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MongoDB (MDB - Free Report) incurred fourth-quarter fiscal 2021 adjusted loss of 33 cents per share that beat the Zacks Consensus Estimate by 17.5%. However, the figure was wider than the loss of 25 cents per share reported in the year-ago quarter.
Moreover, revenues of $171 million surged 38.4% year over year and also comfortably surpassed the consensus mark by 9.1%.
MongoDB’s subscription revenues contributed to 96% of revenues and totaled $164 million, up 39.1% year over year. Moreover, this Zacks Rank #3 (Hold) company’s services revenues grew 24.3% year over year to $7.1 million, representing 4% of revenues. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
User Base Jumps
MongoDB added 2,200 customers sequentially to reach 24,800 at the end of the quarter under review. Of this, more than 3,000 are direct-sales customers.
The company’s Atlas revenues soared 66% year over year, accounting for 49% of the company’s top line. Atlas had more than 23,300 customers at the end of the reported quarter, adding 2,200 customers sequentially.
Net ARR expansion rate remained above 120%. The company ended the quarter with 975 customers, with at least $100,000 in ARR and annualized MRR, compared with 898 in the year-ago quarter.
Operating Details
In the reported quarter, gross margin contracted 170 basis points (bps) on a year-over-year basis to 72.1%.
While research and development (R&D) expenses climbed 31.7% to $38.4 million, sales and marketing (S&M) expenses ascended 40.8% to $81 million. Moreover, general and administrative (G&A) expenses augmented 20% to $19.9 million.
However, as percentage of revenues, R&D expenses decreased 110 bps to 22.4%. G&A expenses declined 180 bps to 11.6%. As percentage of revenues, S&M expenses increased 80 bps on a year-over-year basis to 47.4%.
Loss from operations widened to $16 million from the year-ago quarter loss of $12 million.
Balance Sheet & Cash Flow
As of Jan 31, 2021, MongoDB had $957.7 million in cash, cash equivalents and short-term investments compared with $966.3 million as of Oct 31, 2020.
In the reported quarter, the company used $18.6 million of cash from operations and $0.8 million in capital expenditures. Free cash outflow was $20.7 million.
Key Q4 Highlights
During the reported quarter, the company announced the general availability of MongoDB Realm Sync, a fully managed service that synchronizes data between the Realmmobile database and Atlas.
MongoDB also launched a global partnership with the cloud service of Tencent (TCEHY - Free Report) . Moreover, the company expanded its partnership with Alphabet’s (GOOGL - Free Report) Google Cloud.
Markedly, MongoDB’s Atlas enables customers to run an application simultaneously across Google Cloud, Amazon Web Services and Microsoft’s (MSFT - Free Report) cloud offering, Azure.
Guidance
For first-quarter fiscal 2021, MongoDB expects revenues between $167 million and $170 million. The Zacks Consensus Estimate is pegged at $165.7 million, implying 26.9% growth from the figure reported in the year-ago quarter.
Non-GAAP loss from operations is anticipated to be $19-$21 million. Non-GAAP net loss is predicted between 36 cents and 39 cents per share. The consensus mark stands at a loss of 40 cents per share.
For fiscal 2022, MongoDB expects revenues between $745 million and $765 million. The Zacks Consensus Estimate is pegged at $733 million, implying 27.2% growth from the figure reported in the year-ago quarter.
Non-GAAP loss from operations is estimated to be $74-$84 million. Non-GAAP net loss is predicted between $1.39 and $1.55 per share. The consensus mark stands at a loss of $1.13 per share.
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MongoDB (MDB) Q4 Earnings Surpass Estimates, Revenues Rise
MongoDB (MDB - Free Report) incurred fourth-quarter fiscal 2021 adjusted loss of 33 cents per share that beat the Zacks Consensus Estimate by 17.5%. However, the figure was wider than the loss of 25 cents per share reported in the year-ago quarter.
Moreover, revenues of $171 million surged 38.4% year over year and also comfortably surpassed the consensus mark by 9.1%.
MongoDB’s subscription revenues contributed to 96% of revenues and totaled $164 million, up 39.1% year over year. Moreover, this Zacks Rank #3 (Hold) company’s services revenues grew 24.3% year over year to $7.1 million, representing 4% of revenues. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
User Base Jumps
MongoDB added 2,200 customers sequentially to reach 24,800 at the end of the quarter under review. Of this, more than 3,000 are direct-sales customers.
The company’s Atlas revenues soared 66% year over year, accounting for 49% of the company’s top line. Atlas had more than 23,300 customers at the end of the reported quarter, adding 2,200 customers sequentially.
MongoDB, Inc. Price, Consensus and EPS Surprise
MongoDB, Inc. price-consensus-eps-surprise-chart | MongoDB, Inc. Quote
Net ARR expansion rate remained above 120%. The company ended the quarter with 975 customers, with at least $100,000 in ARR and annualized MRR, compared with 898 in the year-ago quarter.
Operating Details
In the reported quarter, gross margin contracted 170 basis points (bps) on a year-over-year basis to 72.1%.
While research and development (R&D) expenses climbed 31.7% to $38.4 million, sales and marketing (S&M) expenses ascended 40.8% to $81 million. Moreover, general and administrative (G&A) expenses augmented 20% to $19.9 million.
However, as percentage of revenues, R&D expenses decreased 110 bps to 22.4%. G&A expenses declined 180 bps to 11.6%. As percentage of revenues, S&M expenses increased 80 bps on a year-over-year basis to 47.4%.
Loss from operations widened to $16 million from the year-ago quarter loss of $12 million.
Balance Sheet & Cash Flow
As of Jan 31, 2021, MongoDB had $957.7 million in cash, cash equivalents and short-term investments compared with $966.3 million as of Oct 31, 2020.
In the reported quarter, the company used $18.6 million of cash from operations and $0.8 million in capital expenditures. Free cash outflow was $20.7 million.
Key Q4 Highlights
During the reported quarter, the company announced the general availability of MongoDB Realm Sync, a fully managed service that synchronizes data between the Realmmobile database and Atlas.
MongoDB also launched a global partnership with the cloud service of Tencent (TCEHY - Free Report) . Moreover, the company expanded its partnership with Alphabet’s (GOOGL - Free Report) Google Cloud.
Markedly, MongoDB’s Atlas enables customers to run an application simultaneously across Google Cloud, Amazon Web Services and Microsoft’s (MSFT - Free Report) cloud offering, Azure.
Guidance
For first-quarter fiscal 2021, MongoDB expects revenues between $167 million and $170 million. The Zacks Consensus Estimate is pegged at $165.7 million, implying 26.9% growth from the figure reported in the year-ago quarter.
Non-GAAP loss from operations is anticipated to be $19-$21 million. Non-GAAP net loss is predicted between 36 cents and 39 cents per share. The consensus mark stands at a loss of 40 cents per share.
For fiscal 2022, MongoDB expects revenues between $745 million and $765 million. The Zacks Consensus Estimate is pegged at $733 million, implying 27.2% growth from the figure reported in the year-ago quarter.
Non-GAAP loss from operations is estimated to be $74-$84 million. Non-GAAP net loss is predicted between $1.39 and $1.55 per share. The consensus mark stands at a loss of $1.13 per share.
5 Stocks Set to Double
Each was hand-picked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.
Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.
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