MongoDB: Q4 strong, but outlook light amid exec departures

MongoDB's fourth quarter earnings were better than expected, but the company announced executive departures and an outlook that missed expectations.

The company reported fourth quarter net income of $15.5 million, or 18 cents a share, on revenue of $695.1 million, up 27% from a year ago. Non-GAAP earnings were $142.7 million, or $1.65 a share. Non-GAAP earnings beat Wall Street estimates by 18 cents a share.

For fiscal 2026, MongoDB reported a net loss of $71.15 million, or 88 cents a share, on revenue of $2.38 billion.

CEO CJ Desai said the company saw "broad-based demand" across its product lines as customers adopt more of MongoDB's platform. "Customers are excited about the strength of the MongoDB platform, the innovations we have been bringing to market, and plan to deliver in the years to come," said Desai.

• MongoDB integrates Voyage 4 models across its platform
• Constellation ShortList™ Hybrid-Cloud and MultiCloud NoSQL Databases
• Constellation ShortList™ Next-Gen Databases: RDBMS for On-Premises
• MongoDB names CJ Desai CEO

MongoDB added 2,700 new customers in the fourth quarter and ended the fiscal year with 65,200 customers. The company’s Atlas platform had revenue growth of 29%.

The outlook is what hit MongoDB shares in after-hours trading.

MongoDB projected first quarter non-GAAP earnings of $1.15 a share to $1.19 a share on revenue of $659 million to $664 million. Wall Street was expecting first quarter revenue of $669.37 million.

For fiscal 2027, MongoDB projected non-GAAP earnings of $5.74 a share to $5.93 a share on revenue of $2.86 billion to $2.9 billion. For fiscal 2027, MongoDB was expected to deliver revenue of $2.9 billion.

In addition, MongoDB announced the following executive moves.

• Erica Volini, a ServiceNow and Deloitte alum, joins MongoDB as chief customer officer.
• Cedric Pech, President of Field Operations, is leaving MongoDB.
• Paul Capombassis, Chief Revenue Officer (CRO), is leaving MongoDB at the end of the first fiscal quarter.

The company said the transition had been planned.

A key point worth noting from the earnings call is that Enterprise Advanced, MongoDB's offering that runs on premises had a strong quarter. Desai noted that the company would increasingly combine it with Atlas. As a percentage of subscription revenue, Enterprise Advanced was 21% of the total, up from 20% in the previous quarter but down from 26% a year ago.

On a conference call with analysts Desai said:

• "We signed several large deals in the quarter, including an approximately $90 million transaction with a large tech company that plans to expand both core and AI workloads on Atlas and a greater than $100 million transaction with a large financial institution for Enterprise Advanced referred as EA, representing the largest TCV deal in the history of MongoDB."
• "While AI is not yet a material driver to our results, we are encouraged by the growth we are seeing with customers leveraging our AI capabilities. The number of customers leveraging vector search has nearly doubled year-over-year and the number of customers using Voyage embedding models has also doubled since the acquisition last February. This growth is across a diverse range of customers, AI natives, digital natives and large enterprises."
• "I've spent a lot of time with not only our customers, but with our go-to-market team. So we are in the final stages, but we want to make sure that we get an excellent candidate for our Chief Revenue Officer. Erica's (Volini) focus will be as a Chief Customer Officer to ensure that customers who purchase or decide to use MongoDB platform, they get to value by providing all the post sales support functions, whether it's technical success, technical support, many other things like professional services. So one, Erica is going to focus on customers who have already bought MongoDB or expanding with MongoDB, how do they get to value and how do they get to success."
• "Because of a variety of issues related to AI for mission-critical applications, there is this trend where customers do want to keep their critical data estates on-prem. And this is not just only in financial services, we are seeing that in health care and other verticals like government. When I was in Europe and even in Asia, I'm also seeing there that there is a preference for those industries to also use MongoDB potentially with EA (Enterprise Advanced) and only certain workloads in the cloud."
• "We have ambitious road map in terms of truly machine friendly APIs or making sure that our protocol integration across a variety of protocols that machines demand and how do we Auto Scale, Auto Shard. All of that will be throughout this coming year."