MongoDB The company’s shares fell as much as 25% in after-hours trading on Thursday after the database software maker gave a weaker quarterly outlook and lowered its full-year outlook.
Here’s how the company performed compared to the LSEG consensus:
- Earnings per share: Adjusted: 51 cents, expected: 40 cents
- Revenue: $450.6 million (prediction: $439.7 million)
MongoDB said its revenue grew 22% year over year in the first quarter of its fiscal year that ended April 30. statementGrowth has slowed for three straight quarters, from 57% two years ago.
The company reported a net loss of $80.6 million, or $1.10 per share, down from a net loss of $54.2 million, or 77 cents per share, a year ago.
In terms of guidance, the company expects second-quarter adjusted earnings per share of 46 cents to 49 cents on revenue of $460 million to $464 million. Analysts surveyed by LSEG were expecting adjusted earnings per share of 58 cents on revenue of $470.4 million.
MongoDB lowered its fiscal 2025 forecast to now see adjusted earnings per share of $2.15 to $2.30 and revenue of $1.88 billion to $1.9 billion. Three months ago, the company expected adjusted earnings per share of $2.27 to $2.49 and revenue of $1.90 billion to $1.93 billion. Analysts were expecting adjusted earnings per share of $2.50 and revenue of $1.93 billion.
“We are off to a slower than expected start this year in both Atlas consumption growth and new workload acquisitions, which will have an impact through the remainder of fiscal 2025,” Dev Iticheria, president and CEO of MongoDB, said in a statement. MongoDB’s cloud-based database service, Atlas, now accounts for 70% of total revenue.
Iticheria said on a conference call with analysts that macroeconomic conditions were affecting performance and that the company had not been able to catch up with new business, but that it was not losing market share to competitors.
The comment came the next day. Salesforce He noted that deals are shrinking and taking longer to complete.
As of after-hours trading, MongoDB shares had fallen 24% this year, underperforming the S&P 500 index, which has risen about 10% in the same period.
This is breaking news, please check back for updates.
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