MongoDB (MDB) Shares Soar 10% on Q4 Beat and Better Than Expected Outlook

MongoDB (NASDAQ: MDB) shares were trading more than 10% higher after-hours following the company’s reported strong Q4 results, with EPS of ($0.09) coming in better than the consensus estimate of ($0.22).

Revenue grew 56% year-over-year to $266.5 million, compared to the consensus estimate of $241.76 million. Subscription revenue rose 58% year-over-year to $258.2 million, and services revenue rose 17% year-over-year to $8.3 million.

According to Dev Ittycheria, President and CEO of MongoDB, the company’s exceptional quarterly results were highlighted by 85% Atlas revenue growth and surpassing $1 billion in annualized revenue.

The company expects Q1/23 EPS in the range of ($0.12)-($0.08), compared to the consensus of ($0.17), and revenue in the range of $263-267 million, compared to the consensus of $253 million.

For the full 2023-year, the company expects EPS of ($0.51)-($0.29), compared to the consensus of ($0.60), and revenue of $1.151-1.181 billion, compared to the consensus of $1.15 billion.

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