On January 14, MongoDB (MDB) presented at the Needham Growth Conference. Michael Gordon, the CFO and COO, represented MongoDB. I always enjoy listening to Michael’s perspective because of his dual role – he can speak to both the financial position, as well as the business operations and long term strategy of the company. He has a strong grasp of the database landscape and how MongoDB offerings are positioned within it.

Listening to the presentation, I had a couple of take-aways. As readers know, I am long-term bullish on MongoDB. My optimism is driven by a few factors – 1) the overall size/growth of the data storage market, 2) the current “database refresh” occurring as a result of new app development and re-architecture of legacy systems, and 3) MongoDB’s popularity with developers and leading position in coding bootcamp curriculums.

As readers know, I am long on MongoDB, making a purchase recommendation in Nov 2019 for a 5 year holding period. Growth will be driven by their rapidly expanding product offering in an enormous addressable market. The database product is developer-friendly and represents a popular choice for start-ups and new software projects. The pace of enterprise migrations is increasing as companies revisit their legacy database infrastructure and MongoDB expands into adjacent use cases, like search and data warehousing.

I recently came across an article and a podcast that further reinforced the growth of opportunities for “NoSQL” solutions relative to relational databases going into the future. I will share the salient points and provide some analysis of what these trends mean for MongoDB’s growth trajectory.