MongoDB delivers strong Q2, outlook

MongoDB reported strong fiscal second quarter results with revenue growth of 30%.

The company reported second quarter earnings of $40.9 million, or 50 cents a share, on revenue of $771.8 million, up 30% from a year ago. Non-GAAP earnings were $1.90 a share.

Wall Street was expecting MongoDB to report non-GAAP earnings of $1.61 a share on revenue of $734.4 million.

• MongoDB launches Voyage AI, search tools aimed at on-prem, private cloud deployments
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CEO CJ Desai said the company's performance was driven by AI workloads. "This performance reflects the mission-critical role our platform plays for customers, with strength driven by core enterprise workloads and early momentum with AI use cases. That strength spans our run anywhere strategy across both Atlas and Enterprise Advanced, highlighting the power of our data platform," said Desai.

Desai said the company is focusing on simplifying how developers connect to coding agents and connect operational data on MongoDB.

MongoDB said it had more than 70,600 customers in the quarter with more than 69,000 on Atlas. Customers spending more than $100,000 in ARR were 2,999.

The one nit in the second quarter was a surge in capital expenditures. In the second quarter, MongoDB reported capital expenditures of $2.47 billion, up from $537 million a year ago. CapEx has more than doubled for the six months ending July 31.

MongoDB projected third quarter revenue between $756 million to $761 million with non-GAAP earnings of $1.57 a share to $1.61 a share. For fiscal 2027, MongoDB is projecting revenue between $2.99 billion to $3.03 billion with non-GAAP earnings of $6.39 a share to $6.58 a share.