MongoDB Q1 Revenue Grows 25% with Atlas Up 29%, Net ARR at 121%
ZS•MongoDB delivered 25% year-over-year revenue growth in fiscal Q1, up from 22% in Q1 two years prior, with its Atlas cloud segment—75% of revenue—expanding 29% and net ARR rising to 121%. Management projects flat H2 on-premise EA revenues while pivoting toward AI-driven platform initiatives.
1. Fiscal Q1 Growth
MongoDB reported 25% year-over-year revenue growth in fiscal Q1, accelerating from 22% growth two years ago. The Atlas cloud platform, representing roughly 75% of total revenue, delivered 29% year-over-year expansion, and net ARR expansion rate climbed to 121%.
2. AI Future Strategy
Management emphasized positioning MongoDB as a foundational data layer for generative AI applications, highlighting early AI-driven deployments with major clients like Adobe. Despite growing momentum, leadership acknowledged that AI-related revenue contributions remain in preliminary stages and are secondary to core workloads.
3. H2 On-Premise Guidance
The company expects on-premise Enterprise Advanced (EA) revenue to be approximately flat in the second half, citing challenging year-over-year comparisons and ongoing migration of legacy customers to Atlas. This places added pressure on Atlas to sustain overall growth while AI workloads scale.
