MongoDB's second quarter was well ahead of expectations and the company raised its outlook as its platform is landing more consumption due to AI applications.
The company reported a second quarter net loss of $47 million, or 58 cents a share, on revenue of $591.4 million, up 24% from a year ago. Non-GAAP earnings for the quarter were $1 a share.
Wall Street was expecting MongoDB to report second quarter non-GAAP earnings of 66 cents a share on revenue of $553.57 million.
Dev Ittycheria, CEO of MongoDB, said Atlas revenue was up 29% from a year ago and the company added 5,000 customers. Ittycheria said MongoDB's flexible document model, expanded database search and vector search and ability to run anywhere is landing workloads. "Many of our recently added customers are building AI applications," he said.
Key figures:
- MongoDB has 59,900 total customers at the end of the quarter.
- The company ended the quarter with $2.3 billion in cash, cash equivalents and short-term investments.
- The company had 2,564 customers in the second quarter with more than $100,000 in annual recurring revenue.
- Direct sales customers at the end of the second quarter were more than 7,300, down from more than 7,500 in the first quarter.
- MongoDB launched new Voyage AI models in the quarter and expanded partnerships with the likes of LangChain, Temporal and Galileo.
As for the outlook, MongoDB projected third quarter revenue between $587 million to $592 million with non-GAAP earnings of 76 cents a share to 79 cents a share. For fiscal 2026, MongoDB is projecting revenue of $2.34 billion to $2.36 billion with non-GAAP earnings of $3.64 a share to $3.73 a share.
Ittycheria said the following on MongoDB's second quarter conference call:
- MongoDB will hold its investor day Sept. 17 along with its .local conference. The key topic will be durable growth and margin expansion.
- "Atlas enable one of the world's largest automakers to overcome Postgres scalability and flexibility limits while reducing complexity. The company's management console tracks over 8.5 million vehicles requiring a modern schema to handle both structured and unstructured data, something Postgres could not handle. Ultimately, Atlas consolidated infrastructure, accelerated innovation and support the scale of millions of connected vehicles."
- "Deutsche Telekom selected MongoDB Atlas as the foundation for its internal developer platform, which includes mission-critical workloads like contract management, device purchases and billing for 30 million customers. With 90 Atlas clusters managing over 60 million customer records, Deutsche Telekom's customer data platform now handles 15x the concurrent logins of legacy systems."
- "Comparing MongoDB to another database like Postgres is not an apples-to-apples comparison. The choice is between MongoDB or Postgres plus other offerings like Pinecone, Elastic and Cohere for embeddings."
- "DevRev, a well-funded AI-native platform with proven founders disrupting the help desk market built AgentOS, it's a complete agentic platform that autonomously handles billions of monthly requests on Atlas. DevRev accelerated development velocity, lower cost and scale globally with low latency by using Atlas. AgentOS also leverages Atlas Vector Search for semantic search enriching its knowledge graph and LLMs with domain-specific content."
- "What we're hearing clearly from the startup community that Postgres, in many cases, is not scaling for them, and they're now coming to us. And so we feel really good about our position. But the reality is that a lot of these AI founders kind of start with what they know or what they've used in the past and only when the business starts scaling, do they start recognizing the challenges."
