Database challenger MongoDB this afternoon reported fiscal Q3 revenue that easily topped analysts’ expectations, and a smaller-than-expected net loss, and an outlook for revenue and net loss this quarter that was better as well.
The report sent MongoDB shares up 16% in late trading.
CEO and president Dev Ittycheria called the results “another fantastic quarter,” one that was “highlighted by 84% Atlas revenue growth and increasing our customer count to over 31,000.”
Added Ittycheria, “Our continued success reflects the adoption of our application data platform by customers who need to innovate faster to compete in today’s marketplace.
“We believe a key driver of our success has been the early, but growing, trend of customers choosing MongoDB as an enterprise standard for their future application development.
“Our success across industries and a wide variety of use cases puts us in a great position to build even deeper relationships with our customers over time.”
Revenue in the three months ended in October rose 50%, year over year, to $227 million, yielding a net loss of 11 cents a share, excluding some costs.
Analysts had been modeling $205.3 million and negative 38 cents per share.
Also: MongoDB shares rise on fiscal Q4 revenue, EPS that top expectations, revenue forecast higher as well
For the current quarter, the company sees revenue of $239 million to $242 million, and a net loss in a range of 21 cents to 24 cents. That compares to consensus for $227.8 million and a 34-cent loss per share.
For the full fiscal year 2023, the company sees revenue in a range of $846.3 million to $849.3 million, and a net loss per share of 74 cents to 79 cents a share. That compares to consensus of $813.9 billion and a $1.10 loss per share.
