MongoDB Q3 Performance Highlights: EPS Beat, Revenue Up 30%, Strong Guidance And More

MongoDB Inc MDB reported third-quarter financial results after the close on Tuesday. Here's a look at the key metrics from the quarter.

Q3 Earnings: MongoDB said third-quarter revenue increased 30% year-over-year to $432.9 million, which beat the consensus estimate of $403.65 million, according to Benzinga Pro. 

The company reported quarterly adjusted earnings of 96 cents per share, which beat analyst estimates of 50 cents per share.

Cash from operations totaled $38.4 million in the quarter. MongoDB generated $35 million in free cash flow in the third quarter compared to negative free cash flow of $8.4 million in the comparable quarter last year.

The company ended the quarter with $1.9 billion in cash, equivalents, restricted cash and short-term investments.

"MongoDB continued to perform at a high level in the third quarter, as evidenced by 30% revenue growth and better-than-expected profitability. We are pleased by our success in winning new workloads from both new and existing customers across verticals, geographies, and customer segments," said Dev Ittycheria, president and CEO of MongoDB.

Outlook: MongoDB expects fourth-quarter revenue to be between $429 million and $433 million versus estimates of $413.94 million. The company anticipates full-year 2024 revenue of $1.654 billion to $1.658 billion versus estimates of $1.61 billion.

MongoDB sees fourth-quarter adjusted earnings in the range of 44 cents to 46 cents per share versus estimates of 37 cents per share. The company expects full-year 2024 earnings of $2.89 to $2.91 per share versus estimates of $2.35 per share.

MongoDB also announced the appointment of Ann Lewnes to the board. Lewnes previously served in senior leadership roles at Adobe Systems. Management will hold a conference call to discuss the quarter at 5 p.m. ET.

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MDB Price Action: MongoDB shares were down 5.91% after hours at $408.04 at the time of publication, according to Benzinga Pro.

Photo: Pexels from Pixabay.