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published in Blogs
Sep 02, 2022
MongoDB (MDB, $241.11) posts narrower-than-expected loss

MongoDB (MDB, $241.11) posts narrower-than-expected loss

MongoDB reported second-quarter fiscal 2023 adjusted loss of -23 cents per share, beating the Zacks Consensus Estimate by 20.69%. The loss, however, is wider than the year-ago quarter’s -12 cents per share.

The database company’s revenues surged +52.8% year over year to $303.7 million, exceeding surpassing the consensus expectations by 8.38%.

Subscription revenues ( 96% of revenues) grew 52.4% year over year to  $291.6 million, while  Services revenues climbed +63.6% year over year to $12.1 million  (4% to revenues).

MongoDB added 1,800 customers during the quarter, bringing the total to 37,000 as of quarter-end.

Atlas revenues surged +73% year over year (and is 64% to total revenues). Atlas added 1,800 customers during the quarter, to more than 35,500 customers as of quarter-end.

MongoDB’s gross margin expanded +100 basis points  year-over-year basis to 73.5%.

For third-quarter fiscal 2023, MongoDB expects non-GAAP net loss between -16 cents and -19 cents per share. It predicts revenues of $300 million to $303 million.

For full fiscal year 2023, MongoDB projects non-GAAP net loss in the range of -28 cents and -35 cents per share. It expects revenues range of  $1.196 billion to $1.206 billion.

 

 

Related Tickers: MDB