MongoDB CEO Dev Ittycheria
Adam Jeffery | CNBC
mongodb Share more than 20% after database software manufacturer Share weak guidance This marks a slowdown in growth.
The company said it expects adjusted earnings between $2.44 and $2.62 and revenues of $2.24 billion to $2.28 in fiscal 2026. Analysts expect revenue per share of $334 and $2.32 billion.
The weak guidance stems from the slow growth of the company’s ATLAS-based cloud-based database services. The revenue forecast means 12.7% growth, the slowest time the company has returned to its 2017 stock market debut.
Finance chief Srdjan Tanjga said on a revenue call that the company is growing slowly in new applications, leveraging its Atlas Cloud-based database service. However, MongoDB is stepping up recruitment and closing deals with big companies.
In the first quarter, MongoDB predicted adjusted earnings per share of $524 million to $529 million, with revenue of 63 cents to 67 cents. Analysts voted by LSEG expect earnings per share of 62 cents and revenue of $526.8 million.
Wells Fargo analyst Andrew Nowinski cited weak outlook and slowing growth for Mongodb to lower the stock to the same weight and lower its target target.
“With a smaller library of years of trading, we think it’s hard to exceed expectations in FY26, so the stock is expected to remain range-limited,” he wrote.
Read more Nowinski’s Analyze here.
MongoDB’s outlook offsets the fourth quarter earnings that exceeded expectations. The company reported earnings per share of $1.28, excluding commodities, and revenue of $548 million. Analysts voted by LSEG expect earnings per share of 66 cents and sales of $520 million. Revenues increased by 20% from a year ago.
MongoDB received 1,900 customers in the quarter, reflecting 54,500 customers.
– Jordan Novet of CNBC contributed the report.
