From CNBC: 2024-05-30 18:04:24

MongoDB stock plunged 26% after issuing a light guidance and reducing full-year forecast. Fiscal first-quarter revenue reached $450.6 million, 22% YoY growth but slowed from 57% two years ago. Net loss was $80.6 million. FY forecast cut to $1.88-$1.90 billion, 12% growth.

CEO Dev Ittycheria mentioned a slower start affecting Atlas consumption growth and new workload wins. Macro conditions impacted results. Despite falling short, MongoDB isn’t losing share to competitors. Salesforce also reported shrinking deals. MongoDB shares dropped 24% this year, underperforming the S&P 500.



Read more at CNBC:: MongoDB (MDB) Q1 earnings report 2025