Dev Ittycheria, CEO, MongoDB.
Scott Mlyn | CNBC
MongoDB Shares rose as much as 16% in prolonged trading on Thursday after the database software maker reported strong earnings for its second fiscal quarter and raised its full-year forecast.
This is how the corporate went against the LSEG consensus:
- Earnings per share: 70 cents adjusted in comparison with 49 cents expected
- Revenue: $478.1 million versus $464.1 million
MongoDB’s revenue rose 13% year-over-year within the quarter ended July 31, based on a opinionNet loss for the quarter was $54.5 million, or 74 cents per share, in comparison with $37.6 million, or 53 cents per share, in the identical quarter last yr.
“We believe we are incredibly well positioned to help customers integrate generative AI into their business and modernize their existing application portfolio,” CEO Dev Ittycheria said within the statement.
The company’s Atlas cloud database service is having fun with barely higher usage than expected, he said in a conference call with analysts.
In the primary fiscal quarter, Atlas consumption growth slowed as customers noticed tougher economic conditions, and usage within the second fiscal quarter suggested the climate had not modified, Ittycheria said.
“We have generally not seen an impact of the macro environment on our ability to win new business, and that was the case in the second quarter as well,” Ittycheria said. “We have found that to be different than what you hear from other software vendors.”
On Thursday, Ash Kulkarni, CEO of the search software maker Elasticsaid the quantity of customer commitments it has in its first fiscal quarter was lower than expected. The stock lost 23% after the market closed.
In terms of guidance, MongoDB called for third-quarter adjusted earnings of 65 cents to 68 cents per share on revenue of $493.0 million to $497.0 million. Analysts surveyed by LSEG had expected adjusted earnings per share of 60 cents on revenue of $478.8 million.
Management has barely raised its guidance for fiscal 2025. MongoDB now expects adjusted earnings of $2.33 to $2.47 per share and revenue of $1.92 billion to $1.93 billion. This is a rise from the May forecast, which called for adjusted earnings of $2.15 to $2.30 per share and revenue of $1.88 billion to $1.90 billion. Analysts had forecast adjusted earnings of $2.26 per share and revenue of $1.90 billion.
Excluding after-hours motion, MongoDB shares are down nearly 40% year-over-year, while the S&P 500 index is up 17% over the identical period.
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