MongoDB Q3 Earnings Beat Expectations, Raises FY25 Outlook Amid CFO Departure

Dec 9, 2024, 09:11 PM

MongoDB Inc. reported its third quarter fiscal 2025 financial results, surpassing analysts' expectations on both revenue and earnings per share (EPS). The company's total revenue reached $529.4 million, marking a 22% increase year-over-year, with subscription revenue growing by the same percentage to $512.2 million, and services revenue increasing by 18% to $17.2 million. Adjusted EPS was $1.16, significantly higher than the consensus estimate of $0.69. MongoDB also provided forward-looking guidance, expecting Q4 revenue to be between $515 million and $519 million, with adjusted EPS projected at $0.62 to $0.65. For the full fiscal year 2025, MongoDB raised its EPS guidance to $3.01 to $3.03 from an earlier estimate of $2.33 to $2.47, with revenue expected to reach $1.973 billion to $1.977 billion. The company's stock rose 11% in after-hours trading following the announcement. MongoDB cited better-than-expected Enterprise Agreement (EA) performance and a 26% growth in Atlas revenue as key drivers for the strong results. However, the company also reported a GAAP net loss of $9.8 million for the quarter, and the CFO announced their departure.