MongoDB, Inc. (NASDAQ:MDB) Q1 2020 Earnings Conference Call Transcript

Jun 05, 2019 • 05:00 pm ET

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MongoDB, Inc. (NASDAQ:MDB) Q1 2020 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Good day, and welcome to the MongoDB First Quarter Fiscal 2020 Earnings Call. Today's call is being recorded.

At this time, I would like to turn the conference over to Brian Denyeau, ICR, Investor Relations. Please go ahead.

Executive
Brian Denyeau

Thank you, Justin. Good afternoon and thank you for joining us today to review MongoDB's first quarter fiscal 2020 financial results, which we announced in our press release issued after the close of market today.

Joining the call today are Dev Ittycheria, President and CEO of MongoDB; and Michael Gordon, MongoDB's COO and CFO.

During this call, we may make statements related to our business that are forward-looking under Federal Securities Laws. These statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to our financial guidance for the second quarter and full year fiscal 2020. Our market opportunity, the impact of market trends on prospects for future growth. The benefits and the impacts of recent acquisitions, the anticipated benefits of our products for our customers and the opportunities presented by our partnerships.

The words anticipates, continue, estimate, expect, intend, will, and similar expressions are intended to identify forward-looking statements or similar indications of future expectations. These statements reflect our views only as of today and should not be constitute as representing our views of any subsequent date. We do not have plans to update these statements except as required by law. These statements are subject to a variety of risks and uncertainties that could cause actual results to differ materially from expectations.

For a discussion of the material risks and other important factors that could affect our actual results please refer to those contained in our Annual Report on Form 10-K filed with the SEC on April 1st, 2019 and other periodic filings with the SEC. These documents are available on the Investor Relations section of our website at www.mongodb.com. A replay of this call will also be available there for a limited time.

Additionally, non-GAAP financial measures will be discussed in the conference call. Please refer to the tables in our earnings release on the Investor Relations portion of our website for a reconciliation of these measures to the most directly comparable GAAP financial measure.

With that, I'd like to turn the call over to Dev.

Executive
Dev Ittycheria

Thanks, Brian, and thanks to all of you for joining us today to review our first quarter results. We are very pleased with our performance of the first quarter. Our great start in fiscal 2020 reflects strong execution by the MongoDB team and continued momentum across all aspects of our business.

We also benefiting from the previous product and go-to-market investments you made to ensure we fully capitalize on one of the largest market opportunities in software. In fact IDC recently updated its forecast and expects the worldwide database software market to grow from $64 billion in 2019 to approximately $98 billion in 2023.

We believe that much of this incremental $34 billion will