MongoDB Reports Strong Q3 Results

Investing.com — MongoDB (NASDAQ:MDB) Inc on Monday reported a better-than-expected quarterly profit and revenue. Shares of the database software maker jumped 11% to $388 in aftermarket trading.

Revenue for the third quarter ended Oct. 31 rose 22% to $529.4 million, topping analysts' expectations of $497.65 million, while non-GAAP earnings per share came in at $1.16, comfortably beating estimates of 67 cents.

> “MongoDB's third quarter results were significantly ahead of expectations on the top and bottom line, driven by better-than-expected EA performance and 26% Atlas (NYSE:ATCO) revenue growth,” said Chief Executive Officer, Dev Ittycheria.

> “We continue to see success winning new business due to the superiority of MongoDB's developer data platform in addressing a wide variety of mission-critical use cases.”

For fiscal 2025, MongoDB expects revenue between $1.973 billion and $1.977 billion, with non-GAAP earnings per share in the range of $3.01 to $3.03.

The company also announced that Chief Operating Officer and Chief Financial Officer Michael Gordon will step down at the end of January, transitioning to an advisory role to ensure a smooth handover.

MongoDB has started the search for a new CFO and will consider both internal and external candidates. If a successor is not named by Feb. 1, Serge Tanjga, senior vice president of finance, will take over as interim CFO.