MongoDB vs Redis: Revenue, Profit and Business Model
MongoDB reported $2.5B of revenue in FY2026 and a net loss of $71.2M. Redis reported $300M of revenue in FY2025 and — of net income.
Latest financial snapshot
Financial summary
MongoDB
MongoDB grew revenue from $114.8M in fiscal 2017 to $2.464B in fiscal 2026 while narrowing GAAP losses from a peak of $345.4M in fiscal 2023 to $71.2M in fiscal 2026. Profitability improved further in fiscal 2027: Q2 revenue reached $771.8M (up 30%), GAAP operating income was $28.4M, non-GAAP operating margin hit 24%, and free cash flow nearly doubled to $137.6M. The company held $2.4B in cash and investments at July 31, 2026 and raised full-year fiscal 2027 revenue guidance to $2.99B to $3.03B.
Redis
Redis is private and does not publish audited results, so ARR disclosures are the main financial signal. The company said in January 2026 that ARR had passed $300 million and that its count of $1M+ customers had grown more than 20% year over year. Its last priced funding round was a $110 million Series G in April 2021 at a valuation above $2 billion, led by Tiger Global with SoftBank Vision Fund 2 participating. Profitability, cash flow and revenue by product have not been disclosed.
Revenue and profit by year
MongoDB
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | $2.5B | -$71.2M | -2.9% | +22.8% | Source |
| FY2025 | $2B | -$129.1M | -6.4% | +19.2% | Source |
| FY2024 | $1.7B | -$176.6M | -10.5% | +31.1% | Source |
| FY2023 | $1.3B | -$345.4M | -26.9% | +47.0% | Source |
| FY2022 | $873.8M | -$306.9M | -35.1% | +48.0% | Source |
| FY2021 | $590.4M | -$266.9M | -45.2% | +40.0% | Source |
| FY2020 | $421.7M | -$175.5M | -41.6% | +57.9% | Source |
| FY2019 | $267M | -$99M | -37.1% | +60.8% | Source |
| FY2018 | $166M | -$84M | -50.6% | +44.6% | Source |
| FY2017 | $114.8M | -$70.1M | -61.0% | — | Source |
Redis
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2025 | $300M | — | 0.0% | — | Source |
Where the revenue comes from
MongoDB
- MongoDB Atlas
Managed cloud database revenue driven by consumption of compute, storage, backup, search, and related services.
- Enterprise Advanced
Self-managed enterprise subscriptions, support, and advanced database capabilities.
- Professional services
Consulting, training, migration, and technical enablement for customers.
- Search and AI platform features
Additional Atlas usage from search, vector search, stream processing, and data services.
Redis
No segment breakdown is published.
Business model and strategy
MongoDB
How it makes money
MongoDB runs a developer-led, open-core model. The free Community Server (source-available under the SSPL since 2018) drives adoption. Revenue comes from MongoDB Atlas, a fully managed service on AWS, Google Cloud, and Microsoft Azure billed on consumption of compute, storage, and data transfer; from MongoDB Enterprise Advanced, a self-managed subscription with security, management tooling, and support;
Growth strategy
Under CEO CJ Desai, MongoDB is positioning itself as a data platform for AI applications: Atlas Vector Search, Voyage AI embedding and reranking models (acquired in 2025), and tooling that connects coding agents to operational data. It also pursues migrations off relational databases and sells a 'run anywhere' approach spanning self-managed Enterprise Advanced and multi-cloud Atlas.
Competitive advantage
MongoDB's advantage rests on developer familiarity with the document model, the ability to run the same database self-managed or on any of the three largest clouds, integrated search and vector search inside Atlas, and high switching costs once applications are built on it. Its customer base grew from about 54,500 in January 2025 to more than 70,600 in July 2026.
Redis
How it makes money
Redis follows an open-core model. The Redis engine is free to download, while the company charges for Redis Cloud, a managed database service billed by memory, throughput and features on AWS, Google Cloud and Azure, and for Redis Software, a self-managed subscription for on-premises and private-cloud deployments.
Growth strategy
Growth rests on moving customers from free Redis to Redis Cloud, expanding large accounts (50+ spend over $1M a year), and selling AI features such as vector search, semantic caching and feature stores. Cloud marketplace listings on AWS, Google Cloud and Azure let enterprises buy Redis against existing cloud commitments.
Competitive advantage
Redis's advantages are developer familiarity built over 15+ years, sub-millisecond in-memory performance, a broad set of data structures in one engine (strings, hashes, streams, JSON, search, vectors), and paid features the community edition lacks, such as Active-Active replication based on CRDTs and Redis Flex tiering.
Questions about MongoDB vs Redis
Which company has higher revenue — MongoDB, Inc. or Redis, Inc.?
MongoDB, Inc. reported $2.5B (FY2026), while Redis, Inc. reported $300.0M (FY2025). By last reported revenue, MongoDB, Inc. is the larger business, with Redis, Inc. reporting a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of MongoDB, Inc. vs Redis, Inc.?
MongoDB, Inc. has a market capitalisation of $30.1B. A public market cap figure for Redis, Inc. was not available (it may be privately held).
Which is more financially efficient — MongoDB, Inc. or Redis, Inc.?
MongoDB, Inc. generates $437k / employee in revenue per employee, while Redis, Inc. generates $231k / employee. MongoDB, Inc. shows higher revenue efficiency per headcount, though this reflects business model differences — capital-light software companies routinely outperform labour-intensive manufacturers on this metric.
How do MongoDB, Inc. and Redis, Inc. make money?
MongoDB, Inc. and Redis, Inc. generate revenue in fundamentally different ways. MongoDB, Inc.: MongoDB runs a developer-led, open-core model. Redis, Inc.: Redis follows an open-core model.
Is MongoDB, Inc. bigger than Redis, Inc.?
By last reported revenue, MongoDB, Inc. ($2.5B (FY2026)) is the larger company compared to Redis, Inc. ($300.0M (FY2025)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the MongoDB vs Redis overview