Strong Revenue Growth
MongoDB, Inc. reported revenue of $549 million, a 22% year-over-year increase and above the high end of their guidance. Atlas revenue grew 26% year-over-year, representing 72% of total revenue.
Record Customer Growth
MongoDB, Inc. ended the quarter with over 57,100 customers, with total customer net adds being the highest in over six years. Atlas had over 55,800 customers at the end of the quarter.
Solid Operating Margin
The company generated non-GAAP operating income of $87 million for a 16% non-GAAP operating margin, a significant increase from 7% in the year-ago period.
Positive Cash Flow
Operating cash flow was $110 million and free cash flow was $106 million in Q1, up from $64 million and $61 million, respectively, in the year-ago period.
Expansion of Share Repurchase Program
The Board authorized an increase to the share repurchase program by up to an additional $800 million, bringing the total authorization to $1 billion.
Strategic Acquisition Enhances AI Capabilities
The acquisition of Voyage AI enhances MongoDB's ability to serve AI needs, significantly improving the accuracy and reliability of AI applications.