MongoDB (MDB) Tops Q3 EPS by 4c, Beats on Revenues; Offers Q4 EPS/Revenues & FY18 Revenue Guidance Above Consensus

MongoDB (NASDAQ: MDB) reported Q3 EPS of ($0.44), $0.04 better than the analyst estimate of ($0.48). Revenue for the quarter came in at $41.5 million versus the consensus estimate of $37.16 million.

Third Quarter Fiscal 2018 Financial Highlights

• Revenue: Total revenue was $41.5 million in the third quarter fiscal 2018, an increase of 58% year-over-year. Subscription revenue was $37.9 million, an increase of 59% year-over-year, and services revenue was $3.6 million, an increase of 44% year-over-year.
• Gross Profit: Gross profit was $30.4 million in the third quarter fiscal 2018, representing a 73% gross margin consistent with the year-ago period. Non-GAAP gross profit was $30.7 million, representing a 74% non-GAAP gross margin.
• Loss from Operations: Loss from operations was $24.1 million in the third quarter fiscal 2018, compared to $19.3 million in the year-ago period. Non-GAAP loss from operations was $18.4 million, compared to $15.0 million in the year-ago period.
• Net Loss: Net loss was $24.2 million, or $1.39 per share based on 17.4 million weighted-average shares outstanding, in the third quarter fiscal 2018. This compares to $19.5 million, or $1.57 per share based on 12.4 million weighted-average shares outstanding, in the year-ago period. Non-GAAP net loss was $18.5 million, or $0.44 per share based on 41.7 million non-GAAP weighted-average shares outstanding, which we refer to as non-GAAP net loss per share. This compares to $15.2 million, or $0.40 per share based on 38.3 million non-GAAP weighted-average shares outstanding, in the year-ago period.
• Cash Flow: As of October 31, 2017, MongoDB had $289.1 million in cash, cash equivalents, short-term investments and restricted cash, which includes approximately $201.6 million of net proceeds, after deducting underwriting discounts and commissions and estimated offering expenses, from its initial public offering. During the three months ended October 31, 2017, MongoDB used $10.3 million of cash in operations and $0.1 million in capital expenditures, leading to negative free cash flow of $10.4 million, compared to negative free cash flow of $6.5 million in the year-ago period.

GUIDANCE:

MongoDB sees FY2018 EPS of ($1.77)-$1.76. MongoDB sees FY2018 revenue of $151.5-152 million, versus the consensus of $146.14 million.

MongoDB sees Q4 2018 EPS of ($0.43)-($0.42), versus the consensus of ($0.44). MongoDB sees Q4 2018 revenue of $42-42.5 million, versus the consensus of $41.2 million.

For earnings history and earnings-related data on MongoDB (MDB) click here.

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