MongoDB jumps 13% after company boosts guidance, cites cloud strength

Shares of MongoDB surged nearly 13% following the company's impressive fiscal first-quarter results, which exceeded earnings expectations and prompted an upward revision of its revenue forecasts. The company reported revenues of $549 million for the quarter, reflecting a robust 22% increase from the previous year's $450 million, significantly surpassing analysts' predictions of $528 million. Adjusted earnings per share reached $1.00, well above the anticipated 66 cents. CEO Dev Ittycheria expressed strong confidence in MongoDB's growth potential, highlighting the company's advantage in the evolving application development landscape. For the 2026 fiscal year, MongoDB has adjusted its revenue guidance to between $2.25 billion and $2.29 billion, along with an estimated adjusted earnings per share of $2.94 to $3.12. Previously, the company had forecasted revenues of $2.24 billion to $2.28 billion and adjusted earnings of $2.44 to $2.62 per share. For the current quarter, MongoDB forecasts revenues in the range of $548 million to $553 million, with adjusted earnings projected between 62 cents and 66 cents per share. Finance chief Mike Berry, who recently assumed his role, attributed the positive guidance to sustained confidence in its Atlas cloud database services and operational timing differences in its Enterprise Advanced division. Notably, revenue from Atlas grew by 26% compared to the previous year, comprising 72% of MongoDB's total revenue. Analyst Kash Rangan from Goldman Sachs noted that as digital transformation and public cloud adoption remain focal points for businesses, MongoDB is poised to leverage growth from new workloads and the modernization of legacy systems. The company also reported a reduced net loss of $37.6 million, or 46 cents per share, down from a net loss of $80.6 million, or $1.10 per share, a year earlier. Additionally, MongoDB announced a significant increase in its share buyback program, raising it by $800 million to a total of $1 billion.