MongoDB, Inc.

1. Organization and Description of Business

MongoDB, Inc. (“MongoDB” or the “Company”) was originally incorporated in the state of Delaware in November 2007 under the name 10Gen, Inc. In August 2013, the Company changed its name to MongoDB, Inc. MongoDB is the developer data platform company. The foundation of the Company’s offering is the leading, modern general purpose database, which is built on a unique document-based architecture. Organizations can deploy the Company’s database at scale in the cloud, on-premises, or in a hybrid environment. The Company’s robust platform enables developers to build and modernize applications rapidly and cost-effectively across a broad range of use cases. In addition to selling subscriptions to its software, the Company provides post-contract support, training and consulting services for its offerings. The Company’s fiscal year ends on January 31.

2. Summary of Significant Accounting Policies

Basis of Presentation

The accompanying condensed consolidated financial statements are unaudited and have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") for interim financial information and the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. These condensed consolidated financial statements include the accounts of the Company and all of its wholly-owned subsidiaries. The condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and in the opinion of management, reflect all adjustments, including normal recurring adjustments, which are considered necessary for the fair statement of the Company’s financial position, results of operations and cash flows for the interim periods presented. All intercompany transactions and accounts have been eliminated. The results of operations for the interim periods should not be considered indicative of results for the full year or for any other future year or interim period.

These condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in its Annual Report on Form 10-K for the fiscal year ended January 31, 2026 (the “2026 Form 10-K”).

Use of Estimates

The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting periods. Such estimates include, but are not limited to, revenue recognition, allowances for doubtful accounts, the period of benefit for deferred contract acquisition costs, the incremental borrowing rate related to the Company’s lease liabilities, stock-based compensation, legal contingencies, fair value of acquired intangible assets and goodwill, useful lives and carrying values of intangible assets and property and equipment, fair value of non-marketable securities and accounting for income taxes. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events.

Estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or adjust the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained and are recognized in the condensed consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s financial statements.

Segment Information

The Company’s chief operating decision maker (“CODM”), the Chief Executive Officer, manages the Company’s business activities as a single operating and reportable segment at the consolidated level. Accordingly, the CODM uses consolidated net income (loss) to make operating decisions, allocate resources and assess performance. The CODM uses consolidated net income (loss) to evaluate cost optimization and allocate resources, including personnel-related and financial or capital resources, in the annual budget and forecasting process, as well as budget-to-actual variances on a monthly basis. Further, the CODM reviews and utilizes functional expenses (cost of revenue, sales and marketing, research and development, and general and administrative) at the consolidated level to manage the Company’s operations. Other segment items included in consolidated net income (loss) are interest income, interest expense, other income (expense), net and the provision for income taxes, which are reflected in the condensed consolidated statements of operations.

Significant Accounting Policies

With the exception of the policy discussed below, there have been no changes to the Company’s significant accounting policies as described in the Company’s 2026 Form 10-K.

Treasury Stock

Treasury stock is accounted for using the cost method and recorded as a reduction to stockholders’ equity on the condensed consolidated balance sheets. Incremental direct costs to purchase treasury stock are included in the cost of the shares acquired. Upon the retirement of treasury stock, the excess of repurchase price over par value is recorded to additional paid-in capital to the extent available, with any remaining excess charged to retained earnings on the Company’s condensed consolidated balance sheets.

3. Fair Value Measurements

The following tables present information about the Company’s financial assets that have been measured at fair value on a recurring basis as of April 30, 2026 and January 31, 2026 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):

The Company utilized the market approach and Level 1 valuation inputs to value its money market funds and U.S. government treasury securities because published net asset values were readily available.

The following table summarizes the amortized cost and fair value of the Company’s short-term investments by remaining contractual maturity as of April 30, 2026 and January 31, 2026 (in thousands):

As of April 30, 2026 and January 31, 2026, net unrealized gains on the Company’s U.S. government treasury securities were approximately $1.0 million and $5.7 million, respectively. These unrealized gains and losses were caused by fluctuations in interest rates, which results in changes to the market value of these securities. Since the fluctuation in fair value is due to changes in interest rates and not credit quality, and because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be at maturity, the Company concluded that an allowance for credit losses was unnecessary for short-term investments as of April 30, 2026. Gross realized gains and losses were not material during both the three months ended April 30, 2026 and 2025. There were no material short-term investments in a continuous loss position for greater than twelve months.

Non-marketable Securities

As of April 30, 2026 and January 31, 2026, the total amount of non-marketable equity securities included in other assets on the Company’s condensed consolidated balance sheets were $37.7 million and $32.3 million, respectively. The Company invested an additional $3.0 million and $5.0 million of its cash in non-marketable equity securities during the three months ended April 30, 2026 and 2025, respectively. The Company recognized $6.5 million in unrealized gains and $9.9 million in realized gains on certain of these non-marketable securities during the three months ended April 30, 2026. There were immaterial unrealized losses andno realized gains or losses recognized during the three months ended April 30, 2025.

4. Goodwill and Intangible Assets, Net

The following table summarizes the changes in the carrying amount of goodwill during the periods presented (in thousands):

The gross carrying amount and accumulated amortization of the Company’s intangible assets were as follows (in thousands):

Intangible assets are primarily acquired through business combinations and are amortized on a straight-line basis. Amortization expense of intangible assets was $3.7 million and $3.1 million for the three months ended April 30, 2026 and 2025, respectively. Amortization expense for developed technology is included as cost of subscription revenue and research and development expense in the Company’s condensed consolidated statements of operations. Amortization expense for IP addresses is included as cost of subscription revenue in the Company’s condensed consolidated statements of operations.

As of April 30, 2026, future amortization expense related to the intangible assets is as follows (in thousands):

5. Leases

The Company has entered into non-cancelable operating and finance lease agreements, principally real estate for office space globally. The Company may receive renewal or expansion options, leasehold improvement allowances or other incentives on certain lease agreements. Lease terms range fromone to 12 years and may include renewal options, which the Company deems reasonably certain to be renewed. The exercise of the lease renewal option is at the Company's discretion.

Lease Costs

The components of the Company’s lease costs included in its condensed consolidated statements of operations were as follows (in thousands):

Balance Sheet Components

The balances of the Company’s finance and operating leases were recorded on the condensed consolidated balance sheets as follows (in thousands):

Maturities of Lease Liabilities

Future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of April 30, 2026 were as follows (in thousands):

In March 2026, the Company executed an operating lease agreement for an office space with an expected commencement date in the third quarter of fiscal year 2027. The lease term is approximately 10 years with undiscounted future minimum lease payments of approximately $29.5 million.

6. Commitments and Contingencies

Non-cancelable Material Commitments

During the three months ended April 30, 2026, other than certain non-cancelable operating leases described in Note 5, Leases, there have been no material changes outside the ordinary course of business to the Company’s contractual obligations and commitments from those disclosed in the 2026 Form 10-K.

Legal Matters

The Company investigates all claims, litigation and other legal matters as they arise. From time to time, the Company has become involved in claims, litigation and other legal matters arising in the ordinary course of business, including intellectual property, labor and employment and breach of contract claims. For example, on July 9, 2024, a putative class action lawsuit, captioned Baxter v. MongoDB, Inc., et al. (Case No. 1:24-cv-5191), was filed in the United States District Court for the Southern District of New York against MongoDB, former CEO Dev Ittycheria, and former COO and CFO Michael Gordon (the “Securities Action”). On January 27, 2025, the lead plaintiff in the lawsuit the Securities Action filed an

Amended Complaint naming former Senior Vice President of Finance and former Interim CFO Srdjan Tanjga as an additional defendant. The operative complaint asserts claims under Sections 10(b) and 20(a) of the Securities Exchange Act, and alleges that defendants made material misstatements and/or omissions, including regarding MongoDB’s sales strategy, growth projections and its financial results. The complaint is purportedly brought on behalf of a putative class of persons who purchased or otherwise acquired MongoDB common stock between June 1, 2023 and May 30, 2024. It seeks unspecified monetary damages, costs and attorneys’ fees, and other unspecified relief. Defendants filed a motion to dismiss the complaint on May 9, 2025. Plaintiffs filed an opposition brief on July 1, 2025, and defendants filed their reply brief on July 29, 2025. On May 1, 2026, the Court entered an order granting Defendants’ motion to dismiss in part and denying it in part, as it relates to four specific statements. On May 15, 2026, Defendants filed a motion for reconsideration of the Court’s order on the motion to dismiss. The Company is unable to estimate any reasonably possible loss, or range of loss, with respect to these matters at this time. The Company intends to vigorously defend itself in this matter.

On October 7, 2024, a purported shareholder derivative lawsuit was filed in the U.S. District Court for the Southern District of New York, captioned Roy v. Ittycheria et al.(Case. No. 1:24-cv-07594), against the Company, as a nominal defendant, and former CEO Dev Ittycheria, former COO and CFO Michael Gordon, and several of the Company’s current and former directors. The lawsuit alleges that the individual defendants breached their fiduciary duties and committed other alleged misconduct in connection with the statements at issue in the Securities Action and by causing the Company to issue allegedly false and misleading statements to investors. Another similar case, Silva v. Ittycheria et al.(Case No. 1:24-cv-9014) was subsequently filed in the same district on November 25, 2024 against MongoDB, as nominal defendant, and the same individual defendants as the Roy S.D.N.Y. action. It has been consolidated with the Roy action with the caption In re MongoDB, Inc. Shareholder Litigation (Case No. 1:24-cv-9014) (the “S.D.N.Y. Derivative Litigation”). On September 12, 2025 another purported derivative action was filed in the Court of Chancery of the State of Delaware (Case No. 2025-1030) (the “Delaware Derivative Litigation”), against the Company, as a nominal defendant, and former CEO Dev Ittycheria, former COO and CFO Michael Gordon, and several of the Company’s current and former directors. The case is captioned Sansone v. Ittycheria, et al. The lawsuit, like the S.D.N.Y. Derivative Litigation, alleges that the individual defendants breached their fiduciary duties and committed other alleged misconduct in connection with the statements at issue in the Securities Action and by causing the Company to issue allegedly false and misleading statements to investors. The S.D.N.Y. Derivative Litigation and the Delaware Derivative Litigation have been stayed pending the outcome of the Court’s decision on the defendants’ motion for reconsideration in the Securities Action.

Although claims and litigation are inherently unpredictable, as of April 30, 2026, other than as disclosed above, the Company is currently not aware of any matters that, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, financial position, results of operations or cash flows. The Company accrues estimates for resolution of legal and other contingencies when losses are probable and estimable. Regardless of the outcome, litigation can have an adverse impact on the Company because of defense and settlement costs, diversion of management resources and other factors.

Indemnification

The Company enters into indemnification provisions under its agreements with other companies in the ordinary course of business, including business partners, landlords, contractors and parties performing its research and development. Pursuant to these arrangements, the Company agrees to indemnify, hold harmless and reimburse the indemnified party for certain losses suffered or incurred by the indemnified party as a result of the Company’s activities. The terms of these indemnification agreements are generally perpetual. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable. To date, the Company has not incurred material costs as a result of such commitments. The Company maintains commercial general liability insurance and product liability insurance to offset certain of the Company’s potential liabilities under these indemnification provisions.

The Company has entered into indemnification agreements with each of its directors and executive officers. These agreements require the Company to indemnify such individuals, to the fullest extent permitted by Delaware law, for certain liabilities to which they may become subject as a result of their affiliation with the Company.

7. Revenue

Disaggregation of Revenue

The Company believes that the nature, amount, timing and uncertainty of its revenue and cash flows and how they are affected by economic factors is most appropriately depicted through the Company’s primary geographical markets and subscription product categories. The Company’s primary geographical markets are North and South America (“Americas”); Europe, Middle East and Africa (“EMEA”); and Asia Pacific. The Company also disaggregates its subscription products between its Atlas-related offerings and MongoDB Enterprise Advanced and other.

The following table presents the Company’s revenues disaggregated by geography, based on address of the Company's customers (in thousands):

The following table presents the Company’s revenues disaggregated by subscription product categories and services (in thousands):

Contract Liabilities

The Company’s contract liabilities are recorded as deferred revenue in the Company’s condensed consolidated balance sheets and consist of customer invoices issued or payments received in advance of revenues being recognized from the Company’s subscription and services contracts. Deferred revenue, including current and non-current balances, was $432.3 million and $470.7 million as of April 30, 2026 and January 31, 2026, respectively. Approximately 21% and 24% of the total revenue recognized for the three months ended April 30, 2026 and 2025, respectively, was from deferred revenue at the beginning of each respective period.

Remaining Performance Obligations

Remaining performance obligations represent the aggregate amount of the transaction price in contracts allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations include unearned revenue, multi-year contracts with future installment payments and certain unfulfilled orders against accepted customer contracts at the end of any given period. The Company applies the practical expedient to omit disclosure with respect to the amount of the transaction price allocated to remaining performance obligations if the related contract has a total duration of 12 months or less. As of April 30, 2026, the aggregate transaction price allocated to remaining performance obligations was $1,458.6 million. Approximately 53% is expected to be recognized as revenue over the next 12 months,46% in 13 to 36 months and the remainder thereafter. However, the amount and timing of revenue recognition are generally dependent upon customers’ future consumption, which is inherently variable at the customers’ discretion.

Unbilled Receivables

Revenue recognized in excess of invoiced amounts creates an unbilled receivable, which represents the Company’s unconditional right to consideration in exchange for goods or services that the Company has transferred to the customer. Unbilled receivables are recorded as part of accounts receivable, net in the Company’s condensed consolidated balance sheets. As of April 30, 2026 and January 31, 2026, unbilled receivables were $25.5 million and $19.8 million, respectively.

Allowance for Doubtful Accounts

The Company considers expectations of forward-looking losses, in addition to historical loss rates, to estimate its allowance for doubtful accounts on its accounts receivable. The following is a summary of the changes in the Company’s allowance for doubtful accounts (in thousands):

Costs Capitalized to Obtain Contracts with Customers

Deferred commissions were $360.9 million and $373.2 million as of April 30, 2026 and January 31, 2026, respectively, of which $231.0 million and $241.7 million comprised the non-current portion and was included in other assets on the Company’s consolidated balance sheets as of April 30, 2026 and January 31, 2026, respectively. Amortization expense with respect to deferred commissions, which is included in sales and marketing expense in the Company’s condensed consolidated statements of operations, was $35.0 million and $31.2 million during the three months ended April 30, 2026 and 2025, respectively. There wasno impairment loss recognized in relation to the costs capitalized for the periods presented.

8. Equity

Equity Incentive Plan

The Company adopted the 2008 Stock Incentive Plan (as amended, the “2008 Plan”) and the 2016 Equity Incentive Plan (as amended the “2016 Plan”), primarily for the purpose of granting stock-based awards to eligible employees, directors and consultants, including stock options, restricted stock units (“RSUs”), restricted stock awards (“RSAs”) and other stock-based awards. With the establishment of the 2016 Plan in December 2016, all shares available for grant under the 2008 Plan were transferred to the 2016 Plan. The Company no longer grants any stock-based awards under the 2008 Plan and any shares underlying stock options canceled under the 2008 Plan will be automatically transferred to the 2016 Plan.

Stock Options

The following table summarizes stock option activity for the three months ended April 30, 2026 (in thousands, except share, per share data and years):

Restricted Stock Units

The Company funds withholding taxes in certain jurisdictions due upon the vesting of employee restricted stock units (“RSUs”) and executive performance stock units (“PSUs”) by net share settlement. The amount of withholding taxes related to net share settlement of employee RSUs and executive PSUs are reflected as (i) a reduction to additional paid-in-capital, and (ii) cash outflows for financing activities when the payments are made. The shares withheld by the Company as a result of the net share settlement of RSUs and executive PSUs are not considered issued and outstanding, and do not impact the calculation of basic and diluted net income (loss) per share attributable to common stockholders.

The following table summarizes RSU activity for the three months ended April 30, 2026:

Restricted Stock Awards

The Company has granted restricted common stock outside of the 2008 and 2016 Plans. Restricted common stock is not deemed to be outstanding for accounting purposes until it vests. Refer to Note 5, Business Combinationsin the Notes to Consolidated Financial Statements included in Part II, Item 8 of the Company’s 2026 Form 10-K, for further details on the issuance of restricted stock awards in connection with the acquisition of Voyage AI.

The following table summarizes RSA activity for the three months ended April 30, 2026:

(1) Represents shares of common stock reacquired pursuant to the applicable restricted stock award agreements and included in repurchases of common stock on the Condensed Consolidated Statements of Stockholders’ Equity.

Executive Performance Share Units

The following table summarizes PSU activity for the three months ended April 30, 2026:

In January 2026, the Company granted PSUs with both service and market conditions, with an aggregate grant date fair value of $36.1 million under the 2016 Plan. The number of shares that may be earned under these PSUs with market conditions ranges from 0% to 200% of the target number of shares, based on the achievement of specified stock price targets over afive-year cumulative performance period beginning on the grant date. The market conditions are satisfied when the average closing price of the Company’s common stock over any 60 consecutive trading-day period during the performance period is equal to or exceeds stock price targets of $375.00, $400.00, $475.00 and $600.00. In addition, the PSUs with market conditions are subject to service-based vesting, under which up to 100%,125%,150% and 200% of the target number of shares may vest on January 31, 2027, January 31, 2028 and January 31, 2029, respectively, subject to the grantee’s continued service through each vesting date. On the date of grant, the Company assumes a performance factor of 100. As of April 30, 2026, the first stock price target has been achieved and there were approximately 51 thousand PSUs with market conditions outstanding.

2017 Employee Stock Purchase Plan

In October 2017, the Company’s Board of Directors adopted, and stockholders approved, the 2017 Employee Stock Purchase Plan (the “2017 ESPP”). Subject to any plan limitations, the 2017 ESPP allows eligible employees to contribute, normally through payroll deductions, up to 15% of their earnings for the purchase of the Company’s common stock at a discounted price per share. The Company’s current offering period began on December 16, 2025 and is expected to end June 16, 2026.

Stock-Based Compensation Expense

Total stock-based compensation expense recognized in the Company’s condensed consolidated statements of operations is as follows (in thousands):

Share Repurchase Program

In February 2025, the Company’s Board of Directors authorized a program to repurchase up to $200.0 million of the Company’s common stock (the “Share Repurchase Program”). Repurchases under the Share Repurchase Program may be effected through open market purchases, privately-negotiated transactions, or otherwise in accordance with applicable federal securities laws, including through Rule 10b5-1 trading plans and under Rule 10b-18 of the Securities Exchange Act of 1934. The timing and actual number of shares repurchased will depend on a variety of factors, including price, general business and market conditions and alternate uses of capital. The current authorization may be suspended or discontinued at any time and does not have a specified expiration date. In June 2025, the Company’s Board of Directors authorized an additional $800.0 million in repurchases under the Share Repurchase Program, bringing the aggregate authorized repurchase amount to $1.0 billion.

During the three months ended April 30, 2026, the Company repurchased 358,216 shares of common stock for $100.0 million. The average price per share for the three months ended April 30, 2026 was $285.25. All repurchases of common stock were made in open market transactions and recorded in treasury stock. As of April 30, 2026, the total remaining authorization under the Share Repurchase Program is $499.7 million.

9. Net Income (Loss) per Share

Basic net income (loss) per share attributable to common stockholders is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period. Diluted net income per share is computed by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock outstanding during the period, adjusted for the effects of dilutive shares of common stock, which are comprised of outstanding stock options, RSUs, RSAs, PSUs and ESPP obligations. Stock awards with performance or market conditions are included in dilutive shares to the extent all conditions are met. The potentially dilutive shares of common stock are computed using the treasury stock method. The effects of outstanding stock options, RSUs, RSAs, PSUs and ESPP obligations are excluded from the computation of diluted net income (loss) per share in periods in which the effect would be antidilutive.

The following table sets forth the computation of basic and diluted net income (loss) per share (in thousands, except share and per share data):

The following shares of common stock were excluded from the computation of diluted net income (loss) per share attributable to the Company for the periods presented because including them would have been anti-dilutive:

10. Income Taxes

The Company recorded a provision for income taxes of $4.4 million and $4.3 million for the three months ended April 30, 2026 and 2025, respectively. The provisions recorded during both the three months ended April 30, 2026 and 2025, were driven by an increase in global income and the associated foreign taxes as the Company continues its global expansion. The calculation of income taxes was based upon the estimated annual effective tax rates for the year applied to the jurisdictional mix of current period loss before tax plus the tax effect of any significant unusual items, discrete events or changes in tax law.

The Company regularly assesses the need for a valuation allowance against its deferred tax assets. The Company maintains a full valuation allowance for U.S and Ireland deferred tax assets, which is in place against the net deferred assets attributable to net operating loss carryforwards, tax credits and intangible assets. The Company expects to maintain these valuation allowances until it becomes more likely than not that the benefit of its deferred tax assets will be realized by way of sufficient positive evidence to support the reversal of all or some portion of this allowance. The Company regularly assesses all available evidence, including cumulative historic losses and forecasted earnings. Given the Company’s expected current earnings and anticipated future earnings, the Company believes that there is a reasonable possibility that within the next 12 months, sufficient positive evidence may become available to reach a conclusion that the U.S. valuation allowance will no longer be needed. Release of the valuation allowance would result in the recognition of material U.S. federal and state deferred tax assets and a corresponding decrease to income tax expense in the period the release is recorded. The exact timing and amount of the valuation allowance release are subject to change on the basis of the level of sustained U.S. profitability that the Company is able to actually achieve, as well as the amount of tax deductible stock compensation dependent upon the Company's publicly traded share price, foreign currency movements, and macroeconomic conditions, among other factors. The Company continues to monitor this on a quarterly basis.

The Company assesses uncertain tax positions in accordance with ASC 740-10, Accounting for Uncertainties in Tax. As of January 31, 2026, the Company’s net unrecognized tax benefits totaled $142.8 million, $4.7 million of which would have an impact on the Company’s effective tax rate if recognized.

On July 4, 2025, the One Big Beautiful Bill ("OBBBA") was signed into law. The OBBBA includes a broad range of U.S. tax reform measures, including, among other provisions, the immediate expensing of U.S. research and development expenditures. In accordance with ASC 740, we have recognized the effects of the new tax law in the period of enactment. As we maintain a full valuation allowance on its U.S. deferred tax assets, the legislation does not have a material impact on the Company’s condensed consolidated financial statements.

The Company continues to monitor and interpret the impact of proposed and enacted global tax legislation. To date, globally enacted tax legislation has not materially impacted income tax expense of the financial statements due to the presence of net operating losses and full valuation allowances within the Company’s two most significant tax jurisdictions, the United States and Ireland.

11. Subsequent Events

On May 8, 2026, the Company acquired all outstanding shares of Clarity Business Holdings, LLC, a services firm specializing in providing support and professional services to support modernizing legacy systems, scaling cloud-native development, and solving complex data challenges for workloads within the U.S. Government, in exchange for total consideration of approximately $16.0 million of cash, subject to customary adjustments. The Company is in the process of finalizing the accounting for this transaction and expects to complete the preliminary purchase price allocation in the second quarter of fiscal year 2027.