MongoDB Inc (NASDAQ:MDB) reported financial results for the first quarter of fiscal 2027 after the closing bell on Thursday. Here’s a rundown of the report.
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MongoDB Q1 Highlights
MongoDB posted first-quarter revenue of $687.62 million, beating analyst estimates of $667.82 million, according to Benzinga Pro. The data platform company reported first-quarter adjusted earnings of $1.32 per share, beating analyst estimates of $1.18 per share.
Total revenue increased 25% year-over-year as subscription revenue grew 25% and services revenue rose by 22%. Remaining performance obligations totaled $1.46 billion at quarter’s end, up 88% year-over-year.
MongoDB generated free cash flow of $197.5 million during the period and ended the quarter with $2.4 billion in cash, cash equivalents, restricted cash and short-term investments.
“We delivered better-than-expected first quarter results, as our go-to-market teams continue to execute well and capitalize on strong end-market demand for the MongoDB platform across enterprise use cases and emerging AI opportunities,” said CJ Desai, president and CEO of MongoDB.
“At the same time, we continue to show strong profitability, demonstrating we can drive durable revenue growth while simultaneously expanding margin.”
MongoDB expects second-quarter revenue to be in the range of $729 million to $734 million versus estimates of $704.57 million. The company also guided for second-quarter adjusted earnings of $1.58 to $1.61 per share versus estimates of $1.28 per share.
MongoDB lifted its fiscal 2027 revenue guidance from a range of $2.86 billion to $2.90 billion to a new range of $2.92 billion to $2.96 billion, versus estimates of $2.90 billion. The company also raised its full-year adjusted earnings guidance from a range of $5.75 to $5.93 per share to a new range of $5.95 to $6.14 per share, versus estimates of $5.86 per share.
MongoDB executives will further discuss the quarter on an earnings call with investors and analysts at 5 p.m. ET.
MDB Shares Rip Higher After The Bell
MDB Price Action: MongoDB shares were up 22.76% in after-hours on Thursday, trading at $399.80 at publication time, according to Benzinga Pro.
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