Stock jumps on revenue beat, strong guidance

MongoDB Shares rose 15% in after-hours trading Monday after the company reported a strong third quarter earning It beat Wall Street estimates and issued a strong forecast.

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

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

“These results reflect the power of the MongoDB platform – our flexible document model, expanded database capabilities such as search and vector search, enterprise-level security, durability, usability, performance and the ability to work anywhere,” former CEO Dev Ittycheria said in a statement. he said.

Former cloud flare Executive Chirantan “CJ” Desai replaced Ittycheria, who led MongoDB for 11 years, in November.

The company expects fourth-quarter revenue to reach between $665 million and $670 million.

MongoDB raised its full-year 2026 forecast to a range of $2.434 billion to $2.439 billion, compared to its previous forecast of $2.34 billion to $2.36 billion. Analysts polled by FactSet expected $2.36 billion.