Stock jumps on revenue beat, strong guidance

MongoDB Shares rose 15% in after-hours trading Monday after the company reported its third quarter Profits Which topped Wall Street estimates and issued strong forecasts.

The database software maker reported revenue of $628 million, up 19% year over year, topping the $592 million that LSEG analysts had expected.

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

CEO Chirantan “CJ” Desai told CNBC’s John Forte on Monday that the company saw “significant growth” in the large enterprise segment during the third quarter, driven by higher demand in the Americas and Europe, the Middle East and Africa.

“In addition, our self-service business has achieved exceptional results,” Desai said. “We had many, many customers, including digital natives, AI, and developers around the world building on MongoDB.”

Desai succeeds the previous CEO Dave Iticheriawho has led MongoDB for 11 years, in November.

The company reported a net loss of $2.01 million during the quarter, a loss of 2 cents per share. A year ago, the company reported a net loss of $9.78 million, a loss of 13 cents per share.

Adjustments were made to earnings to cover expenses related to stock-based compensation, amortization of intangible assets and income taxes.

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

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