MongoDB Inc. (NASDAQ: MDB) beat revenue estimates and reported a narrower-than-expected loss for the second quarter of 2020. The company also raised its outlook for the full year. Shares dipped slightly by 0.26% in aftermarket hours on Wednesday.
Total revenue grew 67% year-over-year to $99.4 million, beating estimates of $91.6 million.
GAAP net loss was $37.3 million, or $0.67 per share, compared to $27.8 million, or $0.54 per share, in the year-ago period. Adjusted net loss was $14.7 million or $0.26 per share. Analysts had forecast a loss of $0.28 per share.
During the quarter, subscription revenue rose 71% year-over-year to $94.2 million and services revenue grew 15% to $5.2 million. MongoDB Atlas revenue comprised 37% of total revenue and increased 240% year-over-year. At quarter-end, the company had over 15,000 customers.
Dev Ittycheria, President and Chief Executive Officer said, “The recent release of MongoDB 4.2 and introduction of new products and features such MongoDB Atlas Data Lake and MongoDB Full-Text Search further extend the value of our platform and enable customers to get more value from their data. We are confident that our innovative product offerings will position MongoDB for continued success.”
For the third quarter of 2020, MongoDB expects revenue of $98-100 million and adjusted loss per share of $0.29-0.27. For fiscal year 2020, the company updated its outlook and now expects revenue of $390-395 million and adjusted loss per share of $1.11-1.06. This compares to the previous guidance of $375-381 million in revenues and adjusted loss per share of $1.11 to $1.04.
Get access to timely and accurate verbatim transcripts that are published within hours of the event.
Most Popular
Charles Schwab (SCHW) Q1 2024 Earnings: Key financials and quarterly highlights
The Charles Schwab Corporation (NYSE: SCHW) reported first quarter 2024 earnings results today. Net revenues decreased 7% year-over-year to $4.74 billion. Net income available to common shareholders was $1.25 billion,
GS Earnings: All you need to know about Goldman Sachs’ Q1 2024 earnings results
The Goldman Sachs Group, Inc. (NYSE: GS) reported its first quarter 2024 earnings results today. Net revenues were $14.21 billion, up 16% from the same period last year. Net earnings
Centuri Holdings takes the IPO route to expand. Here’s all you need to know
Utility infrastructure service provider Centuri Holdings, Inc. has initiated an initial public offering as it seeks to spin off from parent company Southwest Gas Holdings and become an independent entity.
