Earnings

MongoDB shares sink 23% after management trims guidance

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MongoDB CEO Dev Ittycheria.
Scott Mlyn | CNBC

MongoDB stock sank as much as 25% in extended trading on Thursday after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year.

Here is how the company did, compared to the LSEG consensus:

  • Earnings per share: 51 cents adjusted vs. 40 cents expected
  • Revenue: $450.6 million vs. $439.7 million expected

MongoDB’s revenue grew 22% year over year in the fiscal first quarter, which ended on April 30, according to a statement. Growth slowed for the third consecutive quarter. It was 57% two years ago.

Concerning guidance, the company called for adjusted fiscal second-quarter earnings of 46 cents to 49 cents per share, with $460.0 million to $464.0 million in revenue. Analysts surveyed by LSEG were looking for 58 cents in adjusted earnings per share and $470.4 million in revenue.

MongoDB trimmed its 2025 fiscal-year forecast, which now stands at $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. Three months ago, the forecast was adjusted earnings per share of $2.27 to $2.49 and revenue of $1.90 billion to $1.93 billion. Analysts had predicted $2.50 in adjusted earnings per share on $1.93 billion in revenue.

“We had a slower than expected start to the year for both Atlas consumption growth and new workload wins, which will have a downstream impact for the remainder of fiscal 2025,” MongoDB’s president and CEO Dev Ittycheria was quoted as saying in the statement. Atlas is MongoDB’s cloud-based database service.

The comments came a day after Salesforce indicated that it was seeing deals shrink and take longer to close.

Before the after-hours move, MongoDB shares were down 24% this year, trailing the S&P 500 index, which has gained about 10% during the same period.

Executives will discuss the results with analysts on a conference call starting at 5 p.m. ET.

This is breaking news. Please check back for updates.

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