MongoDB Inc (NASDAQ:MDB) reported first quarter results that topped Wall Street expectations on both revenue and earnings, while also raising its full-year guidance, citing continued strength in its Atlas cloud database business.
Total revenue for the quarter came in at $687.6 million, up 25% year-over-year and ahead of consensus estimates of about $664.5 million. Subscription revenue totaled $666.1 million, also up 25%, while services revenue rose 22% to $21.5 million.
Growth was again led by MongoDB Atlas, the company’s cloud database platform, which increased more than 29% year-over-year and remains the primary driver of overall performance. Enterprise Advanced and other revenue grew more than 13% from a year earlier.
On the bottom line, MongoDB reported adjusted earnings per share of $1.32, exceeding analyst expectations of $1.19 and compared with $1 in the same period last year.
MongoDB also reported strong growth in remaining performance obligations (RPO), which rose 88% year-over-year to $1.46 billion. Current RPO increased 69% to $766.3 million, reflecting continued demand visibility.
Cash generation strengthened during the quarter, with operating cash flow of $201.6 million and free cash flow of $197.5 million, up from $105.9 million in the prior-year period.
The company ended the quarter with $2.4 billion in cash, cash equivalents, short-term investments and restricted cash.
"We delivered better-than-expected first quarter results, as our go-to-market teams continue to execute well and capitalize on strong end-market demand for the MongoDB platform across enterprise use cases and emerging AI opportunities,” MongoDB CEO CJ Desai said in a statement.
“At the same time, we continue to show strong profitability, demonstrating we can drive durable revenue growth while simultaneously expanding margin.”
Looking ahead, MongoDB raised its full-year fiscal 2027 guidance. The company now expects revenue of $2.92 billion to $2.96 billion.
On a non-GAAP basis, operating income is projected to be between $571 million and $591 million, with non-GAAP earnings per share expected in the range of $5.95 to $6.14.
Despite the strong report, shares of MongoDB edged 2.5% lower.