MongoDB Q2 revenue beat; quarterly outlook points to deceleration (updated)
UPDATE 1-MongoDB Q2 revenue beat; quarterly outlook points to deceleration Updates headline, adds Q2 reported figure to second Outlook bullet
Overview
Database platform provider's fiscal Q2 revenue rose 30% yr/yr, beating analyst expectations
Shares of the company were down about 12% in extended trading
Company raised full-year fiscal 2027 guidance, citing Atlas momentum
Outlook
MongoDB raises full-year fiscal 2027 revenue outlook to $2.99 bln-$3.03 bln
Company expects Q3 revenue between $756 mln and $761 mln vs $771.8 mln reported in Q2
MongoDB forecasts full-year non-GAAP EPS of $6.39 to $6.58
Result Drivers
ATLAS GROWTH - Co said Atlas revenue rose 29% yr/yr, driving overall performance and prompting full-year guidance raise
ENTERPRISE ADVANCED - Co said Enterprise Advanced and other revenue rose 36% yr/yr, contributing to total revenue growth
AI USE CASES - Co cited early momentum with AI workloads and new retrieval features as supporting demand, per CEO CJ Desai
Company press release: ID:nPn7BHrFla
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $771.80 mln | $732.91 mln (35 Analysts) |
Q2 Adjusted EPS | Beat | $1.90 | $1.61 (35 Analysts) |
Q2 EPS |
| $0.50 |
|
Q2 Adjusted Net Income | Beat | $162.60 mln | $134.21 mln (31 Analysts) |
Q2 Net Income |
| $40.90 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 36 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for MongoDB, Inc. is $460.00, about 1.5% above its August 31 closing price of $453.37
The stock recently traded at 67 times the next 12-month earnings vs. a P/E of 52 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)