Free cash flow generation has improved significantly to a 29.0% margin in 2027Q1, supported by an asset-light model with a capital expenditure to revenue ratio of only 0.3%.
| Cash from Operations | 605.17M | 505.15M | 150.19M | 121.48M | -12.97M | 6.98M | -42.67M | -29.54M | -41.99M | -44.88M | -38.08M | -46.96M |
| Operating CF Margin % | - | 20.5% | 7.49% | 7.22% | -1.01% | 0.8% | -7.23% | -7% | -15.73% | -29.05% | -37.57% | -71.95% |
| Operating CF Growth % | 5902.08% | 236.34% | 23.64% | 1036.6% | -285.82% | 116.36% | -44.46% | 29.65% | 6.44% | -17.87% | 18.92% | - |
| Net Income | -29.09M | -71.15M | -129.07M | -176.6M | -345.4M | -306.87M | -266.94M | -175.52M | -99.01M | -83.97M | -70.06M | -73.49M |
| Depreciation & Amortization | 32.35M | 26.37M | 26.97M | 32.13M | 29.18M | 24.45M | 24.53M | 19.77M | 5.79M | 3.7M | 3.75M | 4.06M |
| Stock-Based Compensation | 555.85M | 550.45M | 493.94M | 456.91M | 381.45M | 251.07M | 149.31M | 75.78M | 37.4M | 21.23M | 21M | 12.79M |
| Deferred Taxes | -3.16M | -3.16M | -16.79M | -1.57M | -562K | -2.58M | -364K | -3.29M | -4.96M | -302K | -4K | -2K |
| Other Non-Cash Items | -20.81M | 3.38M | -24.54M | -40.41M | -3.18M | 13.06M | 49.25M | 27.13M | 5.09M | -253K | -38K | -52K |
| Working Capital Changes | 70.03M | -747K | -200.31M | -148.98M | -74.47M | 27.84M | 1.54M | 26.59M | 13.69M | 14.71M | 7.27M | 9.73M |
| Change in Receivables | -73.35M | -106.41M | -69.24M | -41.64M | -91.45M | -62.28M | -47.63M | -12.69M | -19.45M | -16.09M | -11.8M | -10.12M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 31.89M | 8.92M | 541K | 1.68M | 3.16M | 1.15M | 1.22M | 513K | -913K | -371K | 1.3M | 371K |
| Cash from Investing | 400.32M | 538.82M | -657.44M | 188.02M | -33.31M | -852.14M | -262.66M | -1.65M | -160.28M | -172.29M | 31.06M | -80.42M |
| Capital Expenditures | -5.67M | -4.96M | -29.55M | -6.07M | -7.24M | -8.07M | -11.77M | -3.56M | -6.85M | -2.13M | -1.68M | -468K |
| CapEx % of Revenue | 0.22% | 0.2% | 1.47% | 0.36% | 0.56% | 0.92% | 1.99% | 0.85% | 2.56% | 1.38% | 1.66% | 0.72% |
| Acquisitions | 0 | -2.03M | 0 | -15M | 0 | -4.47M | 0 | -38.63M | -55.52M | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 10.72M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Financing | -628.82M | -462.44M | 202.06M | 38.24M | 30.2M | 890.89M | 27.58M | 589.24M | 288.24M | 209.89M | 43.11M | 3.09M |
| Debt Issued (Net) | -17.71M | -7.54M | -6.18M | -5.48M | -4.51M | -33.17M | -3.78M | 652.01M | 291.14M | 0 | 0 | 0 |
| Equity Issued (Net) | -456.7M | -356.33M | 38.02M | 43.72M | 34.71M | 924.06M | 35.51M | 30.15M | 32.45M | 209.89M | 43.11M | 3.09M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -500.59M | -400.33M | 0 | 0 | 0 | 0 | -11K | -43K | -327K | -242K | -48K | -17K |
| Other Financing | -154.41M | -98.57M | 170.22M | 0 | 0 | 0 | -4.15M | -92.92M | -35.36M | 0 | 0 | 0 |
| Net Change in Cash | 379.31M | 593.87M | -310.89M | 347.3M | -18.08M | 44.2M | -276.48M | 558.36M | 85.92M | -6.99M | 36.1M | -124.39M |
| Free Cash Flow | 599.5M | 500.19M | 120.64M | 115.4M | -20.21M | -1.09M | -54.45M | -33.1M | -48.84M | -47.02M | -39.76M | -47.43M |
| FCF Margin % | 23.04% | 20.3% | 6.01% | 6.86% | -1.57% | -0.13% | -9.22% | -7.85% | -18.29% | -30.43% | -39.23% | -72.66% |
| FCF Growth % | 261.4% | 314.61% | 4.54% | 670.91% | -1751.1% | 97.99% | -64.47% | 32.22% | -3.87% | -18.25% | 16.17% | - |
| FCF per Share | 7.35 | 6.16 | 1.62 | 1.62 | -0.29 | -0.02 | -0.92 | -0.59 | -0.94 | -0.95 | -0.99 | -4.09 |
| FCF Conversion (FCF/Net Income) | -20.61x | -7.10x | -1.16x | -0.69x | 0.04x | -0.02x | 0.16x | 0.17x | 0.42x | 0.47x | 0.44x | 0.64x |
| Interest Paid | 972K | 0 | 3.71M | 5.47M | 5.84M | 6.27M | 7M | 2.38M | 1.04M | 8K | 16K | 14K |
| Taxes Paid | 13.12M | 0 | 14.98M | 11.99M | 11.16M | 5.67M | 2.31M | 2.7M | 984K | 1M | 411K | 522K |
Stock-based compensation dilution
According to recent financial disclosures, MongoDB's operating cash flow reached $201.6M in 2027Q1, significantly outpacing the reported $4.4M net income, a trend that highlights the heavy reliance on non-cash adjustments to reconcile the company's underlying cash generation capability with its GAAP-reported bottom line results.
The substantial gap between net income and operating cash flow suggests that GAAP profitability remains a secondary metric compared to the company's ability to generate cash from operations. Investors should monitor this divergence, as it indicates that the business's true economic health is heavily influenced by non-cash items rather than pure operational efficiency.
As reported in quarterly filings, MongoDB achieved a 29.0% free cash flow margin in 2027Q1, marking a notable improvement from the negative 0.5% margin observed in 2025Q2, which suggests that the company is successfully scaling its consumption-based revenue model while maintaining disciplined capital expenditure requirements.
The trajectory of free cash flow indicates that the business is moving toward a more self-sustaining model as the Atlas platform matures. This trend warrants further investigation into whether this margin expansion is sustainable or if it remains sensitive to future shifts in enterprise cloud consumption patterns.
Based on reported figures, MongoDB maintained a capital expenditure to revenue ratio of just 0.3% in 2027Q1, underscoring the asset-light nature of its software-as-a-service model where the bulk of infrastructure costs are effectively offloaded to third-party hyperscalers rather than requiring direct investment in physical data centers.
The consistently low capital intensity allows the company to direct its financial resources toward sales and marketing rather than hardware maintenance. This operational structure appears to provide significant flexibility, though it reinforces the company's structural dependency on the pricing and availability of external cloud infrastructure providers.
Data from recent statements reveals that MongoDB utilized $100.3M for share repurchases in 2027Q1, a move that appears intended to offset the persistent impact of stock-based compensation, which totaled $137.8M during the same period, highlighting a complex capital allocation strategy focused on managing shareholder dilution.
The decision to initiate buybacks while simultaneously issuing significant equity suggests management is attempting to balance growth-oriented compensation with shareholder value preservation. Investors should monitor whether this capital deployment strategy remains viable if free cash flow growth were to decelerate in future periods.
Quick answers to the most common questions about buying MDB stock.
MongoDB, Inc. (MDB) generated $505.1M in net cash from operating activities in 2026. This reflects the cash generated directly from core business operations.
MongoDB, Inc. (MDB) generated $500.2M in free cash flow in 2026. Free cash flow is the cash left over after capital expenditures, which can be used to pay dividends, repurchase shares, or pay down debt.
MongoDB, Inc. (MDB) spent $5.0M on capital expenditures in 2026. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.
In 2026, MongoDB, Inc. (MDB) spent $400.3M on share repurchases. This shows the company's commitment to returning capital to its equity investors.