🆁🅶🅱
wordlessly watching, he waits by the window and wonders…
Oops…
Revenue up by 78%
Adjusted Gross Profit up by 70%
Adjusted Gross Margin 70% (down from 73% a year ago)
Customers (>100k) up by 52%
Total Customers up by 115%
Revenue, ASC 606 (millions USD)
Q1 Q2 Q3 Q4 Year YOY
2018 50,051 166,028
2019 50,139 59,611 71,782 85,484 267,016 60.83%
2020 89,388 89,388 -66.52%
YOY 78.28%
Adj Gross Profit. non-GAAP.ASC 606 (millions USD)
Q1 Q2 Q3 Q4 Year YOY
2018 38,047 124,361
2019 36,933 61,000 196,734 58.20%
2020 62,797 62,797 -68.08%
YOY 70.03%
Gross margin percent, ASC 606 (Non-GAAP)
Q1 Q2 Q3 Q4 Year
2018 76.02% 74.90%
2019 73.66% 71.36% 73.68%
2020 70.25%
Adj Operating Profit, ASC 606 (millions USD)
Q1 Q2 Q3 Q4 Year YOY
2018 -14,524 -62,762
2019 -18,881 -9,691 -54,922 -12.49%
2020 -12,642 -12,642 -76.98%
Operating Profit % of Revenue (Non-GAAP)
Q1 Q2 Q3 Q4 Year
2018 -29.02% -37.80%
2019 -37.66% 0.00% 0.00% -11.34% -20.57%
2020 -14.14%
Adj Net Profit, ASC 606 (millions USD)
Q1 Q2 Q3 Q4 Year YOY
2018 -13,645 -61,955
2019 -18,757 -9,070 -52,188 -15.76%
2020 -12,084 -12,084 -76.85%
Net Profit % of Revenue (Non-GAAP)
Q1 Q2 Q3 Q4 Year
2018 -27.26% -37.32%
2019 -37.41% 0.00% 0.00% -10.61% -19.54%
2020 -13.52%
Adj EPS. ASC 606 (USD)
Q1 Q2 Q3 Q4
2018 -0.27
2019 -0.37 -0.17
2020 -0.22
Opr Cash Flow (millions USD)
Q1 Q2 Q3 Q4
2019 -8,049
2020 3,214
Free Cash Flow (millions USD)
Q1 Q2 Q3 Q4 Year YOY
2017 -10,347 -39,761
2018 -8,133 -47,016 18.25%
2019 -8,416 -12,630 -48,837 3.87%
2020 2,825
Total customers
Q1 Q2 Q3 Q4 YOY
2018 3,700 4,300 4,900 5,700
2019 6,600 7,400 8,300 13,400 135.09%
2020 14,200
YOY 115.15%
Customers (ACV > $100k)
Q1 Q2 Q3 Q4 YOY
2018 268 296 320 354
2019 394 438 490 557 57.34%
2020 598
YOY 51.78%
🆁🅶🅱
wordlessly watching, he waits by the window and wonders…
so far a well executed conference call. MDB selling off after hours probably traders taking quick profits from the past 2 days run up. Growth remains very strong.
Could also be the usual worries about guidance, etc.
Definitely looks very strong - Atlas 340% growth, crazy, from ~10% to 35%
Outsiders question, how much of - Atlas 340% growth, crazy, from ~10% to 35% is revenue addition and how much is revenue shifting?
Given that overall growth is 70% plus, one would have to say that Atlas is not cannibalizing revenue, and if it is more power to Atlas.
Tinker
Guidance for 2nd half of FY 2020 seems weak.
Assume
Q2 - they hit $97M (a beat of $6M at the mid point)
FY 2020 - $400M (current guidance is $378M at the mid point)
FY 2020 rev growth rates comes down to:
Q1 - 78%
Q2 - 63%
Q3+Q4 - 36%
Note the sharp slow down in the 2nd half…
Guidance for 2nd half of FY 2020 seems weak.
they did specify on the conference call that comps in the second half of the year would get much tougher. I didn’t listen to the entire call but that was one of the lines that jumped out at me
-mekong
From CC:
"As a reminder, year-over-year growth comparisons and quarter-to-quarter results will likely be more variable under 606 due in part – due to the timing of multi-year contract signings.
As an example, and as we have described before, we are facing noticeably larger comparison in the second half of fiscal 2020, particularly in the third quarter.
In addition, the fourth quarter will be the first quarter where we will have mLab in the base period. And as we have described before, we have expected some deterioration in the revenue from former mLab customers."
Guidance for 2nd half of FY 2020 seems weak.
Am I a victim of selective memory, or is this a trend we’re seeing of lowered guidance across the board?
Am I a victim of selective memory, or is this a trend we’re seeing of lowered guidance across the board?
Both Elastic and SMAR had some of the higher forecast growth %'s I have seen…so I think it depends on each company. AYX had pretty good guidance too, I believe. And some sandbag a lot harder than others, and I believe MDB (and ZS comes to mind) are both pretty big sandbaggers.
The other thought is that as these companies get larger, there will likely be a natural decrease in % growth.
Dreamer
From CC:
"As a reminder, year-over-year growth comparisons and quarter-to-quarter results will likely be more variable under 606 due in part – due to the timing of multi-year contract signings.
Can someone explain what this really means?
Thank you
Guidance for 2nd half of FY 2020 seems weak.
Assume in Q2 they hit $97M (a beat of $6M at the mid point)
FY 2020 - $400M (current guidance is $378M at the mid point)
FY 2020 rev growth rates comes down to:
Q1 - 78%
Q2 - 63%
Q3+Q4 - 36%
Note the sharp slow down in the 2nd half…
It is beyond me that anyone still pays attention to these ridiculous guidances. Time-after-time they prove totally meaningless, yet people continue to choose to worry about them.
I mean listen to this: Note the sharp slow down in the 2nd half… Does he really think Mongo’s revenue growth will slow from 78% in the first quarter to 36% in the third and fourth quarter??? If not, why waste our time with it.
Best,
Saul