![]() From these discussions, as well as our ongoing C-Suite dialog with our customers a few themes emerged.įirst, AI is in nearly every conversation with customers of all sizes. This quarter, we held our most recent global customer advisory board meeting, where customers across various geographies and industries came together to share feedback and insight about the experience using MongoDB. Finally, retention rates remained strong in Q3, reinforcing the mission criticality of our platform, even in a difficult spending environment. Michael will discuss consumption trends in more detail later. Moving on to Atlas consumption trends, the quarter played out in line with our expectations. In addition, our Enterprise Advanced business again exceeded our expectations, demonstrating strong demand for our platform and the appeal of our run-anywhere strategy. We had a healthy quarter of new business acquisitions, led by continued strength in new workload acquisition within our existing customers. We generated a non-GAAP operating income of $79 million for an 18% non-GAAP operating margin and we had another solid quarter of customer growth and in the quarter with over 46,400 customers. Atlas revenue grew 36% Year-over-Year, representing 66% of total revenue. We generated revenue of $433 million, a 30% year-over-year increase and above the high end of our guidance. I will start by reviewing our third-quarter results before giving you a broader company update. I'm pleased to report that we had another strong quarter as we continue to execute well, despite challenging market conditions. With that, I'd like to turn the call over to Dev.ĭev Ittycheria: Thank you, Brian, and thank you to everyone for joining us today. Please refer to the tables in our earnings release on the Investor Relations portion of our website for a reconciliation of these measures to their most directly comparable GAAP financial measure. Additionally, we will discuss non-GAAP financial measures on this conference call. Any forward-looking statements made on this call reflect our views only as of today and we undertake no obligation to update them except as required by law. These statements are subject to a variety of risks and uncertainties, including the results of operations and financial conditions that could cause actual results to differ materially from our expectations.įor a discussion of the material risks and uncertainties that could affect our actual results, please refer to the risks described in our quarterly report on Form 10-Q for the quarter ended July 31, 2023, that was filed with the SEC on September 1, 2023. During this call, we will make forward-looking statements, including statements related to our market and future growth opportunities, the benefits of our product platform, our competitive landscape, customer behaviors, our financial guidance, and our planned investments. Joining me on the call today are Dev Ittycheria, President and CEO of MongoDB and Michael Gordon, MongoDB's COO and CFO. Good afternoon, and thank you for joining us today to review MongoDB's Third Quarter Fiscal 2024 Financial Results, which we announced in our press release issued after the close of market today. ![]() I would like to turn the call to your host Mr. As a reminder, today's call is being recorded. After the speakers' presentation, there'll be a question-and-answer session. At this time, all participants are in a listen-only mode. Operator: Thank you for standing by and welcome to MongoDB's Q3 Fiscal Year 2024 Conference Call. Reported EPS is $0.96, expectations were $0.49. (NASDAQ: MDB) Q3 2024 Earnings Call Transcript December 5, 2023
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