MongoDB Beats Earnings Estimates But Disappoints With Light Forecast
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MongoDB reported better-than-expected earnings and revenue for the January quarter, but its guidance for the April quarter fell short of estimates.
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Revenue grew 27% year-over-year to $458 million. Atlas cloud platform revenue was up 34%.
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MongoDB narrowed its net loss to $55.5 million and had non-GAAP net income of $71.1 million.
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The company now has over 47,800 customers, up 17% year-over-year. Over 2,000 customers pay over $100k annually.
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MongoDB stock fell over 11% in after-hours trading despite the earnings beat, due to the light guidance. The stock has gained 80% in the last 12 months.