MongoDB Hits $1 Billion Run Rate. What's Next?

Hint: AWS, Google, Microsoft, Oracle, and Snowflake are moving in the same direction

MongoDB reported revenue of $266.5 million for Q4 FY22, putting it for the first time on a $1 billion annual run rate. Now that MongoDB has crossed that key financial threshold, how does it get to $2 billion?

That’s not a rhetorical question. It’s exactly what Morgan Stanley analyst Sanjit Singh wanted to know during Q&A with MongoDB CEO Dev Ittycheria and COO/CFO Mike Gordon on the March 8 earnings call.

“As this business crosses $1 billion,” asked Singh, “how do you feel about your ability to scale to $2 billion and beyond over time?”

Ittycheria’s response boiled down to two things. One, that MongoDB has “the best sales organization in enterprise software.” He talked about the company’s transition from direct sales to inside sales to self-serve to large-account sales.

Then Ittycheria pointed to MongoDB’s next big thing—a focus on vertical industries.

“We're going to be focused increasing on verticalization,” Ittycheria said. “As I mentioned in the prepared remarks, we are seeing a l…