MongoDB, Inc. (MDB) Earnings Call Transcript & Summary

Good morning, and welcome to MongoDB's Annual Meeting of Stockholders. Thank you for joining us today. I am David Ittycheria, President and Chief Executive Officer of MongoDB, and a member of the Board of Directors. Before I call the meeting to order, I'd like to introduce to you the members of the Board and the executive team who are with us today. The other members of the Board in attendance today are Tom Killalea, Archana Agrawal, Chip Hazard, Frank D'Souza, Hope Cochran, John McMahon and Mark Porter. Dwight Merriman, Board Nominee, is also in attendance. We also have members of MongoDB's executive team here today. We have Michael Gordon, Chief Operating Officer and Chief Financial Officer; Andrew Stephens, General Counsel and Secretary; and Serge Tanjga, Vice President of Finance and Business Operations. I would also like to introduce Dirk Tissera of PricewaterhouseCoopers LLP, MongoDB's independent registered public accounting firm; and Alison Haggerty of Cooley LLP, MongoDB's outside counsel, who will be -- both be available to respond to appropriate questions during the Q&A session. At this time, I would also like to introduce Peter Descovich of Broadridge, whom I am appointing to act as inspector of election at this meeting. Mr. Descovich has taken and subscribed to the customary oath of office to execute his duties with strict impartiality. This meeting will now officially come to order. We will begin today's meeting with the formal business of the meeting as set forth in your notice of annual meeting and our proxy statement. After the formal part of our meeting, we will give you an opportunity to ask any questions you may have. I will now turn the meeting over to Andrew, our Secretary, who will go over certain formalities.

Thank you, Dave. I received affirmation that notice of meeting was properly given to stockholders of record as of May 15, 2020. I have in my possession a complete list of the stockholders of record of our Class A and Class B common stocks on May 15, 2020, the record date for this meeting. This list is posted in the annual meeting portal. I have been informed by the inspector of election that proxies have been received for at least a majority of the aggregate voting power of the outstanding shares of common stock entitled to vote at this meeting. Therefore, a quorum is present for the meeting today, and the meeting is duly convened and can proceed. The polls are now open for voting on all matters to be presented, and you can vote online through the annual meeting portal any time until we announce the polls are closed. Polls will close after we go through the matters to be voted on. The agenda and rules of conduct for the meeting are posted on the annual meeting portal. We ask that you follow these rules to help the meeting run smoothly. We will address questions during the Q&A portion of the meeting. [Operator Instructions] And with that, I'll turn it back to Dave.

Thank you, Andrew. As a reminder, the polls are open for voting. There are 3 proposals to be considered by the stockholders at this meeting. Proposal 1, election of directors. The first item of business is the election of 3 Class III directors as set forth in the proxy statement. The Board of Directors has nominated the following persons to serve as Class III directors of the company until the 2023 annual meeting: Archana Agrawal, Hope Cochran and Dwight Merriman. Proposal 2, advisory vote on named Executive Officer compensation. The second item of business is the proposal to approve on a nonbinding advisory basis, the compensation of our named executive officers as described in the proxy statement. Andrew, will you please read the resolution that appears in the proxy statement.

The resolution reads as follows, "RESOLVED, that the Company's stockholders hereby approve, on a nonbinding advisory basis, the compensation of the Company's named executive officers, as disclosed in the Company's proxy statement for the 2020 annual meeting of stockholders, pursuant to the compensation disclosure rules of the Securities and Exchange Commission, including the Compensation Discussion and Analysis, the compensation tables and the accompanying narrative."

Proposal 3, ratification of selection of independent registered public accounting firm. The third item of business today is the ratification of the selection by the Audit Committee of the Board of Directors of PricewaterhouseCoopers LLP as the independent registered public accounting firm of MongoDB for the fiscal year ending January 31, 2021. This was the final proposal for today's meeting. Andrew will now describe the voting procedures.

If you have already voted, there is no need to vote now unless you'd like to change your vote. If you have not voted and you would like to vote now or if you'd like to change your vote, click the Vote Here button at the bottom right-hand corner of your screen through the annual meeting portal. We'll pause for a moment to give anyone who hasn't yet voted a chance to vote. [Voting]