Stock jumps on revenue beat, strong guidance

MongoDB Shares rose 15% on Monday after the company announced third-quarter earnings that topped Wall Street estimates and issued a strong forecast.

The database software maker reported revenue of $628 million, up 19% year over year, above the $592 million expected by LSEG analysts.

The company’s adjusted earnings per share of $1.32 also beat Wall Street’s estimate of 80 cents a share.

CEO Chirantan “CJ” Desai told CNBC’s John Forte on Monday that the company saw “significant growth” in its large enterprise segment during the third quarter due to rising demand in the US, Europe, the Middle East and Africa.

“In addition, our self-service business delivered exceptional results,” Desai said. “We had a lot of customers, including digital natives, AI natives, and developers from all over the world who are building on MongoDB.”

Desai in November replaced former CEO Dev Itticherry, who led MongoDB for 11 years.

The company reported a net loss of $2.01 million during the quarter, a loss of 2 cents per share. A year earlier, the company reported a net loss of $9.78 million, a loss of 13 cents per share.

Adjustments were made to earnings for expenses related to stock-based compensation, amortization of intangible assets and income taxes.

The company said it 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, compared with its prior guidance of $2.34 billion to $2.36 billion. Analysts polled by FactSet had expected $2.36 billion.