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

Sep 02, 2020 • 05:00 pm ET

Previous

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

Share
Close

Loading Event

Loading Transcript

Presentation
Executive
Dev Ittycheria

enable customers to use MongoDB for a broad set of use cases and represent a significant step forward on our journey to deliver the pre-eminent modern data platform for the developer. Our second -- our strong second quarter results reflect the fact that our go-to-market organization executed exceptionally well under challenging circumstances. It is in difficult times when world-class go-to-market organization separate themselves from the mediocre ones, and we are proud of our team and our sophisticated approach to growing our business. Our second quarter results also demonstrate the increasing efficiency of our go-to-market efforts as we are driving increased synergy across our four sales channels: our field sales force, the inside sales team, our self-service channel, and our partner organization.

Starting with the self-serve channels where over the past two years, we assembled a strong growth marketing team, built our processes and the infrastructure to scale our self-service business and implemented a way to rapidly experiment and launch programs to increase the size and quality of our pipeline. We are pleased by the traction we're seeing, particularly in terms of acquiring new Atlas customers, which have achieved our third consecutive quarter of record growth.

As our sophistication managing the self-serve business grows, we are finding ways to accelerate the growth of the overall Atlas business. We do this by identifying self-serve customers based on product usage signals that benefit from direct engagement with our sales organization. With more attention service and support, we see a significant acceleration in customer spend. As we have become better at identifying the self-service customers with high-growth prospects, it has given our sales teams a more efficient way to prospect our self-service customer base. The end result is a self-serve channel that generates significant value on multiple levels as an important revenue generator in its own right and as a source of excellent leads for inside and field sales teams.

Turning to our inside and field sales teams. Over the past year, we've also gained conviction that new Atlas customers irrespective of their size when given proper resources and support at the outset grow rapidly. This is true not only for customers who transition from self-serve, but also for customers launching brand new applications on Atlas who are migrating the self-managed instances of community server onto our platform. As a result, we have adjusted our approach to increase the velocity of acquiring new customers.

This year, prior to the outbreak of COVID-19, we changed incentives for our sales team to focus more on lending new customers onto our platform and less on the initial size -- on size of the initial commitment. Moreover, we are using our professional services organization strategically to set up customers' success early to give them more confidence in using MongoDB. The result is a third consecutive quarter of record customer growth with notable strength in our inside sales channel.

Lastly, the partner organization is sourcing and influencing a growing percentage of our business, especially with cloud providers. We have