MongoDB (MDB) Expands Multi-Year Partnership With AWS

MongoDB MDB recently announced the expansion of a multi-year strategic collaboration agreement with Amazon’s AMZN cloud division Amazon Web Services (AWS).

As part of this six-year agreement, MongoDB and Amazon Web Services have committed to a broad range of initiatives to make it easier for joint customers to advance their cloud adoption journey. This includes integrated go-to-market activities across sales and marketing, developer enablement and training through shared developer relations activities.

The collaboration will also enable both technology integrations and commercial incentives to streamline the migration of on-premises workloads to MongoDB Atlas on AWS.

MongoDB, Inc. Price and Consensus

MongoDB, Inc. price-consensus-chart | MongoDB, Inc. Quote

Partnerships With Hyperscale Cloud Vendors Aids The Top Line

MongoDB is focused on its partnerships with hyperscale vendors such as Amazon AWS, Alphabet’s GOOGL Google Cloud Platform and Microsoft’s MSFT Azure. The hyperscale providers not only help in the scalability and interoperability of the platforms but also provide enormous investment into tools and intellectual property, making it cheaper to access and use the cloud, to extend and build out the customer’s capabilities.

MongoDB’s initiatives to expand hyperscale partner base has resulted in more than 80% growth in deals sourced by the cloud vendors in the last fiscal.

In the fourth quarter fiscal 2022, MongoDB’s Atlas revenues soared 85% year over year, contributing 58% to total revenues, driven by the exceptionally high in-quarter expansion of existing customers. Atlas had more than 31,500 customers at the end of the last reported quarter, adding 2,000 customers sequentially.

In November, 2021, MongoDB announced the launch of a pay-as-you-go MongoDB Atlas with Free Trial in AWS Marketplace. With the service launch, developers will have a simplified subscription experience and enterprises will have another way to procure MongoDB in addition to privately-negotiated offers already supported on AWS Marketplace.

Earlier in 2021, MongoDB and Alphabet-owned Google Cloud announced an expanded five-year partnership that extended their existing go-to-market relationship, thus providing a deeper integration of Google Cloud products with MongoDB Atlas, MongoDB’s global cloud database.

The direct integration of MongoDB Atlas with Google Cloud Console and Marketplace, provides joint customers integrated billing and support.

Google Cloud is now featuring MongoDB Atlas in the database portion of their console, further increasing visibility and velocity with developers.

MongoDB also expanded its relationship with Microsoft, as part of which, MongoDB Atlas is available on Microsoft Azure Marketplace.

Per the agreement, MongoDB is part of Microsoft’s strategic Partner Reported ACR co-sell program.

This Zacks Rank #3 (Hold) company also entered into a global partnership with Tencent Cloud, which would enable customers to adopt and use MongoDB-as-a-Service across Tencent’s global cloud infrastructure.

MongoDB shares are down 5.7% in the past year, against the Zacks Internet – Software industry’s decline of 55.1% and the Computer and Technology sector’s decline of 4.5%.

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