MongoDB plunges on weak Q1 guidance, despite fourth-quarter earnings beat
MongoDB is down more than 27% in premarket trading Tuesday, extending its sharp after-hours decline yesterday, after the database software company forecast lower-than-expected Q1 earnings and full-year revenue.
The company actually beat estimates for the fourth quarter (ended January 31), in which revenue rose 27% year on year to $695.1 million, and adjusted earnings came in at $1.65 per share — ahead of Wall Street estimates of $670 million and $1.48 per share, respectively. In the earnings release, CEO CJ Desai said results were driven by “continued go-to-market execution and the broad-based demand we are seeing across our product lines.”
Yet the company’s outlook for Q1 has disappointed investors, with adjusted earnings per share of $1.15 to $1.19 below analyst estimates of $1.20. Its revenue forecast, meanwhile, sits at $659 million to $664 million, the midpoint of which fell below the $662 million that had been penciled in. Full-year revenue guidance of $2.86 billion to $2.9 billion also fell slightly below consensus estimates, though EPS guidance of $5.75 to $5.93 came in ahead of the $5.69 forecast.
Alongside its earnings report, MongoDB announced a leadership overhaul, including the departure of its president of field operations, Cedric Pech, and its chief revenue officer, Paul Capombassis. The company also announced the appointment of Erica Volini as the new chief customer officer.
MongoDB’s “NoSQL database” is considered a more flexible, modern format than traditional table-based databases, allowing developers to store data more easily. But with fears growing that established software companies may lose their edge to rising agentic AI, MongoDB’s shares had already fallen roughly 23% this year before this morning’s slide — and are now down about 44% year to date.
Alongside its earnings report, MongoDB announced a leadership overhaul, including the departure of its president of field operations, Cedric Pech, and its chief revenue officer, Paul Capombassis. The company also announced the appointment of Erica Volini as the new chief customer officer.
MongoDB’s “NoSQL database” is considered a more flexible, modern format than traditional table-based databases, allowing developers to store data more easily. But with fears growing that established software companies may lose their edge to rising agentic AI, MongoDB’s shares had already fallen roughly 23% this year before this morning’s slide — and are now down about 44% year to date.
