Mongo DB Shares rose 15% in after-hours trading Monday after the company reported third-quarter profit that beat Wall Street expectations and issued a strong outlook.
The database software maker reported revenue of $628 million, up 19% year-over-year, and significantly beating LSEG analysts’ expectations of $592 million.
The company’s adjusted earnings per share were $1.32, beating Wall Street’s expectations by 80 cents per share.
Chief Executive Officer Chirantan “CJ” Desai told CNBC’s John Fort on Monday that the company’s large enterprise division experienced “significant growth” in the third quarter due to increased demand in the Americas, Europe, the Middle East and Africa.
“Additionally, our self-service business has delivered exceptional results,” Desai said. “We had a huge number of customers, including digital natives, AI natives, and developers from all over the world who were building on MongoDB.”
Desai replaced former CEO Dev Ittycheria, who led MongoDB for 11 years, in November.
The company reported a net loss of $2.01 million, or 2 cents per share, in the quarter. A year ago, the company reported a net loss of $9.78 million, or 13 cents per share.
Adjustments to earnings were made for expenses related to stock-based compensation, amortization of intangible assets and income taxes.
The company said it expects fourth-quarter sales to reach between $665 million and $670 million.
MongoDB has raised its full-year 2026 guidance to a range of $2.434 billion to $2.439 billion, up from its previous outlook of $2.34 billion to $2.36 billion. Analysts polled by FactSet had expected $2.36 billion.
MongoDB stock price chart year-to-date.
