Categories AlphaGraphs, Technology

MongoDB (MDB) stock jumps as Q3 results beat Street view; lifts FY20 guidance

MongoDB Inc. (NASDAQ: MDB) Monday said its third-quarter loss widened, despite a 52% growth in revenues. The results, meanwhile, topped the Street view. The management provided guidance for the fourth quarter and raised fiscal-2020 revenue outlook, driving the stock up during the extended trading session.

MongoDB (MDB) stock jumps as Q3 results beat Street view

The company reported an adjusted loss of $0.26 per share for the October-quarter, compared to a loss of $0.13 per share last year. Analysts were looking for a wider loss. Net loss widened to $42.4 million or $0.75 per share from $22.5 million or $0.43 per share in the third quarter of 2019.

Revenue up 52%

There was a 52% growth in revenues to $109.4 million, which also came in above the market’s prediction. Subscription revenue climbed 56% year-over-year, while services revenue advanced 8%. MongoDB had more than 15,900 customers as of October 31, 2019. The results benefited from innovations in the data platform and sophisticated go-to-market efforts.

Related: Slack Technologies Q3 loss narrows on higher revenues

“MongoDB’s terrific third-quarter results are the latest example of how the powerful combination of our modern data platform and sophisticated go-to-market efforts are driving increased adoption by both new and existing customers,” said CEO Dev Ittycheria.

Outlook

For the fourth quarter of 2020, MongoDB expects revenues of $109-$111 million and adjusted loss per share in the range of $0.29 to 0.27. The company, meanwhile, revised up its fiscal 2020 revenue guidance to the range of $407.2 million to $409.2 million. Full-year loss per share is estimated to be between $1.04 and $1.02.

High Spending

MongoDB has been spending heavily on initiatives to ramp up the platform while expanding its sales and marketing footprint. The efforts have helped the company retain and grow its subscription base. There has been a steady growth in customer adoption in the proprietary cloud-based platform.

Also see: MongoDB Q2 2020 Earnings Conference Call Transcript

After reaching a fresh peak mid-year, MongoDB’s shares lost momentum and traded slightly above the $130-mark ahead of the quarterly report. The stock, which rose 45% in the past twelve months, gained sharply during Monday’s after-hours session, following the announcement.

Listen to publicly listed companies’ earnings conference calls along with the edited closed caption text

Most Popular

TGT Earnings: Key quarterly highlights from Target’s Q1 2024 financial results

Target Corporation (NYSE: TGT) reported its first quarter 2024 earnings results today. Total revenue decreased 3.1% year-over-year to $24.5 billion. Comparable sales declined 3.7%. Net earnings dipped 1% to $942

Important takeaways from AutoZone’s (AZO) Q3 2024 report

Automotive parts retailer AutoZone, Inc. (NYSE: AZO) reported mixed results for the third quarter of 2024, with earnings exceeding the market’s forecast and sales missing. The management is optimistic about

What to look for when Dollar General (DG) reports Q1 2024 earnings results

Shares of Dollar General Corporation (NYSE: DG) rose over 3% on Tuesday. The stock has dropped 31% over the past 12 months. The discount retailer is scheduled to report its first

Comments

  1. Pingback: fue
  2. Pingback: Admission Process
  3. Pingback: training
  4. Pingback: Pharmacy's Diploma
  5. Pingback: Finance degree
  6. Pingback: regional
  7. Pingback: fue contact
  8. Pingback: Luce lineare LED
  9. Pingback: Fiverr Earn
  10. Pingback: Fiverr Earn
  11. Pingback: Fiverr Earn
  12. Pingback: Fiverr Earn
  13. Pingback: fiverrearn.com
  14. Pingback: endopump buy
  15. Pingback: fiverrearn.com
  16. Pingback: clima
  17. Pingback: fiverrearn.com
  18. Pingback: fiverrearn.com
  19. Pingback: exotic bully
  20. Pingback: YouTube SEO
  21. Pingback: boat rental cancun
  22. Pingback: isla paddle board
  23. Pingback: french bulldog
  24. Pingback: sorority
  25. Pingback: swimsuit
  26. Pingback: Pure copper ring
  27. Pingback: future university
  28. Pingback: alpha necklace
  29. Pingback: frenchie puppies
  30. Pingback: Piano disposal
  31. Pingback: Piano relocation
  32. Pingback: FUE
  33. Pingback: Interstate moving
  34. Pingback: bali indonesia
  35. Pingback: Classic Books 500
  36. Pingback: FiverrEarn
  37. Pingback: FiverrEarn
  38. Pingback: FiverrEarn
  39. Pingback: FiverrEarn
  40. Pingback: FiverrEarn
  41. Pingback: FiverrEarn
  42. Pingback: Aussie Porn Stars
  43. Pingback: pupuk cair terbaik
  44. Pingback: partners
  45. Pingback: Political Science
  46. Pingback: bulldog frances
  47. Pingback: Betting
  48. Pingback: FiverrEarn
  49. Pingback: live sex cams
  50. Pingback: live sex cams
  51. Pingback: live sex cams
  52. Pingback: FiverrEarn
  53. Pingback: FiverrEarn
  54. Pingback: FiverrEarn
  55. Pingback: FiverrEarn
  56. Pingback: FiverrEarn
  57. Pingback: FiverrEarn
  58. Pingback: FiverrEarn
  59. Pingback: christmas
  60. Pingback: web design
  61. Pingback: Slot Gacor
  62. Pingback: Situs Slot Online
  63. Pingback: Kuliah Termurah
  64. Pingback: FiverrEarn
  65. Pingback: FiverrEarn
  66. Pingback: cheap sex cams
  67. Pingback: fullersears.com
  68. Pingback: live sex cams
  69. Pingback: freeze dried candy
  70. Pingback: rare breed-trigger
  71. Pingback: 늑대닷컴
  72. Pingback: Judi online
  73. Pingback: One Peace AMV
  74. Pingback: nangs sydney
  75. Pingback: superslot
  76. Pingback: allgame
  77. Pingback: 918kiss
  78. Pingback: หวย24
  79. Pingback: pg slot
  80. Pingback: catskills hotel
  81. Pingback: weight loss
  82. Pingback: sicarios madrid
  83. Pingback: itsMasum.Com
  84. Pingback: itsMasum.Com
  85. Pingback: Nangs delivery
  86. Pingback: nang tanks
  87. Pingback: read more
  88. Pingback: free chat online
  89. Pingback: chatib
  90. Pingback: talkwithstangers
  91. Pingback: paris jobs

Comments are closed.

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top