MongoDB has raised its targets for FY 2026, driven by the sustained performance of its Atlas cloud data platform. For Q3, which ended in late October, the group posted EPS of $1.32, well above the $0.81 expected by the consensus, while revenue rose by 19% to $628.3m. These stronger results sent the stock up almost 23% in premarket trading on Tuesday.
The group now expects a full-year EPS of between $4.76 and $4.80, versus a previous range of $3.64 to $3.73. Revenue is expected to between $2.43bn and $2.44bn, just above the FactSet consensus of $2.42bn. For the current quarter, MongoDB targets adjusted EPS of between $1.44 and $1.48 and revenue of between $665m and $670m, again above expectations.
Atlas, which now accounts for 75% of total revenue, posted 30% y-o-y growth and continues to drive the company's momentum. MongoDB now expects Atlas-related revenue to rise 27% in Q4, vs. the previously estimated mid-point. Separately, non-Atlas activity is progressing at a steady pace, with solid prospects for recurring revenue and multi-year contracts. The total number of customers surpassed 62,500 by the end of October, up from the prior quarter, confirming the upward trajectory of the user base.
The robust performance across MongoDB’s cloud infrastructure, particularly in its Atlas platform, underscores a broader industry shift toward scalable, developer-friendly database solutions in the era of AI and real-time data processing. Analysts note that the company’s ability to maintain high growth in a competitive landscape—where players like Amazon Web Services, Google Cloud, and Microsoft Azure dominate cloud infrastructure—demonstrates MongoDB’s unique value proposition: a flexible, document-based database that seamlessly integrates with modern application development workflows. With AI-driven applications demanding low-latency data access and elastic scalability, Atlas’s 30% y-o-y growth reflects not just customer adoption but strategic alignment with emerging technological trends. Furthermore, the company’s expanding customer base and increasing multi-year contract commitments suggest growing enterprise confidence in MongoDB’s long-term reliability and innovation pipeline, positioning the firm as a key enabler of digital transformation across sectors from fintech to healthcare and e-commerce.
