MongoDB’s Revenue by Segment (2018-2023)

The statistic highlights MongoDB’s revenue by segment, split across subscriptions and services, reported on a quarterly basis from Q1 2018 onwards.

MongoDB’s Revenue by Segment

(All figures are in millions, except percentages.)

Note – MongoDB’s financial year ends on 31st January.

The total revenue of MongoDB grew from $150.77 million in Q3 2021 to $226.89 million in Q3 2022 marking an increase of 50% on a yearly basis. On a quarterly basis, it rose from $198.75 million in Q2 2022 to $226.89 million in Q3 2022, recording an increase of 14%.

The Revenue of Mongo DB is bifurcated into the following segments:

Subscription

MongoDB primarily offers two products on a subscription basis:

• MongoDB Atlas: It is the company’s hosted DBaaS (Database-as-a-Service) offering that eliminates the need to maintain server hardware for running MongoDB. In simple words, it is a fully managed cloud database. The company also provides a free tier of MongoDB Atlas to promote its usage. MongoDB Atlas accounted for 46% of the company’s total revenue for the fiscal year ended on January 31, 2021. The company’s acquisition of mLab and Realm has increased the customer count for MongoDB Atlas.
• MongoDB Enterprise Advanced: This subscription package of the company provides users with a commercial license to access the platform. It allows customers to use MongoDB Enterprise Database Server for storing, organizing, processing, and making changes to the data. Besides this, the package includes a suite of management tools like Cloud Manager Premium, Ops Manager, etc. Cloud Manager Premium facilitates the management of the database on the cloud whereas Ops Manager caters to customers with on-premise deployments. Users can also access MongoDB data from Business Intelligence tools like Tableau using the BI Connector tool which is also a part of this package. The BI Connector tool supports integration with many other platforms like MS Excel, Spark, and Hadoop. Technical support is also a part of this package’s offerings.

The sales of MongoDB Enterprise Advanced contributed to 43% of the company’s total revenue for 2021. These subscriptions are sold directly through the company’s field and inside sales teams, and indirectly through channel partners. 82% of the subscription revenue is derived from sales made through the direct sales force and channel partners. Most of these subscriptions are for one year and are invoiced upfront. Customers are invoiced on an annual basis for multi-year subscriptions. These subscriptions are generally non-cancelable and non-refundable. The subscriptions are priced on a per server basis.

Services

MongoDB provides professional services such as consulting and training to customers to improve customer retention. The revenue from services is recognized over the period of delivery of the services. 4% of the company’s total revenue is generated by the services offered. The revenue generated by this segment has increased by 34.63% on an annual basis, owing to the provision of services to new customers.

About the company

MongoDB is a general-purpose database platform. Incorporated in 2007 with the name 10gen, the company is headquartered in New York. Their technology helps users across various industries create apps. The company’s main offerings are MongoDB Atlas and MongoDB Enterprise Advanced. The company also offers free versions of both these products with limited functionality to attract more users to their platform. Community Server is the free version of MongoDB Enterprise Advanced which has been downloaded over 155 million times since February 2009. A free tier of MongoDB Atlas called freemium is also available on the company’s website. The company has around 31,000 customers spread across 100 countries. MongoDB has not yet attained profitability with most of its revenues being devoted to the growth of the business.

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