# MongoDB, Inc. (MDB)

Informational only - not investment advice.

CIK: 0001441816
SIC: 7372 Services-Prepackaged Software
SIC breadcrumb: [Services](/division/I/) > [Business Services](/major-group/73/) > [SIC 7372 Services-Prepackaged Software](/industry/7372/)
Latest 10-K filed: 2026-03-11
SEC page: https://www.sec.gov/edgar/browse/?CIK=1441816
Filing source: https://www.sec.gov/Archives/edgar/data/1441816/000162828026016799/mdb-20260131.htm

## At a glance

FY2026 · period end 2026-01-31 · filed 2026-03-11 · accession 0001628280-26-016799 · source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json

| Metric | Value | FY | Provenance |
| --- | ---: | ---: | --- |
| Revenue | 2,463,797,000 USD | 2026 | verified |
| Net income | -71,151,000 USD | 2026 | verified |
| Assets | 3,758,848,000 USD | 2026 | verified |
| Free cash flow | 500,188,000 USD | 2026 | computed |
| Net margin | -2.89% | 2026 | computed |
| Operating margin | -5.56% | 2026 | computed |
| Revenue YoY | +22.79% | 2026 | computed |
| ROE | -2.41% | 2026 | computed |

Computed values are grepcent-computed from the verified facts above and may differ from ratios the company itself reports. Free cash flow = operating cash flow − capital expenditures. Net margin = net income ÷ revenue. Operating margin = operating income ÷ revenue. Revenue YoY = FY2026 revenue ÷ FY2025 revenue − 1 (consecutive fiscal years only). ROE = net income ÷ period-end stockholders' equity.

No market price, no rating, no forecast on this site. Not investment advice.

### Peer percentile fingerprint

| Ratio | MDB | Peer median | Percentile | N |
| --- | ---: | ---: | ---: | ---: |
| Net margin | -2.9% | 1.5% | 39 | 122 |
| Operating margin | -5.6% | 1.3% | 32 | 121 |
| Revenue growth | 22.8% | 13.5% | 80 | 124 |
| FCF margin | 20.3% | 19.3% | 56 | 120 |
| ROE | -2.4% | 2.0% | 40 | 112 |
| ROA | -1.9% | 0.9% | 35 | 124 |
| Liabilities / equity | 0.27 | 0.91 | 11 | 113 |
| Current ratio | 4.65 | 1.57 | 93 | 124 |

Percentile = share of the N covered peers reporting that ratio whose value is lower (ties counted half); computed among grepcent-covered companies in SIC industry 7372 Services-Prepackaged Software, not the whole market. A higher percentile means a higher value of the ratio, not a better company. Ratios with fewer than 8 reporting peers are omitted. Latest reported values per company; fiscal periods may differ. Descriptive arithmetic - not a score, rating, or ranking.

## Selected Fundamentals
| Metric | Value | Unit | FY | Filed |
| --- | ---: | --- | ---: | --- |
| Revenue | 2463797000 | USD | 2026 | 2026-03-11 |
| Net income | -71151000 | USD | 2026 | 2026-03-11 |
| Assets | 3758848000 | USD | 2026 | 2026-03-11 |

## Financials

Annual standardized facts from SEC companyfacts as of latest extracted filing date 2026-03-11. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json. Derived margins, ratios, and free cash flow are computed from the extracted annual SEC facts.

| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Revenue | 114,805,000 | 166,028,000 | 267,016,000 | 421,720,000 | 590,380,000 | 873,782,000 | 1,284,040,000 | 1,683,011,000 | 2,006,443,000 | 2,463,797,000 |
| Net income | -70,063,000 | -83,973,000 | -99,011,000 | -175,522,000 | -266,944,000 | -306,866,000 | -345,398,000 | -176,600,000 | -129,072,000 | -71,151,000 |
| Operating income | -69,329,000 | -84,881,000 | -97,765,000 | -147,866,000 | -209,304,000 | -289,364,000 | -346,655,000 | -233,732,000 | -216,064,000 | -136,968,000 |
| Gross profit | 84,938,000 | 123,169,000 | 193,448,000 | 296,364,000 | 413,304,000 | 614,290,000 | 934,736,000 | 1,258,526,000 | 1,471,147,000 | 1,767,739,000 |
| Diluted EPS |  |  |  |  | -4.53 | -4.75 | -5.03 | -2.48 | -1.73 | -0.88 |
| Operating cash flow | -38,078,000 | -44,881,000 | -41,989,000 | -29,540,000 | -42,673,000 | 6,980,000 | -12,970,000 | 121,477,000 | 150,191,000 | 505,148,000 |
| Capital expenditures | 1,683,000 | 2,135,000 | 6,848,000 | 3,564,000 | 11,773,000 | 8,072,000 | 7,244,000 | 6,074,000 | 29,550,000 | 4,960,000 |
| Share buybacks | 48,000 | 242,000 | 327,000 | 43,000 | 11,000 | 0.00 | 0.00 | 0.00 | 0.00 | 400,333,000 |
| Assets | 174,432,000 | 432,844,000 | 733,476,000 | 1,328,567,000 | 1,407,495,000 | 2,449,588,000 | 2,588,893,000 | 2,869,642,000 | 3,430,293,000 | 3,758,848,000 |
| Liabilities | 115,689,000 | 185,187,000 | 468,910,000 | 1,245,709,000 | 1,407,814,000 | 1,782,888,000 | 1,849,385,000 | 1,800,653,000 | 648,069,000 | 806,490,000 |
| Stockholders' equity | -244,736,000 | 247,657,000 | 264,566,000 | 82,858,000 | -5,033,000 | 666,700,000 | 739,508,000 | 1,068,989,000 | 2,782,224,000 | 2,952,358,000 |
| Cash and cash equivalents | 69,305,000 | 61,902,000 | 147,831,000 | 706,192,000 | 429,697,000 | 473,904,000 | 455,826,000 | 802,959,000 | 490,133,000 | 1,083,540,000 |
| Free cash flow | -39,761,000 | -47,016,000 | -48,837,000 | -33,104,000 | -54,446,000 | -1,092,000 | -20,214,000 | 115,403,000 | 120,641,000 | 500,188,000 |

### Ratios

ROE and ROA use period-end equity/assets. Liabilities / equity uses total liabilities divided by stockholders' equity. Current ratio uses current assets divided by current liabilities when both are reported.

| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
| --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: |
| Net margin | -61.03% | -50.58% | -37.08% | -41.62% | -45.22% | -35.12% | -26.90% | -10.49% | -6.43% | -2.89% |
| Operating margin | -60.39% | -51.12% | -36.61% | -35.06% | -35.45% | -33.12% | -27.00% | -13.89% | -10.77% | -5.56% |
| Return on equity |  | -33.91% | -37.42% | -211.83% |  | -46.03% | -46.71% | -16.52% | -4.64% | -2.41% |
| Return on assets | -40.17% | -19.40% | -13.50% | -13.21% | -18.97% | -12.53% | -13.34% | -6.15% | -3.76% | -1.89% |
| Liabilities / equity |  | 0.75 | 1.77 | 15.03 |  | 2.67 | 2.50 | 1.68 | 0.23 | 0.27 |
| Current ratio | 1.62 | 3.09 | 3.44 | 4.59 | 3.22 | 4.02 | 3.80 | 4.40 | 5.20 | 4.65 |

## As-reported value updates

10 tracked differences above grepcent's stated thresholds were found between the earliest XBRL-filed value and the value currently on file for the same fiscal period.

Ledger: /company/MDB/revisions/


## Quarterly

Quarterly standardized facts from SEC companyfacts as of latest extracted filing date 2026-05-29. Source: https://data.sec.gov/api/xbrl/companyfacts/CIK0001441816.json.

Flow metrics use discrete quarter-length periods from 10-Q/10-Q/A filings. Q4 revenue and net income are derived only when annual FY and nine-month YTD facts exist for the same fiscal year; derived Q4 values are labeled. EPS Q4 is not derived.

| Quarter | End date | Revenue | Net income | Diluted EPS | Method |
| --- | --- | ---: | ---: | ---: | --- |
| 2024-Q2 | 2023-04-30 |  | -54,246,000 |  | reported discrete quarter |
| 2024-Q2 | 2023-07-31 | 423,791,000 |  |  | reported discrete quarter |
| 2024-Q3 | 2023-07-31 |  | -37,597,000 |  | reported discrete quarter |
| 2024-Q3 | 2023-10-31 | 432,938,000 |  |  | reported discrete quarter |
| 2024-Q4 | 2024-01-31 | 458,002,000 | -55,460,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2025-Q1 | 2024-04-30 | 450,561,000 | -80,593,000 |  | reported discrete quarter |
| 2025-Q2 | 2024-04-30 |  | -80,593,000 |  | reported discrete quarter |
| 2025-Q2 | 2024-07-31 | 478,109,000 |  |  | reported discrete quarter |
| 2025-Q3 | 2024-07-31 |  | -54,529,000 |  | reported discrete quarter |
| 2025-Q3 | 2024-10-31 | 529,375,000 |  |  | reported discrete quarter |
| 2025-Q4 | 2025-01-31 | 548,398,000 | 15,826,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2026-Q1 | 2025-04-30 | 549,014,000 | -37,626,000 |  | reported discrete quarter |
| 2026-Q2 | 2025-04-30 |  | -37,626,000 |  | reported discrete quarter |
| 2026-Q2 | 2025-07-31 | 591,402,000 |  |  | reported discrete quarter |
| 2026-Q3 | 2025-07-31 |  | -47,048,000 |  | reported discrete quarter |
| 2026-Q3 | 2025-10-31 | 628,309,000 |  |  | reported discrete quarter |
| 2026-Q4 | 2026-01-31 | 695,072,000 | 15,530,000 |  | derived Q4 = FY annual - nine-month YTD |
| 2027-Q1 | 2026-04-30 | 687,616,000 | 4,434,000 | 0.05 | reported discrete quarter |

## Filed narrative (10-K & 10-Q)

## Business

Verbatim Item 1 Business section from MDB's latest 10-K: [/company/MDB/business/](/company/MDB/business/).

## Risk Factors

Verbatim Item 1A Risk Factors from MDB's latest 10-K: [/company/MDB/risk-factors/](/company/MDB/risk-factors/).

## Latest quarter (10-Q)

Latest 10-Q source: https://www.sec.gov/Archives/edgar/data/1441816/000162828026039150/mdb-20260430.htm

Extracted structurally from real Item 2 body heading to real Item 3/4 boundary.
Confidence: high
Filing date: 2026-05-29
Report date: 2026-04-30

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

Unless the context otherwise indicates, references in this report to the terms “MongoDB,” “the Company,” “we,” “our” and “us” refer to MongoDB, Inc., its divisions and its subsidiaries. The following discussion and analysis of our financial condition and results of operations should be read in conjunction with (1) our condensed consolidated financial statements and related notes appearing elsewhere in this Quarterly Report on Form 10-Q and (2) the audited consolidated financial statements and the related notes and the discussion under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included in our Annual Report on Form 10-K for the fiscal year ended January 31, 2026 (the “2026 Form 10-K”). All information presented herein is based on our fiscal calendar year, which ends January 31. Unless otherwise stated, references to particular years, quarters, months or periods refer to our fiscal years ended January 31 and the associated quarters, months and periods of those fiscal years.

This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements are often identified by the use of words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “would” or the negative or plural of these words or similar expressions or variations, including our expectations regarding our future growth opportunity, revenue and revenue growth, investments, strategy, operating expenses and the anticipated impact of the global economic uncertainty and financial market conditions, caused by the macroeconomic environment, on our business, results of operations and financial condition. Such forward-looking statements are subject to a number of risks, uncertainties, assumptions and other factors that could cause actual results and the timing of certain events to differ materially from future results expressed or implied by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those identified herein, and those discussed in the section titled “Risk Factors,” set forth in Part 2, Item 1A of this Quarterly Report on Form 10-Q. You should not rely upon forward-looking statements as predictions of future events. Furthermore, such forward-looking statements speak only as of the date of this report. Except as required by law, we undertake no obligation to update any forward-looking statements to reflect events or circumstances after the date of such statements.

Our corporate website is located at www.mongodb.com. We make available free of charge, on or through our corporate website, our annual, quarterly and current reports, and any amendments to those reports, as soon as reasonably practicable after electronically filing such reports with, or furnishing such reports to, the Securities and Exchange Commission (“SEC”). Information contained on our corporate website is not part of this Quarterly Report on Form 10-Q or any other report filed with or furnished to the SEC.

Overview

18

Table of Contents

MONGODB, INC.

MongoDB is the developer data platform company whose mission is to empower developers to create, transform, and disrupt industries by unleashing the power of software and data. The foundation of our offering is the world’s leading, modern general purpose database. Organizations can deploy our database at scale in the cloud, on-premises, or in a hybrid environment. Built on our unique document-based architecture, our database is designed to handle unstructured data and meet the needs of organizations for performance, scalability, flexibility and reliability while maintaining the strengths of relational databases. In addition to the database, our developer data platform includes a set of, tightly integrated, capabilities such as search, time series, data lifecycle, application-driven analytics and stream processing that allow developers to address a broader range of application requirements. Our business model combines the developer mindshare and adoption benefits of open source with the economic benefits of a proprietary software subscription business model.

We generate revenue primarily from sales of subscriptions, which accounted for 97% of our total revenue during the three months ended April 30, 2026 and 2025.

Atlas is our hosted multi-cloud database-as-a-service (“DBaaS”) offering, which we run and manage in the cloud, and includes comprehensive infrastructure and management, as well as a host of additional features, such as Atlas Search, Vector Search, time series, data lifecycle, application-driven analytics and stream processing. During the three months ended April 30, 2026, Atlas revenue represented 75%, as compared to 72% of our total revenue during the three months ended April 30, 2025, respectively, reflecting the continued growth of Atlas since its introduction in June 2016. We have experienced strong growth in self-serve customers of Atlas, which are charged monthly in arrears based on their usage. We have also seen growth in Atlas customers sold by our sales force, which typically sign annual contracts and pay in advance or are invoiced monthly in arrears based on usage. Customers sold by our sales force may also sign contracts that remain in effect until terminated and are invoiced monthly in arrears based on usage. We expect to continue to see a higher portion of our Atlas contracts to be billed monthly in arrears based on usage without requiring upfront commitments.

MongoDB Enterprise Advanced is our proprietary commercial database server offering for enterprise customers that can run in the cloud, on-premises or in a hybrid environment. MongoDB Enterprise Advanced revenue represented 21% and 22% of our subscription revenue during the three months ended April 30, 2026 and 2025, respectively. We sell subscriptions directly through our field and inside sales teams, as well as indirectly through channel partners. The majority of our subscription contracts are one year in duration and are invoiced upfront. When we enter into multi-year subscriptions, the customer is typically invoiced on an annual basis or pays upfront.

Many of our enterprise customers initially get to know our software by using Community Server, which is our free-to-download version of our database that includes the core functionality developers need to get started with MongoDB without all the features of our commercial platform. Our platform has been downloaded from our website more than 750 million times since February 2009. We also offer a free tier of Atlas, which provides access to our hosted database solution with limited processing power and storage, as well as certain operational limitations. As a result, with the availability of both Community Server and Atlas free tier offerings, our direct sales prospects are often familiar with our platform and may have already built applications using our technology. A core component of our growth strategy for Atlas and MongoDB Enterprise Advanced is to convert developers and their organizations who are already using Community Server or the free tier of Atlas to become customers of our commercial products and enjoy the benefits of either a self-managed or hosted offering.

We also generate revenue from services, which consist primarily of fees associated with consulting and training services. Revenue from services accounted for 3% of our total revenue for the three months ended April 30, 2026 and 2025. We expect to continue to invest in our services organization as we believe it plays an important role in accelerating our customers’ realization of the benefits of our platform, which helps drive customer retention and expansion.

We compete in the database management software market, which is one of the largest in the software industry and growing. According to the International Data Corporation (IDC)’s Worldwide Database Management Systems Software Forecast, 2025-2029, the worldwide Database Management Software market was $93 billion in 2024, and is expected to grow to approximately $169 billion in 2029. This represents a 13% five-year compound annual growth rate. Over the last two years, a number of companies launched code assistant tools, which leverage generative AI to help developers write and test their code faster, thereby accelerating application development. We believe this acceleration in application development will further benefit the database management software market, by increasing the volume of new software and demand for scalable, flexible data platforms to manage the resulting growth of data.

We have experienced rapid growth and have made substantial investments in developing our platform and expanding our sales and marketing footprint. We intend to continue to invest to grow our business to take advantage of our market opportunity.

14

Table of Contents

MONGODB, INC.

Macroeconomic and Other Factors

Our operational and financial performance is subject to risks including those caused by the adverse macroeconomic environment and the geopolitical landscape.

Adverse macroeconomic conditions include slower or negative economic growth and higher inflation. While the impact of these macroeconomic conditions on our business, results of operations and financial position remain uncertain over the long term, we expect to experience macroeconomic headwinds on growth rate for our existing Atlas applications in the short term.

We continue to monitor the developments of the macroeconomic environment and the geopolitical landscape. As these factors develop and we evaluate their impact on our business, we may adjust our business practices accordingly. For further discussion of the potential impacts of these factors on our business, operating results, and financial condition, see the section titled “Risk Factors” included in Part II, Item 1A of this Quarterly Report on Form 10-Q. Other factors affecting our performance are discussed below.

Share Repurchase Program

In February 2025, the Company’s Board of Directors authorized a program to repurchase up to $200.0 million of the Company’s common stock. In June 2025, the Company’s Board of Directors authorized an additional $800.0 million in repurchases under the Share Repurchase Program, bringing the aggregate authorized repurchase amount to $1.0 billion. During the three months ended April 30, 2026, the Company repurchased 358,216 shares of common stock for $100.0 million. The average price per share for the three months ended April 30, 2026 was $285.25. All repurchases of common stock were made in open market transactions and recorded in treasury stock. As of April 30, 2026, the total remaining authorization under the Share Repurchase Program is $499.7 million.

The timing and amount of any repurchases will be determined by management based on an evaluation of market conditions and other factors. The program does not obligate us to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at our discretion.

Factors Affecting Our Performance

Extending Product Leadership and Maintaining Developer Mindshare

We are committed to delivering market-leading products to continue to build and maintain credibility with the global software developer community. We believe we must maintain our product leadership position and the strength of our brand to drive further revenue growth. We intend to continue to invest in our product offerings with the goal of expanding the functionality and adoption of our developer data platform. During 2024, we introduced MongoDB version 8.0 e

[Excerpt truncated for page length; source filing is linked above.]

## Latest 10-K MD&A (excerpt)

Latest 10-K Item 7 source: https://www.sec.gov/Archives/edgar/data/1441816/000162828026016799/mdb-20260131.htm
Complete FY 2026 MD&A: /company/MDB/mda/fy2026/

Extracted structurally from real Item 7 body heading to real Item 7A/8 boundary.
Confidence: high
Filing date: 2026-03-11
Report date: 2026-01-31

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The following discussion should be read in conjunction with the consolidated financial statements and notes thereto included in Part II, Item 8, Financial Statements and Supplementary Data, of this Form 10-K. All information presented herein is based on our fiscal calendar. Unless otherwise stated, references to particular years, quarters, months or periods refer to our fiscal years ended January 31 and the associated quarters, months and periods of those fiscal years.

Overview

MongoDB is the developer data platform company whose mission is to empower developers to create, transform, and disrupt industries by unleashing the power of software and data. The foundation of our offering is the world’s leading, modern general purpose database. Organizations can deploy our database at scale in the cloud, on-premises, or in a hybrid environment. Built on our unique document-based architecture, our database is designed to meet the needs of organizations for performance, scalability, flexibility and reliability while maintaining the strengths of relational databases. In addition to the database, our developer data platform includes a set of, tightly integrated, capabilities such as search, time series, data lifecycle, application-driven analytics and stream processing that allow developers to address a broader range of application requirements. Our business model combines the developer mindshare and adoption benefits of open source with the economic benefits of a proprietary software subscription business model.

We generate revenue primarily from sales of subscriptions, which accounted for 97% of our total revenue for the year ended January 31, 2026 and 97% for the years ended January 31, 2025 and 2024.

Atlas is our hosted multi-cloud database-as-a-service (“DBaaS”) offering, which we run and manage in the cloud, and includes comprehensive infrastructure and management, as well as a host of additional features, such as Atlas Search, Vector Search, time series, data lifecycle, application-driven analytics, and stream processing. During the year ended January 31, 2026, Atlas revenue represented 73% of our total revenue, as compared to 70% in the prior year, reflecting the continued growth of Atlas since its introduction in June 2016. We have experienced strong growth in self-serve customers of Atlas, which are charged monthly in arrears based on their usage. We have also seen growth in Atlas customers sold by our sales force, which typically sign annual contracts and pay in advance or are invoiced monthly in arrears based on usage. Customers sold by our sales force may also sign contracts that remain in effect until terminated and are invoiced monthly in arrears based on usage. We expect to continue to see a higher portion of our Atlas contracts to be billed monthly in arrears based on usage without requiring upfront commitments.

MongoDB Enterprise Advanced is our proprietary commercial database server offering for enterprise customers that can run in the cloud, on-premises or in a hybrid environment. MongoDB Enterprise Advanced revenue represented 21%, 24% and 26% of our subscription revenue for the years ended January 31, 2026, 2025 and 2024, respectively. We sell subscriptions directly through our field and inside sales teams, as well as indirectly through channel partners. The majority of our subscription contracts are one year in duration and are invoiced upfront. When we enter into multi-year subscriptions, the customer is typically invoiced on an annual basis or pays upfront.

Many of our enterprise customers initially get to know our software by using Community Server, which is our free-to-download version of our database that includes the core functionality developers need to get started with MongoDB without all the features of our commercial platform. Our platform has been downloaded from our website more than 700 million times since February 2009. We also offer a free tier of Atlas, which provides access to our hosted database solution with limited processing power and storage, as well as certain operational limitations. As a result, with the availability of both Community Server and Atlas free tier offerings, our direct sales prospects are often familiar with our platform and may have already built applications using our technology. A core component of our growth strategy for Atlas and MongoDB Enterprise Advanced is to convert developers and their organizations who are already using Community Server or the free tier of Atlas to become customers of our commercial products and enjoy the benefits of either a self-managed or hosted offering.

We also generate revenue from services, which consist primarily of fees associated with consulting and training services. Revenue from services accounted for 3% of our total revenue for the year ended January 31, 2026 and 3% for the year ended January 31, 2025 and 2024. We expect to continue to invest in our services organization as we believe it plays an important role in accelerating our customers’ realization of the benefits of our platform, which helps drive customer retention and expansion.

We believe the market for our offerings is large and growing. We have experienced rapid growth and have made substantial investments in developing our platform and expanding our sales and marketing footprint. We intend to continue to invest to grow our business to take advantage of our market opportunity.

54

Table of Contents

Macroeconomic and Other Factors

Our operational and financial performance is subject to risks including those caused by the adverse macroeconomic environment and the geopolitical landscape.

Adverse macroeconomic conditions include slower or negative economic growth and higher inflation. While the impact of these macroeconomic conditions on our business, results of operations and financial position remain uncertain over the long term, we expect to experience macroeconomic headwinds on growth rate for our existing Atlas applications in the short term.

We continue to monitor the developments of the macroeconomic environment and the geopolitical landscape. As these factors develop and we evaluate their impact on our business, we may adjust our business practices accordingly. For further discussion of the potential impacts of these factors on our business, operating results, and financial condition, see the section titled “Risk Factors” included in Part I, Item 1A of this Form 10-K. Other factors affecting our performance are discussed below.

Share Repurchase Program

In February 2025, the Company’s Board of Directors authorized a program to repurchase up to $200.0 million of the Company’s common stock. In June 2025, the Company’s Board of Directors authorized an additional $800.0 million in repurchases under the Share Repurchase Program, bringing the aggregate authorized repurchase amount to $1.0 billion. During the year ended January 31, 2026, the Company repurchased 1,576,109 shares of common stock for $400.3 million. The average price per share for the year ended January 31, 2026 was $306.87. All repurchases were made in open market transactions and recorded in treasury stock. As of January 31, 2026, our total remaining authorization under our stock repurchase plan is $599.7 million.

The timing and amount of any repurchases will be determined by management based on an evaluation of market conditions and other factors. The program does not obligate us to acquire any particular amount of common stock, and the repurchase program may be suspended or discontinued at any time at our discretion.

Business Acquisition

On February 17, 2025, we acquired all of the outstanding shares of Voyage AI Innovations, Inc. (“Voyage AI”), an AI-powered software company that specializes in embedding and reranking models. The acquisition date fair value of the purchase consideration was $160.9 million, which was comprised of 484,169 shares of our common stock valued at $141.4 million as of the acquisition date and $19.5 million in cash. In addition, we also issued to certain of Voyage AI’s employees a total of 213,023 shares of restricted stock awards and 35,152 shares of restricted stock units in exchange for a portion of their Voyage AI stock. These shares are subject to vesting agreements contingent upon each of these employees’ continued employment with us or our affiliates, pursuant to which the shares will vest over the weighted-average requisite service period of 2.7 years. The $62.2 million fair value of these restricted stock awards and $10.3 million fair value of these restricted stock units are accounted for as post-combination stock-based compensation expense over the weighted-average requisite service period.

The results of operations of this business combination have been included in our consolidated financial statements from the date of acquisition. See Note 5, Business Combinations, in our Notes to Consolidated Financial Statements included in Part II, Item 8 of this Form 10-K, for details regarding this business combination.

Factors Affecting Our Performance

Extending Product Leadership and Maintaining Developer Mindshare

We are committed to delivering market-leading products to continue to build and maintain credibility with the global software developer community. We believe we must maintain our product leadership position and the strength of our brand to drive further revenue growth. We intend to continue to invest in our product offerings with the goal of expanding the functionality and adoption of our developer data platform. During 2024, we introduced MongoDB version 8.0 enhancing enterprise-grade security, resilience and availability for a wide variety of applications. We added additional features to Queryable Encryption, an encrypted search scheme, to support equality and range searches. Over the years, we have introduced additional features and functionality to Atlas, including Atlas Search, Atlas Vector Search, Atlas Data Federation, Atlas Charts, and Atlas Stream Processing, which now provide dedicated infrastructure for search use cases so customers can scale independently of their database to manage their workloads with greater flexibility and operational efficiency. Recently,

55

Table of Contents

we have introduced an application programming interface (API) within Atlas that natively provides access to Voyage AI’s embedding and reranking models. These capabilities, when combined with the core functionality of Atlas, enable organizations to build, deploy and scale AI-powered applications with higher accuracy, lower latency and reduced architectural complexity.

We intend to continue to invest in our engineering capabilities and marketing activities to maintain our strong position in the developer community. We have spent $3.2 billion on research and development since our inception. Our results of operations may fluctuate as we make these investments to drive increased customer adoption and usage.

Growing Our Customer Base and Expanding Our Global Reach

We are intensely focused on continuing to grow our customer base. We have invested, and expect to continue to invest, in our sales and marketing efforts and developer community outreach, which are critical to driving customer acquisition. As of January 31, 2026, we had over 65,200 customers across a wide range of industries and in over 100 countries, compared to over 54,500 customers and over 47,800 customers as of January 31, 2025 and 2024, respectively. All affiliated entities are counted as a single customer and our definition of “customer” excludes users of our free offerings.

We are also focused on increasing the number of overall Atlas customers as we emphasize the on-demand scalability of Atlas by allowing our customers to consume the product with minimal commitment. We had over 63,900 Atlas customers as of January 31, 2026. The growth in Atlas

[Excerpt truncated for page length; the complete text is on the linked full-MD&A page.]

Read the full FY 2026 MD&A: /company/MDB/mda/fy2026/
All MD&A years: /company/MDB/mda/


## MD&A history

Prior-year 10-K MD&A spans are extracted from SEC filings with the same bounded parser used for the latest filing. Each year's full verbatim text is on its own sub-page.

- [FY 2025 MD&A](/company/MDB/mda/fy2025/): filed 2025-03-21; accession 0001441816-25-000057 (https://www.sec.gov/Archives/edgar/data/1441816/000144181625000057/mdb-20250131.htm)
- [FY 2024 MD&A](/company/MDB/mda/fy2024/): filed 2024-03-15; accession 0001441816-24-000049 (https://www.sec.gov/Archives/edgar/data/1441816/000144181624000049/mdb-20240131.htm)
- [FY 2023 MD&A](/company/MDB/mda/fy2023/): filed 2023-03-17; accession 0001441816-23-000027 (https://www.sec.gov/Archives/edgar/data/1441816/000144181623000027/mdb-20230131.htm)
- [FY 2022 MD&A](/company/MDB/mda/fy2022/): filed 2022-03-18; accession 0001441816-22-000059 (https://www.sec.gov/Archives/edgar/data/1441816/000144181622000059/mdb-20220131.htm)




## Macro cross-references

Indicators mapped to this company's SIC classification (industry 7372 Services-Prepackaged Software) by grepcent's deterministic macro-sector crosswalk. A navigational mapping, not a statistical or causal claim.

- [PAYEMS](/indicator/PAYEMS/): All Employees, Total Nonfarm
- [CES0500000003](/indicator/CES0500000003/): Average Hourly Earnings of All Employees, Total Private
- [DGS10](/indicator/DGS10/): Market Yield on U.S. Treasury Securities at 10-Year Constant Maturity

Macro-to-micro threads including this sector: [US labor market](/thread/us-labor-market/), [Growth & output](/thread/growth-output/), [Government finances](/thread/government-finances/), [Sector employment](/thread/sector-employment/).

All macro indicators: /indicators/


## For LLMs & downloads

Markdown twin: /company/MDB.md · JSON record: /company/MDB.json · verified financials: /company/MDB/financials.json / /company/MDB/financials.csv · machine TOC for the whole site: /llms.txt