MongoDB Q2 FY2027 earnings beat but stock falls on Atlas growth

MongoDB Q2 FY2027 earnings beat but stock falls on Atlas growth

Wed, September 2, 2026 at 3:26 PM GMT+3 2 min read

• MDB +2.41%

MongoDB reported fiscal second-quarter revenue of $771.8 million, up 30% from a year earlier, and raised its full-year guidance on Tuesday — but MongoDB stock dropped in after-hours trading as Atlas revenue growth failed to accelerate.

The company posted adjusted earnings of $1.90 per share for the quarter ended July 31. Analyst expectations had been $735 million in revenue and $1.62 per share in adjusted earnings, according to Barron's. MongoDB stock was down 14% at $373.13 in Wednesday premarket trading, having ended the regular Tuesday session 4.2% lower at $434.21.

Atlas, MongoDB's cloud database service, grew revenue 29% year over year — a figure that has not budged across the past three fiscal quarters. According to Barron's, Mizuho Securities analyst Jordan Klein noted that major hedge funds had privately penciled in Atlas revenue growth of 30.5% to 31%, and that the stock's 21.3% run-up over the prior month had left it vulnerable to any shortfall.

"We delivered strong second quarter results, highlighted by 30% year-over-year revenue growth — the highest level of growth in several years — and continued strong profitability," Chief Executive Officer CJ Desai said in a statement.

On the profitability front, results were strong across the board. Non-GAAP operating margin reached 24%, up from 15% a year ago, the company said. Free cash flow nearly doubled year over year to $137.6 million. MongoDB also reported its third consecutive quarter of GAAP net income, posting $40.9 million, or $0.50 per diluted share, compared with a net loss of $47 million in the year-ago period.

For full-year fiscal 2027, MongoDB lifted its revenue outlook to $2.99 billion–$3.03 billion from a previous range of $2.92 billion–$2.96 billion, the company said. Its adjusted earnings per share target also moved higher, to $6.39–$6.58 from the prior forecast of $5.95–$6.14. For the fiscal third quarter, MongoDB guided for revenue of $756 million to $761 million and adjusted earnings of $1.57 to $1.61 per share.

MongoDB's customer base grew to more than 70,600 as of July 31, up from roughly 59,900 a year earlier. The number of customers with at least $100,000 in annualized recurring revenue rose to 2,999 from 2,564 a year ago. Remaining performance obligations climbed 91% year over year to $1.52 billion.