Document


 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
___________________
FORM 8-K
___________________

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 12, 2017

___________________
MONGODB, INC.
(Exact Name of Registrant as Specified in its Charter)
___________________
 
Delaware
001-38240
26-1463205
(State or Other Jurisdiction
of Incorporation)
(Commission File Number)
(IRS Employer
Identification No.)
 
 
 
229 W. 43rd Street, 5th Floor
New York, NY
 
10036
(Address of Principal Executive Offices)
 
(Zip Code)
646-727-4092
(Registrant’s Telephone Number, Including Area Code)
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)

___________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
¨
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
 





Item 2.02    Results of Operations and Financial Condition.
On December 12, 2017, MongoDB, Inc. issued a press release and will hold a conference call announcing its financial results for the fiscal quarter ended October 31, 2017. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8‑K and is incorporated by reference.
The information furnished under this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or subject to the liabilities of that section. The information shall not be deemed incorporated by reference into any other filing with the Securities and Exchange Commission made by MongoDB, Inc., regardless of any general incorporation language in such filing.

Item 9.01    Financial Statements and Exhibits.
(d)    Exhibits
 
 
 
Exhibit No.
 
Description
99.1
 






SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
MONGODB, INC.
 
 
 
 
 
 
 
 
 
 
 
 
Dated: December 12, 2017
By:
 
/s/ Dev Ittycheria
 
 
 
Name: Dev Ittycheria
Title: President and Chief Executive Officer






Exhibit
Exhibit 99.1


MongoDB, Inc. Announces Third Quarter Fiscal 2018 Financial Results
Total Revenue of $41.5 million, up 58% Year-over-Year
Over 4,900 Customers at End of Third Quarter, up ~88% Year-over-Year
Over 2,600 MongoDB Atlas Customers at End of Third Quarter, up ~37% Quarter-over-Quarter
New York City, New York - December 12, 2017 - MongoDB, Inc. (NASDAQ: MDB), the leading modern, general purpose database platform, today announced its financial results for the three and nine months ended October 31, 2017.
“MongoDB delivered strong third quarter results, highlighted by 58% revenue growth,” said Dev Ittycheria, President and Chief Executive Officer of MongoDB. “Some of the largest organizations in the world are increasingly embracing MongoDB’s next-generation database due to the superior flexibility, scalability and developer productivity benefits offered, as well as the lower total cost of ownership realized. In addition, strong and growing demand for consuming MongoDB as a service is driving rapid growth of MongoDB Atlas, our database-as-a-service offering.”
Ittycheria added, “Completing our initial public offering during the quarter was a milestone for MongoDB. The proceeds from the offering will enable us to execute against our long-term growth initiatives and position us to capture an increasing share of the $45 billion database market.”
Third Quarter Fiscal 2018 Financial Highlights
Revenue: Total revenue was $41.5 million in the third quarter fiscal 2018, an increase of 58% year-over-year. Subscription revenue was $37.9 million, an increase of 59% year-over-year, and services revenue was $3.6 million, an increase of 44% year-over-year.
Gross Profit: Gross profit was $30.4 million in the third quarter fiscal 2018, representing a 73% gross margin consistent with the year-ago period. Non-GAAP gross profit was $30.7 million, representing a 74% non-GAAP gross margin.
Loss from Operations: Loss from operations was $24.1 million in the third quarter fiscal 2018, compared to $19.3 million in the year-ago period. Non-GAAP loss from operations was $18.4 million, compared to $15.0 million in the year-ago period.
Net Loss: Net loss was $24.2 million, or $1.39 per share based on 17.4 million weighted-average shares outstanding, in the third quarter fiscal 2018. This compares to $19.5 million, or $1.57 per share based on 12.4 million weighted-average shares outstanding, in the year-ago period. Non-GAAP net loss was $18.5 million, or $0.44 per share based on 41.7 million non-GAAP weighted-average shares outstanding, which we refer to as non-GAAP net loss per share. This compares to $15.2 million, or $0.40 per share based on 38.3 million non-GAAP weighted-average shares outstanding, in the year-ago period.
Cash Flow: As of October 31, 2017, MongoDB had $289.1 million in cash, cash equivalents, short-term investments and restricted cash, which includes approximately $201.6 million of net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, from its initial public offering. During the three months ended October 31, 2017, MongoDB used $10.3 million of cash in operations and $0.1 million in capital expenditures, leading to negative free cash flow of $10.4 million, compared to negative free cash flow of $6.5 million in the year-ago period.
A reconciliation of each Non-GAAP measure to the most directly comparable GAAP measure has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”



Third Quarter Fiscal 2018 and Recent Business Highlights
Announced MongoDB 3.6, which includes a number of innovations and enhancements designed to make developers more productive, to expedite data-driven insights and to scale to run in any environment. Key innovations include: Change Streams, which enable developers to easily build event-driven, real-time applications; Retryable Writes, which ensure that if a database server goes down for just a millisecond, the user won’t notice because the database will “retry” the operation in the background; Cross Region Replication for MongoDB Atlas, which ensures that an application stays up even if an entire cloud region goes down, while also allowing MongoDB customers to put data closer to their users for optimal user experience; new diagnostic and intelligence capabilities in MongoDB’s management platform, such as quickly identifying slow running queries and auto-generating recommendations for new indexes, which make it easier than ever for teams to inspect and improve database and application performance.
Completed its initial public offering and listed its shares on the Nasdaq Global Market in October 2017. MongoDB sold 9,200,000 shares of its Class A common stock at a price of $24.00 per share, including the full exercise of the underwriters' option to purchase an additional 1,200,000 shares of Class A common stock, for a total of approximately $201.6 million in net proceeds after taking into account underwriting costs and offering costs.
Continued growth of the MongoDB ecosystem, including expanded partnerships with Infosys and Tableau. Together with Infosys, MongoDB launched a new mainframe offloading solution that builds upon the partnership the two companies announced last December to help enterprises accelerate their digital transformation and application modernization strategies. Partnered with Tableau to announce MongoDB Connector for BI is now certified by Tableau as a named connector. For the first time, users can visually analyze rich, modern data structures accessed directly from MongoDB Enterprise Advanced.
Business Outlook
Based on information as of today, December 12, 2017, MongoDB is issuing the following financial guidance for the fourth quarter and full year fiscal 2018 (both periods ending January 31, 2018):
 
Fourth Quarter Fiscal 2018
Full Year Fiscal 2018
Revenue
$42.0 million to $42.5 million
$151.5 million to $152.0 million
Non-GAAP Loss from Operations
$(21.5) million to $(21.0) million
$(76.5) million to $(76.0) million
Non-GAAP Net Loss per Share
$(0.43) to $(0.42)
$(1.77) to $(1.76)
Reconciliation of non-GAAP loss from operations and non-GAAP net loss per share guidance to the most directly comparable GAAP measures is not available without unreasonable efforts on a forward-looking basis due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures; in particular, the measures and effects of stock-based compensation expense specific to equity compensation awards that are directly impacted by unpredictable fluctuations in our stock price. We expect the variability of the above charges to have a significant, and potentially unpredictable, impact on our future GAAP financial results.
Conference Call Information
MongoDB will host a conference call today, December 12, 2017, at 5:00 p.m. (Eastern Time) to discuss its financial results and business outlook. A live webcast of the call will be available on the “Investor Relations” page of MongoDB’s website at http://investors.mongodb.com. To access the call by phone, dial 800-239-9838 (domestic) or 323-794-2551 (international). A replay of this conference call will be available for a limited time at 844-512-2921 (domestic) or 412-317-6671 (international). The replay conference ID is 9688162. A replay of the webcast will also be available for a limited time at http://investors.mongodb.com.

2


About MongoDB
MongoDB is the leading modern, general purpose database platform, designed to unleash the power of software and data for developers and the applications they build. Headquartered in New York, MongoDB has more than 4,900 customers in over 90 countries. The MongoDB database platform has been downloaded over 30 million times and there have been more than 700,000 MongoDB University registrations.
Forward-Looking Statements
This press release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning our financial guidance for the fourth quarter and full year fiscal 2018, our position to execute on our go-to-market strategy, and our ability to expand our leadership position and market opportunity. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “would” or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions we have made. Although we believe that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, we can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: our limited operating history; our history of losses; failure of our database platform to satisfy customer demands; the effects of increased competition; our ability to effectively expand our sales and marketing organization; our ability to add new customers or increase sales to our existing customers; our adoption strategies and licensing model; our investments in new products and our ability to introduce new features, services or enhancements; our ability to manage our growth effectively and successfully recruit additional highly-qualified personnel; the price volatility of our common stock; and those risks detailed from time-to-time under the caption "Risk Factors" and elsewhere in our Securities and Exchange Commission ("SEC") filings and reports, including in our recently filed Registration Statement on Form S-1, which was declared effective by the SEC on October 18, 2017, as well as future filings and reports by us. Except as required by law, we undertake no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.
Non-GAAP Financial Measures
This press release includes the following financial measures defined as non-GAAP financial measures by the SEC: non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per share and free cash flow. Non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations and non-GAAP net loss exclude stock-based compensation expense and, in the case of non-GAAP net loss, change in fair value of warrant liability. Non-GAAP net loss per share is calculated by dividing non-GAAP net loss by the weighted average shares used to compute net loss per share attributable to common stockholders, basic and diluted, giving effect to the conversion of preferred stock at the beginning of the period. MongoDB uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating MongoDB’s ongoing operational performance. MongoDB believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in MongoDB’s industry, many of which present similar non-GAAP financial measures to investors.
Free cash flow represents net cash used in operating activities less capital expenditures and capitalized software development costs, if any. MongoDB uses free cash flow to understand and evaluate its liquidity and to generate future operating plans. The exclusion of capital expenditures and amounts capitalized for software development facilitates comparisons of MongoDB’s liquidity on a period-to-period basis and excludes items that it does not consider to be indicative of its liquidity. MongoDB believes that free cash flow is a measure of liquidity that

3


provides useful information to investors in understanding and evaluating the strength of its liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business in the same manner as MongoDB’s management and board of directors.
Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In particular, other companies may report non-GAAP gross profit, non-GAAP gross margin, non-GAAP loss from operations, non-GAAP net loss, non-GAAP net loss per share, free cash flow or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures. Investors are encouraged to review the reconciliation of these non-GAAP measures to their most directly comparable GAAP financial measures, as presented below. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of MongoDB's website at http://investors.mongodb.com.
Investor Relations
Brian Denyeau
ICR for MongoDB
646-277-1251
ir@mongodb.com
 
Media Relations
MongoDB
866-237-8815 x7186
communications@mongodb.com


4


MONGODB, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except share and per share data)
(unaudited)
 
October 31, 2017
 
January 31, 2017
Assets
 
 
 
Current assets:
 
 
 
Cash and cash equivalents
$
242,745

 
$
69,305

Short-term investments
45,810

 
47,195

Accounts receivable, net of allowance for doubtful accounts of $1,456 and $958 as of October 31, 2017 and January 31, 2017, respectively
35,233

 
31,340

Deferred commissions
9,850

 
7,481

Prepaid expenses and other current assets
5,221

 
3,131

Total current assets
338,859

 
158,452

Property and equipment, net
4,430

 
4,877

Goodwill
1,700

 
1,700

Acquired intangible assets, net
1,848

 
2,511

Deferred tax assets
102

 
114

Other assets
7,056

 
6,778

Total assets
$
353,995

 
$
174,432

Liabilities, Redeemable Convertible Preferred Stock and Stockholders’ Equity (Deficit)
 
 
 
Current liabilities:
 
 
 
Accounts payable
$
3,147

 
$
2,841

Accrued compensation and benefits
10,870

 
11,402

Other accrued liabilities
10,788

 
5,269

Deferred revenue
92,447

 
78,278

Total current liabilities
117,252

 
97,790

Redeemable convertible preferred stock warrant liability

 
1,272

Deferred rent, non-current
973

 
1,058

Deferred tax liability, non-current
259

 
108

Deferred revenue, non-current
22,326

 
15,461

Total liabilities
140,810

 
115,689

Redeemable convertible preferred stock, par value $0.001 per share; no shares authorized, issued or outstanding as of October 31, 2017; 41,234,841 shares authorized as of January 31, 2017; 41,148,282 shares issued and outstanding with aggregate liquidation preference of $345,997 as of January 31, 2017

 
345,257

Stockholders’ (deficit) equity:
 
 
 
Class A common stock, par value of $0.001 per share; 1,000,000,000 and 162,500,000 shares authorized as of October 31, 2017 and January 31, 2017, respectively; 9,325,098 and no shares issued and outstanding as of October 31, 2017 and January 31, 2017, respectively
9

 

Class B common stock, par value of $0.001 per share; 100,000,000 and 113,000,000 shares authorized as of October 31, 2017 and January 31, 2017, respectively; 41,341,283 and 13,192,992 shares issued as of October 31, 2017 and January 31, 2017, respectively; 41,241,912 and 13,093,621 shares outstanding as of October 31, 2017 and January 31, 2017, respectively
42

 
13

Additional paid-in capital
632,055

 
62,557

Treasury stock, 99,371 shares as of October 31, 2017 and January 31, 2017
(1,319
)
 
(1,319
)
Accumulated other comprehensive loss
(216
)
 
(364
)
Accumulated deficit
(417,386
)
 
(347,401
)
Total stockholders’ (deficit) equity
213,185

 
(286,514
)
Total liabilities, redeemable convertible preferred stock and stockholders’ equity (deficit)
$
353,995

 
$
174,432



5


MONGODB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except share and per share data)
(unaudited)
 
Three Months Ended October 31,
 
Nine Months Ended October 31,
 
2017
 
2016
 
2017
 
2016
Revenue:
 
 
 
 
 
 
 
Subscription
$
37,885

 
$
23,805

 
$
99,603

 
$
64,018

Services
3,603

 
2,500

 
9,875

 
7,406

Total revenue
41,488

 
26,305

 
109,478

 
71,424

Cost of revenue(1):
 
 
 
 
 
 
 
Subscription
7,904

 
4,981

 
21,669

 
13,656

Services
3,167

 
2,238

 
8,789

 
7,866

Total cost of revenue
11,071

 
7,219

 
30,458

 
21,522

Gross profit
30,417

 
19,086

 
79,020

 
49,902

Operating expenses:
 
 
 
 
 
 
 
Sales and marketing(1)   
28,050

 
18,656

 
77,087

 
56,110

Research and development(1)   
16,588

 
13,300

 
45,414

 
38,540

General and administrative(1)   
9,829

 
6,385

 
26,533

 
19,916

Total operating expenses
54,467

 
38,341

 
149,034

 
114,566

Loss from operations
(24,050
)
 
(19,255
)
 
(70,014
)
 
(64,664
)
Other income (expense), net
170

 
(177
)
 
846

 
56

Loss before provision for income taxes
(23,880
)
 
(19,432
)
 
(69,168
)
 
(64,608
)
Provision for income taxes
336

 
103

 
817

 
253

Net loss
$
(24,216
)
 
$
(19,535
)
 
$
(69,985
)
 
$
(64,861
)
Net loss per share attributable to common stockholders, basic and diluted
$
(1.39
)
 
$
(1.57
)
 
$
(4.74
)
 
$
(5.41
)
Weighted-average shares used to compute net loss per share attributable to common stockholders, basic and diluted
17,421,642

 
12,418,879

 
14,749,500

 
11,983,324

 
 
 
 
 
 
 
 
(1) Includes stock-based compensation expense as follows:
 
 
 
 
 
 
 
 
Three Months Ended October 31,
 
Nine Months Ended October 31,
 
2017
 
2016
 
2017
 
2016
Cost of revenue—subscription
$
183

 
$
131

 
$
503

 
$
425

Cost of revenue—services
123

 
70

 
292

 
397

Sales and marketing
1,704

 
1,095

 
4,400

 
4,346

Research and development
1,505

 
1,206

 
4,072

 
4,518

General and administrative
2,184

 
1,732

 
5,799

 
6,831

Total stock‑based compensation expense
$
5,699

 
$
4,234

 
$
15,066

 
$
16,517



6


MONGODB, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
 
Three Months Ended October 31,
 
Nine Months Ended October 31,
 
2017
 
2016
 
2017
 
2016
Cash flows from operating activities
 
 
 
 
 
 
 
Net loss
$
(24,216
)
 
$
(19,535
)
 
$
(69,985
)
 
$
(64,861
)
Adjustments to reconcile net loss to net cash used in operating activities:
 
 
 
 
 
 
 
Depreciation and amortization
929

 
901

 
2,789

 
2,781

Stock-based compensation
5,695

 
4,234

 
15,066

 
16,517

Deferred income taxes
101

 
17

 
163

 
37

Change in fair value of warrant liability
 -

 
59

 
(101
)
 
(144
)
Change in operating assets and liabilities:
 
 
 
 
 
 
 
Accounts receivable
(3,007
)
 
(3,841
)
 
(4,653
)
 
4,600

Prepaid expenses and other current assets
822

 
(384
)
 
(2,120
)
 
(1,435
)
Deferred commissions
(1,848
)
 
(1,714
)
 
(2,217
)
 
(2,344
)
Other long-term assets
(36
)
 
11

 
(670
)
 
(203
)
Accounts payable
675

 
(741
)
 
687

 
(272
)
Deferred rent
(275
)
 
(207
)
 
(85
)
 
(493
)
Accrued liabilities
918

 
1,692

 
2,163

 
2,057

Deferred revenue
9,942

 
13,834

 
21,794

 
15,768

Net cash used in operating activities
(10,300
)
 
(5,674
)
 
(37,169
)
 
(27,992
)
Cash flows from investing activities
 
 
 
 
 
 
 
Purchases of property and equipment
(88
)
 
(785
)
 
(1,714
)
 
(1,422
)
Proceeds from maturities of marketable securities
10,000

 
19,917

 
74,230

 
114,792

Purchases of marketable securities
(4,125
)
 

 
(72,879
)
 
(82,036
)
Net cash provided by (used in) investing activities
5,787

 
19,132

 
(363
)
 
31,334

Cash flows from financing activities
 
 
 
 
 
 
 
Proceeds from exercise of stock options, including early exercised stock options
2,217

 
2,919

 
8,201

 
7,187

Repurchase of early exercised stock options
(75
)
 
(22
)
 
(149
)
 
(22
)
Proceeds from the IPO, net of underwriting discounts and commissions
205,494

 

 
205,494

 

Proceeds from exercise of redeemable convertible preferred stock warrants
 -

 

 
1

 

Payment of offering costs
(1,167
)
 

 
(2,344
)
 

Net cash provided by financing activities
206,469

 
2,897

 
211,203

 
7,165

Effect of exchange rate changes on cash, cash equivalents, and restricted cash
22

 
(74
)
 
182

 
42

Net increase in cash, cash equivalents, and restricted cash
201,978

 
16,281

 
173,853

 
10,549

Cash, cash equivalents, and restricted cash, beginning of period
41,287

 
27,581

 
69,412

 
33,313

Cash, cash equivalents, and restricted cash, end of period
$
243,265

 
$
43,862

 
$
243,265

 
$
43,862



7


MONGODB, INC.
RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES
(in thousands, except share and per share data)
(unaudited)
 
Three Months Ended October 31,
 
Nine Months Ended October 31,
 
2017
 
2016
 
2017
 
2016
Reconciliation of GAAP gross profit to non-GAAP gross profit:
 
 
 
 
 
 
 
Gross profit on a GAAP basis
$
30,417

 
$
19,086

 
$
79,020

 
$
49,902

Add back:
 
 
 
 
 
 
 
Stock-based compensation expense: Cost of Revenue—Subscription
183

 
131

 
503

 
425

Stock-based compensation expense: Cost of Revenue—Services
123

 
70

 
292

 
397

Non-GAAP gross profit
$
30,723

 
$
19,287

 
$
79,815

 
$
50,724

 
 
 
 
 
 
 
 
Reconciliation of GAAP loss from operations to non-GAAP loss from operations:
 
 
 
 
 
 
 
Loss from operations on a GAAP basis
$
(24,050
)
 
$
(19,255
)
 
$
(70,014
)
 
$
(64,664
)
Add back:
 
 
 
 
 
 
 
Stock-based compensation expense
5,699

 
4,234

 
15,066

 
16,517

Non-GAAP loss from operations
$
(18,351
)
 
$
(15,021
)
 
$
(54,948
)
 
$
(48,147
)
 
 
 
 
 
 
 
 
Reconciliation of GAAP net loss to non-GAAP net loss:
 
 
 
 
 
 
 
Net loss on a GAAP basis
$
(24,216
)
 
$
(19,535
)
 
$
(69,985
)
 
$
(64,861
)
Add back:
 
 
 
 
 
 
 
Stock-based compensation expense
5,699

 
4,234

 
15,066

 
16,517

Change in fair value of warrant liability
 –

 
59

 
(101
)
 
(144
)
Non-GAAP net loss
$
(18,517
)
 
$
(15,242
)
 
$
(55,020
)
 
$
(48,488
)
 
 
 
 
 
 
 
 
Reconciliation of GAAP weighted average shares outstanding, basic and diluted, to non-GAAP weighted average shares outstanding, basic and diluted:
 
 
 
 
 
 
 
Weighted average shares used to compute net loss per share attributable to common stockholders, basic and diluted, on a GAAP basis
17,421,642

 
12,418,879

 
14,749,500

 
11,983,324

Add back:
 
 
 
 
 
 
 
Additional weighted average shares giving effect to conversion of preferred stock at the beginning of the period
24,316,192

 
25,853,450

 
26,064,330

 
25,853,450

Non-GAAP weighted average shares used to compute net loss per share, basic and diluted
41,737,834

 
38,272,329

 
40,813,830

 
37,836,774

The following table presents a reconciliation of free cash flow to net cash used in operating activities, the most directly comparable GAAP measure, for each of the periods indicated:
 
Three Months Ended October 31,
 
Nine Months Ended October 31,
 
2017
 
2016
 
2017
 
2016
Net cash used in operating activities
$
(10,300
)
 
$
(5,674
)
 
$
(37,169
)
 
$
(27,992
)
Capital expenditures
(88
)
 
(785
)
 
(1,714
)
 
(1,422
)
Capitalized software

 

 

 

Free cash flow
$
(10,388
)
 
$
(6,459
)
 
$
(38,883
)
 
$
(29,414
)

8


MONGODB, INC.
CALCULATION OF CERTAIN NON-GAAP MEASURES
(in thousands, except share and per share data)
(unaudited)
 
Three Months Ended October 31,
 
Nine Months Ended October 31,
 
2017
 
2016
 
2017
 
2016
Calculation of net loss per share, basic and diluted, on a GAAP basis
 
 
 
 
 
 
 
Net loss
$
(24,216
)
 
$
(19,535
)
 
$
(69,985
)
 
$
(64,861
)
Divided by:
 
 
 
 
 
 
 
Weighted average shares used to compute net loss per share attributable to common stockholders, basic and diluted
17,421,642

 
12,418,879

 
14,749,500

 
11,983,324

Net loss per share attributable to common stockholders, basic and diluted, on a GAAP basis
$
(1.39
)
 
$
(1.57
)
 
$
(4.74
)
 
$
(5.41
)
 
 
 
 
 
 
 
 
Calculation of non-GAAP net loss per share, basic and diluted
 
 
 
 
 
 
 
Non-GAAP net loss
$
(18,517
)
 
$
(15,242
)
 
$
(55,020
)
 
$
(48,488
)
Divided by:
 
 
 
 
 
 
 
Non-GAAP weighted average shares used to compute net loss per share attributable to common stockholders, basic and diluted
41,737,834

 
38,272,329

 
40,813,830

 
37,836,774

Non-GAAP net loss per share attributable to common stockholders, basic and diluted
$
(0.44
)
 
$
(0.40
)
 
$
(1.35
)
 
$
(1.28
)



9