MongoDB raises outlook after strong Q1 results

MongoDB delivered strong first quarter results with 25% revenue growth. The company also raised its outlook.

The company reported first quarter earnings of $4.4 million, or 5 cents a share, on revenue of $687.6 million, up 25% from a year ago. Non-GAAP earnings for the quarter were $1.32 a share.

Wall Street was looking for first quarter non-GAAP earnings of $1.18 a share on revenue of $663.8 million.

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CEO CJ Desai said the company executed well and MongoDB was seeing strong demand for enterprise and AI use case. "With our recently expanded leadership across both product and sales, I'm confident that we have the right team in place to move with even greater velocity," said Desai.

During the quarter, MongoDB appointed Ryan Mac Ban as Chief Revenue Officer and Doug Bowers as Chief Information Security Officer. Pablo Stern joined the company as Chief Product Officer, AI and Emerging Products, while Ben Cefalo, a longtime MongoDB product leader, was named Chief Product Officer, Core Products.

Remaining performance obligations in the quarter were $1.46 billion, up 88% from a year ago.

As for the outlook, MongoDB said second quarter revenue will be between $729 million to $734 million with non-GAAP earnings of $1.58 a share to $1.61 a share. For fiscal 2027, MongoDB projected revenue between $2.92 billion and $2.96 billion with non-GAAP earnings of $5.95 a share to $6.14 a share.