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    Insight
    published
    2025-12-30

    MDB report

    Stock Analysis Template

    Company Information

    • Name: MDB
    • Ticker: MDB
    • Sector: [Sector]
    • Market Cap: [Market Cap]

    1. Financial Health Check

    • Revenue: $2.01B
    • Net Income: -129072000
    • Net Margin: -6.43%
    • Revenue Growth (3yr CAGR): N/A (Need historical data)
    • ROE (Return on Equity): N/A (Missing Equity)
    • ROIC (Return on Invested Capital): [ROIC (Return on Invested Capital)]
    • Debt/Equity: N/A (Missing Liabilities)
    • Free Cash Flow Yield: [Free Cash Flow Yield]
    • Free Cash Flow Trend: [Free Cash Flow Trend]

    2. Financial Trends

    Revenue vs Net Income

    3. Historical Data

    YearRevenueNet IncomeGross ProfitOp. Cash Flow
    20252.01B-129.07M1.47B150.19M
    20241.68B-176.60M1.26B121.48M
    20231.28B-345.40M934.74M-12.97M
    2022873.78M-306.87M614.29M6.98M
    2021590.38M-266.94M413.30M-42.67M

    4. Competitive Advantage (Moat)

    • Type of Moat: Switching Costs, Intangible Assets
    • Strength: Wide
    • Description: MongoDB offers a flexible document model that handles all types of data, seamless scalability, and a compelling developer experience. The Voyage AI acquisition further strengthens their moat by providing best-in-class embedding and reranking models for AI applications. These models are used by AI leaders, making MongoDB a trustworthy solution for AI development. Customers also benefit from the high complexity and significant revenue obtained for modernizing applications, resulting in switching costs.

    5. Management Quality

    • CEO: Dev Ittycheria
    • Capital Allocation: Stock buyback of $200 million to offset dilution from the Voyage AI acquisition. Reinvesting in R&D, particularly in AI, and in marketing to improve awareness of MongoDB's capabilities.
    • Tone: Optimistic
    • Key Quotes:
      • "MongoDB was built for change. MongoDB was designed from the outset to remove the constraints of legacy databases, enabling businesses to scale, adapt and innovate at AI speed."
      • "AI is ushering in a new era of accelerated change and every company will have to adapt. We are witnessing a once in a generation shift that will fundamentally reshape industries, accelerate the pace of innovation and redefine competitive dynamics in ways we've never seen before."

    6. Growth Prospects

    • Total Addressable Market (TAM): [Size and Growth Rate]
    • Market Share: [Current share and potential to gain]
    • New Products/Services: [Pipeline]

    7. Scuttlebutt & Soft Data

    • Customer Reviews: [Trends in customer satisfaction]
    • Employee Feedback: [Glassdoor ratings, turnover]
    • Channel Checks: [Insights from suppliers or distributors]

    8. Valuation

    • P/E Ratio: [Current vs. Historical vs. Peers]
    • EV/EBITDA: [Current vs. Historical vs. Peers]
    • DCF Fair Value: [Estimate]

    9. Risks

    • [Risk 1: Slower than expected adoption of AI among enterprise customers.]
    • [Risk 2: Headwinds from reduced multi-year non-Atlas deals.]
    • [Risk 3: Seasonality of Atlas consumption growth, especially around the holidays.] ```

    10. Checklist

    • Do I understand the business model?
    • Is the balance sheet healthy?
    • Is management aligned with shareholders?
    • Is the valuation reasonable?
    • Is there a clear catalyst?