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MongoDB Inc. (MDB) Posts Third-Quarter Fiscal 2022 Results: Revenue Surpasses Market Forecasts; Shares Gain Pre-Market

Tuesday, December 07, 2021 08:20 AM | Carl Pettit

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MongoDB Inc. (MDB) Posts Third-Quarter Fiscal 2022 Results: Revenue Surpasses Market Forecasts; Shares Gain Pre-Market

On Dec. 6, software database firm MongoDB Inc. (MDB) posted its third-quarter fiscal 2022 results. The company, based out of NYC, reported revenue that surpassed market forecasts. Pre-market today, MDB stock soared 21.11% in value.

Better Than Expected Third-Quarter Fiscal 2022 Revenue

For its third quarter, MongoDB reported $226.9 million in revenue (an increase of 50% year-over-year), which beat prior market estimates of around $203.5 million.

Net Loss

The company said it had a net loss of “$81.3 million, or $1.22 per share.” Non-GAAP net loss came in at $7.2 million or $0.11 per share, compared to $18.2 million or $0.31 per share for the same period last year.

CEO Comments

“We believe a key driver of our success has been the early, but growing, trend of customers choosing MongoDB as an enterprise standard for their future application development,” CEO Dev Ittycheria remarked. “Our success across industries and a wide variety of use cases puts us in a great position to build even deeper relationships with our customers over time.”

Forecast

MongoDB also issued guidance for its fourth quarter, as well as for the full-year fiscal 2022:

  • Fourth-quarter fiscal 2022: $239.0 million to $242.0 million
  • Full-year fiscal 2022: $846.3 million to $849.3 million

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