Zinger Key Points
- MongoDB reports quarterly earnings of $1.16 per share which beat the analyst consensus estimate of 69 cents.
- Quarterly revenue comes in at $529.4 million which beat the consensus estimate of $497.75.
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MongoDB, Inc. MDB reported its third-quarter results after Monday's closing bell. Here's a look at the key figures from the quarter.
The Details: MongoDB reported quarterly earnings of $1.16 per share, which beat the analyst consensus estimate of 69 cents. Quarterly revenue came in at $529.4 million, which beat the consensus estimate of $497.75 and is an increase over sales of $432.938 million from the same period last year.
Subscription revenue was $512.2 million, an increase of 22% year-over-year, and services revenue was $17.2 million, an increase of 18% year-over-year. Non-GAAP gross profit was $405.7 million, representing a 77% non-GAAP gross margin, consistent with a non-GAAP gross margin of 77% in the year-ago period.
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“MongoDB’s third-quarter results were significantly ahead of expectations on the top and bottom line, driven by better-than-expected EA performance and 26% Atlas revenue growth. We continue to see success winning new business due to the superiority of MongoDB’s developer data platform in addressing a wide variety of mission-critical use cases,” said Dev Ittycheria, president and CEO of MongoDB.
MongoDB also announced its COO and CFO Michael Gordon will step down on Jan. 31, 2025. Serge Tanjga has been named Interim CFO starting Feb. 1, if no other candidate is appointed.
Outlook: MongoDB sees fourth-quarter revenue of between $515 million and $519 million, versus the $506.13 million estimate, and adjusted earnings of between 62 cents and 65 cents per share, versus the 56 cent estimate.
The company expects fiscal 2025 revenue in a range of $1.973 billion to $1.977 billion, versus the $1.93 billion estimate, and adjusted earnings of between $3.01 and $3.03 per share, versus the $2.47 estimate.
MDB Price Action: According to Benzinga Pro, MongoDB shares are up 8.90% after-hours at $381.30 at the time of publication Monday.
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