MDB 2Q25: Mixed Feedback but Early Signs of AI Contribution

We spoke with three MongoDB (MDB) channel partners and former salesperson, as well as one technology partner. The feedback pointed to softer-than-expected business performance in the quarter. However, we are seeing emerging signals of AI contributions following integrating Voyage AI.

2Q Sales Performance and H2 Outlook

The experts we spoke with all indicated that Q2 sales performance was below expectations.

North American Large Channel Partner (~$70M ARR in MDB business)

• The partner's business grew 12.7% YoY in CY2Q25, slightly missing the high end of their 12-13.5% target range. Atlas growth remains healthy, exceeding 25% for the past two quarters.

  • Growth was 8% YoY in Q1 and 9% in April.

• July-August growth is tracking flat with Q2 at approximately 12.5% YoY, which is below the expectations from three months ago for an acceleration in H2.

• Macro headwinds have caused some large deals slippage, previously expected to close in Q3, to October-November. The partner believes there is a high probability these deals will close then.

• Over the last one to two months, the partner has observed a stall in organic consumption growth from existing applications for some large customers, including those in the retail, financial services, and healthcare sectors.

• However, the FY25 target has not been revised down. This is based on the expectation that the delayed large deals will close in Q4 and that AI will begin to contribute incremental growth in Q4 (discussed further below).

European Small Channel Partner (<$3M ARR in MDB business)