MongoDB, Inc. reported robust financial results for the second quarter of fiscal year 2026, with revenue reaching $591 million, a 24% increase from a year earlier. This performance significantly surpassed the average analyst estimate of $556 million. The company's earnings also exceeded expectations, contributing to a positive market reaction.
The strong performance was fueled by increasing usage of its Atlas cloud service, particularly as more customers build AI applications on the platform. MongoDB announced it added more than 5,000 customers year-to-date, marking the highest ever in the first half of the year. These new customers include many AI-native companies utilizing MongoDB for their operations.
MongoDB raised its full-year fiscal 2026 forecast for both profit and revenue. The company now anticipates full-year revenue to be between $2.34 billion and $2.36 billion, an increase from its previous guidance. This updated outlook reflects management's confidence in continued growth, driven by AI tailwinds and strong new business momentum.
The company's Atlas cloud database service is seeing increasing demand, indicating that the financial benefits of AI are making their way downstream to enterprise technology companies. This suggests that MongoDB's platform is well-positioned to capitalize on the expanding AI market.
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