Database software company MongoDB recently released its third-quarter revenue figures, which beat analysts’ expectations thanks to Atlas’ revenue growth.
In the third quarter that ended in October, the company’s revenue rose to $227 million (a 50% year-over-year jump). The company also posted a smaller than expected net loss of 11 cents per share excluding some costs.
Analysts had expected revenue of about $205.3 million and a net loss of 38 cents per share. CEO and President Dev Ittycheria said of the company’s third-quarter performance: “We believe a key driver of our success has been the early but growing trend of customers choosing MongoDB as an enterprise standard for their future application development.”
For the fourth quarter, the company forecast revenue of between $239 million and $242 million with a net loss of between 21 and 24 cents per share. However, analysts forecast revenue of $227.8 million and a net loss of 34 cents per share. For fiscal 2022, the company’s projected revenue will fall between $846.3 million and $849.3 million and a net loss per share of between 74 and 79 cents. Analysts forecast revenue of $813.9 billion to $849.3 million for fiscal 2022 with a net loss of $1.10 per share.