MongoDB, Inc. (NASDAQ:MDB) Q4 2024 Earnings Call Transcript

Michael Gordon: Yeah, so just two quick things in the interest of time. So a reminder, the several was the incremental amount over and above the normal amount that we experienced. So that’s the sort of the principle that we take where we try and call out differences or variations from sort of the normal behavior. And so it was several million more than what we would normally see. The $40 million is the amount that was recognized in fiscal ‘24. We do see that going to zero effectively. And you’re right, that’s directly as a result of the changes that we’ve made in the go-to market and the fact that we are not prioritizing commitments and haven’t since the start of last fiscal year. And so the result of that is that you have many fewer commitments and unused — the revenue for unused credits simply just reflects the revenue at the end of that contract period that you haven’t realized or recognized through consumption.

And so we expect that to go away because we’ve taken a different approach to the market to drive greater adoption of workloads and all the other things that we’ve talked about, which is the rationale for doing that in the first place. So hopefully that helps put all that in context.

Tyler Radke: It does. Thank you.

Operator: Thank you. That does conclude our conference for today. I’d like to turn the call back over to Dev, CEO, for any closing remarks.

Dev Ittycheria: Thank you. Again, I thank everyone for joining us today. I just want to reiterate that we had a strong quarter and year as we executed our opportunity. We do expect fiscal ‘25 to play out similarly to fiscal ‘24 with a healthy new business and stable consumption trends. We are very excited about the long-term AI opportunity, but still believe it’s early days as customers are mainly in the experimentation and prototyping stages of building AI applications. And our priorities for fiscal ‘25 are to invest in deepening our product advantage while remaining focused on acquiring new workloads and establishing ourselves as the standard for building modern applications. So thank you again for joining us and we’ll talk to you soon. Take care. Bye-bye.

Operator: Thank you. Ladies and gentlemen, this does conclude today’s conference. Thank you all for participating. You may now disconnect. Have a great day.