MongoDB (MDB) Shares Up 12% Following Strong Q2 Beat

MongoDB (NASDAQ: MDB) shares surged 12% after-hours following the company’s reported strong Q2 results, with EPS of ($0.24), coming in better than the consensus estimate of ($0.39). Quarterly revenue grew 44% year-over-year to $198.7 million (vs. consensus estimate of $184.2 million), with subscription revenue of $191.4 million, representing an increase of 44% year-over-year.

According to Dev Ittycheria, President and CEO of MongoDB, the company delivered outstanding results, highlighted by 83% year-over-year revenue growth of MongoDB Atlas, which represents 56% of total Q2 revenue.

Ittycheria also highlighted the achieved milestone of 200 million cumulative downloads from their website, mentioning that the company had more than 75 million downloads in the last 12 months alone, greater than the cumulative downloads in the first 11 years of the company’s existence.

The company expects Q3 EPS of ($0.42)-($0.39), versus the consensus of ($0.37) and revenue of $202-204 million, versus the consensus of $198.3 million.

For the full 2022-year, the company anticipates an EPS of ($1.20)-($1.13) and revenue of $805-811 million, both better than the consensus estimates of ($1.29) and $786.06 million, respectively.

You May Also Be Interested In

• First Advantage to join S&P SmallCap 600, replacing Kennedy-Wilson
• Academy Sports and Outdoor (ASO) Misses Q1 EPS by 1c ; Offers Guidance
• Astera Labs, Coreweave, Nebius, Rocket Lab To Join Nasdaq-100 - Bloomberg