MongoDB beats Q2 estimates, raises FY2027 outlook; shares fall 12% after hours

Proactive | Wed, September 2, 2026 at 6:05 AM PDT | 2 min read

MDB — MongoDB Inc (NASDAQ: MDB) reported stronger-than-expected second-quarter fiscal 2027 results on Tuesday, with revenue and adjusted earnings exceeding analyst estimates as the database software company continued to expand its cloud business.

Q2 Financial Highlights

• Revenue: $771.8 million, up 30% from $591.0 million a year earlier, above estimates ranging from $733.6 million to $735 million
• Subscription revenue: $747.1 million, up 31%
• Services revenue: $24.6 million, up 29%
• Non-GAAP net income: $162.6 million, or $1.90 per diluted share, compared with $87.2 million, or $1.00 per share, in the year-ago period (exceeded analyst estimates of approximately $1.60 to $1.62 per share)
• GAAP net income: $40.9 million, or $0.50 per share, compared with a net loss of $47 million, or $0.58 per share, a year earlier
• Gross profit: $569.8 million, representing a 74% gross margin, compared with a 71% margin in the prior-year quarter
• Non-GAAP operating income: $185.9 million, up from $86.8 million; non-GAAP operating margin increased to 24% from 15%

Key Operational Metrics

• Remaining performance obligations: Increased 91% year over year to $1.52 billion
• Current remaining performance obligations: Rose 73% to $797.3 million
• Operating cash flow: $141.9 million, compared with $72.1 million a year earlier
• Free cash flow: $137.6 million, compared with $69.9 million a year earlier

Segment Performance

MongoDB highlighted growth across its Atlas and Enterprise Advanced (EA) offerings:

• Atlas revenue: Increased approximately 29% year over year
• EA and other revenue: Rose approximately 36% year over year

Management Commentary

"We delivered strong second quarter results, highlighted by 30% year-over-year revenue growth—the highest level of growth in several years—and continued strong profitability."

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"This performance reflects the mission-critical role our platform plays for customers, with strength driven by core enterprise workloads and early momentum with AI use cases."

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— CJ Desai, CEO, MongoDB

Outlook

Third Quarter Fiscal 2027

• Revenue: $756 million to $761 million
• Non-GAAP earnings: $1.57 to $1.61 per share

Full-Year Fiscal 2027 (Raised)

• Revenue: $2.99 billion to $3.03 billion
• Non-GAAP earnings: $6.39 to $6.58 per share

Market Reaction

Despite the quarterly results and higher full-year guidance, MongoDB shares fell more than 12% in after-hours trading. The decline appears to reflect investor concerns about the company's near-term outlook, particularly the third-quarter revenue forecast, which implies a sequential decline from the second quarter's $771.8 million.