Key Takeaways:
- Revenue hit $687.6M, up 25% YoY and $23.8M above consensus.
- Atlas cloud revenue grew 29%, now representing 75% of total revenue.
- MongoDB raised FY2027 revenue guidance to $2.92B-$2.96B.
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MongoDB beats Q1 estimates, raises FY2027 guidance above $2.9B
MongoDB reported Q1 revenue of $687.6M, beating estimates by $23.8M, and raised its full-year guidance above $2.9B.
"Atlas consumption growth and early AI workload adoption are driving durable demand across our customer base," CEO CJ Desai said.
Revenue rose 25% from $549M a year earlier, while adjusted EPS climbed 32% from $1.00. Atlas cloud database revenue grew 29% year over year and now represents 75% of total company revenue, up from 72% in the prior quarter. Free cash flow reached $197.5M, up 82% from $108.5M a year earlier. Remaining performance obligations jumped 88% to $1.47B, and current RPO rose 69% to $766.3M.
For the second quarter, MongoDB guided revenue of $729M to $734M, above the $710M analysts had modeled. The company raised its full-year fiscal 2027 revenue forecast to $2.92B to $2.96B, up from a prior range of $2.86B to $2.90B. Full-year adjusted EPS guidance was lifted to $5.75 to $5.93 from $5.75 to $5.93 previously.
Shares initially fell 17% in after-hours trading before reversing course to trade 26% higher, reflecting confusion over the magnitude of the beat relative to MongoDB's history of larger upside surprises. The stock had rallied 56% over the past year entering the print.
The guidance raise signals management expects Atlas momentum and AI-related workloads to sustain through the year. Investors will watch the Q2 earnings call for updates on the chief revenue officer search and further detail on AI workload contribution to Atlas consumption.
This article is for informational purposes only and does not constitute investment advice.
