MongoDB Inc (NASDAQ:MDB) shares surged 15.8% on Thursday after the company delivered better-than-expected first-quarter results and raised its full-year guidance.
Revenue for the fiscal first quarter rose 22% year over year to $549 million, beating analysts’ expectations of $528.1 million.
Subscription revenue accounted for $531.5 million, while services revenue grew 28% to $17.5 million.
Revenue from the company’s cloud database platform, Atlas, climbed 26% and now makes up 72% of total revenue.
Profitability also improved sharply. Non-GAAP operating income more than doubled to $87.4 million from $32.8 million a year earlier. Non-GAAP earnings per share came in at $1, reversing a loss of $0.51. Free cash flow grew to $105.9 million from $61 million. The company reported $2.5 billion in cash on hand.
MongoDB raised its fiscal 2026 guidance, projecting revenue between $2.25 billion and $2.29 billion and EPS between $2.94 and $3.12—both ahead of consensus estimates.
Wedbush praised the results as “major beats across the board,” noting the company’s ability to drive consumption of its Atlas platform while navigating a tough macro environment.
“MongoDB is finding its AI mojo,” the firm wrote, pointing to the recent acquisition of Voyage AI and a record-high level of new customer additions.