Cloud Stocks: MongoDB Eyeing China With Alibaba Partnership

According to a Market Study research report, the global cloud database market is estimated to grow from $7.63 billion this year to $19.8 billion by 2025 at an annualized growth rate of over 50%. Earlier this month, cloud database-as-a-service provider MongoDB (Nasdaq:MDB) announced its third quarter results that surpassed all market expectations.

MongoDB’s Financials

MongoDB’s revenues for the third quarter grew 52% to $109.4 million. Net loss was $42.4 million, or $0.75 per share compared with a net loss of $22.5 million, or $0.43 per share a year ago. On an adjusted basis, net loss was $0.26 per share compared with $0.13 a year ago. The market was looking for revenues of $99.73 million with a net loss of $0.28 per share.

Subscription revenues grew 56% to $103.8 million and services revenue grew 8% to $5.6 million.

For the fourth quarter, MongoDB expects revenues of $109-$111 million with a net loss of $0.29-$0.27 per share. It expects to end the year with revenues of $407.2-$409.2 million and a net loss of $1.04-$1.02 per share. The market was looking for revenues of $105.3 million with a loss of $0.30 per share for the quarter and revenues of $394.04 million with a loss of $1.07 for the year.

MongoDB’s Partner and Product Expansion

MongoDB is focusing on expanding its market position through product and partner ecosystem enhancement. Within product innovation, it recently enhanced the capabilities of MongoDB data platform by adding features such as auto-scaling.

Auto scaling brings fully automated capacity management to customers’ managed MongoDB databases. The feature will allow Atlas to autonomously adjust instance sizes, both up or down as needed, by using predictive modeling and learnings developed from managing other MongoDB deployments. Atlas will examine two key resource utilization metrics—CPU and memory— every five minutes and determine whether it needs to scale based on the average utilization of each metric over the past hour. Before downscaling, Atlas will track the trend of the metrics for the past 72 hours. MongoDB will continue to enhance this feature through future algorithm enhancements to allow the platform to be more responsive to changes in workload. Currently the feature is in the open beta stage.

1 2
View single page >> |

Sramana Mitra is the founder of One Million by One Million (1M/1M), a global virtual incubator that aims to help one million entrepreneurs ...

more
How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.