MongoDB Inc - Ordinary Shares - Class A

Strong Q1 results; Atlas-led growth - Total revenue: $688M, +25% YoY, beating the high end of guidance and accelerating from 22% growth in the prior-year quarter. - Atlas consumption strength drove results: Atlas revenue +29% YoY, including record $117M of year-over-year dollar growth; Atlas is now ~75% of Q1 revenue (from 72% a year ago). - EA and other revenue: +13% YoY (supporting durability of non-Atlas growth).

Profitability + cash generation; GAAP profitability trending - Non-GAAP gross margin 74.5%; non-GAAP operating income $123M and non-GAAP operating margin 18% (up from 16% YoY). - GAAP profitability achieved for the second quarter in a row (noted as a positive trend). - Cash: Operating cash flow $202M; free cash flow $198M. - Buybacks: $100M share repurchases in the quarter (plus $58M for RSU tax settlements).

Customer and “platform adoption” signals (including AI/agentic) - Customer count: 67.7k customers, +2.5k sequentially; +10.6k YoY. - “Large customer” cohort (Atlas customers with $100k+ ARR): 16% YoY growth; among them, 45% use 2+ Atlas features (up from 37% YoY), driven largely by vector + text search. - AI adoption momentum: MCP server usage growing significantly, Voyage customers doubled QoQ, and vector search adoption outpacing company growth. - Surprising/important qualitative point: agentic conversations are moving from experimentation toward production deployment, but CJ stresses it’s still early.