MongoDB Inc at Needham Growth Conference Summary

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

Question: Michael Cikos - Needham & Company Inc. - Analyst : <_ALACRA_META_ABSTRACT>The easiest question you'll get out of the deck. Super high level, what does MongoDB do?

Question: Michael Cikos - Needham & Company Inc. - Analyst : No, no. Thanks for that, Michael. And then again, just in the interest of kind of -- and dusting off numbers for folks, given how long ago the quarterly print felt like at this point, but what were some of the key highlights from the October quarter earnings? Just again, a quick recap.

Question: Michael Cikos - Needham & Company Inc. - Analyst : Right. And I know we're in the new year as far as calendar. I know everyone is doing their work. There seems to be a growing sense of optimism. It seems like IT budgets might be up slightly versus where they were last year. But interested to the extent you can provide some color, how are -- what is the tone of customer conversations today? But where are they centered? Does there seem to be an uptick in any capacity? Or is it -- again, macro has not significantly changed, but just curious what you're hearing out there.

Question: Michael Cikos - Needham & Company Inc. - Analyst : Got it. Got it. And I'll throw myself on mute after the questions because I hear the fire trucks in the background. New York City, you've got to love it. But a question for you on the new capabilities and functionality as well. Like you guys have obviously announced [Sector] or streaming for that matter. Is there any significant change for like new logos acquired as far as -- are they -- are you noticing that they're coming in Q4, these newer features? Or no, is that still maybe additive but not why they would initially land with Mongo in the first place? The genesis of the question is I don't want to overinflate the innovation taking place, but if you could color that, that would be great.

Question: Michael Cikos - Needham & Company Inc. - Analyst : Got it. Got it. And that overindex on the prior quarter, but again, just wanted to get a better sense if we think through Atlas for a second. Mongo discussed strong new business, solid new workload acquisition. Can you help us think about the cadence of business through the quarter or workload trends, if any, to call out? Like does the October quarter tend to be pretty evenly distributed? Or is there anything to consider?

Question: Michael Cikos - Needham & Company Inc. - Analyst : Maybe one element to hedge out there, but I know we've spoken about macro, but why do you think that consumption element would be slower? Like what are we attributing to that slower growth from a consumption standpoint?

Question: Michael Cikos - Needham & Company Inc. - Analyst : And to that, I think it was the second point, when we were talking about the new workloads acquired last year just growing slower versus what previous cohorts have demonstrated, right, has there been any improvement on that front? Or no, that still holds from where you are (multiple speakers) --?

Question: Michael Cikos - Needham & Company Inc. - Analyst : And then again, let's come back to the fact that October quarter did cite strong new business trends. What is management attributing to that strong new business trend then? Is it the fact that we've -- has there been some sort of change from a go-to-market standpoint that we're executing against? Was it just execution? Were there additional marketing campaigns? Just anything there.

Question: Michael Cikos - Needham & Company Inc. - Analyst : Got it. Got it. On the consumption front, too, just wanted to call out, again, most recent quarter, consumption trends were slightly better than the revised assumptions that you guys had out there. And just to make sure the consumption that you guys did see broad-based across all workloads, was it maybe specific to a geography or a specific fleet of applications? Can you provide some more color on that front as well?

Question: Michael Cikos - Needham & Company Inc. - Analyst : Okay. Okay. And then just the route, like I know we've been talking about Relational Migrator. Can you provide an update? Like are you seeing an increasing volume of workloads coming through that Relational Migrator route? Or is it still in its infancy from where we sit today?

Question: Michael Cikos - Needham & Company Inc. - Analyst : Understood. Understood. And I know on the -- again, MongoDB has been citing, I guess, these strategic initiatives. And one of them, you can call it go-to-market, but I guess, this investment in the enterprise. Not surprising, larger organizations have stickier budgets, might be tougher to crack that, not initially, but once you're in, you're in. And we've seen this across our broader coverage. People are just moving up market. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 16, 2025 / 8:45PM, MDB.OQ - MongoDB Inc at Needham Growth Conference How has this expanded strategic account program tracking for Mongo versus expectations? Because you guys have been piloting or tooling around with this before making it a more concerted effort, right?

Question: Michael Cikos - Needham & Company Inc. - Analyst : Great. And has the company -- and apologies for not having this, but has the company in any way quantified either the size of the initiative from a manpower perspective or how many people are being reallocated for this or no?

Question: Michael Cikos - Needham & Company Inc. - Analyst : And the thought process then too -- I know you said it's nothing against mid-market. It remains fine there, but is the thought process

Question: Michael Cikos - Needham & Company Inc. - Analyst : Okay. And the second piece as well, again, I'm just trying to go through the initiatives that I have on my side. But one of them was maybe around building up the [Proserve] capabilities, either directly or through partners. And I just wanted to get a better sense. Is that -- should we interpret that as helping enable in any way the strategic account initiative? Or no, does that --?

Question: Michael Cikos - Needham & Company Inc. - Analyst : Got it. I think one of the other things that I know the management team here has called out is the idea that, yes, there's a lot of experimentation for some of these AI-based applications, but the majority, it's still unproven whether or not -- how many of these attain product market fit. And so I was wondering, do you guys -- is there a parallel that we can draw for, I don't want to say non-AI -- but the original or initial cohorts that maybe didn't have such an AI-based flavor to them, like do the majority of those not have product market fit and then eventually some of them hit? Like how do I -- is there even an analogy there or no, it's just really --?

Question: Michael Cikos - Needham & Company Inc. - Analyst : Understood. And I do want to be true to my word here. We did get a question in from a client that I want to ask while we have you. Question goes, I know it's early, but can you speak to customers that have GenAI in production and are therefore doing inference? Is MongoDB being used on that inference component? I would think large organizations that are starting to tinker might be using Mongo for that purpose. Anything you can share? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 16, 2025 / 8:45PM, MDB.OQ - MongoDB Inc at Needham Growth Conference

Question: Michael Cikos - Needham & Company Inc. - Analyst : Excellent. And maybe time for one more here, but this is kind of just a little -- a question I had. So I'm happy I can stress test that against you guys while we have you. With GenAI, does that place a greater emphasis or greater demand on a time-series-based capabilities given the need for real-time insights or not necessarily?

Question: Michael Cikos - Needham & Company Inc. - Analyst : Understood. Okay. And I will keep it -- I said it was the last one, that will be the last one. But thank you very much for the time, guys. I really do appreciate it. Michael, been great working with you. Thank you again for your time.

Question: Michael Cikos - Needham & Company Inc. - Analyst : Excellent. Have a good day, guys. Take care. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JANUARY 16, 2025 / 8:45PM, MDB.OQ - MongoDB Inc at Needham Growth Conference