MDBMEDIUM SIGNALOPPORTUNITY10-K

MongoDB delivered solid revenue growth of 22.8% while meaningfully reducing operating losses and cutting capital expenditures significantly.

The company appears to be maturing operationally, with strong top-line growth accompanied by improved operational efficiency as evidenced by substantially reduced losses. The dramatic 83% reduction in capital expenditures suggests either completion of major infrastructure investments or a more disciplined approach to spending.

Comparing 2026-03-11 vs 2025-03-21View on EDGAR →
FINANCIAL ANALYSIS

MongoDB showed strong fundamental progress with revenue growing 22.8% to $2.5B and gross profit expanding 20.2% to $1.8B, while operating losses narrowed meaningfully from -$216.1M to -$137.0M and net losses improved from -$129.1M to -$71.2M. The company significantly reduced capital expenditures by 83% and cut interest expenses, while R&D spending increased 20% indicating continued investment in growth. Balance sheet expansion was modest with receivables and liabilities growing in line with business scale, suggesting healthy operational momentum.

FINANCIAL STATEMENT CHANGES
Capital Expenditure
Cash Flow
-83.2%
$29.6M→$5.0M

Capex reduced 83.2% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Interest Expense
P&L
-61.3%
$8.1M→$3.1M

Interest expense declined — debt repayment or refinancing at lower rates improving earnings quality.

Net Income
P&L
+44.9%
-$129.1M→-$71.2M

Net income grew 44.9% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+36.6%
-$216.1M→-$137.0M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Accounts Receivable
Balance Sheet
+26.9%
$393.1M→$499.0M

Receivables grew 26.9% — monitor days sales outstanding for collection efficiency.

Total Liabilities
Balance Sheet
+24.4%
$648.1M→$806.5M

Liabilities increased 24.4% — monitor debt-to-equity ratio and interest coverage.

Revenue
P&L
+22.8%
$2.0B→$2.5B

Revenue growing 22.8% — solid top-line momentum, watch margins for quality of growth.

Gross Profit
P&L
+20.2%
$1.5B→$1.8B

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

R&D Expense
P&L
+20%
$596.8M→$716.3M

R&D investment increased 20% — signals commitment to future product development, though near-term margin impact.

Current Liabilities
Balance Sheet
+19.1%
$562.0M→$669.5M

Current liabilities rose 19.1% — increased short-term obligations, watch current ratio.

LANGUAGE CHANGES
NEW — 2026-03-11
PRIOR — 2025-03-21
ADDED
As of March 9, 2026, there were 80,369,527 shares of the registrant s common stock, par value $0.001 per share, outstanding.
Built on our unique document-based architecture, our database is designed to handle unstructured data and meet the needs of organizations for performance, scalability, flexibility and reliability while maintaining the strengths of relational databases.Every software application requires a database to store, organize and process data.
These complementary capabilities of our platform include: Search.
Allows a database to search and filter data while it remains fully encrypted.
This technology increases security and compliance by ensuring sensitive information is never visible to database administrators, cloud providers, or potential hackers.
In February 2025, we acquired all outstanding shares of Voyage AI Innovations, Inc.
Voyage AI was a pioneer in state-of-the-art embedding and reranking models that power next-generation AI applications.
These models improve the accuracy of data retrieval and reduce the risk of AI hallucinations, which has been a primary factor limiting generative AI adoption.
Integrating Voyage AI s technology with MongoDB s data platform capabilities will enable organizations to confidently, cost effectively, and securely build trustworthy, AI powered applications that deliver more accurate and reliable results at scale.
We believe the market for our offerings is large and growing.
REMOVED
As of March 18, 2025, there were 81,187,663 shares of the registrant s common stock, par value $0.001 per share, outstanding.
Form 10-K Summary 106 Table of Content s General Unless the context otherwise indicates, references in this report to the terms MongoDB, the Company, we, our and us refer to MongoDB, Inc., its divisions and its subsidiaries.
2 Table of Content s The foundation of our platform is the world s leading, modern general purpose database.
Built on our unique document-based architecture, our database is designed to meet the needs of organizations for performance, scalability, flexibility and reliability while maintaining the strengths of relational databases.
Every software application requires a database to store, organize and process data.
These complementary capabilities of our platform include: Search .
According to IDC, the worldwide Data Management Software market, was $94 billion in 2023 growing to approximately $170 billion in 2028.
We believe these developments in coding assistant technology will further benefit the data management software market.
In 2023, we announced the general availability of Relational Migrator, a tool that makes it easier for customers to migrate their existing applications from their legacy relational databases to MongoDB.
While the percentage varies from quarter to quarter, over the past fiscal year, more than one fifth of our new business related to MongoDB Enterprise Advanced, our proprietary commercial database offering, resulted from applications that were migrated from legacy relational databases.
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