MongoDB Surges 14% Following Upgraded Guidance, Expresses Confidence in Cloud Database Solutions

Dev Ittycheria, CEO of MongoDB.
Adam Jeffery | CNBC

MongoDB shares surged 14% after the software company surpassed fiscal first-quarter earnings expectations and raised its outlook, citing growing confidence in its cloud-based database service. Revenues hit $549 million during the period, jumping 22% from over $450 million in the year-ago period. This topped a $528 million estimate from analysts polled by LSEG. Adjusted earnings per share reached $1.00, surpassing the 66 cents per share projected by analysts.

“We are confident in our position to drive profitable growth as we benefit from this next wave of application development,” said CEO and president Dev Ittycheria in a release.

For the 2026 fiscal year, MongoDB raised its guidance, now expecting between $2.25 billion and $2.29 billion in revenue and $2.94 to $3.12 in adjusted earnings per share. This is an increase from the previous forecast of revenue between $2.24 billion and $2.28 billion and adjusted earnings of $2.44 to $2.62 per share for the year.

MongoDB anticipates revenue to range between $548 million and $553 million in the current fiscal quarter, with adjusted earnings projected to reach between 62 cents and 66 cents per share during the period.

During a company earnings call, finance chief Mike Berry cited “continued confidence” in its Atlas cloud-based database services and “timing differences” in its Enterprise Advanced database business as the reason for the guidance boost. Berry took over the role at the end of May.

MongoDB reported that revenues for Atlas during the quarter grew 26% compared to a year ago, accounting for 72% of total revenues. “As digital transformation and public cloud adoption remain top priorities, we believe MongoDB is well positioned to capitalize on growth from net new workloads and re-platforming of legacy applications,” noted an analyst in a recent update.

The database software maker’s net loss narrowed from a year ago to $37.6 million, or a loss of 46 cents per share, down from a net loss of $80.6 million, or a loss of $1.10 per share last year. The company also boosted its share buyback plan by $800 million to $1 billion.

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