MongoDB, Inc. (NASDAQ:MDB) Q2 2021 Earnings Conference Call - Final Transcript

Sep 02, 2020 • 05:00 pm ET

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MongoDB, Inc. (NASDAQ:MDB) Q2 2021 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Good day, and welcome to the MongoDB Second Quarter Fiscal 2021 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to Brian Denyeau with ICR. Please go ahead, sir.

Executive
Brian Denyeau

Thank you, Chuck. Good afternoon, and thank you for joining us today to review MongoDB's second quarter fiscal year 2021 financial results, which we announced in our press release issued after the close of market today. Joining me on the call today are Dev Ittycheria, President and CEO of MongoDB; and Michael Gordon, MongoDB's COO and CFO.

During this call, we will make forward-looking statements, including statements related to our market opportunity and future growth, our financial guidance and the anticipated impact of the COVID-19 pandemic on our business and results of operations. These statements are subject to a variety of risks and uncertainty that cause actual results to differ materially from our expectations. For a discussion of the material risks and uncertainties that could affect our actual results, please refer to the risks described in our SEC filings, including our most recent annual report on Form 10-K and quarterly report on Form 10-Q. Any forward-looking statements made in this call reflect our views only as of today, and we undertake no obligation to update them.

Additionally, non-GAAP financial measures will be discussed in this 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

Thank you, Brian, and thank you to everyone for joining us today. I will start by reviewing our second quarter results before giving you a product and go-to market update.

Looking quickly at our second quarter financial results, we generated revenue of $138.3 million or 39% year-over-year increase and above the high end of our guidance. We grew subscription revenue 41% year-over-year. Atlas revenue grew 66% year-over-year and now represents 44% of revenue. And we had another strong quarter customer growth, ending the quarter with over 20,200 customers. These would be strong results in any environment, but are particularly notable during the global health and economic crisis. I'm especially proud of our employees across all facets of the business have adapted to working in a remote environment and executed at a high level. Their passion and commitment to our customers and to the business in this difficult time have been outstanding.

Over the past five years, we have conducted detailed employee engagement survey semiannually to understand how our employees feel about the company. Tellingly, in our most recent survey conducted in this past July, the scores of employee engagement and on the confidence in the company's future prospects were the highest ever recorded.

Every business is quickly becoming a software business, which means the value proposition of any business is increasingly enabled, delivered or defined by software. Consequently, a key unit of productivity of a business becomes developer