Unidentified Analyst: Yeah. Okay. Thanks, Dev. And then for Mike. Mike, could you just because we’re all trying to set up our models by quarter for fiscal ‘25, is there any way to be more descriptive about how that $80 million, the sum of those two pieces, tracked by quarter and in particular how much of the $80 million landed in the fourth quarter you just reported?
Michael Gordon: Yeah, so I don’t have a quarterly breakdown. I guess what I would offer is throughout our life as a public company, including over the three prior quarters of this year, when there have been unusual trends, we’ve tried to call them out, so that people could understand both what was driving the results and looking forward what would impact the compares. And so, I think our historic comments should sort of leave a pretty good bread-cum-trail relative to things. I think we’ve been very clear on the multi-year deals and the EA outperformance when that’s happened. And if you needed sort of a rule of thumb, credits would typically — unused credits or unused commitments would typically, they map to the renewal cycle and we’ve called out the very seasonality as it relates to that.
So those would probably be the big things on the EA and other non-Atlas, obviously Q2 last year was a big quarter. We talked about Alibaba and other deals that hit in Q2. And so I think you can — it’s not — I wouldn’t just divide by four. There are some differences quarter to quarter. And then lastly, we did call out the — for folks who look at the business on a sequential basis, the impact of Atlas on the Atlas numbers for Q1, given that there’ll be a much more pronounced effect, given this is the first quarter where we’ll see the impact of that change.
Unidentified Analyst: Okay, awesome. Thanks a lot.
Operator: [Technical Difficulty]
Unidentified Analyst: Hello, Can you guys — can you hear me? Because the line’s cutting out a bit.
Dev Ittycheria: Yes, we can hear you. Unfortunately, we can’t hear the moderator, but we can hear you.
Unidentified Analyst: Terrific. Okay, well, thank you for having me on. I’d like to ask about Atlas Stream Processing. So that was announced in June 2023. I guess, can you just remind us of like what is Mongo’s reason to win in that segment of the market and then any idea of when that product will likely go GA?
Dev Ittycheria: Yes, so we announced — as you said, we announced the private preview of Stream Processing where we ended up having hundreds of development teams use the product. Now we’re in a public preview, so if customers are interested, they can actually start using the product today. Why are we in a position to win? For a couple reasons. One, this is purely focused on the developer market. The data is mainly in JSON. It requires a flexible schema and is for real-time applications. Given all those things are kind of coordinating, we feel really well positioned because most of the alternatives have a very rigid or fixed schema. And with the variability of data coming from these kind of events, that becomes much more problematic for customers to manage.
So we feel very good about our position there. In terms of timing of when we’re going to go GA, we’re just currently getting feedback and responding to feedback. And we want to be very sure that we’ve addressed kind of the low-hanging fruit before we go generally available, but we’re really sexcited about the opportunity that stream processing offers us.
Unidentified Analyst: Yeah, ideal. I might just also follow on to that and then add in my kind of proper second question. The follow-on is, is Stream Processing embedded in the guidance for fiscal ‘25? And then the question I had is about the bottom line. The guidance, if I’m not mistaken, is a 10% op margins in fiscal ‘25. Assuming the same beat as you guys did this year, so if 6 points of beat would put us at about 16 points of op margin exiting fiscal ‘25, so kind of net-net flat year-on-year. Is that due to this kind of putting the kind of foot on the gas in terms of hiring and really trying to be aggressive at adding headcount? Thank you.
Michael Gordon: Yeah, so a couple different questions there. Let me try and get them all. So obviously our plans related to Stream Processing are included in our guidance, but we don’t — most of that will show up in Atlas overall when you think about the results. And certainly, whether it’s new workloads or anything else, they tend to start off small and grow quickly in those first couple of quarters. But I wouldn’t think of it as a major needle mover in the context of the fiscal ‘25 results, but we’re very excited about it over the long term. In terms of the op margin, yes, our guidance is to go backwards on operating margin relative to fiscal ‘24. It will result in 500 basis points improvement over the two-year basis.
And the thinking and the rationale related to that is the fact that if you take a step back and you look at us relative to the IPO, we had mapped out needing around 55 points of margin improvement to get to our target margins. With the fiscal ‘24 results, we effectively delivered 50 of those 55 points and yet are still at 2% market share and so it makes sense to continue investing in the opportunity, particularly on the sales productive capacity as we talked about but also to execute against the product roadmap. And so we will continue to do that, and that will take us backwards relative to last year, but positive 500 basis points on the two-year basis.
Unidentified Analyst: Tremendous. Thank you so much.
Operator: Thank you. One moment, please. Our next question comes to the line of Brad Sills of Bank of America. Your line is open.
