MongoDB Inc. (NASDAQ:MDB) jumped 30.40% in pre-market trading on Wednesday.
Check out the current price of MDB stock here.
Strong Atlas Revenue Growth Drives 24% Year-Over-Year Total Revenue Increase
According to Benzinga Pro data, after reporting second-quarter results that exceeded analyst expectations and prompted the company to raise full-year guidance, the database software company surged to $279.50 in the early trading session.
MDB posted total revenue of $591.4 million, up 24% year-over-year, with MongoDB Atlas revenue accelerating 29% and representing 74% of quarterly revenue.
Customer Growth Reaches Record Pace Amid AI Adoption
MongoDB also added 2,800 customers during the quarter, bringing total customers to over 59,900 as of July 31. The company added over 5,000 customers year-to-date, marking the highest first-half customer additions in company history.
CEO Dev Ittycheria highlighted the company’s continued momentum in the earnings release, saying, “These results reflect the strength of MongoDB’s platform and our flexible document model. Many of our recently added customers are building AI applications, underscoring how our value proposition is resonating in the AI era.”
Profitability Metrics Show Significant Improvement
Non-Generally Accepted Accounting Principles (GAAP) net income reached $87.2 million or $1.00 per share, compared to a non-GAAP net loss of $59.0 million in the prior year period. The New York-based scalable platform has free cash flow turned positive at $69.9 million versus negative $4.0 million year-over-year.
The company raised full-year fiscal 2026 revenue guidance to $2.34-$2.36 billion and non-GAAP earnings per share to $3.64-$3.73.
Jim Cramer Links MongoDB Success to Palantir Potential
Television host Jim Cramer commented on MongoDB’s strong performance in a Tuesday X post, emphasizing the significance of the earnings beat. “Bears didn’t see Mongo coming!” Cramer wrote, highlighting the database company’s unexpected strength and solid execution.
MDB has traded between $140.94 and $370.00 over the past year. The company is currently valued at $17.51 billion in market capitalization, with an average daily trading volume of 2.28 million shares.
Benzinga’s Edge Stock Rankings indicate that MDB has a positive price trend across all time frames. Know how its momentum lines up with other well-known names.
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Photo: T Schneider / Shutterstock
