MongoDB Inc at William Blair Growth Stock Conference Transcript

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

Question: Jason Ader - William Blair & Co - Analyst : Okay, great. Thank you. And then I'm sure on everybody's minds what happened in Q1?

Question: Jason Ader - William Blair & Co - Analyst : Great. The other thing that seems like some I'll call itself inflicted or something that was unexpected. Was the sales comp change the beginning of last fiscal year? Or can you just talk about what you guys did there and how you're tweaking that now?

Question: Jason Ader - William Blair & Co - Analyst : And does that change made at the beginning of Q1 or the beginning of Q2?

Question: Jason Ader - William Blair & Co - Analyst : Is that one of the reasons why it took a little bit longer to get rolling on the comp plans?

Question: Jason Ader - William Blair & Co - Analyst : Okay. And the I guess what's your sense, I mean, what's your confidence level that the new comp plan is goldilocks?

Question: Jason Ader - William Blair & Co - Analyst : Okay. And then one question that's come up has been, is it possible that the reason you're seeing more of the lower-quality workloads because a

Question: Jason Ader - William Blair & Co - Analyst : Okay. And then two more devil's advocate questions on like what could have been wrong. One is the AI pause where customers are just taking a step back. And I think I know the answer to that, but I want to propose that one. And then the second one is the idea that maybe there's a competitive issue with some of the hyperscalers, especially they are your number one competitor, I believe, correct? And customers are coalescing around their GenAI development on those hyperscaler platforms. So maybe that's creating some halo effect and sucking in some market share? I mean, how do you think about this?

Question: Jason Ader - William Blair & Co - Analyst : What is the split between the (inaudible) within ARR between the growth in the existing workloads versus the new business? Have you disclosed that split (inaudible) every quarter?

Question: Jason Ader - William Blair & Co - Analyst : Yes. But I mean, in a given quarter, it's most of the -- vast majority of the business has to be coming from existing workloads, right?

Question: Jason Ader - William Blair & Co - Analyst : Okay. And then my competitive question? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. JUNE 05, 2024 / 9:40PM, MDB.OQ - MongoDB Inc at William Blair Growth Stock Conference

Question: Jason Ader - William Blair & Co - Analyst : Good. I think maybe one more question before we wrap up the formal session. This is a couple of parts, so I'll try to make it quick. But I know you guys are using or thinking about use of GenAI to help the migration or help accelerate the migration of relational databases to MongoDB or relational workloads to MongoDB. My question is, is there a risk that with GenAI, it just becomes easier in general to switch out the database? And therefore, we've always done the database to be the super sticky space. Does Gen AI fundamentally change the stickiness factor of databases?

Question: Jason Ader - William Blair & Co - Analyst : Okay. I guess we got 30 seconds left. Any questions from the audience? Last 30 seconds. Go ahead. Unidentified Participant (inaudible - microphone inaccessible)

Question: Jason Ader - William Blair & Co - Analyst : All right. I think we'll cut the webcast now. And thank you guys for being here. Thank you, everybody, for staying late.