When discussing the MongoDB net worth, it’s crucial to explore its 2024 financial performance.
MongoDB has significantly grown over the years, particularly through its subscription model and services like MongoDB Atlas.
Let’s dive into an overview of the MongoDB net worth and how the company’s strategies have contributed to its impressive financial standing, analyzed by Ando Money.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | MongoDB, Inc. |
| Full Name | MongoDB, Inc. |
| Website | www.mongodb.com |
| Industry | Developer Data Platform |
| Traded as | Nasdaq: MDB |
| ISIN | N/A |
| Founded | 2007 |
| Founders | Dwight Merriman, Eliot Horowitz, Kevin P. Ryan |
| Country/Territory | United States |
| Headquarters | New York, NY |
| Chief Executive Officer | Dev Ittycheria |
| Number of Employees | 5,213 |
| Market Cap | $20.35 billion |
| Total Assets | $3.03 billion |
| Total Equity | $1.27 billion |
| Revenue | $450.6 million |
| Net Income | -80.6 million |
What is the Net Worth/Market Cap Of MongoDB in 2024?
As of October 2024, MongoDB‘s market cap stands at $20.35 billion. This places it among the world’s top companies. While comparing its market value with other industry giants, MongoDB is notably ahead of several competitors.
It has solidified its position in the financial realm and tech space, largely due to its successful subscription model and enterprise services.
Other related companies or brands that MongoDB competes with include:
To find out how MongoDB compares to other global leaders, check out the biggest companies in the world on Ando Money’s richest companies page.
MongoDB Financial Performance Overview
Key Factors Driving Revenue Growth
One of the biggest drivers behind MongoDB’s financial growth is its subscription model. This model, particularly with the rise of MongoDB Atlas, has helped MongoDB scale up revenue by offering flexible cloud infrastructure solutions.
Businesses worldwide are increasingly migrating to cloud services, and MongoDB’s adaptable product line has made it a go-to choice.
The revenue from Atlas, which accounted for 70% of total subscription revenue, shows the company’s dominance in the market.
Another strong point is the enterprise adoption. MongoDB is no longer just favored by developers; it’s increasingly adopted by large enterprises.
This has led to a growing demand for Enterprise Advanced, which allows companies to scale their operations with more robust data solutions.
Revenue Distribution Across Geographical Markets
Geographically, MongoDB’s growth is diversified. North America remains the largest revenue generator, contributing a major portion of the total earnings.
However, EMEA (Europe, Middle East, Africa) and Asia-Pacific regions are becoming fast-growing markets. Revenue from these regions is expected to rise even more as MongoDB continues to localize its services and expand globally.
The demand in these regions reflects MongoDB’s strategic partnerships and expanding customer base.
Enterprises in these markets are increasingly adopting cloud-based solutions, fueling MongoDB’s revenue streams.
Strategic Investments and Financial Growth
MongoDB has made substantial investments to drive long-term financial growth. One major area is cloud infrastructure.
By partnering with cloud giants like Amazon Web Services and Microsoft Azure, MongoDB has improved its global accessibility.
These investments are helping MongoDB to scale efficiently and reduce operational costs, contributing positively to its financial standing.
Another focus is R&D investments. MongoDB continues to invest heavily in its database technologies and innovations, ensuring it remains at the forefront of data management trends.
Key Revenue Streams from Services
Beyond its core subscription services, MongoDB has diversified its revenue through a variety of consulting and training services.
These services play an important role in onboarding large clients, helping them to deploy and integrate MongoDB’s platform effectively.
While MongoDB’s consulting services are a smaller slice of its overall revenue, they are a strategic investment in customer retention.
The training programs further build MongoDB’s credibility, helping new users get up to speed and ensure companies fully utilize MongoDB’s potential.
Revenue Growth from Long-Term Customer Retention
A key part of MongoDB’s financial strategy is fostering customer loyalty. Recurring revenues from annual subscriptions continue to drive its financial performance.
MongoDB’s ability to retain long-term customers and grow its customer base is evident in the Net ARR expansion rate, which consistently exceeds 120%.
This high retention rate means customers are expanding their MongoDB usage, contributing to continued revenue growth.
Moreover, MongoDB focuses on increasing customer lifetime value by offering integrated solutions and scalable options for businesses, ensuring that as businesses grow, their dependence on MongoDB services grows alongside.
Product Innovation and Its Financial Impact
MongoDB’s commitment to product innovation is another key to its revenue growth.
MongoDB Atlas, launched as a Database-as-a-Service (DBaaS) platform, has become a game-changer in the developer and business community.
Atlas has not only brought new users to MongoDB’s ecosystem but has also provided a reliable revenue stream through its pay-per-use model.
MongoDB also continues to build on its open-source foundation, which remains a significant driver for adoption.
The company is consistently improving its product offerings, ensuring businesses have the tools they need for modern applications.
Organizational Growth and Financial Strategy
The leadership of Dev Ittycheria has been pivotal in MongoDB’s growth. Under his guidance, the company has expanded its workforce to over 5,200 employees.
This workforce growth supports the company’s expansion strategy, allowing MongoDB to better serve its growing global customer base.
Additionally, MongoDB’s long-term financial strategy focuses on balancing investments with financial performance.
By expanding its product offerings and workforce, the company ensures that it has the infrastructure to sustain growth and drive revenue in the future.
FAQs About MongoDB
What are MongoDB’s total assets in 2024?
As of April 2024, its total assets amount to $3.03 billion. This reflects the company’s continued expansion in both tangible and intangible assets, driven largely by investments in cloud infrastructure and innovation.
How does MongoDB generate its revenue?
MongoDB generates revenue primarily through its subscription model, with the majority coming from MongoDB Atlas, a cloud-based platform. Additional revenue comes from services such as consulting, training, and support.
How many employees work at MongoDB?
It employs 5,213 individuals worldwide as of April 2024. The company continues to expand its workforce to support its growing global presence and customer base.
Who are the founders of MongoDB?
MongoDB was co-founded by Dwight Merriman, Eliot Horowitz, and Kevin P. Ryan in 2007. The company was initially named 10Gen, Inc. before rebranding to MongoDB.
What is its leadership like?
The company is currently led by Dev Ittycheria, who serves as the CEO. Under his leadership, MongoDB has expanded significantly, growing both its product offerings and global presence.
Conclusion
I hope this overview of MongoDB’s financial performance gives you clear insights into its revenue growth and strategic decisions.
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