MongoDB (MDB) Q1 2026 earnings summary

Executive summary

• Revenue reached $549 million in Q1 FY2026, up 22% year-over-year, with Atlas revenue growing 26% and representing 72% of total revenue.

• Customer count surpassed 57,100, with net adds at a six-year high, driven by strong self-serve growth.

• Non-GAAP operating income was $87 million (16% margin); non-GAAP net income was $86 million ($1/share), while GAAP net loss narrowed to $37.6 million ($0.46/share).

• Share repurchase program expanded by $800 million to $1 billion; no shares repurchased in Q1 due to CFO transition.

• Completed the $160.9 million acquisition of Voyage AI to enhance AI capabilities.

Financial highlights

• Subscription revenue was $531.5 million (+22% YoY); services revenue was $17.6 million (+28% YoY).

• Gross profit was $407 million (non-GAAP, 74% margin) and $391 million (GAAP, 71% margin), both down YoY.

• Operating cash flow was $110 million; free cash flow was $106 million, both up significantly YoY.

• Customers with at least $100,000 in ARR grew 17% YoY to 2,506.

• Stock-based compensation expense was $132.4 million for the quarter.

Outlook and guidance

• FY2026 revenue guidance raised to $2.25–$2.29 billion; non-GAAP operating income guidance raised to $267–$287 million.

• FY2026 non-GAAP net income per share expected at $2.94–$3.12.

• Q2 revenue expected at $548–$553 million; non-GAAP operating income at $55–$59 million.

• Operating margin guidance for FY2026 increased to 12% at midpoint.

• Management expects macroeconomic headwinds to impact Atlas application growth rates in the short term.