MongoDB (MDB) investor relations material

Executive summary

• Total revenue for Q2 FY27 reached $771.8 million, up 30% year-over-year, marking the highest quarterly growth in several years, driven by strong Atlas and Enterprise Advanced demand.

• Atlas revenue grew 29% year-over-year, accounting for 73–74% of total revenue, with continued expansion among large enterprises and AI-native customers.

• Net income was $40.9 million ($0.50/share), a turnaround from a net loss of $47.0 million ($0.58/share) a year ago; non-GAAP net income was $162.6 million ($1.90/share), up from $87.2 million ($1.00/share) YoY.

• Customer base expanded to over 70,600, with nearly 3,000 customers generating $100,000+ in ARR, and record net new additions driven by AI workloads.

• Raised full-year FY27 guidance, citing robust Atlas performance, enterprise workloads, and early AI use cases.

Financial highlights

• Subscription revenue was $747.1 million (+31% YoY); services revenue was $24.6 million (+29% YoY).

• Gross profit was $569.8 million (74% gross margin), with non-GAAP gross profit at $585.7 million (76% margin); overall gross margin improved from 71% YoY.

• Non-GAAP operating margin was 24%, up from 15% a year ago; GAAP operating income was $28.4 million, compared to a loss of $65.3 million YoY.

• Operating cash flow was $142 million, free cash flow $137.6–$138 million, both nearly doubling year-over-year.

• Cash, cash equivalents, and short-term investments totaled $2.4 billion as of July 31, 2026.

Outlook and guidance

• Full-year FY27 revenue guidance raised to $2.99–$3.03 billion (21–23% growth), with non-GAAP operating margin targeted at 21%.

• Atlas growth expected at 26% in Q3 and 27% for the full year, up 300 basis points from prior guidance.

• Non-GAAP net income per share expected at $6.39–$6.58 for the year.

• Q3 FY27 revenue expected between $756M–$761M; non-GAAP income from operations $152M–$156M; non-GAAP EPS $1.57–$1.61.

• EA and other revenue guidance raised to 11% growth for fiscal 2027, first double-digit growth in three years.