MongoDB (MDB, Financial) is off to a fast start in fiscal 2026—and investors might want to take a closer look. The company reported $549 million in Q1 revenue, up 22% from last year, with its cloud product, Atlas, growing 26% and now making up 72% of total sales. Management added 2,600 new customers, marking the biggest quarterly gain in six years. The share is up 14.2% at 12.09pm today. CEO Dev Ittycheria pointed to strong traction from both enterprises and startups as AI workloads and modern app development continue to drive demand for flexible, cloud-native databases.
Behind the scenes, MongoDB is becoming a cash machine. The company more than doubled non-GAAP operating income to $87.4 million and posted $105.9 million in free cash flow—up 74% year-over-year. With $2.5 billion in cash and short-term investments on hand, it just authorized another $800 million in share repurchases, taking its total buyback program to $1 billion. That kind of financial firepower could give MongoDB more room to support long-term growth while returning capital to shareholders.
On the AI front, MongoDB isn't just playing defense. It rolled out new retrieval models—Voyage 3.5 and 3.5 Lite—that improve accuracy and efficiency for building AI-powered apps. It also debuted its Model Context Protocol Server, which connects MongoDB to tools like GitHub Copilot and Anthropic's Claude, letting developers use natural language to interact with their data. With FY2026 revenue guidance raised up to $2.29 billion and full-year non-GAAP EPS projected to hit as high as $3.12, MongoDB could be shaping up as a quiet leader in the AI infrastructure race.
