Summary by Moomoo AI
MongoDB, a leading developer data platform company, reported significant financial growth in its annual report for the fiscal year ended January 31, 2024. The company's total revenue reached $1.683 billion, a substantial increase from the previous year's $1.284 billion. This growth was primarily driven by a 32% increase in subscription revenue, which accounted for 97% of the total revenue. MongoDB's net loss improved to $176.6 million, down from $345.4 million in the previous year, reflecting more efficient sales and marketing spend and research and development costs. The company's operating cash flow turned positive at $121.5 million, compared to a negative $13.0 million in the prior year. MongoDB's business development saw a rise in MongoDB Atlas revenue, which represented 66% of total revenue, indicating the continued growth...Show More