Revenue

9 Months Ended

Oct. 31, 2024

Revenues [Abstract]

Revenue

Revenue

Disaggregation of Revenue

Based on the information provided to and reviewed by the Company’s Chief Executive Officer, its Chief Operating Decision Maker, the Company believes that the nature, amount, timing and uncertainty of its revenue and cash flows and how they are affected by economic factors is most appropriately depicted through the Company’s primary geographical markets and subscription product categories. The Company’s primary geographical markets are North and South America (“Americas”); Europe, Middle East and Africa (“EMEA”); and Asia Pacific. The Company also disaggregates its

subscription products between its MongoDB Atlas-related offerings and other subscription products, which include MongoDB Enterprise Advanced.

The following table presents the Company’s revenues disaggregated by primary geographical markets, subscription product categories and services (in thousands):

	Three Months Ended October 31,				Nine Months Ended October 31,
	2024		2023		2024		2023
Primary geographical markets:
Americas	$	325,076	$	265,698	$	881,958	$	741,529
EMEA	140,744		119,355		400,864		337,924
Asia Pacific	63,555		47,885		175,223		145,556
Total	$	529,375	$	432,938	$	1,458,045	$	1,225,009
Subscription product categories and services:
MongoDB Atlas-related	$	362,604	$	286,856	$	1,016,142	$	791,870
Other subscription	149,601		131,483		396,764		390,517
Services	17,170		14,599		45,139		42,622
Total	$	529,375	$	432,938	$	1,458,045	$	1,225,009

Customers located in the United States accounted for 55% and 54% of total revenue for the three and nine months ended October 31, 2024, respectively, and 55% and 54% three and nine months ended October 31, 2023, respectively. No other country accounted for 10% or more of revenue for the periods presented.

Contract Liabilities

The Company’s contract liabilities are recorded as deferred revenue in the Company’s condensed consolidated balance sheets and consist of customer invoices issued or payments received in advance of revenues being recognized from the Company’s subscription and services contracts. Deferred revenue, including current and non-current balances, as of October 31, 2024 and January 31, 2024 was $304.9 million and $377.4 million, respectively. Approximately 22% and 31% of the total revenue recognized for the nine months ended October 31, 2024 and 2023, respectively, was from deferred revenue at the beginning of each respective period.

Remaining Performance Obligations

Remaining performance obligations represent the aggregate amount of the transaction price in contracts allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations include unearned revenue, multi-year contracts with future installment payments and certain unfulfilled orders against accepted customer contracts at the end of any given period. As of October 31, 2024, the aggregate transaction price allocated to remaining performance obligations was $728.0 million. Approximately 57% is expected to be recognized as revenue over the next 12 months and the remainder thereafter. The Company applies the practical expedient to omit disclosure with respect to the amount of the transaction price allocated to remaining performance obligations if the related contract has a total duration of 12 months or less.

Unbilled Receivables

Revenue recognized in excess of invoiced amounts creates an unbilled receivable, which represents the Company’s unconditional right to consideration in exchange for goods or services that the Company has transferred to the customer. Unbilled receivables are recorded as part of accounts receivable, net in the Company’s condensed consolidated balance sheets. As of October 31, 2024 and January 31, 2024, unbilled receivables were $13.7 million and $22.7 million, respectively.

Allowance for Doubtful Accounts

The Company considers expectations of forward-looking losses, in addition to historical loss rates, to estimate its allowance for doubtful accounts on its accounts receivable. The following is a summary of the changes in the Company’s allowance for doubtful accounts (in thousands):

	Allowance for Doubtful Accounts
Balance at January 31, 2024	$	8,054
Provision	6,477
Recoveries/write-offs	(6,319)
Balance as of October 31, 2024	$	8,212

Costs Capitalized to Obtain Contracts with Customers

Deferred commissions were $333.0 million and $294.2 million as of October 31, 2024 and January 31, 2024, respectively, of which $229.3 million and $201.7 million comprised the non-current portion and was included in other assets on the Company’s consolidated balance sheets as of October 31, 2024 and January 31, 2024, respectively. Amortization expense with respect to deferred commissions, which is included in sales and marketing expense in the Company’s interim condensed consolidated statements of operations, was $28.6 million and $82.2 million for the three and nine months ended October 31, 2024, respectively, and $25.3 million and $72.8 million for the three and nine months ended October 31, 2023, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented.