MongoDB Q4 results: ‘we’re confident in our ability to deliver strong growth’

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MongoDB Inc (NASDAQ: MDB) shares are up 10% after-hours on market-beating results for its fiscal Q4 and upbeat guidance for the future.

Key takeaways from MongoDB Q4 results

Lost $84.4 million in the fourth quarter that translates to $1.26 per share.
In the same quarter of last year, its loss was capped at $75.8 million or $1.25 per share.
Per-share loss on an adjusted basis stood at 9 cents, as per the earnings press release.
Revenue jumped from last year’s $171 million to $266.5 million in Q4.
FactSet consensus was for 22 cents of adjusted per-share loss on $243.4 million in revenue.
Atlas revenue was up 85%, making up 58% total quarterly revenue.
Ended the quarter with more than 33,000 customers.

The earnings report comes a month after Oracle announced Oracle Database API for MongoDB.

MongoDB guidance and CEO’s remarks

For Q1, MongoDB forecasts its per-share loss to fall between 12 cents and 8 cents. It expects up to $267 million in revenue. In comparison, analysts were at 17 cents of per-share loss and $253.6 million in revenue this quarter.

The database company’s full-year guidance for 51 cents to 29 cents of per-share loss on $1.15 billion to $1.18 billion in revenue was also ahead of experts’ forecast. In the earnings press release, CEO Dev Ittycheria said:

We enter fiscal 2023 having established MongoDB as the leading application data platform. Our strong growth in six and seven figure customers is evidence that customers view MongoDB as a strategic platform. We’re confident in our ability to capitalise on our $70B+ market opportunity and deliver strong growth for the foreseeable future.

The stock is still down roughly 35% for the year.

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