MongoDB Shares Gain On Narrower Q1 Loss, FY26 Outlook Revision, $800 Mln Buyback

MongoDB

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(RTTNews) - Shares of MongoDB, Inc. gained around 15 percent in the extended trading on Wednesday, and is currently 16 percent higher in the pre-market activity on the Nasdaq, after the database software company lifted its fiscal 2026 outlook after reporting narrower net loss in its first quarter with higher revenues. The company also issued second -quarter outlook and announced a share buyback program for additional $800 million.

Dev Ittycheria, President and Chief Executive Officer of MongoDB, said, "MongoDB is off to a strong start in fiscal 2026 with 26 percent Atlas revenue growth, meaningful margin outperformance, and the highest total net customer additions in six years. .. Looking ahead, we see an incredible opportunity for customers to take advantage of MongoDB's modern architecture... We are confident in our position to drive profitable growth as we benefit from this next wave of application development."

Regarding the share repurchase program, the company said it may repurchase up to an additional $800 million of common stock. This is in addition to the $200 million buyback announced last quarter, bringing the total authorization to $1 billion.

For the second quarter, MongoDB expects adjusted net income of $0.62 to $0.66 per share on revenues of $548.0 million to $553.0 million.

The Wall Street analysts on average expect the company to report earnings of $0.65 per share on sales of $549.68 million. Analysts' estimates typically exclude special items.

For fiscal 2025, the company now expects adjusted net income of $2.94 to $3.12 on revenues of $2.250 billion to $2.290 billion. MongoDB previously expected adjusted earnings to range between $2.44 to $2.62 per share and revenue of $2.24 billion to $2.28 billion.

Analysts expect earnings of $3.07 per share on sales of $2.27 billion for the year.

In its first quarter, net loss was $37.63 million or $0.46 per share, narrower than prior year's net loss of $80.59 million or $1.10 per share.

Adjusted net income was $86.3 million or $1.00 per share, compared to adjusted net loss of $42.7 million or $0.51 per share in the year-ago period.

Total revenue increased 22 percent to $549.01 million from $450.56 million a year ago. Subscription revenue was $531.5 million, an increase of 22 percent year-over-year, and services revenue grew 28 percent to $17.5 million.

In pre-market activity on the Nasdaq, MongoDB shares are currently trading at $231.10, up 15.7 percent.

On the after-hours trading on Wednesday, the shares had gained 14.6 percent following the news, after closing the day's regular trading 3.1 percent higher at $199.73.

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