The contrast between these two earnings reports was so astounding that I felt that I HAD to say something! I just felt compelled.
They are about the same size. CRWD had revenue of $125 million, and MDB had $109 million.
CRWD had revenue growth of 88%. — MDB had revenue growth of 52%.
CRWD’s revenue rate fell by 6% sequentially. — Mongo’s fell by 22% sequentially (52 is 78% of 67… a fall of 22%).
CRWD had subscription revenue growth of 98%, — Mongo had subscription revenue growth of 56%.
CRWD’s subscription revenue rate was flat sequentially (It stayed at 98%). — Mongo’s fell by 21% sequentially (56 is 79% of 71… a fall of 21%).
CRWD’s Adj operating loss was $16.5 million, improved from $29 million a year ago. — Mongo’s was $14 million, worsening from $8 million a year ago.
Crowd’s Adj net loss was $13 million, less than half its loss from $29 million. — Mongo’s was $15 million, more than double its loss $7 million a year ago.
Crowd’s Operating Cash Flow was positive $39 million, improved from a loss of $3.6 million a year ago. — Mongo’s was a loss of $11.5 million.
Crowd’s Free cash flow was positive $7 million, improved from a loss of $13 million a year ago. — Mongo’s was minus $13 million, worsening from minus $11 million.
Saul:
I reread this post from a few days ago and must admit, you made some valid comparisons…though in unlike industries…but I get your point.
But I also noticed you own a large portion of another “security type” stock in OKTA…16% of your portfolio as I recall from your last portfolio update.
That would seem to be a rather interesting compare and contrast with CRWD as you did against MDB (unlike industry though it may be):
CRWD had revenue growth of 88%. — OKTA had revenue growth of 45% and rapidly falling from quarters past.
CRWD’s revenue rate fell by 6% sequentially. — OKTA fell by 10% sequentially.
CRWD had subscription revenue growth of 98%, — OKTA had subscription revenue growth of 46%.
CRWD’s subscription revenue rate was flat sequentially (It stayed at 98%). — OKTA’s fell by 10% sequentially.
Etc Etc.
Whether one looks at customer growth rates, Net retention rates, forward P/S, etc…CRWD seems to blow away OKTA…margins are very similar between the two companies.
Which of course leads me to ponder…with the comparison you made with MDB…why do you have 16% of your portfolios tied up in OKTA??
This seems rather inconsistent thought process so maybe you could explain?