MongoDB reported a total revenue of $549 million for the first quarter of fiscal 2026, reflecting a 22% year-over-year increase. The company’s MDB Atlas platform, which accounted for 72% of total revenues, generated a 26% growth year-over-year. The customer base for Atlas expanded to over 55,800, up from 47,700 a year prior.
MongoDB has raised its revenue guidance for fiscal 2026 to between $2.25 billion and $2.29 billion, driven by optimism surrounding Atlas’s growth. The Zacks Consensus Estimate for second-quarter fiscal 2026 earnings is set at 64 cents per share, indicating an 8.57% decline compared to the previous year.
Despite strong performance, MDB’s shares have dropped 8.7% year-to-date, underperforming both the Zacks Internet – Software industry and the Computer and Technology sector. The company faces competition from Amazon’s DynamoDB and Couchbase, which are expanding their offerings in the cloud database market.
