MongoDB Inc. reported third‑quarter fiscal 2026 results that surpassed analyst expectations, with total revenue of $628.3 million, up 19% year‑over‑year, and adjusted earnings per share of $1.32, a beat of $0.53 or 67% over the consensus estimate of $0.79.
Atlas, the company’s cloud‑hosted database platform, generated $471 million in revenue, a 30% year‑over‑year increase that represents 75% of total revenue. Services revenue rose to $19.2 million, up 12.1% from $17.4 million a year earlier, while direct‑sales customers declined slightly, reflecting a shift toward the higher‑margin Atlas customer base. The company added 2,600 new customers in the quarter, bringing the total to more than 62,500.
Gross margin fell to 74% from 77% a year earlier, a compression driven by a mix shift toward lower‑margin direct‑sales contracts. Non‑GAAP operating margin expanded to 19.6% from 19.2% year‑ago, reflecting the revenue upside and disciplined cost management that offset the margin pressure from the mix shift.
Management raised its full‑year revenue guidance to $2.434 billion–$2.439 billion, up from the prior $2.34 billion–$2.36 billion range, and lifted adjusted EPS guidance to $4.76–$4.80, compared with the previous $4.56–$4.60 range. The upward revision signals confidence in continued demand for Atlas and the company’s ability to maintain profitability as it scales its AI‑enabled platform.
CEO CJ Desai, who assumed the role on November 10, 2025, emphasized that the quarter’s performance was driven by “continued strength in Atlas, which saw growth accelerate to 30% year‑over‑year,” and highlighted “meaningful margin outperformance as we executed on our plan to drive profitable growth.” He added that MongoDB’s unified data platform is positioned to capitalize on the emerging AI platform shift, underscoring the company’s strategic focus on AI and application modernization.
Analysts upgraded their price targets following the results, raising expectations for MongoDB’s growth trajectory. The upgrades reflected the company’s strong earnings beat, the accelerated Atlas growth, and the guidance raise, all of which reinforce confidence in MongoDB’s ability to sustain momentum in the cloud‑native database market.
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