MongoDB, Inc.

Database-platform SaaS with strong growth and free cash flow; GAAP losses on stock comp.

Strengths

• Strong growth and FCF — revenue +22.8% (74th), FCF $500.2M (75th), FCF margin 20.3%
• Cash-rich — current ratio 4.65 (90th)
• Healthy gross margin — 71.7%

Risks

• GAAP losses — operating margin -5.6%, net income -44.9% (32nd) on stock comp
• Negative interest coverage (-43.8) — per 10-K
• Premium valuation; consumption-revenue variability — per 10-K

Notable findings

• No interest coverageInterest coverage -43.79 (cannot cover interest)
• Net lossNet loss (net margin -2.9%)
• Exec changeRecent 8-K item 5.02 8-K ↗
• Customer concentration~46% of revenue from one customer/distributor — During the fiscal years ended January 31, 2026, 2025, and 2024, revenue generated outside of the United States was 46%, 46%, and 46% of our total revenue
• Fund exitedNotable fund(s) exited this quarter: VANGUARD GROUP INC
• Strong balance sheetStrong balance sheet — $2.4B cash & investments
• Notable holderHeld by 7 notable fund(s): CITADEL ADVISORS LLC, FMR LLC, STATE STREET CORP +4 more (as of 2026-03-31)
• New fund positionNotable fund(s) opened this quarter: RENAISSANCE TECHNOLOGIES LLC
• Insider sellingInsider selling — 102 open-market sale(s) by 5 insider(s) (cluster of 5 insiders, ~$69M, last 6mo) Form 4 ↗