Software Stack Investing

After fairly positive earnings in Q1, MongoDB's Q2 report reflected increased pressure from the macro environment. Product-market fit, competitive position and GTM motion with large customers all remain consistent. What appears to have changed is a marked slowdown of utilization expansion for specific customer segments, compressing revenue growth as a consequence of MongoDB's consumption model.
This is the audio summary, for more detail, visit SoftwareStackInvesting.com.

MongoDB leadership used the conference to introduce a number of new product offerings and enhancements. They also hosted an Investor Session to tie the product announcements to MongoDB’s broader expansion strategy. The overall theme was to enable customers to address more application workloads with the MongoDB platform. Given the breadth and depth of the product improvements announced during MongoDB World, I think they easily achieved this goal.
This is the audio summary of a larger post on MongoDB World, which can be found on SoftwareStackInvesting.com

One of Snowflake’s newer growth strategies, beyond their core data platform, is to enable other companies to build their businesses on top of Snowflake. The value proposition is that new companies with a heavy data processing function in their product can bootstrap their launch by leveraging Snowflake’s platform. There are multiple benefits in taking this approach, including reducing time to market, eliminating infrastructure overhead and avoiding hiring dedicated technical staff.

As we kick off Q3 earnings season for software infrastructure companies, the hyperscalers set the tone with mixed results. AWS and Azure experienced further deceleration in revenue growth, while Google Cloud surprised with a slight acceleration.

Snowflake held a Snowday event on November 7th in San Francisco, as part of its Data Cloud World Tour. Similar to prior Snowdays, the Snowflake team used the occasion to showcase new product innovations and to interact with customers. During the event, they made a number of product announcements and program updates. The product team emphasized that these were not just a rehash of announcements made during the Summit conference in June, reinforcing the fact that Snowflake has been continuing to innovate on its platform.