MongoDB shares rose 15% in after-hours trading on Monday after the company announced strong third-quarter earnings that topped Wall Street estimates and issued a strong forecast.
The database software maker reported a revenue of $628 million, which was up 19% year over year, blowing past the $592 million expected by LSEG analysts.
The company’s adjusted earnings per share of $1.32 also beat Wall Street’s projections of 80 cents per share.
CEO Chirantan “CJ” Desai told CNBC’s Jon Fortt on Monday that the company saw “significant growth” in its large enterprise segment during the third quarter, driven by rising demand in the Americas, Europe, the Middle East and Africa.
“In addition, our self-service business delivered exceptional results,” Desai said. “We had many, many customers, including digital natives, AI natives, and developers around the world who are building on MongoDB.”
Desai succeeded former CEO Dev Ittycheria, who led MongoDB for 11 years, in November.
Non-GAAP net income was $114.5 million, or $1.32 per share, based on 86.9 million fully diluted weighted-average shares outstanding. This compares to a non-GAAP net loss of $98.1 million, or $1.16, per share in the year-ago period.
The company expects fourth-quarter revenue to reach between $665 million and $670 million.
MongoDB raised its full-year 2026 guidance to a range of $2.434 billion to $2.439 billion vs its prior guidance of $2.34 billion to $2.36 billion. Analysts polled by FactSet expected $2.36 billion.
MongoDB year-to-date stock chart.