Santos

Posted on | by Leon Hinde | Leave a Comment on Santos

STO shares remain heavily discounted, given superior free cash flow. Barossa project progression, completion of PNG selldown, and the potential merger proposal from WDS are all positive catalysts.

We expect STO to report a solid 4Q on 25th January and we look to buy STO on the current dip in price.

MongoDB

Posted on | by Leon Hinde | Leave a Comment on MongoDB

NAS: MDB is a buy with a suggested stop loss below $360.

Third Quarter Fiscal 2024 Financial Highlights

  • Revenue: Total revenue was $432.9 million for the third quarter of fiscal 2024, an increase of 30% year-over-year. Subscription revenue was $418.3 million, an increase of 30% year-over-year, and services revenue was $14.6 million, an increase of 13% year-over-year.
  • Gross Profit: Gross profit was $325.9 million for the third quarter of fiscal 2024, representing a 75% gross margin compared to 72% in the year-ago period. Non-GAAP gross profit was $335.3 million, representing a 77% non-GAAP gross margin, compared to a non-GAAP gross margin of 74% in the year-ago period.
  • Loss from Operations: Loss from operations was $45.2 million for the third quarter of fiscal 2024, compared to a loss from operations of $82.9 million in the year-ago period. Non-GAAP income from operations was $78.5 million, compared to a non-GAAP income from operations of $19.8 million in the year-ago period.
  • Net Loss: Net loss was $29.3 million, or $0.41 per share, based on 71.6 million weighted-average shares outstanding, for the third quarter of fiscal 2024. This compares to a net loss of $84.8 million, or $1.23 per share, in the year-ago period. Non-GAAP net income was $79.1 million, or $0.96 per share, based on 82.7 million diluted weighted-average shares outstanding. This compares to a non-GAAP net income of $18.7 million, or $0.23 per share, in the year-ago period.
  • Cash Flow: As of October 31, 2023, MongoDB had $1.9 billion in cash, cash equivalents, short-term investments and restricted cash. During the three months ended October 31, 2023, MongoDB generated $38.4 million of cash from operations, used $2.1 million of cash in capital expenditures and used $1.4 million of cash in principal repayments of finance leases, leading to free cash flow of $35.0 million, compared to negative free cash flow of $8.4 million in the year-ago period.