
and equipment
|
(754)
|
(2,137)
|
(2,350)
|
(3,698)
|
Acquisition, net of
cash acquired
|
-
|
-
|
(38,629)
|
-
|
Proceeds from
maturities of marketable securities
|
130,000
|
88,000
|
410,000
|
206,000
|
Purchases of
marketable securities
|
(154,505)
|
(69,269)
|
(363,530)
|
(369,736)
|
Net cash provided by
(used in) investing activities
|
(25,259)
|
16,594
|
5,491
|
(167,434)
|
Cash flows from
financing activities
|
|
|
|
|
Proceeds from
exercise of stock options, including early exercised stock
options
|
1,933
|
9,525
|
13,283
|
17,631
|
Proceeds from the
issuance of common stock under the Employee Stock Purchase
Plan
|
-
|
-
|
6,394
|
5,626
|
Repurchase of early
exercised stock options
|
(4)
|
(18)
|
(35)
|
(327)
|
Principal repayments
of finance leases
|
(798)
|
-
|
(798)
|
-
|
Proceeds from
borrowings on convertible senior notes, net of issuance
costs
|
-
|
(2,016)
|
-
|
291,145
|
Payment for purchase
of capped calls
|
-
|
-
|
-
|
(37,086)
|
Proceeds from tenant
allowance related to build to suit lease
|
-
|
257
|
-
|
633
|
Net cash provided by
financing activities
|
1,131
|
7,748
|
18,844
|
277,622
|
Effect of exchange
rate changes on cash, cash equivalents, and restricted
cash
|
295
|
(18)
|
62
|
(101)
|
Net increase
(decrease) in cash, cash equivalents, and restricted
cash
|
(35,376)
|
16,716
|
3,475
|
77,578
|
Cash, cash
equivalents, and restricted cash, beginning of period
|
187,198
|
123,289
|
148,347
|
62,427
|
Cash, cash
equivalents, and restricted cash, end of period
|
$
151,822
|
$
140,005
|
$
151,822
|
$
140,005
|
MONGODB,
INC.
|
RECONCILIATION OF
GAAP MEASURES TO NON-GAAP MEASURES
|
(in thousands,
except share and per share data)
|
(unaudited)
|
|
|
Three Months Ended
October 31,
|
Nine Months Ended
October 31,
|
|
2019
|
2018
|
2019
|
2018
|
Reconciliation of
GAAP gross profit to non-GAAP gross profit:
|
|
|
|
|
Gross profit on a
GAAP basis
|
$
77,250
|
$
54,024
|
$
207,632
|
$
133,531
|
Gross margin (Gross
profit/Total revenue) on a GAAP basis
|
71%
|
75%
|
70%
|
74%
|
Add back:
|
|
|
|
|
Stock-based
compensation expense: Cost of Revenue—Subscription
|
1274
|
555
|
3476
|
1403
|
Stock-based
compensation expense: Cost of Revenue—Services
|
793
|
335
|
2107
|
800
|
Non-GAAP gross
profit
|
$
79,317
|
$
54,914
|
$
213,215
|
$
135,734
|
Non-GAAP gross margin
(Non-GAAP gross profit/Total revenue)
|
72%
|
77%
|
72%
|
75%
|
|
|
|
|
|
Reconciliation of
GAAP loss from operations to non-GAAP loss from
operations:
|
|
|
|
|
Loss from operations
on a GAAP basis
|
$
-38,714
|
$
-20,221
|
$
-106,963
|
$
-74,004
|
Add back:
|
|
|
|
|
Stock-based
compensation expense
|
19,367
|
10,264
|
51,038
|
26,850
|
Amortization of
intangible assets and Founder Holdback associated with
acquisitions
|
5,027
|
221
|
13,625
|
663
|
Accelerated charges
associated with the New York City office move
|
-
|
1,450
|
-
|
1,450
|
Acquisition
costs
|
63
|
510
|
641
|
510
|
Non-GAAP loss from
operations
|
$
-14,257
|
$
-7,776
|
$
-41,659
|
$
-44,531
|
|
|
|
|
|
Reconciliation of
GAAP net loss to non-GAAP net loss:
|
|
|
|
|
Net loss on a GAAP
basis
|
$
-42,383
|
$
-22,487
|
$
-112,959
|
$
-76,824
|
Add back:
|
|
|
|
|
Stock-based
compensation expense
|
19,367
|
10,264
|
51,038
|
26,850
|
Amortization of
intangible assets and Founder Holdback associated with
acquisitions
|
5,027
|
221
|
13,625
|
663
|
Accelerated charges
associated with the New York City office move
|
0
|
1,450
|
0
|
1,450
|
Acquisition
costs
|
63
|
510
|
641
|
510
|
Non-cash interest
expense related to convertible senior notes
|
3,335
|
3,139
|
9,833
|
4,233
|
Non-recurring income
tax benefit associated with the acquisition of Realm intangible
assets
|
$
-
|
$
-
|
$
-3,536
|
$
-
|
Non-GAAP net
loss
|
$
-14,591
|
$
-6,903
|
$
-41,358
|
$
-43,118
|
|
|
|
|
|
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
|
$
-0.75
|
$
-0.43
|
$
-2.03
|
$
-1.49
|
Add back:
|
|
|
|
|
Stock-based
compensation expense
|
0.34
|
0.19
|
0.92
|
0.52
|
Amortization of
intangible assets and Founder Holdback associated with
acquisitions
|
0.09
|
0.01
|
0.25
|
0.01
|
Accelerated charges
associated with the New York City office move
|
0
|
0.03
|
0
|
0.03
|
Acquisition
costs
|
0
|
0.01
|
0.01
|
0.01
|
Non-cash interest
expense related to convertible senior notes
|
0.06
|
0.06
|
0.18
|
0.08
|
Non-recurring income
tax benefit associated with the acquisition of Realm intangible
assets
|
$
-
|
$
-
|
$
-0.06
|
$
-
|
Non-GAAP net loss per
share, basic and diluted
|
$
-0.26
|
$
-0.13
|
$
-0.74
|
$
-0.84
|
|
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
October 31,
|
Nine Months Ended
October 31,
|
|
2019
|
2018
|
2019
|
2018
|
Net cash used in
operating activities
|
$
-11,543
|
$
-7,608
|
$
- 20,922
|
$
-32,509
|
Capital
expenditures
|
-754
|
-2,137
|
-2,350
|
-3,698
|
Principal repayments
of finance lease liabilities
|
-798
|
-
|
-798
|
-
|
Capitalized
software
|
-
|
-
|
-
|
-
|
Free cash
flow
|
$
-13,095
|
$
-9,745
|
$
-24,070
|
$
-36,207
|
MONGODB,
INC.
|
CUSTOMER COUNT
METRICS
|
|
The following table
presents certain customer count information as of the periods
indicated:
|
|
|
10/31/2017
|
1/31/2018
|
04/30/2018
|
7/31/2018
|
10/31/2018
|
1/31/2019
|
04/30/2019
|
7/31/2019
|
10/31/2019
|
Total
Customers
|
4,900+
|
5,700+
|
6,600+
|
7,400+
|
8,300+
|
13,400+
|
14,200+
|
15,000+
|
15,900+
|
Direct Sales
Customers(a)
|
1,400+
|
1,450+
|
1,550+
|
1,600+
|
1,700+
|
1,750+
|
1,800+
|
1,850+
|
1,900+
|
MongoDB Atlas
Customers
|
2,600+
|
3,400+
|
4,400+
|
5,300+
|
6,200+
|
11,400+
|
12,300+
|
13,200+
|
14,200+
|
Customers over
$100K(b)
|
320
|
354
|
394
|
438
|
490
|
557
|
598
|
622
|
688
|
|
(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"). We define ARR as the subscription revenue we would
contractually expect to receive from customers over the following
12 months assuming no increases or reductions in their
subscriptions. ARR excludes self-service products, including
MongoDB Atlas not sold on a commitment basis. ARR also excludes
professional services. For customers who utilize
our self-service offerings, we measure the annualized MRR,
which is calculated by annualizing their usage of our self-serve
products in the prior 30 days and assuming no increases or
reductions in their usage.
|
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SOURCE MongoDB, Inc.