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 Services Corp - Analyst : Maybe like since you just joined recently, maybe just talk a little bit about your due diligence that you did when you joined MongoDB and like what excited you, but also like what you could bring to the company, given your experience and kind of a slightly larger organization as well?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. And then the -- if you think about the -- what you can bring to the table, like obviously you said, like you've been in -- on these journeys before. Like if you look at Mongo and kind of now that you spend a little bit of time on the organization, what's your thinking there?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. Okay. Yeah, makes sense. And then if you think about it, and you talked a little bit about it, Mongo is operational database. So their operational databases from my experience as well, like running long cycles. How do you see that market evolving? We still have -- Oracle still there, apparently doing better. The Microsoft, Postgres, Yuga, it's like how do you think about that?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah, yeah. Okay. No, I'm looking forward to that. And the one thing that drives database adoption or that was always kind of mentioned a lot with developers, do you remember Steve Ballmer, developer?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : How do you think about that -- like a few years ago, Mongo was like the next one. Now I think there's kind of more work that you could be doing there to kind of get that kind of move towards a little bit back --

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah, yeah. And the -- like I guess part of that problem was that we were somewhat stable and then Gen AI came in and then all of a sudden, developer world got crazy again. Talk a little bit about how you see that kind of Gen AI world playing out from a database perspective. LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 5:15PM, MDB.OQ - MongoDB Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah. And then more a conceptual question on AI because like -- even like the debate feels very much like black or white, like it's one guy or the other. But if you think about it, the market seems to be evolving so fast. There's so much going on there. Like should that all be like just in terms of need for databases to be the persistent layer around all these new AI apps, like you don't need to be -- like everyone is going to benefit like depending on -- independent of market share. Is that kind of the me dreaming too much, or --?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah, yeah. Yeah, okay. Makes total sense, yeah. And then -- going a little bit more current on the questions in terms of like you guys had a like out of the gate as a CEO, a very good first quarter, share price reacted, nicely. Well done. Like -- but if you look at -- so if you look at Atlas, which is on the cloud side, there's two components. There's the direct Atlas, which is kind of, in a way, you came from Enterprise world, enterprise sales guys doing stuff, NNS self-service, both of them look kind of started to come through better, like can -- from your first look into that, like what drove that?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah. I know, yeah.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Okay. Yeah, yeah, yeah. Yeah, And then how do you think about -- like that's a task for you as a new CEO. How do you think about EA? Like there's -- from our investor side, it's like, oh, you need to push the clients into Atlas? And then like, well, I'm Barclays, it's not going to work. How do you think about like dealing with EA in the future?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : That's always (inaudible)

Question: Raimo Lenschow - Barclays Services Corp - Analyst : The other thing that will be on your agenda, I would assume, is go-to-market. And you can see because Mongo is smaller, they still have to adopt. The company is growing, and they need to do more work there or change things. A few years ago, like we move towards more consumption kind of model in -- on the go-to-market side. Like you've been in the industry for a long time, like walking in there, like how do you think about that? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 11, 2025 / 5:15PM, MDB.OQ - MongoDB Inc at Barclays Global Technology Conference

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah, yeah. Okay, yeah. Okay. That's good. I apologize, there was a question for Mike, but he couldn't be here. So I'll try it, but -- and Jess is getting all nervous here. No it's not that bad. If you think about it, like one question you will get asked from us is obviously around profitability. And you are in that peer group of like high-quality, high-growth software. So that's like Datadog, Mongo, Snowflake. Profitability-wise, Mongo was always a little bit behind versus that peer group. How do you think about like structural reasons for that? Operational database is longer cycles. You have a longer customer lifetime value that could explain it maybe a little bit. But how did you think about it?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Then the last question for me is like I need to start with the funny anecdote. So when you left ServiceNow, all the bankers in Wall Street were like, oh, finally, because CJ was the one that stopped all the M&A because he always thought and believed in internal software development and didn't believe in buying stuff.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah. How is the situation for you at Mongo now? Like I mean, you always were a believer in development.

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah, yeah, yeah. And then last 50 seconds, like your first 100 days, is that like just traveling the world?

Question: Raimo Lenschow - Barclays Services Corp - Analyst : Yeah. Perfect. And it's -- our time is up, but it's a great closing statement as well. Thank you. Really enjoyed our conversation. Thank you.