MongoDB’s Q3 Revenue Outperforms Analysts Expectations

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.

IT World Canada Staff
IT World Canada Staff
The online resource for Canadian Information Technology professionals.

Would you recommend this article?


Thanks for taking the time to let us know what you think of this article!
We'd love to hear your opinion about this or any other story you read in our publication.

Jim Love, Chief Content Officer, IT World Canada

Featured Download

ITW in your inbox

Our experienced team of journalists and bloggers bring you engaging in-depth interviews, videos and content targeted to IT professionals and line-of-business executives.

More Best of The Web