Billion Dollar Unicorn: MongoDB Post IPO Review

According to a recent Market Research Media report, the global NoSQL database market is estimated to grow 21% annually over the next few years to become a $3.4 billion industry by 2024. Billion Dollar Unicorn MongoDB (Nasdaq:MDB) recently announced mixed first quarter results. Its stock has been performing well since it went public last year.

MongoDB’s Financials

Its recently announced first quarter revenues grew 49% over the year to $48.2 million. Subscription revenues grew 53% to $44.6 million, services revenues grew 14% to $3.7 million. For the quarter, net loss grew from $19.7 million a year ago to $29.2 million, or $0.58 per share. Non-GAAP net loss also increased from $15.3 million a year ago to $21.6 million, or $0.43 per share. The Street had forecast revenues of $46.4 million for the quarter with a loss of $0.43 per share.

For the current quarter, it expects revenues of $51-$52 million with a non-GAAP net loss of $0.46-$0.45 per share. The market was looking for revenues of $51.8 million for the quarter with a loss of $0.46 per share. The company expects to end the current year with revenues of $217-$220 million and a net loss of $1.66-$1.62 per share. The market was forecasting revenues of $214.4 million with a net loss of $1.63 per share.

MongoDB’s Expansion Plan

MongoDB remains focused on expansion through improved product offerings. It recently announced the release of a version that will be optimized for Kubernetes and microservices. The latest upgrade of its platform also features the addition of multi-document ACID transactions to simplify the ability to address a complete range of use cases. The platform will provide a consistent view of data across replica sets and thus enforce all-or-nothing execution to maintain data integrity.

It also announced the general availability of MongoDB Stitch that will allow developers to run JavaScript functions in Stitch’s serverless environment. Stitch QueryAnywhere will help application developers build secure APIs and to build integrations with microservices and server-side logic. The service also includes Stitch Triggers or real-time notifications that automatically invoke functions in response to changes in the database, taking actions as they happen in applications, other services, or the database itself.

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Disclosure: More investigation and analysis of Unicorn companies can be found in my latest Entrepreneur Journeys book,  more

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