10-Q · May 29, 2026
MongoDB reported strong Q1 results, exceeding consensus with revenue of $687.6M and EPS of $1.32, propelled by a significant contribution from its Atlas offerings, which grew 29% year-over-year. Despite operational…
Earnings analysis · 10-Q
MDB earnings analysis
Filed September 1, 2026 · Our reading of the company's report
The latest report
MongoDB delivered a strong quarter based on the supplied earnings data, with revenue of $771.8 million and non-GAAP EPS of $1.90 beating consensus by $37.5 million and $0.60, respectively. Non-GAAP operating margin was…
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MongoDB delivered a strong quarter based on the supplied earnings data, with revenue of $771.8 million and non-GAAP EPS of $1.90 beating consensus by $37.5 million and $0.60, respectively. Non-GAAP operating margin was 24% and free cash flow was $137.6 million, while management raised fiscal 2027 revenue and non-GAAP EPS guidance. Offsetting concerns include Atlas usage concentration, unresolved securities litigation, a $1,866.5 million accumulated deficit, and expanding AI, cybersecurity and regulatory risks.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.9
- Operating margin
- 24%
What stood out
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Revenue materially exceeded consensus
Revenue was $771.8 million, exceeding the $734.2 million consensus estimate by $37.5 million, or approximately 5.1%.
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Large non-GAAP EPS beat
Non-GAAP EPS was $1.90 versus the $1.30 estimate, a $0.60 beat or approximately 46.2%.
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Margins and cash flow strengthened
Non-GAAP operating margin expanded to 24%, while free cash flow reached $137.6 million in the quarter.
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Strong liquidity position
Cash, cash equivalents, restricted cash and short-term investments totaled $2.4 billion as of July 31, 2026, providing substantial liquidity.
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Share repurchases continued
MongoDB repurchased 308,236 shares for an average price of $324.42 during the three months ended July 31, 2026; $399.7 million remained available under the program at quarter-end.
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Fiscal outlook raised
Management raised fiscal 2027 guidance to revenue of $2.99 billion-$3.03 billion and non-GAAP EPS of $6.39-$6.58, primarily reflecting stronger Atlas expectations.
What to watch
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Securities litigation remains unresolved
The Securities Action remains active: on May 1, 2026, the Court granted in part and denied in part the motion to dismiss, and the May 15, 2026 motion for reconsideration remains pending. The Company cannot estimate any reasonably possible loss or range of loss.
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High Atlas concentration and usage risk
MongoDB states that more than the majority of revenue is derived from Atlas, which is recognized primarily on a usage basis; customer usage variability limits revenue visibility and predictability.
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Sustained profitability remains uncertain
The Company reported $45.4 million of net income for the six months ended July 31, 2026, but had an accumulated deficit of $1,866.5 million and states that it expects to continue generating losses as costs increase.
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Private investment valuation exposure
Non-marketable securities increased to $37.1 million as of July 31, 2026 from $32.3 million as of January 31, 2026; the filing warns that fair-value changes or losses could materially affect results.
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AI governance and regulatory risk
The filing highlights heightened AI-related risks, including potentially unauthorized internal use of generative or agentic AI tools, disclosure of confidential information, inaccurate output and evolving regulation such as the EU AI Act, whose first provisions took effect on February 2, 2025.
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Potential insider-sale overhang
Three directors adopted Rule 10b5-1 trading plans during the quarter, including a plan covering up to 238,825 shares plus approximately $1.3 million of proceeds, potentially increasing share-sale overhang.
Management's outlook
The provided 10-Q excerpt does not include quantitative guidance or an MD&A outlook. Numeric fiscal 2027 guidance was disclosed in the September 1, 2026 earnings release/8-K: revenue of $2.99 billion-$3.03 billion and non-GAAP EPS of $6.39-$6.58.
Earlier filings 4
10-K · March 11, 2026
MongoDB reported strong performance in fiscal year 2026, with total revenue reaching $2.46 billion, a 23% increase year-over-year, driven by a significant expansion in its Atlas offerings, which constituted 73% of total…
10-Q · December 2, 2025
MongoDB, Inc. reported strong Q3 results, with revenue of $628.3 million, surpassing estimates of $592.6 million, and EPS of $1.32, dramatically exceeding expectations of $0.26. The performance reflects robust growth…
10-Q · August 27, 2025
MongoDB, Inc. reported strong Q2 results with revenue of $591.4 million, beating expectations of $552.6 million, and an impressive EPS of $1.00 compared to an estimate of $0.14, representing a significant positive…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.