MongoDB added over 208 customers every single week during the past quarter – sending its multicloud DBaaS Atlas to a $2 billion run rate.
The company, which has seen significant leadership churn since longstanding CEO Dev Ittycheria announced his retirement in November, showed no signs of slowing growth under his replacement, ServiceNow veteran CJ Desai.
Reporting Q1 earnings late Friday, MongoDB said revenues of $688 million (over the high end of its guidance), reported a second consecutive quarter of GAAP profit, and announced the acquisition of Clarity Business Solutions.
The services partner provides “specialized support and professional services for highly classified workloads within the U.S. government” and its acquisition comes as MongoDB targets the government vertical more deeply.
CFO Michael Berry told analysts: “Our main growth driver continued to be the strength in use cases at established enterprise customers with momentum across the financial services, technology and media industries.”
Desai added: “We see tremendous opportunity in federal business, not only in the United States, but in Europe and other places” he cited the amount of unstructured data and documents that government customers have.
“I am 100% a believer that this is a large TAM for us. We have not invested significantly both from a go-to-market perspective… the good news is we will have FedRAMP high certification for U.S. federal this year,” he added.
MongoDB is also trying to chip away more at the AI-native space – and Desai boasted of “10-plus native integrations with LangChain for Vector Search, hybrid retrieval, semantic caching and agent memory” as well as the new MongoDB Checkpointer for LangSmith deployment, which collapses what he said “used to be a dedicated Postgres instance per agent into a single, shared Atlas cluster, state, memory and operational data unified in one place.”
Atlas was up 29.4% on-year. MongoDB ended the quarter with 67,700 customers. Speaking on a May 29 call, Desai touted Zoom as one enterprise customer that has moved from a “previously polyglot data estate…”
He said: “Zoom Meetings, Zoom Phone, Zoom Contact Center and Zoom Virtual Agent deployed across dozens of [MongoDB] clusters globally to deliver low latency, highly available communications at scale. By standardizing these workloads on MongoDB, Zoom gains a cloud-agnostic, hybrid deployment model that runs anywhere their business requires.”
MongoDB has a combined focus on both mission-critical enterprise workloads and emerging more AI-centric ones. It has appointed two Chief Product Officers to focus on these markets respectively, with Ben Cefalo owning core products, and Pablo Stern as CPO for AI and Emerging Products.
Stern, like new Chief Customer Officer Erica Volini, and Desai himself, joined from ServiceNow; also new is Chief Revenue Officer Ryan Mac Ban.
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