Categories AlphaGraphs, Earnings, Technology

MongoDB’s Q2 results beat estimates

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.

MongoDB quarterly customer growth trend

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.”

Also see: MongoDB Q2 2020 Earnings Preview

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

HD Stock: What’s in store for Home Depot after record second quarter

Home improvement is one of the top activities that kept Americans busy during the pandemic, a trend that enabled The Home Depot, Inc. (NYSE: HD) to beat the crisis and

Target (TGT) stock drops after Q2 earnings miss estimates; revenue up 4%

Department store chain Target Corporation (NYSE: TGT) reported a sharp decline in adjusted earnings for the second quarter of 2022, despite an increase in net sales. The bottom line also fell

Amazon (AMZN) stock remains a good bet despite poor results. Here’s why, Inc. (NASDAQ: AMZN) became an inspiration for other players in the eCommerce sector as the online retailer successfully channelized its resources to tap into the spike in demand for

Add Comment
Viewing Highlight