MongoDB posted its quarterly earnings results, that surpassed analysts’ expectations.
The database software company’s earnings came in at $0.20 per share for the quarter, beating the consensus estimate of loss of ($1.34), MarketWatch Earnings reports.
Revenue for the quarter climbed +57.1% year over year to $285.45 million in the quarter, well above analysts’ expectations of $267.10 million.
MongoDB’s subscription revenues (accounting for 96.2% of total revenues) surged +57.3% year over year, while services revenues were up + 53.5% year over year.
Looking ahead, MongoDB projects revenues between $279 million and $282 million for second-quarter fiscal 2023. Adverse macro-economic environment is expected to hurt revenues in the range of $4-$5 million. The company anticipates non-GAAP net loss in the range of -31 cents and -28 cents per share.
For full fiscal -year 2023, MongoDB now projects revenues in the range of $1.172 billion and $1.192 billion (vs. prior guidance range of $1.151-$1.181 billion). Adverse macro-economic condition is expected to hurt revenues in the range of $30-$35 million. It expects non-GAAP net loss in the range of -31 cents to -16 cents per share.