Why MongoDB Shares Spiked After Hours

MongoDB Inc MDB shares are trading higher after the company reported better-than-expected Q4 EPS and sales results. The company also issued Q1 and FY23 EPS and sales guidance above analyst estimates.

Total Q4 revenue came in at $266.5 million, an increase of 56% year-over-year. Subscription revenue grew 58% and services revenue grew 17%. The company guided Q1 sales of $263 million to $267 million vs the $253.41 million consensus estimate.

Shares of MongoDB were up 9.68% at $309.01 at the time of publication. The stock has a 52-week low of $238.01 and a 52-week high of $590.