Q1 2026 MongoDB Inc Earnings Call Transcript
Key Points
- MongoDB Inc (MDB) reported a 22% year-over-year increase in revenue, reaching $549 million, surpassing the high end of their guidance.
- Atlas revenue grew 26% year over year, now representing 72% of total revenue, indicating strong adoption of their cloud-based platform.
- The company achieved a non-GAAP operating income of $87 million, resulting in a 16% non-GAAP operating margin, which is an improvement from the previous year.
- MongoDB Inc (MDB) added approximately 2,600 new customers in the quarter, bringing the total customer count to over 57,100, the highest net additions in over six years.
- The company announced a significant expansion of their share repurchase program, authorizing up to an additional $800 million, reflecting confidence in their long-term potential.
- Despite strong results, MongoDB Inc (MDB) noted some softness in Atlas consumption in April due to macroeconomic volatility, although it rebounded in May.
- The non-Atlas business is expected to decline in the high single digits for the year, with a $50 million headwind from multiyear license revenue anticipated in the second half.
- Gross margin slightly declined to 74% from 75% in the previous year, primarily due to Atlas growing as a percentage of the overall business and the impact of the Voyage acquisition.
- The company experienced slower than planned headcount additions, which could impact future growth and operational capacity.
- MongoDB Inc (MDB) remains cautious about the uncertain macroeconomic environment, which could affect future consumption trends and overall business performance.
Good day, and thank you for standing by. Welcome to the MongoDB's Q1 FY26 earnings conference call. (Operator Instructions) Please be advised that today's conference is being recorded. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Brian Denyeau from ICR.
Thank you, Josh. Good afternoon, and thank you for joining us today to review MongoDB's first-quarter fiscal 2026 financial results, which we announced in our press release issued after the close of the market today. Joining me on the call today are Dev Ittycheria, President and CEO of MongoDB; and Mike Berry, CFO of MongoDB.
During this call, we will make forward-looking statements, including statements related to our market and future growth opportunities, our opportunity to win new business, our expectations regarding Atlas consumption growth, the impact of non-Atlas business and multiyear license revenue, the long-term opportunity of AI, the opportunity of application modernization, our expectations
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
