MongoDB Inc at Barclays Global Technology Conference Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Raimo Lenschow - Barclays Bank - Analyst : Okay. Perfect. And then you called out the multiyear deals, and I wanted to stay on that a little bit. It's like when I talk to investors, it was like, oh, there's more to you, but that's a positive thing. Like can you kind of speak to you a little bit to that. And I think it was in both within EA and the other revenue a little bit, like I don't know if you have more color there.

Question: Raimo Lenschow - Barclays Bank - Analyst : But it's like it's -- you're on the license side, it's not like -- I mean, if I remember correctly, you were like 20%, 20%, 25%.

Question: Raimo Lenschow - Barclays Bank - Analyst : Yes. And then on that theme, like we talked about EA being stronger last year, and I want to kind of link it to theme of like app modernization. Is that kind of actually not kind of linked that people want to start to modernize their applications. And yes, it might go to Atlas, but you might want to do it in-premise as well? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 11, 2024 / 5:15PM, MDB.OQ - MongoDB Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Bank - Analyst : And I heard that from the industry as well that like database migrations won't to be so much more easy. Like how much can you influence that in terms of providing the the AI and the tools to that? Or are you just basically an outcome like and they need to be at.

Question: Raimo Lenschow - Barclays Bank - Analyst : I meant more on the tooling side, like on the GenAI tool. I mean, are they like I get conceptually that you can use GenAI for that, but like are we -- where are we.

Question: Raimo Lenschow - Barclays Bank - Analyst : And then going back, Michael, now I put you on the spot, like my patch project or not my -- person was like last year, we started talking about EA actually being stronger than you had guided -- and then was part of that was people wanted to start modernizing? Is that -- like if you think about what's going to happen more now? Is that going to be like an Atlas or EA or both? Like how do you think that?

Question: Raimo Lenschow - Barclays Bank - Analyst : Yes. Okay. Let's shift gear a little bit on -- let's talk about Atlas a little bit. So like if you look at the industry, we have like Datadog coming after you, et cetera, like all the guys that are kind of like cloud, cloud needs and their offering, all kind of slowed down somewhat in the downturn and it's like optimization, less traffic for some of the digital needs, et cetera. If you think about your Atlas business, like I saw it more positively because you kind of almost -- we're kind of stabilizing in the growth rate. And yes, Michael is still guiding for slightly slower growth in the coming quarter. But like how do you think about the Atlas kind of story for you?

Question: Raimo Lenschow - Barclays Bank - Analyst : And then the -- I want to get to go-to-market changes a little bit. Like -- but you talked a little bit, so that's the existing customers doing more with -- or more or less depending on where their business is going. But then you can further influence it by kind of adding new workloads. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 11, 2024 / 5:15PM, MDB.OQ - MongoDB Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Bank - Analyst : And so if I summarize it, so basically, you have two components. You have the existing and they are the workload not the workload, the growth within the existing wasn't. The new is basically there was no change basically consistently kept that in. Yes.

Question: Raimo Lenschow - Barclays Bank - Analyst : And then so at the beginning of the year, you talked about like kind of headwinds you guys were facing and there was -- one of them was when you kind of started to compensate your sales guys. That was, I think, the year before on consumption. So then like if growth slows down, everyone tries to find an excuse or like find an explanation and sort of with a lot of like kind of focusing on that go-to-market changes or compensation changes. Can you speak to that? Like is that kind of what program there?

Question: Raimo Lenschow - Barclays Bank - Analyst : And then the other question that came up is like at the beginning of the year, I think you talked about $40 million of headwinds. And now the question right, I guess, is right. But it's like if I kind of adjust for that out like so how is Atlas growth doing if I kind of adjust that out. I don't know if you want to speak to that.

Question: Raimo Lenschow - Barclays Bank - Analyst : Yes, yes, You still didn't give me a '26, but okay. Yes. Fair enough. Okay. So we can all adjust that. Dev, now that we have you here, we need to talk about AI a little bit or GenAI a little bit. If you think about it, like there's a big debate like how does it impact your industry and maybe I'll start extra debt broadly, and then we can kind of narrow it down like from your perspective, you're a database vendor, what should it mean to you?

Question: Raimo Lenschow - Barclays Bank - Analyst : For us, it's difficult because you have a lot of techie guys and because it's a new world, everyone can make bold claims. And so it's -- and for us, we're sitting here and we don't know. How do you think of like obviously, the one with the boldest claims at the moment, like -- and actually, they are mostly tiny little startups, it's like postgres that comes up a lot. How should we -- what should we look at? Or like how do you see this going and play out?

Question: Raimo Lenschow - Barclays Bank - Analyst : Perfect. And I think our time is up. That's a good closing statement. Thank you Dev, Michael.