Assertion Partly supported AI assessment confidence: 90% certainty 4/5 debate potential 1/5

Lemkin: MongoDB delivered its best quarter in six years

Jason Lemkin · 2024 SaaS Landscape: Why 2024 Could be Pretty Darn Good for SaaS IPOs with SaaStr CEO Jason Lemkin · Oct 3, 2023 · at 10:39

Jason Lemkin discusses public database vendor MongoDB's performance during his presentation on SaaS market recovery.

0:00 / 0:08exact quote · 8.9s

▶ Watch the full episode on YouTube → 720p mp4 · rendered on demand · StarZero watermark

“MongoDB, which is another one, you know, they just had their best quarter in six years. They're just rocking it. Right? They're rocking it. Some of their strongest revenue growth they've seen since IPO.”

quote is from the automated transcript, cleaned for reading: filler sounds and stutters are removed, nothing is rephrased. names can be misheard (the analysis reads context, assessments check outside sources). how →

The claim, plainly

MongoDB just had its best quarter in six years, delivering some of its strongest revenue growth since its IPO.

a quote alone can be ambiguous, so this restates it with the references and context of the conversation around it resolved. AI-written; the tape below the player is the source.

Assessment

In MongoDB's Q2 FY2024 results (for the quarter ended July 31, 2023, reported August 31, 2023), the company achieved all-time record quarterly revenue of $423.8 million and a company-record non-GAAP operating margin of 19%. However, Jason Lemkin's assertion that it delivered 'some of its strongest revenue growth they've seen since IPO' is factually incorrect. MongoDB's year-over-year revenue growth in Q2 FY2024 was 40%, which was substantially lower than numerous quarters post-IPO (October 2017), including Q1 FY2020 (78% YoY), Q4 FY2019 (71% YoY), Q1 FY2023 (57% YoY), Q4 FY2022 (56% YoY), and Q2 FY2023 (53% YoY).

MongoDB reported Q2 FY2024 total revenue of $423.8M (+40% YoY) on August 31, 2023, reaching record quarterly dollar revenue and a record 19% non-GAAP operating margin.
MongoDB's YoY revenue growth rate of 40% in Q2 FY2024 was well below previous post-IPO growth rates, which reached as high as 78% (Q1 FY2020) and 57% (Q1 FY2023).

Checked against

[1] prnewswire.com [2] mongodb.com [3] futurumgroup.com [4] seekingalpha.com [5] perplexity.ai [6] fool.com [7] mongodb.com [8] fool.com

"MongoDB" "revenue was" "year-over-year" "Q1" "Q2" "Q3" "Q4" "fiscal 2019" OR "fiscal 2020" OR "fiscal 2021" OR "fiscal 2022" OR "fiscal 2023" "MongoDB" "Total revenue was" "for the second quarter of fiscal" "2019" OR "2020" OR "2021" OR "2022" OR "2023" "MongoDB" "August 31, 2023" "second quarter" "revenue" "40%" OR "423.6" OR "10-Q" "MongoDB" "Second Quarter Fiscal 2024" "Total revenue was" OR "year-over-year" "MongoDB" "Third Quarter Fiscal 2023 Financial Results" revenue "year-over-year" "MongoDB" "First Quarter Fiscal 2023 Financial Results" revenue "year-over-year" MongoDB Q2 2024 revenue growth "40%" OR "30%" OR "27%" OR "highest" "IPO" "MongoDB" "Q2 FY24" OR "Q2 FY2024" revenue growth percentage SEC 10-Q press release MongoDB quarterly revenue YoY growth table "FY19" OR "FY20" OR "FY21" OR "FY22" OR "FY23" OR "FY24" "MongoDB" quarterly revenue growth "FY 2019" "FY 2020" "FY 2021" "FY 2022" "FY 2023" "FY 2024" "MongoDB, Inc. Announces" "Financial Results" "fiscal 2018" OR "fiscal 2019" OR "fiscal 2020" OR "fiscal 2021" OR "fiscal 2022" OR "fiscal 2023" "MongoDB" "Third Quarter Fiscal 2022 Financial Results" revenue "year-over-year"

assessed as of 2026-09-03

This assessment is an AI reading of a public statement, made against the cited references with the confidence shown. It can be wrong. The quote, the tape and the references are all on this page; if something is off, use report an error below. full disclaimer →

Mentioned

MongoDB

⚑ Spot an error? Report it

More from Jason Lemkin

Opinion

Lemkin: Do not hire people who complain about burnout

“Lazy people always say they're burnt out... But the people that complain about burnout, I think deserve a scarlet L burned into their forehead and don't hire them.”

Jason Lemkin Jul 17, 2026 ▶ 1:03:11 How Agents Will Steal Your Customers. Plus: The $10K App Our Agent Replaced and the $14 Migration

Prediction Open · timeframe Jul 2027

SpaceX, Anthropic, and OpenAI IPOs will exceed all past tech IPOs combined

“We're going to see three trillion dollar plus IPOs over the coming months. It's never happened before. The value of SpaceX plus Anthropic plus OpenAI will be more than all the other tech IPOs combined ever.”

Jason Lemkin Jul 8, 2026 ▶ 45:45 Agents Didn't Kill Sales. They Just Exposed It with SaaStrAI CEO and Founder Jason Lemkin

Prediction Not checkable as stated

Lemkin: Four Upcoming Tech Mega-IPOs Will Eclipse All IPOs Since 2000

“SpaceX, Anthropic, OpenAI, we'll add in Databricks, we'll have Arsan, one of the co-founders here in about half an hour after this. That's going to create more market value, more value, and more wealth than every other IPO since 2000.”

Jason Lemkin Jun 11, 2026 ▶ 13:41 $4 Trillion in IPOs, $100B in M&A, and Why B2B Spend is Booming

Prediction Open · timeframe Jun 2027

Lemkin: A $100B Startup Acquisition Will Occur in the Next 12 Months

“I bet there'll be a hundred billion dollar startup acquired in the next 12 months.”

Jason Lemkin Jun 11, 2026 ▶ 14:26 $4 Trillion in IPOs, $100B in M&A, and Why B2B Spend is Booming

Prediction Held up

Lemkin: Anthropic Will Reach $50B in Revenue in Four Years

“Anthropics revenue is like nothing we've ever seen. Okay. It'll be at fifty billion in less than four years or four years plus or minus.”

Jason Lemkin Jun 11, 2026 ▶ 27:35 $4 Trillion in IPOs, $100B in M&A, and Why B2B Spend is Booming

Assertion Supported

Lemkin: ServiceTitan terminated Podium integration impacting 1,000 shared customers

“That worked great for years until Service Titan shut them off the other day, shut them off after all these years with a thousand joint customers.”

Jason Lemkin Aug 28, 2026 ▶ 2:59 Who Owns Your Data Now? Agents vs. Systems of Record on The Agents #013

Lemkin: MongoDB delivered its best quarter in six years

More from Jason Lemkin

Turn any episode into a week of clips.