MongoDB Inc (NASDAQ:MDB) shares surged more than 32% as the document database reported strong second quarter earnings and raised its full year revenue and profit guidance, driven by demand for its Atlas cloud database service.
For Q2, revenue grew 24% from the year-ago quarter to $591.4 million, ahead of estimates of $580.1 million.
Sales of MongoDB Atlas grew 29% year-over-year to account for 74% of total revenue, above expectations of 26% growth.
Adjusted earnings per share (EPS) of $1 were significantly higher than the expected $0.66.
The company added over 5,000 new customers year-to-date, the highest ever for the first half of a year.
"These results reflect the strength of MongoDB's platform – our flexible document model, expanded database capabilities like search and vector search, enterprise-grade security, durability, availability, performance, and the ability to run anywhere,” MongoDB CEO Dev Ittycheria said in a statement.
For fiscal 2026, MongoDB raised its sales guidance by $70 million, now expecting revenue in the range of $2.34 billion to $2.36 billion. This is above Street estimates of $2.31 billion.
It now expects EPS in the range of $3.64 to $3.73, up from the prior guidance of $2.94 to $3.12, and ahead of the consensus $3.17.
Wedbush analysts repeated their ‘Outperform’ rating on the stock and $300 price target post-earnings.
“MongoDB reported its fiscal Q2 2026 earnings featuring major beats across the board while raising its fiscal year 2026 guidance as the company looks to continue improving Atlas platform consumption despite the difficult macro backdrop,” they wrote.
“This was another strong quarter from MDB as Atlas consumption metrics continue to improve while taking up a larger portion of its pipeline with the company in a stronger position to capitalize moving forward.”