MongoDB jumps 15% after company boosts guidance, cites confidence in cloud-based database service

MongoDB jumps 15% after company boosts guidance, cites confidence in cloud-based database service


Dev Ittycheria, CEO of MongoDB

Adam Jeffery | CNBC

MongoDB shares surged 15% 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 more than $450 million in the year-ago period. That 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, saying it now expects between $2.25 billion and $2.29 billion in revenue and $2.94 to $3.12 in adjusted earnings per share. MongoDB previously forecast revenues between $2.24 billion and $2.28 billion and adjusted earnings of $2.44 to $2.62 per share for the year.

MongoDB expects revenues to range between $548 million and $553 million in the current fiscal quarter. Adjusted earnings are forecasted to reach 62 cents to 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 said revenues for Atlas during the quarter grew 26% from a year ago and accounted 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,” wrote Goldman Sachs analyst Kash Rangan in a note to clients.

The database software maker’s net loss narrowed from a year ago to $37.6 million, or a loss of 46 cents per share. That’s 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.

WATCH: Access to capital will profoundly impact the performance of AI models: MongoDB CEO Dev Ittycheria

Access to capital will profoundly impact the performance of AI models: MongoDB CEO Dev Ittycheria



Source

Quantum computing is having a moment. But the technology remains futuristic
Technology

Quantum computing is having a moment. But the technology remains futuristic

Microsoft’s Majorana 1 quantum computing chip Microsoft It doesn’t quite have the buzz of artificial intelligence, but quantum computing is having a moment of its own. Some of the most powerful institutions in the world, including Google, Microsoft, Amazon, IBM and the U.S. government, are spending many millions of dollars in a race to develop […]

Read More
Germany tells Apple, Google to block DeepSeek as the Chinese AI app faces rising pressure in Europe
Technology

Germany tells Apple, Google to block DeepSeek as the Chinese AI app faces rising pressure in Europe

In this photo illustration, the DeepSeek logo is seen displayed on a smartphone screen and in the background, the flag of the European Union. Thomas Fuller | Sopa Images | Lightrocket | Getty Images One of Germany’s data protection watchdogs on Friday said DeepSeek’s app illegally sends user data to China and asked Google and […]

Read More
SoftBank CEO says he’s ‘all in’ on OpenAI, reveals he’s long wanted Microsoft’s spot as main backer
Technology

SoftBank CEO says he’s ‘all in’ on OpenAI, reveals he’s long wanted Microsoft’s spot as main backer

Masayoshi Son, chairman and chief executive officer of SoftBank Group Corp., speaks during the company’s annual general meeting in Tokyo, Japan, on Friday, June 27, 2025. Bloomberg | Bloomberg | Getty Images SoftBank is “all in” on OpenAI, CEO Masayoshi Son said on Friday, as the Japanese tech giant looks to realize its vision of […]

Read More