MongoDB's Atlas platform driving revenue growth through strong adoption, with competition from Amazon and Couchbase.

In the first quarter of fiscal 2026, MongoDB’s Atlas platform saw strong adoption, with customers like CSX and LG Uplus utilizing it for real-time operations and AI capabilities. Total revenues were $549 million, up 22% year over year, with Atlas revenues growing 26%. MongoDB expects Atlas to continue driving long-term growth, with subscription revenues being a key focus.

MongoDB faces competition from Amazon’s DynamoDB and Couchbase in the cloud database market. DynamoDB added multi-region strong consistency to its Global Tables, enhancing reliability for apps, while Couchbase launched a new version supporting AI agent workflows with Memory-First Computing Platform for real-time systems.

MDB shares have underperformed in the YTD period, with a 8.7% loss. From a valuation perspective, MongoDB stock trades at a forward Price/Sales ratio of 6.89X, with a Value Score of F. The Zacks Consensus Estimate for second-quarter fiscal 2026 earnings is 64 cents per share.

MongoDB is rated a Zacks Rank #2 (Buy), with a positive outlook. To support future growth, MongoDB is expanding efforts in application modernization and AI, recently acquiring Voyage AI. The company is focused on enhancing developer training, certifications, and self-serve tools to drive greater Atlas adoption.

Read more at Nasdaq: What Makes Atlas the Core Driver of MongoDB’s Revenue Growth?