Posted on Monday, Apr 27th 2020
IDC projects the database market to be $71 billion in 2020, growing to $97 billion in 2023. MongoDB has less than 1% share of the global database market and a long runway for growth ahead of it.
MongoDB’s fourth quarter revenues grew 44% over the year to
$123.5 million, ahead of the market’s forecast of $110.57 million. Net loss was
$62.6 million compared to $22.2 million a year ago. Non GAAP loss was $0.25 per
share, missing the Street’s forecast of a loss of $0.28 per share.
Q4 subscription revenue grew 46% to $117.8 million, and services revenue grew 17% to $5.7 million. It added 1,100 customers in the quarter to end with over 17,000 customers. The growth in its total customer count is driven in large part by its Database as a Service Atlas, which had over 15,400 customers at the end of the quarter compared to over 11,400 a year ago. Driven by its deeper integration with Google Cloud Platform, Atlas grew over 80% and now represents 41% of total revenue, compared to 32% a year ago.
The company ended the quarter with 751
customers with at least $100,000 in ARR and annualized MRR, up from 557 a year ago.
It had 62 customers with at least $1 million in ARR and annualized MRR, up from
39 a year ago.
For the full fiscal year 2020, total revenue grew 58% to $421.7
million. Subscription revenue grew 61% to $399.8 million, and services revenue grew
18% to $21.9 million.
For the first quarter, it expects revenues of $119-$121 million
with a net loss of $0.25-$0.22 per share. It expects full year fiscal 2021 revenues
of $510-$530 million and a net loss of $1.4-$1.23 per share.
MongoDB estimates $1 million to $2 million negative revenue impact
from COVID-19 outbreak for the first quarter and $15 million to $25 million for
the full-year fiscal 2021.
MongoDB’s New Products
Over the past year, MongoDB announced several products that demonstrate how it is evolving its data platform for applications with greater functionality and scope.
Atlas Data Lake brings transactional and analytical use cases together by allowing customers to query both operational and archive data. Atlas Search brings the previously separate search functionality into the operational database.
Finally, the integration of its
$39 million acquisition of Realm with its serverless platform Stitch has fuelled its PaaS strategy. San Francisco-based Realm was founded in 2011 as a mobile database that enabled its users to develop faster applications. Realm makes it easy to build reactive apps with collaborative features and offline-first experiences, There are more than 100,000 active developers using Realm.
Stitch facilitates the rapid development of mobile and web applications. The services provided in Stitch give developers access to database functionality as well as security and privacy controls. The integration will address the issue of edge to core data synchronization. These and other future products will leverage its powerful API to access large amounts of data easily to provide an unparalleled developer experience.
To help attract and retain enterprise customers, MongoDB has ensured that it has strong cloud partnerships. Its platform can operate on all major cloud providers including Google Cloud, AWS, and Microsoft Azure.
Here are some use cases for MongoDB platform. Unqork, a no code application platform that helps large enterprises, healthcare providers and government agencies build complex custom software faster, selected MongoDB Atlas as its primary cloud database platform in 2017. The company expanded its use of MongoDB last quarter because they wanted a data platform provider that was cloud-agnostic, highly scalable, enterprise-security-ready, and trusted by their Fortune 500 customers.
Location-aware data infrastructure company Radar Labs chose MongoDB Atlas to power its geolocation platform, which currently runs on more than 25 million devices around the globe, processing billions of location data points each week. An early member of MongoDB for start-ups program, Radar Labs continues to make big bets on MongoDB to help scale the delivery of its rich geolocation services, so its developers can focus on the company’s goal of making every app on every device, contextually aware.
The stock is currently trading at $159.94 with a market capitalization of $9.2 billion. It touched a 52-week high of $184.78 in February this year and a 52-week low of $93.81 in March. The stock has delivered tremendous growth from its list price of $24 in October 2017.
Photo Credit: Garrett Heath/Flickr.com This segment is a part in the series : Cloud Stocks . Smartsheet Acquiring Bootstrapped Startups to Drive Growth . Bootstrapped Unicorn Atlassian is Acquiring Capital Efficient Startups . Netflix Price Hike Ruffles Competition . How Will Carbon Black Differentiate? . ServiceNow Grows Through Addition of Capital-Efficient Startups . Zendesk and Freshworks Follow Different Acquisition Strategies . Tableau Grows Through Small Acquisitions . Open Platform Strategy Stands Intuit in Good Stead . Will GoDaddy Follow the PaaS Route? . Adobe Delivers Via PaaS More »» . A Look at Oracle’s 2018 M&A Activity . What Apps Will Drive More Traction for Cloudera? . Slack's App Focus Will Be Key to Post-IPO Success . IBM Counts on its Cloud and Platform for the Turnaround . Atlassian Acquires From its PaaS Marketplace . What Should SAP Acquire to Triple its Value by 2023? . Expect ServiceNow to Acquire From App Marketplace . Should Alarm.com Follow a PaaS Strategy? . How Upwork Can Leverage the Virtual Company Trend . Qualys Scouting For Acquisitions . Should SAP Acquire Zendesk or Freshworks? . HubSpot Counts on its API Strategy . SurveyMonkey Eyes Acquisitions for Growth . Workday Wants to Disrupt Cloud Computing Using Machine Learning . Einstein and Open-Source Platform Lead the Charge for Salesforce . DocuSign Prepares to Beat Rival Adobe . Veeva Soars, But Dassault Acquires Medidata for $5.8 Billion . Tableau Acquisition Signals Massive Analytics Push for Salesforce . Oracle Joins Hands with Microsoft to Take on Amazon . GoDaddy is Making Strategic Acquisitions for the Next Level of Growth . Alteryx Sees Strong Momentum . Adobe Leveraging Magento and Marketo to Deliver Blockbuster Performance . Is Slack Overvalued? . How Will Cloudera Address the Competition? . Zoom is Not Bothered by Cisco or Microsoft . Domo Counts on Enterprise Revenue for Growth . 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Zendesk, Freshworks Focus on Marketplaces and Integrations . Proofpoint Targets Insider Threats Through Acquisition . RingCentral's Powerful Partner Strategy Would Augment with PaaS . Qualys Counts on Google and Microsoft for Growth . Shopify Soars on Improved Merchant Offerings . HubSpot Believes in the Importance of PaaS . BlackLine Remains Focused on SAP Integration . Recently Public Cloudflare has New Edge . GoDaddy is on a Shopping Spree . Intuit Targets Online User Base Through Acquisition . Should Palo Alto Networks Acquire ZScaler? . Why Salesforce Buying Vlocity Proves the Growing Importance of PaaS . Datadog Performing Well Post Recent IPO . Workday Should Open Up About its PaaS Success . Anaplan Focuses on API Connectors for its Platform . Veeva . Five9 Strengthens its PaaS Focus . RealPage Brings AI and SaaS to Real Estate . Splunk Should Open up About its PaaS Metrics . Okta Benefiting from App Diversity . Oracle Sees Growth Momentum . Xero Focuses on a PaaS Strategy . 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Smartsheet Remains Focused on Integrations . Five9's Partnerships Translating to Product Innovations . DocuSign Sees Digital Signature Trends Here to Stay . Market Leader Tenable Leverages Acquisitions for Growth . Analysis of Zscaler's Recent Two Acquisitions . Analysis of Rapid7's Velocidex Acquisition . Dropbox Expands in International eSignature Market . MongoDB Rides High on Five Years of Atlas . RingCentral Leverages Partnerships for Growth . BlackLine Remains Focused on SAP . ON24 Expands Marketing Offerings . Analysis of Magnite's Spot X Acquisition . PagerDuty Focuses on Integrations . Upstart Expands into Auto Loans Through Prodigy Acquisition . Analysis of Bill.com's Divvy Acquisition . C3.ai Doubles Down on Partnerships . Analysis of Coupa's Pana Acquisition . BigCommerce Eyes a Bigger Marketshare Through Walmart Tie-up . Analysis of Everbridge's xMatters Acquisition . Adobe's Digital Solutions Drive Stellar Growth . CrowdStrike Leads in Endpoint Security Through Tie-ups . 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