MongoDB (MDB) Citi’s 2026 Global TMT Conference summary

Business performance and growth

• Achieved over 30% total revenue growth, marking the highest acceleration in years and strong operating margins.

• Durable growth is supported by improved bookings, customer adds, and net retention rates, with 2,900 new customers added, the highest ever.

• Most new customers are adopting the cloud-based Atlas platform, with 99% of recent additions on Atlas.

• Revenue acceleration is expected to continue, with profitability also increasing.

• Customer growth is driven by referrals from Cloud Code and Codex, acting as a top-of-funnel for Atlas upsell.

Market trends and customer adoption

• Enterprises are increasingly standardizing on modern databases for unstructured data and multi-cloud environments.

• Public sector and international demand, especially in Europe and Asia-Pacific, is rising, with notable traction in India and the UK.

• AI-native companies and labs are adopting the platform as they scale, often migrating from other databases due to performance and scalability needs.

• Tech and cybersecurity sectors are leading in customer-facing agent adoption, with retail and financial services expected to follow.

• Customer-facing AI agent use cases are ramping fastest in labs and tech, while regulated industries like banking are slower to adopt.

Product innovation and competitive advantages

• The document model, JSON-native architecture, and agility are key differentiators, enabling rapid development for AI workloads.

• Scale-out architecture and the ability to run across multiple hyperscalers provide operational flexibility and redundancy.

• Integrated vector search, text search, and new auto-embeddings enhance AI capabilities and are expected to be tailwinds for enterprise adoption.

• Fully managed MCP functionality for Cloud Code, Codex, and Grok Build was launched, increasing Atlas traffic and developer engagement.

• Partnerships with companies like Cognition and Vercel are supporting modernization and migration initiatives.