MongoDB’s Revenue by Region (2018-2022)

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This statistic highlights MongoDB’s Revenue by Region from Q1 2018 onwards, split between the Americas, Asia Pacific, and EMEA.
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This statistic highlights MongoDB’s Revenue by Region from Q1 2018 onwards, split between the Americas, Asia Pacific, and EMEA.

MongoDB’s Revenue by Region

Revenue by Region Q3 2021 Q2 2022 Q3 2022 Contribution in Q3 2022
Americas $93.26 $120.83 $138.04 60.84%
EMEA $44.55 $57.58 $66.18 29.17%
Asia Pacific $12.96 $20.34 $22.67 9.99%
Total $150.77 $198.75 $226.89 100%

(All figures in millions, except percentages)

The company’s total revenue has increased by nearly 51% on an annual basis. MongoDB serves customers in more than 100 countries and has a huge workforce based in 25 countries. The company derives its revenues from the following regions.

Americas

This includes the company’s operations in North and South America. MongoDB is headquartered in New York. The U.S. accounts for a majority of the company’s revenues.

Recent Trends and Major Risks 

The revenues sourced from the Americas witnessed a growth of 48% on an annual basis. MongoDB is benefitted from the U.S. laws which protect its intellectual property rights to a considerable degree. However, the strenuous relations between the U.S. and China are likely to have a negative impact on the overall market demand.

Moreover, the U.S. federal agencies are important clients of the company. The new executive order by the U.S. government to implement additional IT security measures can lead to modification of the company’s cybersecurity practices resulting in higher compliance costs for the company. If the company fails to meet these requirements, the revenues will fall.

Additionally, countries like Brazil that have enacted data protection laws like the General Data Protection Law (LGPD), can issue regulations restricting cross-border transfers of personal data just like the restrictions imposed by the European Union’s General Data Protection Regulation (GDPR). The company is engaged in data processing to serve its MongoDB Atlas customers.

Europe, Middle East, and Africa (EMEA)

The U.K. has consistently accounted for around 10% of the company’s revenues. No single country other than the U.S. and the U.K. accounts for 10% or more of the net revenues.

Recent Trends and Major Risks 

The revenues earned in this region increased by around 49% on a year-on-year basis. The revenues rose by 14.9% from $57.58 million in Q2 2022 to $66.18 million in Q3 2022.

The stringent data protection laws of this region, especially the European Union, can be risky for MongoDB. Countries of the European Economic Area and Switzerland can impose fines on violation of the GDPR and these fines can be as high as 20 million Euros, or 4% of the company’s global turnover in the previous year, whichever is higher. Even though the company is trying its best to comply with these regulations, constantly changing interpretations of the GDPR and related ambiguities can pose threat to the company.

The labor laws of EMEA are more advantageous to employees and require compliance to rules like deemed hourly wage and overtime regulations. This situation can also be dicey for the organization.

Asia Pacific

This region contributes to around 10% of the company’s total net revenue.

Recent Trends and Major Risks

This segment’s revenue grew by approximately 75% on a yearly basis. On a QOQ basis, the revenue soared by 11% from $20.34 million in Q2 2022 to $22.67 million in Q3 2022. MongoDB is trying to expand its reach in China by partnering with Tencent Cloud, a Chinese cloud provider. Japan’s Act on the Protection of Personal Information (APPI) was passed in 2020. Violation of this law can lead to severe penalties. This is amongst one of the risks faced by MongoDB.

About the company

MongoDB is a database platform that enables developers to quickly and cost-effectively construct and upgrade apps across a wide range of use cases. The company’s primary offerings include MongoDB Atlas, which is a multi-cloud database-as-a-service, and MongoDB Enterprise Advanced, which is a proprietary commercial database server that can run in a hybrid environment, in the cloud and on-premise. The company also provides a Community Server which is a free version of the database with limited features. A free tier of MongoDB Atlas is also available to get users familiar with the platform. The company was founded in 2007 as 10gen Inc. and changed its name to MongoDB in 2013. Its stocks are listed on Nasdaq.

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