Cover Page
Cover Page - shares | 9 Months Ended | |
Oct. 31, 2020 | Dec. 07, 2020 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Oct. 31, 2020 | |
Document Transition Report | false | |
Entity File Number | 001-38240 | |
Entity Registrant Name | MONGODB, INC. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 26-1463205 | |
Entity Address, Address Line One | 1633 Broadway, | |
Entity Address, Address Line Two | 38th Floor | |
Entity Address, City or Town | New York, | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10019 | |
City Area Code | 646 | |
Local Phone Number | 727-4092 | |
Title of 12(b) Security | Class A Common Stock, par value $0.001 per share | |
Trading Symbol | MDB | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 60,266,318 | |
Entity Central Index Key | 0001441816 | |
Current Fiscal Year End Date | --01-31 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 414,762 | $ 706,192 |
Short-term investments | 551,539 | 280,326 |
Accounts receivable, net of allowance for doubtful accounts of $4,710 and $2,515 as of October 31, 2020 and January 31, 2020, respectively | 91,784 | 85,554 |
Deferred commissions | 30,090 | 24,219 |
Prepaid expenses and other current assets | 15,611 | 16,905 |
Total current assets | 1,103,786 | 1,113,196 |
Property and equipment, net | 63,588 | 58,316 |
Operating lease right-of-use assets | 36,909 | 11,147 |
Goodwill | 55,830 | 55,830 |
Acquired intangible assets, net | 28,400 | 34,779 |
Deferred tax assets | 728 | 615 |
Other assets | 66,620 | 54,684 |
Total assets | 1,355,861 | 1,328,567 |
Current liabilities: | ||
Accounts payable | 3,644 | 2,849 |
Accrued compensation and benefits | 56,802 | 41,427 |
Operating lease liabilities (current) | 4,314 | 3,750 |
Other accrued liabilities | 27,457 | 26,860 |
Deferred revenue | 179,322 | 167,498 |
Total current liabilities | 271,539 | 242,384 |
Deferred tax liability, non-current | 828 | 821 |
Operating lease liabilities, non-current | 36,501 | 8,113 |
Deferred revenue, non-current | 16,497 | 23,281 |
Convertible senior notes, net | 947,652 | 911,075 |
Other liabilities, non-current | 61,040 | 60,035 |
Total liabilities | 1,334,057 | 1,245,709 |
Commitments and contingencies (Note 7) | ||
Stockholders’ equity: | ||
Additional paid-in capital | 883,002 | 752,127 |
Treasury stock, 99,371 shares (repurchased at an average of $13.27 per share) as of October 31, 2020 and January 31, 2020 | (1,319) | (1,319) |
Accumulated other comprehensive income (loss) | (337) | 225 |
Accumulated deficit | (859,602) | (668,232) |
Total stockholders’ equity | 21,804 | 82,858 |
Total liabilities and stockholders’ equity | 1,355,861 | 1,328,567 |
Class A Common Stock | ||
Stockholders’ equity: | ||
Common stock | 60 | 48 |
Class B Common Stock | ||
Stockholders’ equity: | ||
Common stock | $ 0 | $ 9 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Parentheticals) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Oct. 31, 2020 | Jan. 31, 2020 | |
Current assets: | ||
Allowance for doubtful accounts | $ 4,710 | $ 2,515 |
Stockholders’ equity: | ||
Treasury stock (in shares) | 99,371 | 99,371 |
Average repurchase price of treasury stock shares (in dollars per share) | $ 13.27 | $ 13.27 |
Class A Common Stock | ||
Stockholders’ equity: | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock authorized (in shares) | 1,000,000,000 | 1,000,000,000 |
Common stock issued (in shares) | 60,255,524 | 48,512,090 |
Common stock outstanding (in shares) | 60,156,153 | 48,512,090 |
Class B Common Stock | ||
Stockholders’ equity: | ||
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock authorized (in shares) | 0 | 100,000,000 |
Common stock issued (in shares) | 0 | 8,969,824 |
Common stock outstanding (in shares) | 0 | 8,870,453 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Revenue: | ||||
Total revenue | $ 150,771 | $ 109,441 | $ 419,381 | $ 298,197 |
Cost of revenue: | ||||
Total cost of revenue | 46,110 | 32,191 | 126,091 | 90,565 |
Gross profit | 104,661 | 77,250 | 293,290 | 207,632 |
Operating expenses: | ||||
Sales and marketing | 83,214 | 57,015 | 227,417 | 156,659 |
Research and development | 54,363 | 39,387 | 149,250 | 107,395 |
General and administrative | 25,175 | 19,562 | 66,534 | 50,541 |
Total operating expenses | 162,752 | 115,964 | 443,201 | 314,595 |
Loss from operations | (58,091) | (38,714) | (149,911) | (106,963) |
Other income (expense): | ||||
Interest income | 572 | 1,986 | 4,331 | 6,520 |
Interest expense | (14,093) | (4,813) | (41,838) | (14,442) |
Other expense, net | (113) | (283) | (1,583) | (994) |
Loss before provision for (benefit from) income taxes | (71,725) | (41,824) | (189,001) | (115,879) |
Provision for (benefit from) income taxes | 926 | 559 | 2,142 | (2,920) |
Net loss | $ (72,651) | $ (42,383) | $ (191,143) | $ (112,959) |
Net loss per share, basic and diluted (in dollars per share) | $ (1.22) | $ (0.75) | $ (3.27) | $ (2.03) |
Weighted-average shares used to compute net loss per share, basic and diluted (in shares) | 59,368,167 | 56,411,779 | 58,476,521 | 55,600,484 |
Subscription | ||||
Revenue: | ||||
Total revenue | $ 144,069 | $ 103,827 | $ 401,403 | $ 281,977 |
Cost of revenue: | ||||
Total cost of revenue | 38,642 | 26,497 | 103,240 | 73,465 |
Services | ||||
Revenue: | ||||
Total revenue | 6,702 | 5,614 | 17,978 | 16,220 |
Cost of revenue: | ||||
Total cost of revenue | $ 7,468 | $ 5,694 | $ 22,851 | $ 17,100 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Statement of Comprehensive Income [Abstract] | ||||
Net loss | $ (72,651) | $ (42,383) | $ (191,143) | $ (112,959) |
Other comprehensive income (loss), net of tax: | ||||
Unrealized gain (loss) on available-for-sale securities | (341) | 219 | (24) | 298 |
Foreign currency translation adjustment | (65) | 302 | (538) | 65 |
Other comprehensive gain (loss) | (406) | 521 | (562) | 363 |
Total comprehensive loss | $ (73,057) | $ (41,862) | $ (191,705) | $ (112,596) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands | Total | Class A and Class B Common Stock | Additional Paid-In Capital | Treasury Stock | Accumulated Other Comprehensive Income (Loss) | Accumulated Deficit | Cumulative Effect, Period of Adoption, Adjustment | Cumulative Effect, Period of Adoption, AdjustmentAccumulated Deficit |
Beginning balance (in shares) at Jan. 31, 2019 | 54,321,810 | |||||||
Beginning balance at Jan. 31, 2019 | $ 264,566 | $ 54 | $ 754,612 | $ (1,319) | $ (174) | $ (488,607) | $ (4,103) | $ (4,103) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Stock option exercises (in shares) | 831,901 | |||||||
Stock option exercises | 6,438 | $ 1 | 6,437 | |||||
Repurchase of early exercised options (in shares) | (3,981) | |||||||
Vesting of early exercised stock options | 127 | 127 | ||||||
Vesting of restricted stock units (in shares) | 126,346 | |||||||
Stock-based compensation | 14,009 | 14,009 | ||||||
Unrealized gain (loss) on available-for-sale securities | 58 | 58 | ||||||
Foreign currency translation adjustment | 13 | 13 | ||||||
Net loss | (33,240) | (33,240) | ||||||
Ending balance (in shares) at Apr. 30, 2019 | 55,276,076 | |||||||
Ending balance at Apr. 30, 2019 | 247,868 | $ 55 | 775,185 | (1,319) | (103) | (525,950) | ||
Beginning balance (in shares) at Jan. 31, 2019 | 54,321,810 | |||||||
Beginning balance at Jan. 31, 2019 | 264,566 | $ 54 | 754,612 | (1,319) | (174) | (488,607) | (4,103) | (4,103) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Unrealized gain (loss) on available-for-sale securities | 298 | |||||||
Foreign currency translation adjustment | 65 | |||||||
Net loss | (112,959) | |||||||
Ending balance (in shares) at Oct. 31, 2019 | 56,678,662 | |||||||
Ending balance at Oct. 31, 2019 | 218,835 | $ 57 | 825,577 | (1,319) | 189 | (605,669) | ||
Beginning balance (in shares) at Apr. 30, 2019 | 55,276,076 | |||||||
Beginning balance at Apr. 30, 2019 | 247,868 | $ 55 | 775,185 | (1,319) | (103) | (525,950) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Stock option exercises (in shares) | 665,543 | |||||||
Stock option exercises | 4,914 | $ 1 | 4,913 | |||||
Repurchase of early exercised options (in shares) | (209) | |||||||
Vesting of early exercised stock options | 70 | 70 | ||||||
Vesting of restricted stock units (in shares) | 206,587 | |||||||
Stock-based compensation | 17,662 | 17,662 | ||||||
Issuance of common stock under the Employee Stock Purchase Plan (in shares) | 90,619 | |||||||
Issuance of common stock under the Employee Stock Purchase Plan | 6,394 | 6,394 | ||||||
Unrealized gain (loss) on available-for-sale securities | 21 | 21 | ||||||
Foreign currency translation adjustment | (250) | (250) | ||||||
Net loss | (37,336) | (37,336) | ||||||
Ending balance (in shares) at Jul. 31, 2019 | 56,238,616 | |||||||
Ending balance at Jul. 31, 2019 | 239,343 | $ 56 | 804,224 | (1,319) | (332) | (563,286) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Stock option exercises (in shares) | 232,389 | |||||||
Stock option exercises | 1,934 | $ 1 | 1,933 | |||||
Repurchase of early exercised options (in shares) | (542) | |||||||
Vesting of early exercised stock options | 53 | 53 | ||||||
Vesting of restricted stock units (in shares) | 208,199 | |||||||
Stock-based compensation | 19,367 | 19,367 | ||||||
Unrealized gain (loss) on available-for-sale securities | 219 | 219 | ||||||
Foreign currency translation adjustment | 302 | 302 | ||||||
Net loss | (42,383) | (42,383) | ||||||
Ending balance (in shares) at Oct. 31, 2019 | 56,678,662 | |||||||
Ending balance at Oct. 31, 2019 | 218,835 | $ 57 | 825,577 | (1,319) | 189 | (605,669) | ||
Beginning balance (in shares) at Jan. 31, 2020 | 57,382,543 | |||||||
Beginning balance at Jan. 31, 2020 | 82,858 | $ 57 | 752,127 | (1,319) | 225 | (668,232) | (227) | (227) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Stock option exercises (in shares) | 373,394 | |||||||
Stock option exercises | 2,995 | $ 1 | 2,994 | |||||
Repurchase of early exercised options (in shares) | (79) | |||||||
Vesting of early exercised stock options | 42 | 42 | ||||||
Vesting of restricted stock units (in shares) | 241,569 | |||||||
Stock-based compensation | 30,567 | 30,567 | ||||||
Conversion of 2024 convertible senior notes (in shares) | 8 | |||||||
Unrealized gain (loss) on available-for-sale securities | 848 | 848 | ||||||
Foreign currency translation adjustment | (75) | (75) | ||||||
Net loss | (53,967) | (53,967) | ||||||
Ending balance (in shares) at Apr. 30, 2020 | 57,997,435 | |||||||
Ending balance at Apr. 30, 2020 | 63,041 | $ 58 | 785,730 | (1,319) | 998 | (722,426) | ||
Beginning balance (in shares) at Jan. 31, 2020 | 57,382,543 | |||||||
Beginning balance at Jan. 31, 2020 | $ 82,858 | $ 57 | 752,127 | (1,319) | 225 | (668,232) | $ (227) | $ (227) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Stock option exercises (in shares) | 1,832,500 | |||||||
Unrealized gain (loss) on available-for-sale securities | $ (24) | |||||||
Foreign currency translation adjustment | (538) | |||||||
Net loss | (191,143) | |||||||
Ending balance (in shares) at Oct. 31, 2020 | 60,156,153 | |||||||
Ending balance at Oct. 31, 2020 | 21,804 | $ 60 | 883,002 | (1,319) | (337) | (859,602) | ||
Beginning balance (in shares) at Apr. 30, 2020 | 57,997,435 | |||||||
Beginning balance at Apr. 30, 2020 | 63,041 | $ 58 | 785,730 | (1,319) | 998 | (722,426) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Stock option exercises (in shares) | 471,269 | |||||||
Stock option exercises | 4,051 | $ 1 | 4,050 | |||||
Repurchase of early exercised options (in shares) | (881) | |||||||
Vesting of early exercised stock options | 25 | 25 | ||||||
Vesting of restricted stock units (in shares) | 305,428 | |||||||
Stock-based compensation | 37,525 | 37,525 | ||||||
Issuance of common stock under the Employee Stock Purchase Plan (in shares) | 84,482 | |||||||
Issuance of common stock under the Employee Stock Purchase Plan | 8,963 | 8,963 | ||||||
Unrealized gain (loss) on available-for-sale securities | (531) | (531) | ||||||
Foreign currency translation adjustment | (398) | (398) | ||||||
Net loss | (64,525) | (64,525) | ||||||
Ending balance (in shares) at Jul. 31, 2020 | 58,857,733 | |||||||
Ending balance at Jul. 31, 2020 | 48,151 | $ 59 | 836,293 | (1,319) | 69 | (786,951) | ||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||
Stock option exercises (in shares) | 987,837 | |||||||
Stock option exercises | 6,739 | $ 1 | 6,738 | |||||
Vesting of early exercised stock options | 19 | 19 | ||||||
Vesting of restricted stock units (in shares) | 310,573 | |||||||
Stock-based compensation | 39,952 | 39,952 | ||||||
Issuance of common stock under the Employee Stock Purchase Plan (in shares) | 84,482 | |||||||
Conversion of 2024 convertible senior notes (in shares) | 10 | |||||||
Unrealized gain (loss) on available-for-sale securities | (341) | (341) | ||||||
Foreign currency translation adjustment | (65) | (65) | ||||||
Net loss | (72,651) | (72,651) | ||||||
Ending balance (in shares) at Oct. 31, 2020 | 60,156,153 | |||||||
Ending balance at Oct. 31, 2020 | $ 21,804 | $ 60 | $ 883,002 | $ (1,319) | $ (337) | $ (859,602) |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands | 9 Months Ended | |
Oct. 31, 2020 | Oct. 31, 2019 | |
Cash flows from operating activities | ||
Net loss | $ (191,143) | $ (112,959) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 9,515 | 9,824 |
Stock-based compensation | 108,044 | 51,038 |
Amortization of debt discount and issuance costs | 36,577 | 9,833 |
Amortization of finance right-of-use assets | 2,981 | 2,982 |
Amortization of operating right-of-use assets | 4,747 | 2,055 |
Non-cash interest on finance lease liabilities | 0 | 1,823 |
Deferred income taxes | (88) | (4,541) |
Accretion of discount on short-term investments | 383 | (3,619) |
Unrealized foreign exchange (gain) loss | (1,915) | 0 |
Change in operating assets and liabilities: | ||
Accounts receivable | (4,157) | 5,123 |
Prepaid expenses and other current assets | 247 | 189 |
Deferred commissions | (17,161) | (12,205) |
Other long-term assets | (117) | (148) |
Accounts payable | 743 | (152) |
Accrued liabilities | 19,633 | 16,176 |
Operating lease liabilities | (2,737) | (1,979) |
Deferred revenue | 5,765 | 14,898 |
Other liabilities, non-current | 4,655 | 740 |
Net cash used in operating activities | (24,028) | (20,922) |
Cash flows from investing activities | ||
Purchases of property and equipment | (10,942) | (2,350) |
Acquisition, net of cash acquired | 0 | (38,629) |
Investment in non-marketable securities | (500) | 0 |
Proceeds from maturities of marketable securities | 540,000 | 410,000 |
Purchases of marketable securities | (812,574) | (363,530) |
Net cash provided by (used in) investing activities | (284,016) | 5,491 |
Cash flows from financing activities | ||
Payments of issuance costs for convertible senior notes | (4,154) | 0 |
Proceeds from exercise of stock options, including early exercised stock options | 13,798 | 13,283 |
Proceeds from the issuance of common stock under the Employee Stock Purchase Plan | 8,963 | 6,394 |
Repurchase of early exercised stock options | (11) | (35) |
Principal repayments of finance leases | (3,450) | (798) |
Proceeds from tenant improvement allowance on finance lease | 856 | 0 |
Net cash provided by financing activities | 16,002 | 18,844 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 618 | 62 |
Net increase (decrease) in cash, cash equivalents and restricted cash | (291,424) | 3,475 |
Cash, cash equivalents and restricted cash, beginning of period | 706,706 | 148,347 |
Cash, cash equivalents and restricted cash, end of period | 415,282 | 151,822 |
Cash paid during the period for: | ||
Income taxes, net of refunds | 1,145 | 2,211 |
Interest expense | 4,387 | 1,125 |
Reconciliation of cash, cash equivalents and restricted cash within the condensed consolidated balance sheets, end of period, to the amounts shown in the statements of cash flows above | ||
Total cash, cash equivalents and restricted cash | $ 415,282 | $ 151,822 |
Organization and Description of
Organization and Description of Business | 9 Months Ended |
Oct. 31, 2020 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Description of Business | Organization and Description of BusinessMongoDB, Inc. (“MongoDB” or the “Company”) was originally incorporated in the state of Delaware in November 2007 under the name 10Gen, Inc. In August 2013, the Company changed its name to MongoDB, Inc. The Company is headquartered in New York City. MongoDB is the leading, modern, general purpose database platform. The Company’s robust platform enables developers to build and modernize applications rapidly and cost-effectively across a broad range of use cases. Organizations can deploy the Company’s platform at scale in the cloud, on-premise or in a hybrid environment. In addition to selling its software, the Company provides post-contract support, training and consulting services for its offerings. The Company’s fiscal year ends January 31. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 9 Months Ended |
Oct. 31, 2020 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | Summary of Significant Accounting Policies Basis of Presentation The accompanying interim condensed consolidated balance sheet as of October 31, 2020, the interim condensed consolidated statements of stockholders’ equity for the three and nine months ended October 31, 2020 and 2019, the interim condensed consolidated statements of operations and of comprehensive loss for the three and nine months ended October 31, 2020 and 2019 and the interim condensed consolidated statements of cash flows for the nine months ended October 31, 2020 and 2019 are unaudited. The interim unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position as of October 31, 2020, its statements of stockholders’ equity as of October 31, 2020 and 2019, its results of operations and of comprehensive loss for the three and nine months ended October 31, 2020 and 2019 and its statements of cash flows for the nine months ended October 31, 2020 and 2019. The financial data and the other financial information disclosed in the notes to these interim condensed consolidated financial statements related to the three- and nine-month periods are also unaudited. The results of operations for the three and nine months ended October 31, 2020 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2021 or for any other future year or interim period. The interim unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and accounts have been eliminated. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission. The condensed balance sheet data as of January 31, 2020 was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. Therefore, these interim unaudited condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in its Annual Report on Form 10-K for the fiscal year ended January 31, 2020 (the “2020 Form 10-K”). Use of Estimates The preparation of the interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, revenue recognition, allowances for doubtful accounts, the incremental borrowing rate related to the Company’s lease liabilities, stock-based compensation, fair value of the liability component of the convertible debt, fair value of common stock prior to the initial public offering, legal contingencies, fair value of acquired intangible assets and goodwill, useful lives of acquired intangible assets and property and equipment, fair value of non-marketable securities and accounting for income taxes. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. The ongoing COVID-19 pandemic has resulted in a global slowdown of economic activity that is likely to continue to decrease demand for a broad variety of goods and services, including from the Company’s customers, while also disrupting sales channels and marketing activities for an unknown period of time. The Company currently expects its revenue to continue to be negatively impacted by the slowdown in activity associated with the ongoing COVID-19 pandemic in the near-term. Estimates and assumptions about future events and their effects cannot be determined with certainty and therefore require the exercise of judgment. As of the date of issuance of these financial statements, the Company is not aware of any specific event or circumstance that would require the Company to update its estimates, assumptions and judgments or adjust the carrying value of its assets or liabilities. These estimates may change as new events occur and additional information is obtained and are recognized in the consolidated financial statements as soon as they become known. Actual results could differ from those estimates and any such differences may be material to the Company’s financial statements. Related Party Transactions All contracts with related parties are executed in the ordinary course of business. There were no material related party transactions in the three and nine months ended October 31, 2020 and 2019. As of October 31, 2020 and January 31, 2020, there were no material amounts payable to or amounts receivable from related parties. Significant Accounting Policies There have been no changes to the Company’s significant accounting policies as described in the Company’s 2020 Form 10-K other than (1) with respect to the Company’s recent investments in non-marketable securities during the three months ended October 31, 2020, as described in “Non-marketable Securities” below, and (2) as a result of the Company’s adoption of the new accounting guidance related to current expected credit losses, effective February 1, 2020, as discussed in “Recently Adopted Accounting Pronouncements - Credit Losses” below. Further disclosures with respect to the Company’s credit losses are also included in Note 3, Fair Value Measurements and Note 8, Revenue . Non-marketable Securities Non-marketable securities consist of equity investments in privately-held companies, which are classified as other assets on the consolidated balance sheets. These non-marketable equity securities do not have readily determinable fair values. Under the measurement alternative election, the Company accounts for these non-marketable securities at cost and adjusted for observable price changes in orderly transactions for the identical or similar investments of the same issuer or upon impairment and are not eligible for the net-asset-value practical expedient from fair value measurement. The measurement alternative election is reassessed each reporting period to determine whether the non-marketable securities continue to be eligible for this election. The Company periodically evaluates its non-marketable securities for impairment when events and circumstances indicate that the carrying amount of the investment may not be recovered. Impairment indicators may include, but are not limited to, a significant deterioration in earnings performance, credit rating, asset quality or business outlook or a significant adverse change in the regulatory, economic, or technological environment. During the three months ended October 31, 2020, the Company invested an aggregate $0.5 million in cash in non-marketable equity securities of two privately-held system integrators in an effort to accelerate such companies’ development of expertise with respect to MongoDB’s offerings. The Company evaluated its ownership, contractual and other interests in these entities and determined the Company has a variable interest in both entities. The Company’s maximum loss exposure is limited to the carrying value of these investments. The Company determined that, as of October 31, 2020, there were no variable interest entities required to be consolidated in the Company’s consolidated financial statements, as the Company was not the primary beneficiary and did not have the power to direct activities that most significantly impact the entities’ economic performance. Recently Adopted Accounting Pronouncements Goodwill Impairment. In January 2017, the FASB issued ASU 2017-04— Intangibles—Goodwill and Other (Topic 350) : Simplifying the Test for Goodwill Impairment. The new standard simplifies the measurement of goodwill by eliminating step two of the two-step impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new guidance, effective February 1, 2020, did not have an impact on the Company’s condensed consolidated financial statements. Cloud Computing . In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the accounting for implementation costs incurred in a hosting arrangement that is a service contract with the accounting for implementation costs incurred to develop or obtain internal-use software under ASC 350-40, in order to determine which costs to capitalize and recognize as an asset and which costs to expense. The Company adopted ASU 2018-15, effective February 1, 2020, prospectively for implementation costs incurred after the date of adoption. ASU 2018-15 did not have an impact on the Company’s condensed consolidated financial statements upon adoption. Credit Losses . In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost, which includes the Company's accounts receivable, including unbilled receivables, as well as certain financial instruments. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. ASU 2016-13 eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. Effective February 1, 2020, the Company adopted ASU 2016-13 using the modified retrospective transition approach, which requires a cumulative effect adjustment to the balance sheet as of February 1, 2020. As a result of the adoption, the Company recorded a cumulative effect adjustment to increase the accumulated deficit by $0.2 million, which represented the accelerated recognition of credit losses under the expected credit loss model of calculating current expected credit losses compared to the previous incurred loss impairment model. The following two significant accounting policies have changed from the Company’s 2020 Form 10-K as a result of the adoption of ASU 2016-13. Accounts Receivable and Allowance for Doubtful Accounts The Company records a receivable when an unconditional right to consideration exists, such that only the passage of time is required before payment of consideration is due. Timing of revenue recognition may differ from the timing of invoicing to customers. If revenue recognized on a contract exceeds the billings, then the Company records an unbilled receivable for that excess amount, which is included as part of accounts receivable, net in the Company’s condensed consolidated balance sheets. The Company is exposed to credit losses primarily through the sales of subscriptions and services, which are recorded as accounts receivable, inclusive of unbilled receivables. The Company performs initial and ongoing evaluations of its customers' financial position and generally extends credit without collateral. Accounts receivable are recorded at amortized cost, net of an allowance for doubtful accounts, and do not bear interest. The allowance for doubtful accounts represents the best estimate of lifetime expected credit losses against the existing accounts receivable, inclusive of unbilled receivables, based on certain factors including past collection experience, credit quality of the customer, current aging of the receivable balance, current economic conditions, reasonable and supportable forecasts, as well as specific circumstances arising with individual customers. Extensive judgment is required in assessing these factors. Due to the short-term nature of the Company’s accounts receivable, forecasts have limited relevance to the Company’s expected credit loss estimates. Accounts receivable are written off against the allowance when management determines a balance is uncollectible and the Company no longer actively pursues collection of the receivable. The Company’s estimates of the allowance for credit losses may not be indicative of our actual credit losses requiring additional charges to be incurred to reflect the actual amount collected. Marketable Securities The Company’s short-term investments consist of U.S. government treasury securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale debt securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments within current assets on the condensed consolidated balance sheets. Available-for-sale debt securities are recorded at fair value each reporting period. Realized gains and losses are determined based on the individual security level and are reported in other income (expense), net in the condensed consolidated statements of operations. Unrealized gains on these short-term investments are reported as a separate component of accumulated other comprehensive income (loss) on the condensed consolidated balance sheets until realized. If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value through other income (expense), net in the condensed consolidated statements of operations. If neither of these criteria are met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. The factors considered in determining whether a credit loss exists can include the extent to which fair value is less than the amortized cost basis, changes to the rating of the security by a rating agency, any adverse conditions specifically related to the security, as well as other factors. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other income (expense), net in the condensed consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. Unrealized losses not resulting from credit losses are recorded through accumulated other comprehensive income (loss) on the condensed consolidated balance sheets. New Accounting Pronouncements Not Yet Adopted Debt. In August 2020, the FASB issued ASU 2020-06— Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The new standard simplifies the accounting for convertible instruments by eliminating two of the three models in ASC 470-20 that required separate accounting for embedded conversion features. Accordingly, under ASU 2020-06, convertible debt instruments will likely be reported as a single liability instrument with no separate accounting for embedded conversion features. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. Additionally, among other changes, the new guidance eliminates some of the conditions for equity classification in ASC 815-40-25 for contracts in an entity’s own equity, thereby permitting these equity contracts to qualify for the derivative scope exception. The new standard also requires entities to use the if-converted method for all convertible instruments in the diluted earnings per share calculation and include the effect of share settlement for instruments that may be settled in cash or shares, except for certain liability-classified share-based payment awards. ASU 2020-06 is effective for the Company beginning February 1, 2022, although early adoption is permitted for fiscal periods beginning February 1, 2021. The new standard can be adopted using either a modified or full retrospective transition method. The Company is currently evaluating the impact of ASU 2020-06 on its consolidated financial statements and intends to early adopt the new standard on February 1, 2021. Income Taxes. In December 2019, the FASB issued ASU 2019-12— Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in ASU 2019-12 simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application and simplification of GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for the Company beginning February 1, 2021, although early adoption of the amendments is permitted. The Company is currently evaluating the impact of ASU 2019-12 on its consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Oct. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value MeasurementsThe following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of October 31, 2020 and January 31, 2020 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): Fair Value Measurement at October 31, 2020 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 286,167 $ — $ — $ 286,167 Short-term investments: U.S. government treasury securities 551,539 — — 551,539 Total financial assets $ 837,706 $ — $ — $ 837,706 Fair Value Measurement at January 31, 2020 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 623,856 $ — $ — $ 623,856 Short-term investments: U.S. government treasury securities 280,326 — — 280,326 Total financial assets $ 904,182 $ — $ — $ 904,182 The Company utilized the market approach and Level 1 valuation inputs to value its money market mutual funds and U.S. government treasury securities because published net asset values were readily available. The contractual maturity of all marketable securities was less than one year as of October 31, 2020 and January 31, 2020. As of October 31, 2020 and January 31, 2020, gross unrealized gains and losses for cash equivalents and short-term investments were not material. Accordingly, the Company concluded that an allowance for credit losses was unnecessary for short-term investments as of October 31, 2020. Gross realized gains and losses were immaterial for each of the three and nine month periods ended October 31, 2020 and 2019. Convertible Senior Notes In addition to its cash, cash equivalents and short-term investments, the Company measures the fair value of its outstanding convertible senior notes on a quarterly basis for disclosure purposes. The Company considers the fair value of its convertible senior notes at October 31, 2020 to be a Level 2 measurement due to limited trading activity of the convertible senior notes. Refer to Note 5, Convertible Senior Notes , for further details. Non-marketable Securities As of October 31, 2020, the total amount of non-marketable equity securities included in other assets on the Company’s condensed consolidated balance sheets was $0.5 million. The Company did not have any such non-marketable securities in any prior periods. Refer to Note 2, Summary of Significant Accounting Policies , for further details. The Company classifies these assets as Level 3 within the fair value hierarchy only if an impairment or observable price changes in orderly transactions are recognized on these non-marketable equity securities during the period. The estimation of fair value for these investments is inherently complex due to the lack of readily available market data and inherent lack of liquidity and requires the Company’s judgment and the use of significant unobservable inputs in an inactive market. In addition, the determination of whether an orderly transaction is for the identical or a similar investment requires significant management judgment, including understanding the differences in the rights and obligations of the investments, the extent to which those differences would affect the fair values of those investments and the stage of operational development of the entities. For the three and nine months ended October 31, 2020, there have been no adjustments to the carrying values of the Company’s non-marketable securities. |
Goodwill and Acquired Intangibl
Goodwill and Acquired Intangible Assets, Net | 9 Months Ended |
Oct. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Acquired Intangible Assets, Net | Goodwill and Acquired Intangible Assets, Net As of October 31, 2020, there have been no changes to the carrying amount of goodwill from the balance presented as of January 31, 2020. The gross carrying amount and accumulated amortization of the Company’s intangible assets are as follows (in thousands): October 31, 2020 Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 34,700 $ (15,590) $ 19,110 Domain name 155 (155) — Customer relationships 15,200 (5,910) 9,290 Total $ 50,055 $ (21,655) $ 28,400 January 31, 2020 Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 34,700 $ (11,495) $ 23,205 Domain name 155 (151) 4 Customer relationships 15,200 (3,630) 11,570 Total $ 50,055 $ (15,276) $ 34,779 Acquired intangible assets are amortized on a straight-line basis. As of October 31, 2020, the weighted-average remaining useful lives of identifiable, acquisition-related intangible assets was 3.5 years for developed technology and 3.1 years for customer relationships. Amortization expense of intangible assets was $2.1 million and $6.4 million for the three and nine months ended October 31, 2020, respectively. Amortization expense for developed technology and the domain name was included as research and development expense in the Company’s condensed consolidated statements of operations. Amortization expense for customer relationships was included as sales and marketing expense in the Company’s condensed consolidated statements of operations. As of October 31, 2020, future amortization expense related to the intangible assets is as follows (in thousands): Years Ending January 31, Remainder of 2021 $ 2,125 2022 8,500 2023 8,500 2024 7,825 2025 1,450 Total $ 28,400 |
Convertible Senior Notes
Convertible Senior Notes | 9 Months Ended |
Oct. 31, 2020 | |
Debt Disclosure [Abstract] | |
Convertible Senior Notes | Convertible Senior Notes In June 2018, the Company issued $250.0 million aggregate principal amount of 0.75% convertible senior notes due 2024 in a private placement and, in July 2018, the Company issued an additional $50.0 million aggregate principal amount of convertible senior notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible senior notes (collectively, the “2024 Notes”). The 2024 Notes are senior unsecured obligations of the Company and interest is payable semiannually in arrears on June 15 and December 15 of each year, beginning on December 15, 2018, at a rate of 0.75% per year. The 2024 Notes will mature on June 15, 2024, unless earlier converted, redeemed or repurchased. The total net proceeds from the offering, after deducting initial purchase discounts and debt issuance costs, were approximately $291.1 million. In January 2020, the Company issued $1.0 billion aggregate principal amount of 0.25% convertible senior notes due 2026 in a private placement and, also in January 2020, the Company issued an additional $150.0 million aggregate principal amount of convertible senior notes pursuant to the exercise in full of the initial purchasers’ option to purchase additional convertible senior notes (collectively, the “2026 Notes”). The 2026 Notes are senior unsecured obligations of the Company and interest is payable semiannually in arrears on July 15 and January 15 of each year, beginning on July 15, 2020, at a rate of 0.25% per year. The 2026 Notes will mature on January 15, 2026, unless earlier converted, redeemed or repurchased. The total net proceeds from the offering, after deducting initial purchase discounts and estimated debt issuance costs, were approximately $1.13 billion. On January 14, 2020, in connection with the issuance of the 2026 Notes, the Company used a portion of the net proceeds to repurchase $210.0 million aggregate principal amount of the 2024 Notes (the “2024 Notes Partial Repurchase”) leaving $90.0 million aggregate principal outstanding on the 2024 Notes immediately after the exchange. The 2024 Notes Partial Repurchase were not pursuant to a redemption notice and were individually privately negotiated transactions. The 2024 Notes Partial Repurchase and issuance of the 2026 Notes were deemed to have substantially different terms due to the significant difference between the value of the conversion option immediately prior to and after the exchange, and accordingly, the 2024 Notes Partial Repurchase was accounted for as a debt extinguishment. The Company used $479.2 million of the net proceeds from the issuance of the 2026 Notes to complete the 2024 Notes Partial Repurchase, of which $175.1 million and $303.9 million were allocated to the liability and equity components of the 2024 Notes, respectively, and $0.2 million was allocated to the proportional interest paid. Refer to Note 7, Convertible Senior Notes , in the Notes to Consolidated Financial Statements included in Part II, Item 8 of the Company’s 2020 Form 10-K for further information on the 2024 Notes, the 2026 Notes and the 2024 Notes Partial Repurchase. During the three months ended October 31, 2020, the conditional conversion feature of the 2024 Notes was triggered as the last reported sale price of the Company's Class A common stock was more than or equal to 130% of the conversion price for at least 20 trading days in the period of 30 consecutive trading days ending on October 30, 2020 (the last trading day of the fiscal quarter) and therefore the 2024 Notes are currently convertible, in whole or in part, at the option of the holders from November 1, 2020 through January 31, 2021. Whether the 2024 Notes will be convertible following such period will depend on the continued satisfaction of this condition or another conversion condition in the future. During the nine months ended October 31, 2020, the Company converted immaterial amounts of their 2024 Notes to certain holders, unrelated to the 2024 Notes Partial Repurchase. Since the Company has the election of repaying the 2024 Notes in cash, shares of the Company’s Class A common stock, or a combination of both, the Company continued to classify the liability component of the 2024 Notes as long-term debt on the Company’s consolidated balance sheet as of October 31, 2020. During the three months ended October 31, 2020, the conditions allowing holders of the 2026 Notes to convert have not been met. The 2026 Notes were therefore not convertible during the three and nine months ended October 31, 2020 and the liability component was classified as long-term debt on the Company’s condensed consolidated balance sheet as of October 31, 2020. The net carrying amounts of the liability component of the 2024 Notes and 2026 Notes were as follows (in thousands): October 31, 2020 2024 Notes 2026 Notes Principal $ 90,001 $ 1,150,000 Unamortized debt discount (16,477) (260,875) Unamortized debt issuance costs (1,338) (13,659) Net carrying amount $ 72,186 $ 875,466 As of October 31, 2020, the total estimated fair values (Level 2) of the outstanding 2024 Notes and the 2026 Notes were approximately $327.2 million and $1.51 billion, respectively. The fair values were determined based on the closing trading price per $100 of the 2024 Notes and 2026 Notes as of the last day of trading for the period. The fair values of the 2024 Notes and 2026 Notes are primarily affected by the trading price of the Company’s Class A common stock and market interest rates. The following table sets forth the interest expense related to the 2024 Notes and 2026 Notes (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 2024 Notes 2026 Notes 2024 Notes 2026 Notes 2024 Notes 2026 Notes 2024 Notes 2026 Notes Contractual interest expense $ 168 $ 718 $ 563 $ — $ 506 $ 2,156 $ 1,688 $ — Amortization of debt discount 1,002 10,826 3,132 — 2,958 32,058 9,248 — Amortization of issuance costs 70 469 202 — 203 1,366 585 — Total $ 1,240 $ 12,013 $ 3,897 $ — $ 3,667 $ 35,580 $ 11,521 $ — Capped Calls In connection with the pricing of the 2024 Notes and 2026 Notes, the Company entered into privately negotiated capped call transactions with certain counterparties (the “Capped Calls”). The Capped Calls associated with the 2024 Notes each have an initial strike price of approximately $68.15 per share, subject to certain adjustments, which corresponds to the initial conversion price of the 2024 Notes. These Capped Calls have initial cap prices of $106.90 per share, subject to certain adjustments. The Capped Calls associated with the 2026 Notes each have an initial strike price of approximately $211.20 per share, subject to certain adjustments, which corresponds to the initial conversion price of the 2026 Notes. These Capped Calls have initial cap prices of $296.42 per share, subject to certain adjustments. Refer to Note 7, Convertible Senior Notes , in the Notes to Consolidated Financial Statements included in Part II, Item 8 of the Company’s 2020 Form 10-K for further information on the Capped Calls. |
Leases
Leases | 9 Months Ended |
Oct. 31, 2020 | |
Leases [Abstract] | |
Leases | Leases Finance Lease In December 2017, the Company entered into a lease agreement for 106,230 rentable square feet of office space (the “Premises”) to accommodate its growing employee base in New York City. The Company received delivery of the Premises on January 1, 2018 to commence construction to renovate the Premises. Total estimated aggregate base rent payments over the initial 12-year term of the lease are $87.3 million and payments began in July 2019. The Company has the option to extend the term of the lease by an additional 5 years. Operating Leases The Company has entered into non-cancelable operating leases, primarily related to rental of office space expiring through 2032. The Company recognizes operating lease costs on a straight-line basis over the term of the agreement, taking into account adjustments for market provisions such as free or escalating base monthly rental payments or deferred payment terms such as rent holidays that defer the commencement date of the required payments. The Company may receive renewal or expansion options, leasehold improvement allowances or other incentives on certain lease agreements. The Company’s material operating lease agreements with recent lease commencement dates are described below. • February 1, 2020 was the lease commencement date for the Company’s agreement, signed in December 2019, to lease approximately 40,000 square feet of office space in Dublin, Ireland for a term of 12 years with two five • July 1, 2020 was the lease commencement date for the Company’s agreement, signed in October 2019, to lease an additional 21,000 square feet of office space in New York City for a term of 64 months with no renewal period. The total aggregate base rent payments for this operating lease are $8.4 million with payments beginning 4 months subsequent to the commencement date. Lease Costs The components of the Company’s lease costs included in its condensed consolidated statement of operations were as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 993 $ 994 $ 2,981 $ 2,982 Interest on lease liabilities 852 916 2,604 2,739 Operating lease cost 2,335 1,152 6,189 3,505 Short-term lease cost 435 785 1,968 1,488 Total lease cost $ 4,615 $ 3,847 $ 13,742 $ 10,714 Balance Sheet Components The balances of the Company’s finance and operating leases were recorded on the condensed consolidated balance sheet as follows (in thousands): October 31, 2020 January 31, 2020 Finance Lease: Property and equipment, net $ 36,431 $ 39,411 Other accrued liabilities 4,159 4,633 Other liabilities, non-current 55,607 59,257 Operating Leases: Operating lease right-of-use assets $ 36,909 $ 11,147 Operating lease liabilities (current) 4,314 3,750 Operating lease liabilities, non-current 36,501 8,113 Supplemental Information The following table presents supplemental information related to the Company’s finance and operating leases (in thousands, except weighted-average information): Nine Months Ended October 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance lease $ 2,604 $ 916 Operating cash flows from operating leases 4,146 3,204 Financing cash flows from finance lease 3,450 798 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 30,593 $ 3,930 Weighted-average remaining lease term (in years): Finance lease 9.2 10.2 Operating leases 7.9 4.3 Weighted-average discount rate: Finance lease 5.6 % 5.6 % Operating leases 4.6 % 6.1 % Maturities of Lease Liabilities Future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of October 31, 2020 were as follows (in thousands): Year Ending January 31, Finance Lease Operating Leases Remainder of 2021 $ 1,346 $ 1,141 2022 8,073 7,638 2023 8,073 7,682 2024 8,073 6,768 2025 8,445 5,694 Thereafter 42,829 20,033 Total minimum payments 76,839 48,956 Less imputed interest (17,073) (8,141) Present value of future minimum lease payments 59,766 40,815 Less current obligations under leases (4,159) (4,314) Non-current lease obligations $ 55,607 $ 36,501 Excluded in the lease obligation table above is a new agreement to lease approximately 16,000 square feet of office space in Palo Alto, which will be recognized as an operating lease upon the lease commencement date. The lease term is eight years with one option to extend for an additional five years. The total estimated aggregate base rent payments are $14.2 million with payments beginning four months subsequent to the commencement date. The lease commencement date is uncertain given the impacts of the ongoing COVID-19 pandemic and associated construction and occupancy restrictions. |
Leases | Leases Finance Lease In December 2017, the Company entered into a lease agreement for 106,230 rentable square feet of office space (the “Premises”) to accommodate its growing employee base in New York City. The Company received delivery of the Premises on January 1, 2018 to commence construction to renovate the Premises. Total estimated aggregate base rent payments over the initial 12-year term of the lease are $87.3 million and payments began in July 2019. The Company has the option to extend the term of the lease by an additional 5 years. Operating Leases The Company has entered into non-cancelable operating leases, primarily related to rental of office space expiring through 2032. The Company recognizes operating lease costs on a straight-line basis over the term of the agreement, taking into account adjustments for market provisions such as free or escalating base monthly rental payments or deferred payment terms such as rent holidays that defer the commencement date of the required payments. The Company may receive renewal or expansion options, leasehold improvement allowances or other incentives on certain lease agreements. The Company’s material operating lease agreements with recent lease commencement dates are described below. • February 1, 2020 was the lease commencement date for the Company’s agreement, signed in December 2019, to lease approximately 40,000 square feet of office space in Dublin, Ireland for a term of 12 years with two five • July 1, 2020 was the lease commencement date for the Company’s agreement, signed in October 2019, to lease an additional 21,000 square feet of office space in New York City for a term of 64 months with no renewal period. The total aggregate base rent payments for this operating lease are $8.4 million with payments beginning 4 months subsequent to the commencement date. Lease Costs The components of the Company’s lease costs included in its condensed consolidated statement of operations were as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 993 $ 994 $ 2,981 $ 2,982 Interest on lease liabilities 852 916 2,604 2,739 Operating lease cost 2,335 1,152 6,189 3,505 Short-term lease cost 435 785 1,968 1,488 Total lease cost $ 4,615 $ 3,847 $ 13,742 $ 10,714 Balance Sheet Components The balances of the Company’s finance and operating leases were recorded on the condensed consolidated balance sheet as follows (in thousands): October 31, 2020 January 31, 2020 Finance Lease: Property and equipment, net $ 36,431 $ 39,411 Other accrued liabilities 4,159 4,633 Other liabilities, non-current 55,607 59,257 Operating Leases: Operating lease right-of-use assets $ 36,909 $ 11,147 Operating lease liabilities (current) 4,314 3,750 Operating lease liabilities, non-current 36,501 8,113 Supplemental Information The following table presents supplemental information related to the Company’s finance and operating leases (in thousands, except weighted-average information): Nine Months Ended October 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance lease $ 2,604 $ 916 Operating cash flows from operating leases 4,146 3,204 Financing cash flows from finance lease 3,450 798 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 30,593 $ 3,930 Weighted-average remaining lease term (in years): Finance lease 9.2 10.2 Operating leases 7.9 4.3 Weighted-average discount rate: Finance lease 5.6 % 5.6 % Operating leases 4.6 % 6.1 % Maturities of Lease Liabilities Future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of October 31, 2020 were as follows (in thousands): Year Ending January 31, Finance Lease Operating Leases Remainder of 2021 $ 1,346 $ 1,141 2022 8,073 7,638 2023 8,073 7,682 2024 8,073 6,768 2025 8,445 5,694 Thereafter 42,829 20,033 Total minimum payments 76,839 48,956 Less imputed interest (17,073) (8,141) Present value of future minimum lease payments 59,766 40,815 Less current obligations under leases (4,159) (4,314) Non-current lease obligations $ 55,607 $ 36,501 Excluded in the lease obligation table above is a new agreement to lease approximately 16,000 square feet of office space in Palo Alto, which will be recognized as an operating lease upon the lease commencement date. The lease term is eight years with one option to extend for an additional five years. The total estimated aggregate base rent payments are $14.2 million with payments beginning four months subsequent to the commencement date. The lease commencement date is uncertain given the impacts of the ongoing COVID-19 pandemic and associated construction and occupancy restrictions. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 31, 2020 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies Non-cancelable Material Commitments During the nine months ended October 31, 2020, other than certain non-cancelable operating leases described in Note 6, Leases , there have been no material changes outside the ordinary course of business to the Company’s contractual obligations and commitments from those disclosed in the 2020 Form 10-K. Legal Matters From time to time, the Company has become involved in claims, litigation and other legal matters arising in the ordinary course of business, including intellectual property claims, labor and employment claims and breach of contract claims. For example, on March 12, 2019, Realtime Data (“Realtime”) filed a lawsuit against the Company in the United States District Court for the District of Delaware alleging that the Company is infringing three U.S. patents that it holds: U.S. Patent No. 9,116,908, U.S. Patent No. 9,667,751 and U.S. Patent No. 8,933,825. The patent infringement allegations in the lawsuit relate to data compression, decompression, storage and retrieval. Realtime seeks monetary damages and injunctive relief. In August 2019, the District Court approved the Company and Realtime’s stipulation to stay Realtime’s lawsuit against the Company pending the outcome of Realtime's appeal of the District Court's decision to invalidate two of the asserted patents in a separate action. On October 23, 2020, the Federal Circuit issued its opinion on the appeal and remanded that action back to the District Court for further proceedings. The stay on proceedings in Realtime’s lawsuit against the Company remains in place at this time. The Company investigates all claims, litigation and other legal matters as they arise. Although claims and litigation are inherently unpredictable, the Company is currently not aware of any matters that, if determined adversely to the Company, would individually or taken together have a material adverse effect on its business, financial position, results of operations or cash flows. The Company accrues estimates for resolution of legal and other contingencies when losses are probable and estimable. Although the results of claims and litigation are inherently unpredictable, the Company believes that there was less than a reasonable possibility that the Company had incurred a material loss with respect to such loss contingencies, as of October 31, 2020 and January 31, 2020, therefore, the Company has not recorded an accrual for such contingencies. Indemnification The Company enters into indemnification provisions under its agreements with other companies in the ordinary course of business, including business partners, landlords, contractors and parties performing its research and development. Pursuant to these arrangements, the Company agrees to indemnify, hold harmless and reimburse the indemnified party for certain losses suffered or incurred by the indemnified party as a result of the Company’s activities. The terms of these indemnification agreements are generally perpetual. The maximum potential amount of future payments the Company could be required to make under these agreements is not determinable. The Company has never incurred costs to defend lawsuits or settle claims related to these indemnification agreements. As a result, the Company believes the fair value of these agreements is not material. The Company maintains commercial general liability insurance and product liability insurance to offset certain of the Company’s potential liabilities under these indemnification provisions. The Company has entered into indemnification agreements with each of its directors and executive officers. These agreements require the Company to indemnify such individuals, to the fullest extent permitted by Delaware law, for certain liabilities to which they may become subject as a result of their affiliation with the Company. |
Revenue
Revenue | 9 Months Ended |
Oct. 31, 2020 | |
Revenues [Abstract] | |
Revenue | Revenue Recognition Disaggregation of Revenue Based on the information provided to and reviewed by the Company’s Chief Executive Officer, the Company believes that the nature, amount, timing and uncertainty of its revenue and cash flows and how they are affected by economic factors is most appropriately depicted through the Company’s primary geographical markets and subscription product categories. The Company’s primary geographical markets are North and South America (“Americas”); Europe, Middle East and Africa (“EMEA”); and Asia Pacific. The Company also disaggregates its subscription products between its MongoDB Atlas-related offerings, which includes mLab, and other subscription products, which includes MongoDB Enterprise Advanced. The following table presents the Company’s revenues disaggregated by primary geographical markets, subscription product categories and services (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Primary geographical markets: Americas $ 93,255 $ 71,332 $ 261,836 $ 194,055 EMEA 44,552 30,374 123,762 83,504 Asia Pacific 12,964 7,735 33,783 20,638 Total $ 150,771 $ 109,441 $ 419,381 $ 298,197 Subscription product categories and services: MongoDB Atlas-related $ 71,110 $ 44,133 $ 186,354 $ 111,783 Other subscription 72,959 59,694 215,049 170,194 Services 6,702 5,614 17,978 16,220 Total $ 150,771 $ 109,441 $ 419,381 $ 298,197 Customers located in the United States accounted for 57% of total revenue for both the three and nine months ended October 31, 2020, and 61% and 60% of total revenue for the three and nine months ended October 31, 2019, respectively. Customers located in the United Kingdom accounted for 10% of total revenue for both the three and nine months ended October 31, 2020, and 9% and 10% for the three and nine months ended October 31, 2019, respectively. No other country accounted for 10% or more of revenue for the periods presented. Contract Liabilities The Company’s contract liabilities are recorded as deferred revenue in the Company’s condensed consolidated balance sheet and consists of customer invoices issued or payments received in advance of revenues being recognized from the Company’s subscription and services contracts. Deferred revenue, including current and non-current balances, as of October 31, 2020 and January 31, 2020 was $195.8 million and $190.8 million, respectively. Approximately 35% and 37% of the total revenue recognized for the nine months ended October 31, 2020 and 2019, respectively, was from deferred revenue at the beginning of each respective period. Remaining Performance Obligations Remaining performance obligations represent the aggregate amount of the transaction price in contracts allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations include unearned revenue, multi-year contracts with future installment payments and certain unfulfilled orders against accepted customer contracts at the end of any given period. As of October 31, 2020, the aggregate transaction price allocated to remaining performance obligations was $217.7 million. Approximately 55% is expected to be recognized as revenue over the next 12 months and the remainder thereafter. The Company applies the practical expedient to omit disclosure with respect to the amount of the transaction price allocated to remaining performance obligations if the related contract has a total duration of 12 months or less. Unbilled Receivables Revenue recognized in excess of invoiced amounts creates an unbilled receivable, which represents the Company’s unconditional right to consideration in exchange for goods or services that the Company has transferred to the customer. Unbilled receivables were recorded as part of accounts receivable, net in the Company’s condensed consolidated balance sheets. As of October 31, 2020, unbilled receivables were $7.0 million. Allowance for Doubtful Accounts The adoption of ASU 2016-13 on February 1, 2020 required the Company to shift from an incurred loss impairment model to an expected credit loss model. Accordingly, the Company is required to consider expectations of forward-looking losses, in addition to historical loss rates, to estimate its allowance for doubtful accounts on its account receivables. The following is a summary of the changes in the Company’s allowance for doubtful accounts (in thousands): Allowance for Doubtful Accounts Balance at January 31, 2020 $ 2,515 Adoption of new accounting standard 50 Provision 3,426 Recoveries/write-offs (1,281) Balance at October 31, 2020 $ 4,710 The Company is closely monitoring the potential impact from the ongoing COVID-19 pandemic and associated global economic uncertainty on its business. A higher allowance was recorded during the nine months ended October 31, 2020 due to the potential adverse impact the ongoing COVID-19 pandemic may have on factors that affect the Company’s estimate of current expected credit losses, including possible financial difficulties faced by a portion of the Company’s customers. Costs Capitalized to Obtain Contracts with Customers Deferred commissions were $94.1 million as of October 31, 2020. Amortization expense with respect to deferred commissions was $7.2 million and $20.5 million for the three and nine months ended October 31, 2020, respectively, and $4.9 million and $13.9 million for the three and nine months ended October 31, 2019, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented. |
Equity Incentive Plans and Empl
Equity Incentive Plans and Employee Stock Purchase Plan | 9 Months Ended |
Oct. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Equity Incentive Plans and Employee Stock Purchase Plan | Equity Incentive Plans and Employee Stock Purchase Plan 2008 Stock Incentive Plan and 2016 Equity Incentive Plan The Company adopted the 2008 Stock Incentive Plan (as amended, the “2008 Plan”) in 2008 and the 2016 Equity Incentive Plan (as amended, the “2016 Plan”) in 2016, primarily for the purpose of granting stock-based awards to employees, directors and consultants, including stock options, restricted stock units (“RSUs”) and other stock-based awards. With the establishment of the 2016 Plan in December 2016, all shares available for grant under the 2008 Plan were transferred to the 2016 Plan. The Company no longer grants any stock-based awards under the 2008 Plan and any shares underlying stock options canceled under the 2008 Plan will be automatically transferred to the 2016 Plan. Stock Options The 2016 Plan provides for the issuance of incentive stock options to employees and nonstatutory stock options to employees, directors or consultants. The Company’s Board of Directors or a committee thereof determines the vesting schedule for all equity awards. Stock option awards generally vest over a period of four years with 25% vesting on the one-year anniversary of the award and the remainder vesting monthly over the next 36 months of the grantee’s service to the Company. The following table summarizes stock option activity for the nine months ended October 31, 2020 (in thousands, except share and per share data and years): Shares Weighted- Weighted- Aggregate Balance - January 31, 2020 6,178,999 $ 7.60 5.7 $ 965,860 Stock options exercised (1,832,500) 7.55 Stock options forfeited and expired (81,338) 9.14 Balance - October 31, 2020 4,265,161 $ 7.59 5.0 $ 942,099 Vested and exercisable - January 31, 2020 4,693,273 $ 7.08 5.4 $ 736,034 Vested and exercisable - October 31, 2020 3,708,457 $ 7.23 4.9 $ 820,453 Restricted Stock Units The 2016 Plan provides for the issuance of RSUs to employees, directors and consultants. RSUs granted to new employees generally vest over a period of four years with 25% vesting on the one-year anniversary of the vesting start date and the remainder vesting quarterly over the next 12 quarters, subject to the grantee’s continued service to the Company. RSUs granted to existing employees generally vest quarterly over a period of four years, subject to the grantee’s continued service to the Company. The following table summarizes RSU activity for the nine months ended October 31, 2020: Shares Weighted-Average Grant Date Fair Value per RSU Unvested - January 31, 2020 3,281,431 $ 102.30 RSUs granted 1,611,032 171.05 RSUs vested (857,570) 99.55 RSUs forfeited and canceled (364,169) 114.03 Unvested - October 31, 2020 3,670,724 $ 131.95 2017 Employee Stock Purchase Plan In October 2017, the Company’s Board of Directors adopted, and stockholders approved, the 2017 Employee Stock Purchase Plan (the “2017 ESPP”). Subject to any plan limitations, the 2017 ESPP allows eligible employees to contribute, normally through payroll deductions, up to 15% of their earnings for the purchase of the Company’s Class A common stock at a discounted price per share. During the nine months ended October 31, 2020, the Company issued 84,482 shares of Class A common stock under the 2017 ESPP. The Company’s current offering period began June 16, 2020 and is expected to end December 15, 2020. Stock-Based Compensation Expense Total stock-based compensation expense recognized in the Company’s unaudited condensed consolidated statements of operations is as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Cost of revenue—subscription $ 2,446 $ 1,274 $ 6,508 $ 3,476 Cost of revenue—services 1,513 793 4,142 2,107 Sales and marketing 14,696 6,844 38,754 17,728 Research and development 15,442 6,879 41,415 17,513 General and administrative 5,855 3,577 17,225 10,214 Total stock-based compensation expense $ 39,952 $ 19,367 $ 108,044 $ 51,038 |
Net Loss Per Share
Net Loss Per Share | 9 Months Ended |
Oct. 31, 2020 | |
Earnings Per Share [Abstract] | |
Net Loss Per Share | Net Loss Per Share On June 11, 2020, all outstanding shares of the Company’s Class B common stock, par value $0.001 per share, automatically converted into the same number of shares of Class A common stock, par value $0.001 per share, pursuant to the terms of the Company’s Amended and Restated Certificate of Incorporation. No additional shares of Class B common stock will be issued following such conversion. The conversion occurred pursuant to Article V, Section 5(a) of the Amended and Restated Certificate of Incorporation, which provided that each share of Class B common stock would convert automatically into one fully paid and nonassessable share of Class A common stock at 5:00 p.m. in New York City, New York on the first trading day falling on or after the date on which the outstanding shares of Class B common stock represented less than 10% of the aggregate number of shares of the then outstanding Class A common stock and Class B common stock. The Company filed a certificate with the Secretary of State of the State of Delaware effecting the retirement and cancellation of our Class B common stock. This certificate of retirement had the additional effect of eliminating the authorized Class B common stock, thereby reducing the total number of our authorized shares of common stock by 100,000,000. The Company calculates basic net loss per share by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period, including stock options and restricted stock units. Basic and diluted net loss per share was the same for each period presented, as the inclusion of all potential common shares outstanding would have been anti-dilutive due to the net loss reported for each period presented. For periods in which there were Class B shares outstanding, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. Each share of Class A common stock was and is entitled to one vote per share and each share of Class B common stock was entitled to ten votes per share. As the liquidation and dividend rights were identical for Class A and Class B common stock, the undistributed earnings were allocated on a proportionate basis and the resulting net loss per share would, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Numerator: Net loss $ (72,651) $ (42,383) $ (191,143) $ (112,959) Denominator: Weighted-average shares used to compute net loss per share, basic and diluted 59,368,167 56,411,779 58,476,521 55,600,484 Net loss per share, basic and diluted $ (1.22) $ (0.75) $ (3.27) $ (2.03) The shares underlying the conversion option in the 2024 Notes and 2026 Notes were not considered in the calculation of diluted net loss per share as the effect would have been anti-dilutive. Based on the initial conversion price, the entire outstanding principal amount of the 2024 Notes and 2026 Notes as of October 31, 2020 would have been convertible into approximately 6.8 million shares of the Company’s Class A common stock. However, the Company currently expects to settle the principal amount of the 2024 Notes and 2026 Notes in cash. As a result, only the amount by which the conversion value exceeds the aggregate principal amount of the 2024 Notes and 2026 Notes (the “conversion spread”) is considered in the diluted earnings per share computation under the treasury stock method. The conversion spread has a dilutive impact on diluted net income per share when the average market price of the Company’s Class A common stock for a given period exceeds the initial conversion price of $68.15 per share for the 2024 Notes and $211.20 per share for the 2026 Notes. In connection with the issuance of the 2024 Notes and 2026 Notes, the Company entered into Capped Calls, which were not included for purposes of calculating the number of diluted shares outstanding, as their effect would have been anti-dilutive. The Capped Calls are expected to partially offset the potential dilution to the Company’s Class A common stock upon any conversion of the 2024 Notes and 2026 Notes. During the three months ended October 31, 2020, the average market price of the Company’s Class A common stock was $227.97, which exceeded the initial conversion price of the 2024 Notes. As of October 31, 2020, the Company had not received any material conversion notices for the 2024 Notes. For disclosure purposes, the Company calculated the potentially dilutive effect of the conversion spread for the 2024 Notes, which is included in the table below. The Company excluded the potentially dilutive effect of the conversion spread for the 2026 Notes as the average market price of the Company’s Class A common stock during the three months ended October 31, 2020 was below the conversion price of the 2026 Notes. The following weighted-average outstanding potentially dilutive shares of common stock were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been anti-dilutive. Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Stock options pursuant to the 2016 Equity Incentive Plan 1,234,642 2,042,636 1,434,388 2,242,253 Stock options pursuant to the 2008 Stock Incentive Plan (previously options to purchase Class B common stock) 3,614,730 4,805,226 4,013,050 5,230,288 Unvested restricted stock units 3,871,174 2,876,802 3,925,426 2,790,999 Early exercised stock options 2,831 22,940 6,418 33,900 Shares underlying the conversion spread in the convertible senior notes 925,870 2,171,371 841,126 2,175,450 |
Income Taxes
Income Taxes | 9 Months Ended |
Oct. 31, 2020 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Income Taxes The Company recorded a provision for income taxes of $0.9 million and $2.1 million for the three and nine months ended October 31, 2020, respectively, and a provision for (benefit from) income taxes of $0.6 million and $(2.9) million for the three and nine months ended October 31, 2019, respectively. The provision recorded during the nine months ended October 31, 2020 was driven by an increase in foreign taxes as the Company continued its global expansion, partially offset by a tax benefit related to current period gains recorded in other comprehensive income that resulted from unrealized gains on investments and a tax benefit related to true-up adjustments from the adoption of ASC 842. The Company no longer benefits from excess tax deductions in the United Kingdom as those deferred tax assets were reduced by a valuation allowance as of October 31, 2020. The calculation of income taxes is based upon the estimated annual effective tax rates for the year applied to the current period income (loss) before tax plus the tax effect of any significant unusual items, discrete events or changes in tax law. The Company assesses uncertain tax positions in accordance with ASC 740-10, Accounting for Uncertainties in Tax . As of January 31, 2020, the Company’s net unrecognized tax benefits totaled $5.3 million, of which $0.1 million would impact the Company’s effective tax rate if recognized. The Company anticipates that the amount of reasonably possible unrecognized tax benefits that could decrease over the next twelve months due to the expiration of certain statutes of limitations and settlement of tax audits is not material to the Company’s interim unaudited condensed consolidated financial statements. On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (the “CARES Act”) was signed into law. The CARES Act includes provisions relating to refundable payroll tax credits, deferral of certain payroll taxes, technical corrections to tax depreciation methods for qualified improvement property, net operating loss carryback periods, alternative minimum tax credit refunds and modifications to the net interest deduction limitations. The CARES Act did not have a material impact on the Company’s interim unaudited condensed consolidated financial statements for the nine months ended October 31, 2020. The Company will continue to monitor any effects that may result from the CARES Act. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 9 Months Ended |
Oct. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Presentation | Basis of Presentation The accompanying interim condensed consolidated balance sheet as of October 31, 2020, the interim condensed consolidated statements of stockholders’ equity for the three and nine months ended October 31, 2020 and 2019, the interim condensed consolidated statements of operations and of comprehensive loss for the three and nine months ended October 31, 2020 and 2019 and the interim condensed consolidated statements of cash flows for the nine months ended October 31, 2020 and 2019 are unaudited. The interim unaudited condensed consolidated financial statements have been prepared on a basis consistent with the annual consolidated financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary to state fairly the Company’s financial position as of October 31, 2020, its statements of stockholders’ equity as of October 31, 2020 and 2019, its results of operations and of comprehensive loss for the three and nine months ended October 31, 2020 and 2019 and its statements of cash flows for the nine months ended October 31, 2020 and 2019. The financial data and the other financial information disclosed in the notes to these interim condensed consolidated financial statements related to the three- and nine-month periods are also unaudited. The results of operations for the three and nine months ended October 31, 2020 are not necessarily indicative of the results to be expected for the fiscal year ending January 31, 2021 or for any other future year or interim period. The interim unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the Company and its wholly owned subsidiaries. All intercompany transactions and accounts have been eliminated. Certain information and note disclosures normally included in the financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to the applicable rules and regulations of the Securities and Exchange Commission. The condensed balance sheet data as of January 31, 2020 was derived from the Company’s audited financial statements, but does not include all disclosures required by U.S. GAAP. Therefore, these interim unaudited condensed consolidated financial statements and accompanying footnotes should be read in conjunction with the Company’s annual consolidated financial statements and related footnotes included in its Annual Report on Form 10-K for the fiscal year ended January 31, 2020 (the “2020 Form 10-K”). |
Use of Estimates | The preparation of the interim unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates, assumptions and judgments that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Such estimates include, but are not limited to, revenue recognition, allowances for doubtful accounts, the incremental borrowing rate related to the Company’s lease liabilities, stock-based compensation, fair value of the liability component of the convertible debt, fair value of common stock prior to the initial public offering, legal contingencies, fair value of acquired intangible assets and goodwill, useful lives of acquired intangible assets and property and equipment, fair value of non-marketable securities and accounting for income taxes. The Company bases these estimates on historical and anticipated results, trends and various other assumptions that it believes are reasonable under the circumstances, including assumptions as to future events. The ongoing COVID-19 pandemic has resulted in a global slowdown of economic activity that is likely to continue to decrease demand for a broad variety of goods and services, including from the Company’s customers, while also disrupting sales channels and marketing activities for an unknown period of time. The Company currently expects its revenue to continue to be negatively impacted by the slowdown in activity associated with the ongoing COVID-19 pandemic in the near-term. |
Related Party Transactions | Related Party TransactionsAll contracts with related parties are executed in the ordinary course of business. There were no material related party transactions in the three and nine months ended October 31, 2020 and 2019. As of October 31, 2020 and January 31, 2020, there were no material amounts payable to or amounts receivable from related parties |
Non-marketable Securities | Non-marketable Securities Non-marketable securities consist of equity investments in privately-held companies, which are classified as other assets on the consolidated balance sheets. These non-marketable equity securities do not have readily determinable fair values. Under the measurement alternative election, the Company accounts for these non-marketable securities at cost and adjusted for observable price changes in orderly transactions for the identical or similar investments of the same issuer or upon impairment and are not eligible for the net-asset-value practical expedient from fair value measurement. The measurement alternative election is reassessed each reporting period to determine whether the non-marketable securities continue to be eligible for this election. The Company periodically evaluates its non-marketable securities for impairment when events and circumstances indicate that the carrying amount of the investment may not be recovered. Impairment indicators may include, but are not limited to, a significant deterioration in earnings performance, credit rating, asset quality or business outlook or a significant adverse change in the regulatory, economic, or technological environment. |
Recently Adopted Accounting Pronouncements and New Accounting Pronouncements Not Yet Adopted | Goodwill Impairment. In January 2017, the FASB issued ASU 2017-04— Intangibles—Goodwill and Other (Topic 350) : Simplifying the Test for Goodwill Impairment. The new standard simplifies the measurement of goodwill by eliminating step two of the two-step impairment test. Step two measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. The new guidance requires an entity to compare the fair value of a reporting unit with its carrying amount and recognize an impairment charge for the amount by which the carrying amount exceeds the reporting unit’s fair value. Additionally, an entity should consider income tax effects from any tax-deductible goodwill on the carrying amount of the reporting unit when measuring the goodwill impairment loss, if applicable. The new guidance, effective February 1, 2020, did not have an impact on the Company’s condensed consolidated financial statements. Cloud Computing . In August 2018, the FASB issued ASU 2018-15, Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which aligns the accounting for implementation costs incurred in a hosting arrangement that is a service contract with the accounting for implementation costs incurred to develop or obtain internal-use software under ASC 350-40, in order to determine which costs to capitalize and recognize as an asset and which costs to expense. The Company adopted ASU 2018-15, effective February 1, 2020, prospectively for implementation costs incurred after the date of adoption. ASU 2018-15 did not have an impact on the Company’s condensed consolidated financial statements upon adoption. Credit Losses . In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326) : Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost, which includes the Company's accounts receivable, including unbilled receivables, as well as certain financial instruments. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. ASU 2016-13 eliminates the concept of other-than-temporary impairment and requires credit losses related to available-for-sale debt securities to be recorded through an allowance for credit losses rather than as a reduction in the amortized cost basis of the securities. Effective February 1, 2020, the Company adopted ASU 2016-13 using the modified retrospective transition approach, which requires a cumulative effect adjustment to the balance sheet as of February 1, 2020. As a result of the adoption, the Company recorded a cumulative effect adjustment to increase the accumulated deficit by $0.2 million, which represented the accelerated recognition of credit losses under the expected credit loss model of calculating current expected credit losses compared to the previous incurred loss impairment model. The following two significant accounting policies have changed from the Company’s 2020 Form 10-K as a result of the adoption of ASU 2016-13. New Accounting Pronouncements Not Yet Adopted Debt. In August 2020, the FASB issued ASU 2020-06— Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The new standard simplifies the accounting for convertible instruments by eliminating two of the three models in ASC 470-20 that required separate accounting for embedded conversion features. Accordingly, under ASU 2020-06, convertible debt instruments will likely be reported as a single liability instrument with no separate accounting for embedded conversion features. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. Additionally, among other changes, the new guidance eliminates some of the conditions for equity classification in ASC 815-40-25 for contracts in an entity’s own equity, thereby permitting these equity contracts to qualify for the derivative scope exception. The new standard also requires entities to use the if-converted method for all convertible instruments in the diluted earnings per share calculation and include the effect of share settlement for instruments that may be settled in cash or shares, except for certain liability-classified share-based payment awards. ASU 2020-06 is effective for the Company beginning February 1, 2022, although early adoption is permitted for fiscal periods beginning February 1, 2021. The new standard can be adopted using either a modified or full retrospective transition method. The Company is currently evaluating the impact of ASU 2020-06 on its consolidated financial statements and intends to early adopt the new standard on February 1, 2021. Income Taxes. In December 2019, the FASB issued ASU 2019-12— Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes. The amendments in ASU 2019-12 simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application and simplification of GAAP for other areas of Topic 740 by clarifying and amending existing guidance. ASU 2019-12 is effective for the Company beginning February 1, 2021, although early adoption of the amendments is permitted. The Company is currently evaluating the impact of ASU 2019-12 on its consolidated financial statements. |
Accounts Receivable and Allowance for Doubtful Accounts | The Company records a receivable when an unconditional right to consideration exists, such that only the passage of time is required before payment of consideration is due. Timing of revenue recognition may differ from the timing of invoicing to customers. If revenue recognized on a contract exceeds the billings, then the Company records an unbilled receivable for that excess amount, which is included as part of accounts receivable, net in the Company’s condensed consolidated balance sheets. The Company is exposed to credit losses primarily through the sales of subscriptions and services, which are recorded as accounts receivable, inclusive of unbilled receivables. The Company performs initial and ongoing evaluations of its customers' financial position and generally extends credit without collateral. Accounts receivable are recorded at amortized cost, net of an allowance for doubtful accounts, and do not bear interest. The allowance for doubtful accounts represents the best estimate of lifetime expected credit losses against the existing accounts receivable, inclusive of unbilled receivables, based on certain factors including past collection experience, credit quality of the customer, current aging of the receivable balance, current economic conditions, reasonable and supportable forecasts, as well as specific circumstances arising with individual customers. Extensive judgment is required in assessing these factors. Due to the short-term nature of the Company’s accounts receivable, forecasts have limited relevance to the Company’s expected credit loss estimates. Accounts receivable are written off against the allowance when management determines a balance is uncollectible and the Company no longer actively pursues collection of the receivable. The Company’s estimates of the allowance for credit losses may not be indicative of our actual credit losses requiring additional charges to be incurred to reflect the actual amount collected. |
Marketable Securities | The Company’s short-term investments consist of U.S. government treasury securities. The Company determines the appropriate classification of its short-term investments at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified and accounted for its short-term investments as available-for-sale debt securities as the Company may sell these securities at any time for use in its current operations or for other purposes, even prior to maturity. As a result, the Company classifies its short-term investments within current assets on the condensed consolidated balance sheets. Available-for-sale debt securities are recorded at fair value each reporting period. Realized gains and losses are determined based on the individual security level and are reported in other income (expense), net in the condensed consolidated statements of operations. Unrealized gains on these short-term investments are reported as a separate component of accumulated other comprehensive income (loss) on the condensed consolidated balance sheets until realized. If the estimated fair value of an available-for-sale debt security is below its amortized cost basis, then the Company evaluates for impairment. The Company considers its intent to sell the security or whether it is more likely than not that it will be required to sell the security before recovery of its amortized basis. If either of these criteria are met, the debt security’s amortized cost basis is written down to fair value through other income (expense), net in the condensed consolidated statements of operations. If neither of these criteria are met, the Company evaluates whether unrealized losses have resulted from a credit loss or other factors. The factors considered in determining whether a credit loss exists can include the extent to which fair value is less than the amortized cost basis, changes to the rating of the security by a rating agency, any adverse conditions specifically related to the security, as well as other factors. An impairment relating to credit losses is recorded through an allowance for credit losses reported in other income (expense), net in the condensed consolidated statements of operations. The allowance is limited by the amount that the fair value of the debt security is below its amortized cost basis. When a credit loss exists, the Company compares the present value of cash flows expected to be collected from the debt security with the amortized cost basis of the security to determine what allowance amount, if any, should be recorded. Unrealized losses not resulting from credit losses are recorded through accumulated other comprehensive income (loss) on the condensed consolidated balance sheets. |
Net Loss per Share | The Company calculates basic net loss per share by dividing the net loss by the weighted-average number of shares of common stock outstanding during the period, less shares subject to repurchase. Diluted net loss per share is computed by giving effect to all potentially dilutive common stock equivalents outstanding for the period, including stock options and restricted stock units. Basic and diluted net loss per share was the same for each period presented, as the inclusion of all potential common shares outstanding would have been anti-dilutive due to the net loss reported for each period presented. For periods in which there were Class B shares outstanding, the rights, including the liquidation and dividend rights, of the holders of Class A and Class B common stock were identical, except with respect to voting. Each share of Class A common stock was and is entitled to one vote per share and each share of Class B common stock was entitled to ten votes per share. As the liquidation and dividend rights were identical for Class A and Class B common stock, the undistributed earnings were allocated on a proportionate basis and the resulting net loss per share would, therefore, be the same for both Class A and Class B common stock on an individual or combined basis. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Fair Value Disclosures [Abstract] | |
Schedule of financial assets and liabilities measured at fair value on a recurring basis | The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of October 31, 2020 and January 31, 2020 and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands): Fair Value Measurement at October 31, 2020 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 286,167 $ — $ — $ 286,167 Short-term investments: U.S. government treasury securities 551,539 — — 551,539 Total financial assets $ 837,706 $ — $ — $ 837,706 Fair Value Measurement at January 31, 2020 Level 1 Level 2 Level 3 Total Financial Assets: Cash and cash equivalents: Money market funds $ 623,856 $ — $ — $ 623,856 Short-term investments: U.S. government treasury securities 280,326 — — 280,326 Total financial assets $ 904,182 $ — $ — $ 904,182 |
Goodwill and Acquired Intangi_2
Goodwill and Acquired Intangible Assets, Net (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Gross carrying amount and accumulated amortization of intangible assets | The gross carrying amount and accumulated amortization of the Company’s intangible assets are as follows (in thousands): October 31, 2020 Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 34,700 $ (15,590) $ 19,110 Domain name 155 (155) — Customer relationships 15,200 (5,910) 9,290 Total $ 50,055 $ (21,655) $ 28,400 January 31, 2020 Gross Carrying Value Accumulated Amortization Net Book Value Developed technology $ 34,700 $ (11,495) $ 23,205 Domain name 155 (151) 4 Customer relationships 15,200 (3,630) 11,570 Total $ 50,055 $ (15,276) $ 34,779 |
Future amortization expense related to intangible assets | As of October 31, 2020, future amortization expense related to the intangible assets is as follows (in thousands): Years Ending January 31, Remainder of 2021 $ 2,125 2022 8,500 2023 8,500 2024 7,825 2025 1,450 Total $ 28,400 |
Convertible Senior Notes (Table
Convertible Senior Notes (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Debt Disclosure [Abstract] | |
Convertible debt schedules | The net carrying amounts of the liability component of the 2024 Notes and 2026 Notes were as follows (in thousands): October 31, 2020 2024 Notes 2026 Notes Principal $ 90,001 $ 1,150,000 Unamortized debt discount (16,477) (260,875) Unamortized debt issuance costs (1,338) (13,659) Net carrying amount $ 72,186 $ 875,466 |
Interest expense related to Notes | The following table sets forth the interest expense related to the 2024 Notes and 2026 Notes (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 2024 Notes 2026 Notes 2024 Notes 2026 Notes 2024 Notes 2026 Notes 2024 Notes 2026 Notes Contractual interest expense $ 168 $ 718 $ 563 $ — $ 506 $ 2,156 $ 1,688 $ — Amortization of debt discount 1,002 10,826 3,132 — 2,958 32,058 9,248 — Amortization of issuance costs 70 469 202 — 203 1,366 585 — Total $ 1,240 $ 12,013 $ 3,897 $ — $ 3,667 $ 35,580 $ 11,521 $ — |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Leases [Abstract] | |
Lease, Cost | The components of the Company’s lease costs included in its condensed consolidated statement of operations were as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Finance lease cost: Amortization of right-of-use assets $ 993 $ 994 $ 2,981 $ 2,982 Interest on lease liabilities 852 916 2,604 2,739 Operating lease cost 2,335 1,152 6,189 3,505 Short-term lease cost 435 785 1,968 1,488 Total lease cost $ 4,615 $ 3,847 $ 13,742 $ 10,714 The following table presents supplemental information related to the Company’s finance and operating leases (in thousands, except weighted-average information): Nine Months Ended October 31, 2020 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance lease $ 2,604 $ 916 Operating cash flows from operating leases 4,146 3,204 Financing cash flows from finance lease 3,450 798 Right-of-use assets obtained in exchange for lease obligations: Operating leases $ 30,593 $ 3,930 Weighted-average remaining lease term (in years): Finance lease 9.2 10.2 Operating leases 7.9 4.3 Weighted-average discount rate: Finance lease 5.6 % 5.6 % Operating leases 4.6 % 6.1 % |
Assets And Liabilities, Lessee | The balances of the Company’s finance and operating leases were recorded on the condensed consolidated balance sheet as follows (in thousands): October 31, 2020 January 31, 2020 Finance Lease: Property and equipment, net $ 36,431 $ 39,411 Other accrued liabilities 4,159 4,633 Other liabilities, non-current 55,607 59,257 Operating Leases: Operating lease right-of-use assets $ 36,909 $ 11,147 Operating lease liabilities (current) 4,314 3,750 Operating lease liabilities, non-current 36,501 8,113 |
Finance Lease, Liability, Maturity | Future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of October 31, 2020 were as follows (in thousands): Year Ending January 31, Finance Lease Operating Leases Remainder of 2021 $ 1,346 $ 1,141 2022 8,073 7,638 2023 8,073 7,682 2024 8,073 6,768 2025 8,445 5,694 Thereafter 42,829 20,033 Total minimum payments 76,839 48,956 Less imputed interest (17,073) (8,141) Present value of future minimum lease payments 59,766 40,815 Less current obligations under leases (4,159) (4,314) Non-current lease obligations $ 55,607 $ 36,501 |
Lessee, Operating Lease, Liability, Maturity | Future minimum lease payments under non-cancelable finance and operating leases on an annual undiscounted cash flow basis as of October 31, 2020 were as follows (in thousands): Year Ending January 31, Finance Lease Operating Leases Remainder of 2021 $ 1,346 $ 1,141 2022 8,073 7,638 2023 8,073 7,682 2024 8,073 6,768 2025 8,445 5,694 Thereafter 42,829 20,033 Total minimum payments 76,839 48,956 Less imputed interest (17,073) (8,141) Present value of future minimum lease payments 59,766 40,815 Less current obligations under leases (4,159) (4,314) Non-current lease obligations $ 55,607 $ 36,501 |
Revenue (Tables)
Revenue (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Revenues [Abstract] | |
Schedule of total revenue by geographical markets, subscription product categories and services | The following table presents the Company’s revenues disaggregated by primary geographical markets, subscription product categories and services (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Primary geographical markets: Americas $ 93,255 $ 71,332 $ 261,836 $ 194,055 EMEA 44,552 30,374 123,762 83,504 Asia Pacific 12,964 7,735 33,783 20,638 Total $ 150,771 $ 109,441 $ 419,381 $ 298,197 Subscription product categories and services: MongoDB Atlas-related $ 71,110 $ 44,133 $ 186,354 $ 111,783 Other subscription 72,959 59,694 215,049 170,194 Services 6,702 5,614 17,978 16,220 Total $ 150,771 $ 109,441 $ 419,381 $ 298,197 |
Accounts Receivable, Allowance for Credit Loss | The following is a summary of the changes in the Company’s allowance for doubtful accounts (in thousands): Allowance for Doubtful Accounts Balance at January 31, 2020 $ 2,515 Adoption of new accounting standard 50 Provision 3,426 Recoveries/write-offs (1,281) Balance at October 31, 2020 $ 4,710 |
Equity Incentive Plans and Em_2
Equity Incentive Plans and Employee Stock Purchase Plan (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Share-based Payment Arrangement [Abstract] | |
Schedule of stock option activity | The following table summarizes stock option activity for the nine months ended October 31, 2020 (in thousands, except share and per share data and years): Shares Weighted- Weighted- Aggregate Balance - January 31, 2020 6,178,999 $ 7.60 5.7 $ 965,860 Stock options exercised (1,832,500) 7.55 Stock options forfeited and expired (81,338) 9.14 Balance - October 31, 2020 4,265,161 $ 7.59 5.0 $ 942,099 Vested and exercisable - January 31, 2020 4,693,273 $ 7.08 5.4 $ 736,034 Vested and exercisable - October 31, 2020 3,708,457 $ 7.23 4.9 $ 820,453 |
Schedule of restricted stock unit activity | The following table summarizes RSU activity for the nine months ended October 31, 2020: Shares Weighted-Average Grant Date Fair Value per RSU Unvested - January 31, 2020 3,281,431 $ 102.30 RSUs granted 1,611,032 171.05 RSUs vested (857,570) 99.55 RSUs forfeited and canceled (364,169) 114.03 Unvested - October 31, 2020 3,670,724 $ 131.95 |
Schedule of stock-based compensation expense recognized in consolidated statements of operations | Total stock-based compensation expense recognized in the Company’s unaudited condensed consolidated statements of operations is as follows (in thousands): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Cost of revenue—subscription $ 2,446 $ 1,274 $ 6,508 $ 3,476 Cost of revenue—services 1,513 793 4,142 2,107 Sales and marketing 14,696 6,844 38,754 17,728 Research and development 15,442 6,879 41,415 17,513 General and administrative 5,855 3,577 17,225 10,214 Total stock-based compensation expense $ 39,952 $ 19,367 $ 108,044 $ 51,038 |
Net Loss Per Share (Tables)
Net Loss Per Share (Tables) | 9 Months Ended |
Oct. 31, 2020 | |
Earnings Per Share [Abstract] | |
Schedule of basic and diluted earnings (loss) per share | The following table sets forth the computation of basic and diluted net loss per share (in thousands, except share and per share data): Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Numerator: Net loss $ (72,651) $ (42,383) $ (191,143) $ (112,959) Denominator: Weighted-average shares used to compute net loss per share, basic and diluted 59,368,167 56,411,779 58,476,521 55,600,484 Net loss per share, basic and diluted $ (1.22) $ (0.75) $ (3.27) $ (2.03) |
Schedule of antidilutive securities excluded from computation of earnings per share | The following weighted-average outstanding potentially dilutive shares of common stock were excluded from the computation of diluted net loss per share for the periods presented because the impact of including them would have been anti-dilutive. Three Months Ended October 31, Nine Months Ended October 31, 2020 2019 2020 2019 Stock options pursuant to the 2016 Equity Incentive Plan 1,234,642 2,042,636 1,434,388 2,242,253 Stock options pursuant to the 2008 Stock Incentive Plan (previously options to purchase Class B common stock) 3,614,730 4,805,226 4,013,050 5,230,288 Unvested restricted stock units 3,871,174 2,876,802 3,925,426 2,790,999 Early exercised stock options 2,831 22,940 6,418 33,900 Shares underlying the conversion spread in the convertible senior notes 925,870 2,171,371 841,126 2,175,450 |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Jan. 31, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Jan. 31, 2019 |
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative effect of accounting change | $ (21,804) | $ (48,151) | $ (63,041) | $ (82,858) | $ (218,835) | $ (239,343) | $ (247,868) | $ (264,566) |
Other assets | 66,620 | 54,684 | ||||||
Non Marketable Securities | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Other assets | 500 | |||||||
Accumulated Deficit | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative effect of accounting change | $ 859,602 | $ 786,951 | $ 722,426 | 668,232 | $ 605,669 | $ 563,286 | $ 525,950 | 488,607 |
Cumulative Effect, Period of Adoption, Adjustment | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative effect of accounting change | 227 | 4,103 | ||||||
Cumulative Effect, Period of Adoption, Adjustment | Accumulated Deficit | ||||||||
New Accounting Pronouncements or Change in Accounting Principle [Line Items] | ||||||||
Cumulative effect of accounting change | $ 227 | $ 4,103 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Short-term investments: | ||
Total financial assets | $ 837,706 | $ 904,182 |
Other assets | 66,620 | 54,684 |
Variable Interest Entity, Not Primary Beneficiary | ||
Short-term investments: | ||
Other assets | 500 | |
Level 1 | ||
Short-term investments: | ||
Total financial assets | 837,706 | 904,182 |
Level 2 | ||
Short-term investments: | ||
Total financial assets | 0 | 0 |
Level 3 | ||
Short-term investments: | ||
Total financial assets | 0 | 0 |
U.S. government treasury securities | ||
Short-term investments: | ||
Short-term investments: | 551,539 | 280,326 |
U.S. government treasury securities | Level 1 | ||
Short-term investments: | ||
Short-term investments: | 551,539 | 280,326 |
U.S. government treasury securities | Level 2 | ||
Short-term investments: | ||
Short-term investments: | 0 | 0 |
U.S. government treasury securities | Level 3 | ||
Short-term investments: | ||
Short-term investments: | 0 | 0 |
Money market funds | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | 286,167 | 623,856 |
Money market funds | Level 1 | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | 286,167 | 623,856 |
Money market funds | Level 2 | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | 0 | 0 |
Money market funds | Level 3 | ||
Cash and cash equivalents: | ||
Cash and cash equivalents: | $ 0 | $ 0 |
Goodwill and Acquired Intangi_3
Goodwill and Acquired Intangible Assets, Net - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | $ 50,055 | $ 50,055 |
Accumulated Amortization | (21,655) | (15,276) |
Net Book Value | 28,400 | 34,779 |
Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 34,700 | 34,700 |
Accumulated Amortization | (15,590) | (11,495) |
Net Book Value | 19,110 | 23,205 |
Domain name | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 155 | 155 |
Accumulated Amortization | (155) | (151) |
Net Book Value | 0 | 4 |
Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Gross Carrying Value | 15,200 | 15,200 |
Accumulated Amortization | (5,910) | (3,630) |
Net Book Value | $ 9,290 | $ 11,570 |
Goodwill and Acquired Intangi_4
Goodwill and Acquired Intangible Assets, Net - Additional Information (Details) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended |
Oct. 31, 2020 | Oct. 31, 2020 | |
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Amortization of intangible assets | $ 2.1 | $ 6.4 |
Developed technology | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Weighted average useful life | 3 years 6 months | |
Customer relationships | ||
Acquired Finite-Lived Intangible Assets [Line Items] | ||
Weighted average useful life | 3 years 1 month 6 days |
Goodwill and Acquired Intangi_5
Goodwill and Acquired Intangible Assets, Net - Future Amortization Expense (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Goodwill and Intangible Assets Disclosure [Abstract] | ||
Remainder of 2021 | $ 2,125 | |
2022 | 8,500 | |
2023 | 8,500 | |
2024 | 7,825 | |
2025 | 1,450 | |
Net Book Value | $ 28,400 | $ 34,779 |
Convertible Senior Notes - Addi
Convertible Senior Notes - Additional Information (Details) | Jan. 14, 2020USD ($) | Jan. 31, 2020USD ($) | Jul. 31, 2018USD ($) | Oct. 31, 2020USD ($)day | Oct. 31, 2018USD ($) | Jun. 30, 2018USD ($) |
2026 Notes | ||||||
Debt Instrument [Line Items] | ||||||
Fair value of convertible debt | $ 1,510,000,000 | |||||
2024 Notes | ||||||
Debt Instrument [Line Items] | ||||||
Fair value of convertible debt | $ 327,200,000 | |||||
Redemption Period 1 | ||||||
Debt Instrument [Line Items] | ||||||
Threshold percentage of stock price trigger | 130.00% | |||||
Consecutive threshold trading days | day | 30 | |||||
Redemption Period 1 | Minimum | ||||||
Debt Instrument [Line Items] | ||||||
Threshold trading days | day | 20 | |||||
Convertible Debt | ||||||
Debt Instrument [Line Items] | ||||||
Face amount of debt | $ 90,000,000 | $ 50,000,000 | $ 250,000,000 | |||
Interest rate | 0.75% | 0.75% | ||||
Proceeds from borrowings on convertible senior notes, net of issuance costs | 479,200,000 | $ 291,100,000 | ||||
Convertible debt, conversion ratio denominator | $ 100 | |||||
Convertible Debt | 2026 Notes | ||||||
Debt Instrument [Line Items] | ||||||
Face amount of debt | $ 1,000,000,000 | |||||
Interest rate | 0.25% | |||||
Proceeds from borrowings on convertible senior notes, net of issuance costs | $ 1,130,000,000 | |||||
Convertible Debt | Additional Convertible Senior Notes Due 2026 | ||||||
Debt Instrument [Line Items] | ||||||
Face amount of debt | $ 150,000,000 | |||||
Convertible Debt | 2024 Notes Partial Repurchase | ||||||
Debt Instrument [Line Items] | ||||||
Face amount of debt | 210,000,000 | |||||
Convertible Debt | Convertible Senior Notes, Liability Component | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from borrowings on convertible senior notes, net of issuance costs | 175,100,000 | |||||
Convertible Debt | Convertible Senior Notes, Equity Component | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from borrowings on convertible senior notes, net of issuance costs | 303,900,000 | |||||
Convertible Debt | Convertible Senior Notes, Interest Component | ||||||
Debt Instrument [Line Items] | ||||||
Proceeds from borrowings on convertible senior notes, net of issuance costs | $ 200,000 |
Convertible Senior Notes - Sche
Convertible Senior Notes - Schedule of Net Carrying Amount of the Liability Component of the Notes (Details) $ in Thousands | Oct. 31, 2020USD ($) |
2024 Notes | |
Debt Instrument [Line Items] | |
Principal | $ 90,001 |
Unamortized debt discount | (16,477) |
Unamortized debt issuance costs | (1,338) |
Net carrying amount | 72,186 |
2026 Notes | |
Debt Instrument [Line Items] | |
Principal | 1,150,000 |
Unamortized debt discount | (260,875) |
Unamortized debt issuance costs | (13,659) |
Net carrying amount | $ 875,466 |
Convertible Senior Notes - Sc_2
Convertible Senior Notes - Schedule of Interest Expense for the Notes (Details) - Convertible Debt - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
2024 Notes | ||||
Debt Instrument [Line Items] | ||||
Contractual interest expense | $ 168 | $ 563 | $ 506 | $ 1,688 |
Amortization of debt discount | 1,002 | 3,132 | 2,958 | 9,248 |
Amortization of issuance costs | 70 | 202 | 203 | 585 |
Total | 1,240 | 3,897 | 3,667 | 11,521 |
2026 Notes | ||||
Debt Instrument [Line Items] | ||||
Contractual interest expense | 718 | 0 | 2,156 | 0 |
Amortization of debt discount | 10,826 | 0 | 32,058 | 0 |
Amortization of issuance costs | 469 | 0 | 1,366 | 0 |
Total | $ 12,013 | $ 0 | $ 35,580 | $ 0 |
Convertible Senior Notes - Capp
Convertible Senior Notes - Capped Calls (Details) | 9 Months Ended |
Oct. 31, 2020$ / shares | |
Capped Calls | |
Option Indexed to Issuer's Equity [Line Items] | |
Strike price (in dollars per share) | $ 68.15 |
Cap price (in dollars per share) | 106.90 |
Convertible Debt | 2026 Notes | |
Option Indexed to Issuer's Equity [Line Items] | |
Strike price (in dollars per share) | 211.20 |
Cap price (in dollars per share) | $ 296.42 |
Leases - Narrative (Details)
Leases - Narrative (Details) $ in Thousands | Jul. 01, 2020USD ($)ft² | Oct. 31, 2020USD ($)ft² | Dec. 31, 2019ft² |
Lessee, Lease, Description [Line Items] | |||
Total minimum payments | $ 76,839 | ||
NY Office Lease | |||
Lessee, Lease, Description [Line Items] | |||
Rentable office space (in sqft) | ft² | 106,230 | ||
Term of contract | 12 years | ||
Total minimum payments | $ 87,300 | ||
Financing lease renewal term | 5 years | ||
Area of leased space (in sq ft) | ft² | 21,000 | ||
Operating lease, term of contract | 64 months | ||
estimated aggregate base rent payments, excluding the renewal options | $ 8,400 | ||
Initial lease payment due date | 4 months | ||
Dublin Lease | |||
Lessee, Lease, Description [Line Items] | |||
Area of leased space (in sq ft) | ft² | 40,000 | ||
Operating lease, term of contract | 12 years | ||
Operating lease renewal term | 5 years | ||
estimated aggregate base rent payments, excluding the renewal options | $ 27,000 | ||
Palo Alto | |||
Lessee, Lease, Description [Line Items] | |||
Area of leased space (in sq ft) | ft² | 16,000 | ||
Operating lease, term of contract | 8 years | ||
Operating lease renewal term | 5 years | ||
Lease not yet commenced, estimated base rent payments | $ 14,200 |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Finance lease cost: | ||||
Amortization of right-of-use assets | $ 993 | $ 994 | $ 2,981 | $ 2,982 |
Interest on lease liabilities | 852 | 916 | 2,604 | 2,739 |
Operating lease cost | 2,335 | 1,152 | 6,189 | 3,505 |
Short-term lease cost | 435 | 785 | 1,968 | 1,488 |
Total lease cost | $ 4,615 | $ 3,847 | $ 13,742 | $ 10,714 |
Leases - Balance Sheet Componen
Leases - Balance Sheet Components (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Finance Lease: | ||
Property and equipment, net | $ 36,431 | $ 39,411 |
Other accrued liabilities | 4,159 | 4,633 |
Other liabilities, non-current | 55,607 | 59,257 |
Operating Leases: | ||
Operating lease right-of-use assets | 36,909 | 11,147 |
Operating lease liabilities (current) | 4,314 | 3,750 |
Operating lease liabilities, non-current | $ 36,501 | $ 8,113 |
Leases - Supplemental Informati
Leases - Supplemental Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Cash paid for amounts included in the measurement of lease liabilities: | ||||
Operating cash flows from finance lease | $ 2,604 | $ 916 | ||
Operating cash flows from operating leases | 4,146 | 3,204 | ||
Financing cash flows from finance lease | 3,450 | 798 | $ 3,450 | $ 798 |
Right-of-use assets obtained in exchange for lease obligations: | ||||
Operating leases | $ 30,593 | $ 3,930 | ||
Weighted-average remaining lease term (in years): | ||||
Finance lease | 9 years 2 months 12 days | 10 years 2 months 12 days | 9 years 2 months 12 days | 10 years 2 months 12 days |
Operating leases | 7 years 10 months 24 days | 4 years 3 months 18 days | 7 years 10 months 24 days | 4 years 3 months 18 days |
Weighted-average discount rate: | ||||
Finance lease | 5.60% | 5.60% | 5.60% | 5.60% |
Operating leases | 4.60% | 6.10% | 4.60% | 6.10% |
Leases - Lease Maturities (Deta
Leases - Lease Maturities (Details) - USD ($) $ in Thousands | Oct. 31, 2020 | Jan. 31, 2020 |
Finance Lease, Liability, Payment, Due [Abstract] | ||
Remainder of 2021 | $ 1,346 | |
2022 | 8,073 | |
2023 | 8,073 | |
2024 | 8,073 | |
2025 | 8,445 | |
Thereafter | 42,829 | |
Total minimum payments | 76,839 | |
Less imputed interest | (17,073) | |
Present value of future minimum lease payments | 59,766 | |
Less current obligations under leases | (4,159) | $ (4,633) |
Non-current lease obligations | 55,607 | 59,257 |
Lessee, Operating Lease, Liability, Payment, Due [Abstract] | ||
Remainder of 2021 | 1,141 | |
2022 | 7,638 | |
2023 | 7,682 | |
2024 | 6,768 | |
2025 | 5,694 | |
Thereafter | 20,033 | |
Total minimum payments | 48,956 | |
Less imputed interest | (8,141) | |
Present value of future minimum lease payments | 40,815 | |
Less current obligations under leases | (4,314) | (3,750) |
Non-current lease obligations | $ 36,501 | $ 8,113 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) | Oct. 31, 2020 | Jan. 31, 2020 |
Commitments and Contingencies Disclosure [Abstract] | ||
Accrual for contingencies | $ 0 | $ 0 |
Revenue - Schedule of total rev
Revenue - Schedule of total revenue by geographic areas (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | $ 150,771 | $ 109,441 | $ 419,381 | $ 298,197 |
MongoDB Atlas-related | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | 71,110 | 44,133 | 186,354 | 111,783 |
Other subscription | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | 72,959 | 59,694 | 215,049 | 170,194 |
Services | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | 6,702 | 5,614 | 17,978 | 16,220 |
Americas | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | 93,255 | 71,332 | 261,836 | 194,055 |
Europe, Middle East and Africa | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | 44,552 | 30,374 | 123,762 | 83,504 |
Asia Pacific | ||||
Revenues from External Customers and Long-Lived Assets [Line Items] | ||||
Total revenue | $ 12,964 | $ 7,735 | $ 33,783 | $ 20,638 |
Revenue - Concentration Risk (D
Revenue - Concentration Risk (Details) - Geographic Concentration Risk - Revenue, Net | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
United States | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 57.00% | 61.00% | 57.00% | 60.00% |
United Kingdom | ||||
Concentration Risk [Line Items] | ||||
Concentration risk, percentage | 10.00% | 9.00% | 10.00% |
Revenue - Additional Informatio
Revenue - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Jan. 31, 2020 | |
Revenues [Abstract] | |||||
Deferred revenue | $ 195,800,000 | $ 195,800,000 | $ 190,800,000 | ||
Percent of revenue recognized from deferred revenue | 35.00% | 37.00% | |||
Remaining performance obligation | 217,700,000 | $ 217,700,000 | |||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
Unbilled receivables | 7,000,000 | 7,000,000 | |||
Deferred commissions | 94,100,000 | 94,100,000 | |||
Amortization of deferred commissions | 7,200,000 | $ 4,900,000 | 20,500,000 | $ 13,900,000 | |
Impairment loss | $ 0 | $ 0 | $ 0 | $ 0 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-11-01 | |||||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items] | |||||
Remaining performance obligation, percentage | 55.00% | 55.00% | |||
Expected timing of satisfaction of remaining performance obligation | 12 months | 12 months |
Revenue - Schedule of Allowance
Revenue - Schedule of Allowance for Doubtful Accounts (Details) $ in Thousands | 9 Months Ended |
Oct. 31, 2020USD ($) | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Beginning balance | $ 2,515 |
Provision | 3,426 |
Recoveries/write-offs | (1,281) |
Ending balance | 4,710 |
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2016-13 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Ending balance | $ 50 |
Equity Incentive Plans and Em_3
Equity Incentive Plans and Employee Stock Purchase Plan - Stock Options (Details) - Employee Stock Option | 9 Months Ended |
Oct. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting period | 4 years |
One Year Anniversary | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting rights percentage | 25.00% |
13 to 36 Months | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting rights percentage | 75.00% |
Equity Incentive Plans and Em_4
Equity Incentive Plans and Employee Stock Purchase Plan - Schedule of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | |
Apr. 30, 2019 | Oct. 31, 2020 | Jan. 31, 2020 | |
Shares | |||
Balance - beginning of period (in shares) | 6,178,999 | ||
Stock options exercised (in shares) | (1,832,500) | ||
Stock options forfeited and expired (in shares) | (81,338) | ||
Balance - end of period (in shares) | 4,265,161 | ||
Vested and exercisable (in shares) | 3,708,457 | 4,693,273 | |
Weighted- Average Exercise Price Per Share | |||
Balance - beginning of period (in dollars per share) | $ 7.60 | ||
Stock options exercised (in dollars per share) | 7.55 | ||
Stock options forfeited and expired (in dollars per share) | 9.14 | ||
Balance - end of period (in dollars per share) | 7.59 | ||
Vested and exercisable (in dollars per share) | $ 7.23 | $ 7.08 | |
Weighted- Average Remaining Contractual Term (In Years) | |||
Balance | 5 years 8 months 12 days | 5 years | |
Vested and exercisable | 5 years 4 months 24 days | 4 years 10 months 24 days | |
Aggregate Intrinsic Value | |||
Balance | $ 942,099 | $ 965,860 | |
Vested and exercisable | $ 820,453 | $ 736,034 |
Equity Incentive Plans and Em_5
Equity Incentive Plans and Employee Stock Purchase Plan - Restricted Stock Units, Additional Information (Details) - Restricted Stock Units (RSUs) | 9 Months Ended |
Oct. 31, 2020 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting period | 4 years |
One Year Anniversary | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Award vesting period | 4 years |
Vesting rights percentage | 25.00% |
13 to 36 Months | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Vesting rights percentage | 75.00% |
Equity Incentive Plans and Em_6
Equity Incentive Plans and Employee Stock Purchase Plan - Schedule of Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) | 9 Months Ended |
Oct. 31, 2020$ / sharesshares | |
Shares | |
Unvested - beginning of period (in shares) | shares | 3,281,431 |
RSUs granted (in shares) | shares | 1,611,032 |
RSUs vested (in shares) | shares | (857,570) |
RSUs forfeited and canceled (in shares) | shares | (364,169) |
Unvested - end of period (in shares) | shares | 3,670,724 |
Weighted-Average Grant Date Fair Value per RSU | |
Unvested - beginning of period (in dollars per share) | $ / shares | $ 102.30 |
RSUs granted (in dollars per share) | $ / shares | 171.05 |
RSUs vested (in dollars per share) | $ / shares | 99.55 |
RSUs forfeited and canceled (in dollars per share) | $ / shares | 114.03 |
Unvested - end of period (in dollars per share) | $ / shares | $ 131.95 |
Equity Incentive Plans and Em_7
Equity Incentive Plans and Employee Stock Purchase Plan - Employee Stock Purchase Plan, Additional Information (Details) - shares | 3 Months Ended | ||
Oct. 31, 2020 | Jul. 31, 2020 | Jul. 31, 2019 | |
Employee Stock Purchase Plan | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Maximum employee contribution rate | 15.00% | ||
Class A and Class B Common Stock | |||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||
Issuance of common stock under the Employee Stock Purchase Plan (in shares) | 84,482 | 84,482 | 90,619 |
Equity Incentive Plans and Em_8
Equity Incentive Plans and Employee Stock Purchase Plan - Stock-based Compensation Expense Recognized in Statement of Operations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | $ 39,952 | $ 19,367 | $ 108,044 | $ 51,038 |
Cost of revenue—subscription | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 2,446 | 1,274 | 6,508 | 3,476 |
Cost of revenue—services | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 1,513 | 793 | 4,142 | 2,107 |
Sales and marketing | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 14,696 | 6,844 | 38,754 | 17,728 |
Research and development | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | 15,442 | 6,879 | 41,415 | 17,513 |
General and administrative | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Total stock-based compensation expense | $ 5,855 | $ 3,577 | $ 17,225 | $ 10,214 |
Net Loss Per Share - Additional
Net Loss Per Share - Additional Information (Details) | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2020$ / sharesshares | Oct. 31, 2020shares$ / shares | Jun. 11, 2020$ / sharesshares | Jun. 10, 2020 | Jan. 31, 2020$ / shares | |
Class of Stock [Line Items] | |||||
Decrease in number of shares authorized (in shares) | shares | 100,000,000 | ||||
Shares issuable upon conversion (in shares) | shares | 6,800,000 | 6,800,000 | |||
Average market price (in dollars per share) | $ 227.97 | ||||
Class B Common Stock | |||||
Class of Stock [Line Items] | |||||
Common stock, par value (in dollars per share) | 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |
Percent of the aggregate number of shares outstanding pre conversion (less than) | 10.00% | ||||
Number of votes per share | shares | 10 | ||||
Class A Common Stock | |||||
Class of Stock [Line Items] | |||||
Common stock, par value (in dollars per share) | 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |
Number of votes per share | shares | 1 | ||||
Convertible Debt | 2024 Notes | |||||
Class of Stock [Line Items] | |||||
Initial conversion price (in dollars per share) | 68.15 | $ 68.15 | |||
Convertible Debt | 2026 Notes | |||||
Class of Stock [Line Items] | |||||
Initial conversion price (in dollars per share) | $ 211.20 | $ 211.20 |
Net Loss Per Share - Schedule o
Net Loss Per Share - Schedule of Basic and Diluted Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Oct. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | Oct. 31, 2019 | Jul. 31, 2019 | Apr. 30, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Numerator: | ||||||||
Net loss | $ (72,651) | $ (64,525) | $ (53,967) | $ (42,383) | $ (37,336) | $ (33,240) | $ (191,143) | $ (112,959) |
Denominator: | ||||||||
Weighted-average shares used to compute net loss per share, basic and diluted (in shares) | 59,368,167 | 56,411,779 | 58,476,521 | 55,600,484 | ||||
Net loss per share, basic and diluted (in dollars per share) | $ (1.22) | $ (0.75) | $ (3.27) | $ (2.03) |
Net Loss Per Share - Schedule_2
Net Loss Per Share - Schedule of Antidilutive Securities Excluded from the Computation of Diluted Net Loss per Share (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | |
Stock options to purchase common stock | Class A Common Stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 1,234,642 | 2,042,636 | 1,434,388 | 2,242,253 |
Stock options to purchase common stock | Class B Common Stock | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 3,614,730 | 4,805,226 | 4,013,050 | 5,230,288 |
Unvested restricted stock units | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 3,871,174 | 2,876,802 | 3,925,426 | 2,790,999 |
Early exercised stock options | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 2,831 | 22,940 | 6,418 | 33,900 |
Shares underlying the conversion spread in the convertible senior notes | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Antidilutive securities excluded from computation of earnings per share (in shares) | 925,870 | 2,171,371 | 841,126 | 2,175,450 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Oct. 31, 2020 | Oct. 31, 2019 | Oct. 31, 2020 | Oct. 31, 2019 | Jan. 31, 2020 | |
Income Tax Disclosure [Abstract] | |||||
Provision for (benefit from) income taxes | $ 926,000 | $ 559,000 | $ 2,142,000 | $ (2,920,000) | |
Unrecognized tax benefits | $ 5,300,000 | ||||
Unrecognized tax benefits that would impact effective tax rate | $ 100,000 | ||||
Decrease in unrecognized tax benefits is reasonably possible | $ 0 | $ 0 |
Uncategorized Items - mdb-20201
Label | Element | Value |
Restricted Cash and Cash Equivalents, Noncurrent | us-gaap_RestrictedCashAndCashEquivalentsNoncurrent | $ 515,000 |
Restricted Cash and Cash Equivalents, Noncurrent | us-gaap_RestrictedCashAndCashEquivalentsNoncurrent | $ 520,000 |