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published in Blogs
Mar 10, 2022
MongoDB (MDB, $329.53) posts narrower-than-expected loss for fiscal Q4

MongoDB (MDB, $329.53) posts narrower-than-expected loss for fiscal Q4

MongoDB Inc. posted fiscal fourth-quarter results this week that handily surpassed analysts’ expectations.

The database company incurred a  loss (before certain costs such as stock compensation) of -9 cents per share – narrower than analysts’ expectation of -22 cent a share. Revenue grew +56% from the year ago quarter to $266.5 million, vs. analysts’ expectation of $243.4 million.

“Our strong growth in six- and seven-figure customers is evidence that customers increasingly view MongoDB as a strategic platform,” the CEO Dev Ittycheria said. “We are confident in our ability to capitalize on our $70 billion market opportunity and deliver strong growth for the foreseeable future.”

MongoDB Atlas reported that it saw 85% revenue growth, exceeding $1 billion in annualized revenue for the first time, on the back of its partnerships with cloud infrastructure providers such as Amazon Web Services and Google Cloud. It experienced growth of 80% in deals sourced by its cloud partners.

For the next quarter, the company has projected a loss of between -8 and -12 cents per share, compared to analysts’ expectation of a loss of -17 cents  a share.  The company forecasts revenue of $263 million to $267 million, vs. analysts’ prediction of $253.6 million.