Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>The MongoDB Q1 2025 earnings focused on slowing growth rates attributed to a difficult macroeconomic environment and execution issues, while confidently outlining opportunities for improvement and growth.</li><li>The company reported revenues of $451 million, representing a 22% YoY increase, with Atlas revenue accounting for 70% of the total at a growth rate of 32% YoY.</li><li>MongoDB cited less seasonal improvement than expected, leading to slower Atlas consumption growth, and disappointing new business performance.</li></ul>

The MongoDB Q1 2025 earnings focused on slowing growth rates attributed to a difficult macroeconomic environment and execution issues, while confidently outlining opportunities for improvement and growth.The company reported revenues of $451 million, representing a 22% YoY increase, with Atlas revenue accounting for 70% of the total at a growth rate of 32% YoY.MongoDB cited less seasonal improvement than expected, leading to slower Atlas consumption growth, and disappointing new business performance.

MongoDB Inc.: A Focus On Enterprise Growth & New AI Programs Are Critical Growth Catalysts!  - Major Drivers

<ul><li>MongoDB reported robust Q4 results, with revenues reaching $458 million, marking a 27% YoY increase and exceeding the high end of the company's guidance.</li><li>MongoDB's Atlas product line grew by 34% YoY, accounting for 68% of the company's total revenue.</li><li>The company also reported a healthy business quarter, owing much of this success to acquiring new workloads from existing Atlas customers.</li></ul>

MongoDB reported robust Q4 results, with revenues reaching $458 million, marking a 27% YoY increase and exceeding the high end of the company's guidance.MongoDB's Atlas product line grew by 34% YoY, accounting for 68% of the company's total revenue.The company also reported a healthy business quarter, owing much of this success to acquiring new workloads from existing Atlas customers.

MongoDB Inc.: Growing Interest and Demand for AI Applications Can Revolutionize Growth? - Key Drivers

<ul><li>MongoDB, Inc. delivered a solid result and managed an all-around beat in the last quarter, showcasing a remarkable $433 million in revenue, a notable 30% YoY surge, and surpassing the upper limits of projected guidance.</li><li>The company achieved an 18% non-GAAP operating margin, generating $79 million in non-GAAP operating income.</li><li>In this report, we have carried out a fundamental analysis of the historical financial statements of the company.</li></ul>

MongoDB, Inc. delivered a solid result and managed an all-around beat in the last quarter, showcasing a remarkable $433 million in revenue, a notable 30% YoY surge, and surpassing the upper limits of projected guidance.The company achieved an 18% non-GAAP operating margin, generating $79 million in non-GAAP operating income.In this report, we have carried out a fundamental analysis of the historical financial statements of the company.

MongoDB Inc.: Unleashing Potential in Healthcare and Insurance with Atlas Innovation! - Major Drivers

<ul><li>MongoDB managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.</li><li>The company exceeded the high end of its projection and achieved revenue of $424 million, a 40% year-over-year increase.</li><li>Atlas sales increased 38% year over year, accounting for 63% of revenue, and is now a product with a run rate of more than $1 billion.</li></ul>

MongoDB managed to surpass the revenue expectations as well as the earnings expectations of Wall Street.The company exceeded the high end of its projection and achieved revenue of $424 million, a 40% year-over-year increase.Atlas sales increased 38% year over year, accounting for 63% of revenue, and is now a product with a run rate of more than $1 billion.

MongoDB Inc.: Targeting The Public Sector With MongoDB Atlas! - Major Drivers

Pan-Asia Index Rebalances/ Events/ Delta One, Periscope Analytics

Brian Freitas

Pan-Asia Index Rebalances/ Events/ Delta One

Periscope Analytics

Periscope Analytics focuses on event-driven trades across Asia Pacific and provides comprehensive, timely and systematic coverage of index changes to major Asia Pacific indices in a structured manner.

The analysis includes forecasted inclusions and exclusions to all major Asian indices that have significant amount of tracking assets, including estimates of passive buy/sell flow on the stocks. The service also provides commentary and impact of market consultations, ground rule changes, and other events (IPOs, spin-offs, M&A) that could lead to index changes and passive flow.

Periscope Analytics works with multi-strategy hedge funds, proprietary trading firms, stat arb trading groups and long-only investors that invest and trade in the Asia Pacific region with the data being used to trade index rebalances, avoid pre-positioning and passive flow, and to time entry into and exit from stocks.

Event-Driven Trades Across Asia Pacific

Event-Driven

<ul>
<li>There were 6 inclusions and 6 exclusions for the <a href="https://www.smartkarma.com/entities/nasdaq-100-stock-index" target="_blank" data-smartkarma-citation="entities:26197:1" rel="noopener">Nasdaq-100 Stock Index (NDX INDEX)</a> at the annual December reconstitution. Then another ad hoc change was added on top of that.</li>
<li>Impact on the inclusions ranges from 1-8 days of ADV to buy, while the impact on the deletions varies from 0.7-2.6 days of ADV to sell.</li>
<li>Apart from the constituent changes, there are expected to be inflows in <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla Motors</a> and <a href="https://www.smartkarma.com/entities/broadcom-inc" target="_blank" data-smartkarma-citation="entities:998:1" rel="noopener">Broadcom</a> and outflows from <a href="https://www.smartkarma.com/entities/apple-inc" target="_blank" data-smartkarma-citation="entities:666:1" rel="noopener">Apple</a>, <a href="https://www.smartkarma.com/entities/microsoft-corp" target="_blank" data-smartkarma-citation="entities:15273:1" rel="noopener">Microsoft</a>, <a href="https://www.smartkarma.com/entities/amazon-com-inc" target="_blank" data-smartkarma-citation="entities:409:1" rel="noopener">Amazon.com</a> and <a href="https://www.smartkarma.com/entities/nvidia-corp" target="_blank" data-smartkarma-citation="entities:5891:1" rel="noopener">NVIDIA</a>.</li>
</ul>


There were 6 inclusions and 6 exclusions for the Nasdaq-100 Stock Index (NDX INDEX) at the annual December reconstitution. Then another ad hoc change was added on top of that.
Impact on the inclusions ranges from 1-8 days of ADV to buy, while the impact on the deletions varies from 0.7-2.6 days of ADV to sell.
Apart from the constituent changes, there are expected to be inflows in Tesla Motors and Broadcom and outflows from Apple, Microsoft, Amazon.com and NVIDIA.


NASDAQ 100 Index Rebalance: 6 Regular Changes + 1 Adhoc Change; US$37bn to Trade

United States

MongoDB, Inc. develops database software. The Company provides an open-source database platform for automating, monitoring, and deployment backups. MongoDB renders enterprise software integration, platform certification, and commercial licensing services. MongoDB serves clients worldwide.

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MongoDB (MDB US)

MongoDB Inc.: A Focus On Enterprise Growth & New AI Programs Are Critical Growth Catalysts! - Major Drivers

The MongoDB Q1 2025 earnings focused on slowing growth rates attributed to a difficult macroeconomic environment and execution issues, while...

Baptista Research

MongoDB Inc.: Growing Interest and Demand for AI Applications Can Revolutionize Growth? - Key Drivers

MongoDB reported robust Q4 results, with revenues reaching $458 million, marking a 27% YoY increase and exceeding the high end of the company's...

Baptista Research

MongoDB Inc.: Unleashing Potential in Healthcare and Insurance with Atlas Innovation! - Major Drivers

MongoDB, Inc. delivered a solid result and managed an all-around beat in the last quarter, showcasing a remarkable $433 million in revenue, a...

Baptista Research

MongoDB Inc.: Targeting The Public Sector With MongoDB Atlas! - Major Drivers

MongoDB managed to surpass the revenue expectations as well as the earnings expectations of Wall Street. The company exceeded the high end of its...

Baptista Research

NASDAQ 100 Index Rebalance: 6 Regular Changes + 1 Adhoc Change; US$37bn to Trade

There are 7 changes at the close on 15 December with an estimated one-way trade of US$18.7bn. Impact on the constituent changes varies from 1-8...

Brian Freitas

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