MongoDB Inc - Ordinary Shares - Class A

Strong Q3 Performance and Revenue Growth: MongoDB reported total revenue of $529 million for Q3 FY 2025, representing a 22% year-over-year increase, surpassing guidance expectations. Atlas revenue grew 26% year-over-year and accounted for 68% of total revenue, demonstrating robust demand for its cloud database services.

Challenges with Customer Consumption Trends: Despite positive overall growth, Atlas consumption showed signs of deceleration compared to prior year periods. Q3 consumption growth remained below previous benchmarks, raising concerns about continued customer engagement and utilization of the platform as the company anticipates seasonal slowdowns in Q4.

Enterprise Strategy and Long-term Opportunities: MongoDB is reallocating resources to focus on enterprise customers, recognizing the potential for larger account growth over time. The company aims to capitalize on its technical advantages in AI applications and modernizing legacy systems, driven by significant customer interest in transforming older infrastructures to more agile solutions.