MongoDB, Inc.

Previous wording

We generate revenue primarily from sales of subscriptions, which accounted for 97% of our total revenue during thethree months ended April 30, 2026 and 2025.

Current wording

We generate revenue primarily from sales of subscriptions, which accounted for 97%of our total revenue during each of the three andsix months ended July 31, 2026 and 2025.

Previous wording

Atlas is our hosted multi-cloud database-as-a-service (“DBaaS”) offering, which we run and manage in the cloud, and includes comprehensive infrastructure and management, as well as a host of additional features, such as Atlas Search, Vector Search, time series, data lifecycle, application-driven analytics and stream processing. During the three months ended April 30, 2026, Atlas revenue represented 75%, as compared to 72% of our total revenue during the three months ended April 30, 2025, respectively, reflecting the continued growth of Atlas since its introduction in June 2016. We have experienced strong growth in self-serve customers of Atlas, which are charged monthly in arrears based on their usage. We have also seen growth in Atlas customers sold by our sales force, which typically sign annual contracts and pay in advance or are invoiced monthly in arrears based on usage. Customers sold by our sales force may also sign contracts that remain in effect until terminated and are invoiced monthly in arrears based on usage. We expect to continue to see a higher portion of our Atlas contracts to be billed monthly in arrears based on usage without requiring upfront commitments.

Current wording

Atlas is our hosted multi-cloud database-as-a-service (“DBaaS”) offering, which we run and manage in the cloud, and includes comprehensive infrastructure and management, as well as a host of additional features, such as Atlas Search, Vector Search, time series, data lifecycle, application-driven analytics and stream processing. During the three and six months ended July 31, 2026, Atlas revenue represented 73% and 74%, respectively, as compared to 74% and 73% of our total revenue during the three and six months ended July 31, 2025, respectively, reflecting the continued growth of Atlas since its introduction in June 2016. We have experienced strong growth in self-serve customers of Atlas, which are charged monthly in arrears based on their usage. We have also seen growth in Atlas customers sold by our sales force, which typically sign annual contracts and pay in advance or are invoiced monthly in arrears based on usage. Customers sold to by our sales force may also sign contracts that remain in effect until terminated and are invoiced monthly in arrears based on usage. We expect to continue to see a higher portion of our Atlas contracts to be billed monthly in arrears based on usage without requiring upfront commitments.

Previous wording

MongoDB Enterprise Advanced is our proprietary commercial database server offering for enterprise customers that can run in the cloud, on-premises or in a hybrid environment. MongoDB Enterprise Advanced revenue represented 21% and 22% of our subscription revenue during the three months ended April 30, 2026 and 2025, respectively. We sell subscriptions directly through our field and inside sales teams, as well as indirectly through channel partners. The majority of our subscription contracts are one year in duration and are invoiced upfront. When we enter into multi-year subscriptions, the customer is typically invoiced on an annual basis or pays upfront.

Current wording

MongoDB Enterprise Advanced is our proprietary commercial database server offering for enterprise customers that can run in the cloud, on-premises or in a hybrid environment. MongoDB Enterprise Advanced revenue represented 21% of our subscription revenue during each of the three and six months ended July 31, 2026 and 2025. We sell subscriptions directly through our field and inside sales teams, as well as indirectly through channel partners. The majority of our subscription contracts are one year in duration and are invoiced upfront. When we enter into multi-year subscriptions, the customer is typically invoiced on an annual basis or, in certain cases, upfront for the full contract term.

Previous wording

Many of our enterprise customers initially get to know our software by using Community Server, which is our free-to-download version of our database that includes the core functionality developers need to get started with MongoDB without all the features of our commercial platform. Our platform has been downloaded from our website more than 750 million times since February 2009. We also offer a free tier of Atlas, which provides access to our hosted database solution with limited processing power and storage, as well as certain operational limitations. As a result, with the availability of both Community Server and Atlas free tier offerings, our direct sales prospects are often familiar with our platform and may have already built applications using our technology. A core component of our growth strategy for Atlas and MongoDB Enterprise Advanced is to convert developers and their organizations who are already using Community Server or the free tier of Atlas to become customers of our commercial products and enjoy the benefits of either a self-managed or hosted offering.

Current wording

Many of our enterprise customers initially get to know our software by using Community Server, which is our free-to-download version of our database that includes the core functionality developers need to get started with MongoDB without all the features of our commercial platform. Our platform has been downloaded from our website more than 800 million times since February 2009. We also offer a free tier of Atlas, which provides access to our hosted database solution with limited processing power and storage, as well as certain operational limitations. As a result, with the availability of both Community Server and Atlas free tier offerings, our direct sales prospects are often familiar with our platform and may have already built applications using our technology. A core component of our growth strategy for Atlas and MongoDB Enterprise Advanced is to convert developers and their organizations who are already using Community Server or the free tier of Atlas to become customers of our commercial products and enjoy the benefits of either a self-managed or hosted offering.

Previous wording

We also generate revenue from services, which consist primarily of fees associated with consulting and training services. Revenue from services accounted for 3%of our total revenue for thethree months ended April 30, 2026 and 2025. We expect to continue to invest in our services organization as we believe it plays an important role in accelerating our customers’ realization of the benefits of our platform, which helps drive customer retention and expansion.

Current wording

We also generate revenue from services, which consist primarily of fees associated with consulting and training services. Revenue from services accounted for 3%of our total revenue for each of the three andsix months ended July 31, 2026 and 2025. We expect to continue to invest in our services organization as we believe it plays an important role in accelerating our customers’ realization of the benefits of our platform, which helps drive customer retention and expansion.

Previous wording

We compete in the database management software market, which is one of the largest in the software industry and growing. According to the International Data Corporation (IDC)’s Worldwide Database Management Systems Software Forecast, 2025-2029, the worldwide Database Management Software market was $93 billion in 2024, and is expected to grow to approximately $169 billion in 2029. This represents a 13% five-year compound annual growth rate. Over the last two years, a number of companies launched code assistant tools, which leverage generative AI to help developers write and test their code faster, thereby accelerating application development. We believe this acceleration in application development will further benefit the database management software market, by increasing the volume of new software and demand for scalable, flexible data platforms to manage the resulting growth of data.

Current wording

We compete in the database management software market, which is one of the largest in the software industry and growing. According to the IDC’s Semiannual Software Tracker, May 2026, the worldwide Database Management Software market was $108 billion in 2025, and is expected to grow to approximately $193 billion in 2030. This represents a 12% five-year compound annual growth rate. Over the last two years, a number of companies launched code assistant tools, which leverage generative AI to help developers write and test their code faster, thereby accelerating application development. We believe this acceleration in application development will further benefit the database management software market, by increasing the volume of new software and demand for scalable, flexible data platforms to manage the resulting growth of data.

Previous wording

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. 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.

Current wording

During the six months ended July 31, 2026, the Company repurchased 666,452 shares of common stock for $200.0 million and the average price per share for the six months ended July 31, 2026 was $300.10. All repurchases of common stock were made in open market transactions and recorded in treasury stock. As of July 31, 2026, the total remaining authorization under the Share Repurchase Program is $399.7 million.

Previous wording

We intend to continue to invest in our engineering capabilities and marketing activities to maintain our strong position in the developer community. We have spent $3.4 billion on research and development since our inception. Our results of operations may fluctuate as we make these investments to drive increased customer adoption and usage.

Current wording

We intend to continue to invest in our engineering capabilities and marketing activities to maintain our strong position in the developer community. We have spent $3.6 billion on research and development since our inception. Our results of operations may fluctuate as we make these investments to drive increased customer adoption and usage.

Previous wording

We are intensely focused on continuing to grow our customer base. We have invested, and expect to continue to invest, in our sales and marketing efforts and developer community outreach, which are critical to driving customer acquisition. As of April 30, 2026, we had over 67,700 customers across a wide range of industries and in over 100 countries, compared to over 57,100 customers as of April 30, 2025. All affiliated entities are counted as a single customer and our definition of “customer” excludes users of our free offerings.

Current wording

We are intensely focused on continuing to grow our customer base. We have invested, and expect to continue to invest, in our sales and marketing efforts and developer community outreach, which are critical to driving customer acquisition. As of July 31, 2026, we had over 70,600 customers across a wide range of industries and in over 100 countries, compared to over 59,900 customers as of July 31, 2025. All affiliated entities are counted as a single customer and our definition of “customer” excludes users of our free offerings.

Previous wording

We are also focused on increasing the number of overall Atlas customers as we emphasize the on-demand scalability of Atlas by allowing our customers to consume the product with minimal commitment. We had over 66,400 Atlas customers as of April 30, 2026 compared to over 55,800 as of April 30, 2025. The growth in Atlas customers included new customers to MongoDB and existing MongoDB Enterprise Advanced customers adding incremental Atlas workloads.

Current wording

We are also focused on increasing the number of overall Atlas customers as we emphasize the on-demand scalability of Atlas by allowing our customers to consume the product with minimal commitment. We had over 69,300 Atlas customers as of July 31, 2026 compared to over 58,500 as of July 31, 2025. The growth in Atlas customers included new customers to MongoDB and existing MongoDB Enterprise Advanced customers adding incremental Atlas workloads.

Previous wording

We calculate annualized recurring revenue (“ARR”) to help us measure our subscription revenue performance. ARR includes the revenue we expect to receive from our customers over the following 12 months based on contractual commitments and, in the case of direct sales customers of Atlas, by annualizing the prior 90 days of their actual usage of Atlas, assuming no increases or reductions in their subscriptions or usage. For all other customers of our self-serve products, we calculate ARR by annualizing the prior 30 days of their actual usage of such products, assuming no increases or reductions in usage. ARR excludes professional services. The number of customers with $100,000 or greater in ARR was 2,895 and 2,506 as of April 30, 2026 and 2025, respectively. Our ability to increase sales to existing customers will depend on a number of factors, including customers’ satisfaction or dissatisfaction with our products and services, competition, pricing, economic conditions or overall changes in our customers’ spending levels.

Current wording

We calculate annualized recurring revenue (“ARR”) to help us measure our subscription revenue performance. ARR includes the revenue we expect to receive from our customers over the following 12 months based on contractual commitments and, in the case of direct sales customers of Atlas, by annualizing the prior 90 days of their actual usage of Atlas, assuming no increases or reductions in their subscriptions or usage. For all other customers of our self-serve products, we calculate ARR by annualizing the prior 30 days of their actual usage of such products, assuming no increases or reductions in usage. ARR excludes professional services. The number of customers with $100,000 or greater in ARR was 2,999 and 2,564 as of July 31, 2026 and 2025, respectively. Our ability to increase sales to existing customers will depend on a number of factors, including customers’ satisfaction or dissatisfaction with our products and services, competition, pricing, economic conditions or overall changes in our customers’ spending levels.

Previous wording

We also examine the rate at which our customers increase their spend with us, which we call net ARR expansion rate. We calculate net ARR expansion rate by dividing the ARR at the close of a given period (the “measurement period”), from customers who were also customers at the close of the same period in the prior year (the “base period”), by the ARR from all customers at the close of the base period, including those who churned or reduced their subscriptions. As of April 30, 2026, our net ARR expansion rate was 121%. Our net ARR expansion rate may fluctuate in future periods due to a variety of factors, including the volume and type of workloads that we onboard, growth rate of historical workloads on our platform and changes in the macroeconomic environment.

Current wording

We also examine the rate at which our customers increase their spend with us, which we call net ARR expansion rate. We calculate net ARR expansion rate by dividing the ARR at the close of a given period (the “measurement period”), from customers who were also customers at the close of the same period in the prior year (the “base period”), by the ARR from all customers at the close of the base period, including those who churned or reduced their subscriptions. As of July 31, 2026, our net ARR expansion rate was 122%. Our net ARR expansion rate may fluctuate in future periods due to a variety of factors, including the volume and type of workloads that we onboard, growth rate of historical workloads on our platform and changes in the macroeconomic environment.

Previous wording

The increase in subscription cost of revenue was primarily due to a $28.5 million increase in third‑party cloud infrastructure costs, including costs associated with the growth of Atlas and an increase of $3.1 million in personnel costs. The increase in third-party cloud infrastructure costs was partially offset by continued cost efficiencies realized as we scale Atlas. The decrease in services cost of revenue was primarily due to a decrease in third-party consultant costs related to the delivery of consulting and training services.

Current wording

The increase in subscription cost of revenue was primarily due to a $31.4 million increase in third‑party cloud infrastructure costs, including costs associated with the growth of Atlas and an increase of $2.3 million in personnel costs. The increase in third-party cloud infrastructure costs was partially offset by continued cost efficiencies realized as we scale Atlas. The decrease in services cost of revenue was primarily due to a decrease in third-party consultant costs related to the delivery of consulting and training services.

Previous wording

Our overall gross margin increased to 72%. Our subscription gross margin decreased to 75% due to an increase in subscription cost of revenue from Atlas as a percentage of our total revenue. Services gross margin increased due to the impact of lower third-party consultant and training costs.

Current wording

Our overall gross margin increased to 74%. Our subscription gross margin increased to 77% primarily due to a shift in subscription revenue mix toward MongoDB Enterprise Advanced and other revenue products. Services gross margin increased due to the impact of lower third-party consultant costs.

Previous wording

The increase in research and development expense was primarily driven by a $23.4 million increase in personnel costs and stock-based compensation, a $4.2 million increase in software costs, and a $3.9 million increase in third-party infrastructure expenses to support ongoing product development and testing activities.

Current wording

The increase in research and development expense was primarily driven by a $16.7 million increase in personnel costs and stock-based compensation, an $8.1 million increase in third-party infrastructure expenses to support ongoing product development and testing activities and a $7.0 million increase in software costs due to an increase in the use of AI tools.

Previous wording

Total revenue growth reflects increased demand for our products and related services. Subscription revenue increased by $134.7 million primarily due to an increase in consumption of Atlas by our large existing customers as evidenced by our net ARR expansion rate of 121% as of April 30, 2026.

Current wording

Total revenue growth reflects increased demand for our products and related services. Subscription revenue increased by $309.5 million primarily due to an increase in consumption of Atlas by our large existing customers and growth in MongoDB Enterprise Advanced, reflecting ongoing expansion within our customer base, as evidenced by our net ARR expansion rate of 122% as of July 31, 2026.

Previous wording

The increase in sales and marketing expense was primarily driven by a $9.7 million increase in personnel costs, a $8.2 million increase in travel-related expenses due to internal travel for our annual sales kickoff event, a $7.5 million increase in commissions, and a $6.1 million increase in spend on in-person events and digital marketing programs. The increase in sales and marketing was partially offset by a $6.4 million decrease in stock-based compensation.

Current wording

The increase in sales and marketing expense was primarily driven by a $12.0 million increase in commissions, an $11.2 million increase in spend on in-person events and digital marketing programs, a $10.9 million increase in personnel costs, and a $7.9 million increase in travel-related expenses due to internal travel for our annual sales kickoff event that occurred in the first quarter of fiscal 2027. The increase in sales and marketing was partially offset by a $7.0 million decrease in stock-based compensation.

Previous wording

The increase in general and administrative expense was primarily driven by a $14.4 million increase in personnel costs and stock-based compensation.

Current wording

The increase in general and administrative expense was primarily driven by a $28.6 million increase in personnel costs and stock-based compensation.

Previous wording

Other income, net, for the three months ended April 30, 2026 increased primarily due to realized and unrealized gains recognized from our non-marketable securities.

Current wording

Other income, net, for the six months ended July 31, 2026 increased primarily due to realized and unrealized gains recognized from our non-marketable securities, partially offset by lower short-term income from our short-term investments.

Previous wording

In June 2025, our 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, under the Share Repurchase Program, we 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. Refer to Note 8, Equity, in our Notes to Condensed Consolidated Financial Statements included in Part I, Item 1, and “Purchases of Equity Securities by the Issuer”included in Part II, Item 2 of this Quarterly Report on Form 10-Q for further details.

Current wording

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 six months ended July 31, 2026, the Company repurchased 666,452 shares of common stock for $200.0 million and the average price per share repurchased during the six months ended July 31, 2026 was $300.10. Refer to Note 9, Equity, in our Notes to Condensed Consolidated Financial Statements included in Part I, Item 1, and “Purchases of Equity Securities by the Issuer”included in Part II, Item 2 of this Quarterly Report on Form 10-Q for further details.

Previous wording

In October 2025, we began funding withholding taxes in certain jurisdictions due on the vesting of employee RSUs by net share settlement, rather than our previous approach of selling shares of our common stock to cover taxes upon vesting of such awards. The amount of withholding taxes paid related to net share settlement of employee RSUs was $58.3 million for the three months ended April 30, 2026.

Current wording

In October 2025, we began funding withholding taxes in certain jurisdictions due on the vesting of employee RSUs by net share settlement, rather than our previous approach of selling shares of our common stock to cover taxes upon vesting of such awards. The amount of withholding taxes paid related to net share settlement of employee RSUs was $117.7 million for the six months ended July 31, 2026.

Previous wording

Net cash provided by operating activities during the three months ended April 30, 2026 was $201.6 million, and reflects our net income of $4.4 million, adjusted by non-cash items such as $137.8 million of stock‑based compensation, $16.4 million of net realized and unrealized gains on financial instruments, $5.6 million of depreciation and amortization, and net cash provided by changes in operating assets and liabilities of $67.6 million. The net cash provided by changes in operating assets and liabilities primarily consisted of an increase in cash collected from customers resulting from an increase in sales as evidenced through a net increase in cash of $73.1 million from changes in accounts receivable and deferred revenue. Additionally, a decrease of $12.2 million in deferred commissions primarily due to amortization exceeding current-period capitalization. Partially offsetting these benefits to our operating cash flow were increases in prepaid expenses and other assets of $12.3 million and a decrease of $2.3 million of accrued liabilities and accounts payable.

Current wording

Net cash provided by operating activities during the six months ended July 31, 2026 was $343.5 million, and reflects our net income of $45.4 million, adjusted by non-cash items such as $286.8 million of stock‑based compensation, $16.6 million of net realized and unrealized gains on financial instruments, $11.5 million of depreciation and amortization, and net cash provided by changes in operating assets and liabilities of $10.6 million. The net cash provided by changes in operating assets and liabilities primarily consisted of an increase in cash collected from customers resulting from an increase in sales as evidenced through a net increase in cash of $19.5 million from changes in accounts receivable and deferred revenue. Additionally, a decrease of $10.1 million in deferred commissions primarily due to amortization exceeding current-period capitalization. Partially offsetting these benefits to our operating cash flow were increases in prepaid expenses and other assets of $30.5 million and a decrease of $17.5 million of accrued liabilities and accounts payable.

Previous wording

Net cash provided by operating activities during the three months ended April 30, 2025 was $109.9 million, driven primarily by an increase in our cash collections reflecting the overall growth of our sales and expansion of our customer base. Accordingly, our accounts receivable decreased by $79.9 million. In addition, our net loss of $37.6 million, includes non‑cash charges of $132.4 million for stock‑based compensation, $5.3 million for depreciation and amortization and other net non-cash charges of $1.5 million. Partially offsetting these benefits to our operating cash flow were a decrease in deferred revenue by $39.6 million, a decrease in accrued liabilities by $19.4 million and an increase in other long-term assets of $12.6 million.

Current wording

Net cash provided by operating activities during the six months ended July 31, 2025 was $182.0 million, driven primarily by an increase in our cash collections reflecting the overall growth of our sales and expansion of our customer base. Accordingly, our accounts receivable decreased by $41.8 million. In addition, our net loss of $84.7 million, includes non‑cash charges of $272.8 million for stock‑based compensation, $11.0 million for depreciation and amortization and deferred commissions of $14.5 million. Partially offsetting these benefits to our operating cash flow were a decrease in deferred revenue of $49.5 million, an increase in other long-term assets of $11.1 million, and a decrease in other net non-cash charges of $12.8 million.

Previous wording

Net cash used in investing activities during the three months ended April 30, 2026 was $86.9 million, due to purchases of marketable securities, net of maturities, of $92.3 million, purchases of property and equipment of $2.3 million, partially offset by proceeds from non-marketable securities, net of investments made, of $7.7 million.

Current wording

Net cash used in investing activities during the six months ended July 31, 2026 was $123.6 million, due to purchases of marketable securities, net of maturities, of $117.3 million, payments related to a business combination, net of cash acquired of $9.2 million and purchases of property and equipment of $4.8 million, partially offset by proceeds from non-marketable securities, net of investments made, of $7.7 million.

Previous wording

Net cash provided by investing activities during the three months ended April 30, 2025 was $51.6 million, due to proceeds from maturities of marketable securities, net of purchases, of $60.0 million, partially offset by cash used for investments in non-marketable securities of $4.8 million, payments related to a business combination, net of cash acquired of $2.0 million and purchases of property and equipment of $1.6 million.

Current wording

Net cash provided by investing activities during the six months ended July 31, 2025 was $141.2 million, due to proceeds from maturities of marketable securities, net of purchases, of $153.7 million, partially offset by, cash used for investments in non-marketable securities of $8.3 million, purchases of property and equipment of $2.1 million and payments related to a business combination, net of cash acquired of $2.0 million.

Previous wording

Net cash used in financing activities during the three months ended April 30, 2026 was $159.9 million, due to repurchases of common stock of $100.3 million and $58.3 million due to taxes paid related to net share settlement of equity awards.

Current wording

Net cash used in financing activities during the six months ended July 31, 2026 was $296.8 million, due to repurchases of common stock of $200.3 million and $117.7 million due to taxes paid related to net share settlement of equity awards, partially offset by $24.7 million due to proceeds from the issuance of common stock under the Employee Stock Purchase Plan and exercise of options.

Previous wording

Net cash used in financing activities during the three months ended April 30, 2025 was $1.8 million, due to principal payments of finance leases of $2.4 million, partially offset by proceeds from the exercises of stock options of $0.6 million.

Current wording

Net cash used in financing activities during the six months ended July 31, 2025 was $173.8 million, due to repurchases of common stock of $194.4 million and principal payments of finance leases of $4.1 million, offset by proceeds from the issuance of common stock under the Employee Stock Purchase Plan of $22.9 million and proceeds from the exercises of stock options of $1.8 million.