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Revenue
9 Months Ended
Oct. 31, 2023
Revenues [Abstract]  
Revenue Revenue
Disaggregation of Revenue
Based on the information provided to and reviewed by the Company’s Chief Executive Officer, its Chief Operating Decision Maker, the Company believes that the nature, amount, timing and uncertainty of its revenue and cash flows and how they are affected by economic factors is most appropriately depicted through the Company’s primary geographical markets and subscription product categories. The Company’s primary geographical markets are North and South America (“Americas”); Europe, Middle East and Africa (“EMEA”); and Asia Pacific. The Company also disaggregates its subscription products between its MongoDB Atlas-related offerings and other subscription products, which include MongoDB Enterprise Advanced.
The following table presents the Company’s revenues disaggregated by primary geographical markets, subscription product categories and services (in thousands):
Three Months Ended October 31,Nine Months Ended October 31,
2023202220232022
Primary geographical markets:
Americas
$265,698 $205,887 $741,529 $565,739 
EMEA
119,355 91,023 337,924 257,619 
Asia Pacific
47,885 36,711 145,556 99,370 
Total
$432,938 $333,621 $1,225,009 $922,728 
Subscription product categories and services:
MongoDB Atlas-related
$286,856 $211,378 $791,870 $574,727 
Other subscription
131,483 109,378 390,517 312,217 
Services
14,599 12,865 42,622 35,784 
Total
$432,938 $333,621 $1,225,009 $922,728 
Customers located in the United States accounted for 55% and 54% of total revenue for the three and nine months ended October 31, 2023, respectively, and 56% and 55% of total revenue for the three and nine months ended October 31, 2022, respectively. No other country accounted for 10% or more of revenue for the periods presented.
Contract Liabilities
The Company’s contract liabilities are recorded as deferred revenue in the Company’s condensed consolidated balance sheet and consist of customer invoices issued or payments received in advance of revenues being recognized from the Company’s subscription and services contracts. Deferred revenue, including current and non-current balances, as of October 31, 2023 and January 31, 2023 was $320.8 million and $460.3 million, respectively. Approximately 31% and 30% of the total revenue recognized for the nine months ended October 31, 2023 and 2022, respectively, was from deferred revenue at the beginning of each respective period.
Remaining Performance Obligations
Remaining performance obligations represent the aggregate amount of the transaction price in contracts allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations include unearned revenue, multi-year contracts with future installment payments and certain unfulfilled orders against accepted customer contracts at the end of any given period. As of October 31, 2023, the aggregate transaction price allocated to remaining performance obligations was $514.1 million. Approximately 53% is expected to be recognized as revenue over the next 12 months and the remainder thereafter. The Company applies the practical expedient to omit disclosure with respect to the amount of the transaction price allocated to remaining performance obligations if the related contract has a total duration of 12 months or less.
Unbilled Receivables
Revenue recognized in excess of invoiced amounts creates an unbilled receivable, which represents the Company’s unconditional right to consideration in exchange for goods or services that the Company has transferred to the customer. Unbilled receivables are recorded as part of accounts receivable, net in the Company’s condensed consolidated balance sheets. As of October 31, 2023 and January 31, 2023, unbilled receivables were $21.7 million and $9.7 million, respectively.
Allowance for Doubtful Accounts
The Company considers expectations of forward-looking losses, in addition to historical loss rates, to estimate its allowance for doubtful accounts on its accounts receivable. The following is a summary of the changes in the Company’s allowance for doubtful accounts (in thousands):
Allowance for Doubtful Accounts
Balance at January 31, 2023
$6,362 
Provision8,799 
Recoveries/write-offs(6,998)
Balance as of October 31, 2023
$8,163 
Costs Capitalized to Obtain Contracts with Customers
Deferred commissions were $269.6 million and $252.4 million as of October 31, 2023 and January 31, 2023, respectively. Amortization expense with respect to deferred commissions, which is included in sales and marketing expense in the Company’s interim unaudited condensed consolidated statements of operations, was $25.3 million and $72.8 million for the three and nine months ended October 31, 2023, respectively, and $20.7 million and $57.3 million for the three and nine months ended October 31, 2022, respectively. There was no impairment loss in relation to the costs capitalized for the periods presented.