MongoDB shares rose 15% in after-hours trading on Monday after the company announced strong third-quarter earnings that topped Wall Street estimates and issued a strong forecast.
The database software maker reported a revenue of $628 million, which was up 19% year over year, blowing past the $592 million expected by LSEG analysts.
The company’s adjusted earnings per share of $1.32 also beat Wall Street’s projections of 80 cents per share.
“These results reflect the strength of MongoDB’s platform – our flexible document model, expanded database capabilities like search and vector search, enterprise-grade security, durability, availability, performance, and the ability to run anywhere,” former CEO Dev Ittycheria said in a statement.
Former Cloudflare executive Chirantan “CJ” Desai succeeded Ittycheria, who led MongoDB for 11 years, in November.
Non-GAAP net income was $114.5 million, or $1.32 per share, based on 86.9 million fully diluted weighted-average shares outstanding. This compares to a non-GAAP net loss of $98.1 million, or $1.16, per share in the year-ago period.
The company expects fourth-quarter revenue to reach between $665 million and $670 million.
MongoDB raised its full-year 2026 guidance to a range of $2.434 billion to $2.439 billion vs its prior guidance of $2.34 billion to $2.36 billion. Analysts polled by FactSet expected $2.36 billion.
MongoDB year-to-date stock chart.
