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MDB 1Q25:Partner Check Negative, Voyage AI Not Yet Contributing
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Macro, tariffs slow MDB: Atlas 19-20% vs 25%, EA drags; AI budgets absent, Voyage lift 2H at best.
We will publish our MongoDB preview along with our in-depth research reports tracking quarterly progress in large language models and autonomous driving this week.
In our previous quarter's MongoDB preview, we were quite surprised to discover DOGE's negative impact on MongoDB during our research, which was later confirmed in MongoDB's earnings report showing effects on full-year revenue guidance.
This quarter, we haven't observed any incremental impact from DOGE; in fact, with Elon Musk's departure from DOGE, it might actually become a tailwind for MongoDB.
However, after speaking with three Partner Agencies, we've begun to see macroeconomic headwinds affecting MongoDB in Q1, and unlike Snowflake, MongoDB still hasn't been included in AI budgets.
In this report, we'll analyze interview details from Partner Agencies, MongoDB's sales performance, recent competitive landscape changes, AI product feedback and set up.
We spoke with 3 channel partners and former sales of MDB with key takeaways as follows:
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