MongoDB Inc. easily cleared expectations with its latest results and outlook, but shares of the database company were declining 5% in Tuesday’s extended session.
The database-management company posted a fiscal third-quarter net loss of $29.3 million, or 41 cents a share, compared with a net loss of $84.9 million, or $1.23 a share, in the year-prior quarter. On an adjusted basis, MongoDB
MDB,
posted earnings per share of 96 cents, while analysts were expecting 51 cents a share.
MongoDB’s revenue came in at $433 million, up 30% from a year before, while the FactSet consensus was for $406 million.
“MongoDB has clearly established itself as an indispensable part of the tech stack of any organization focused on building durable competitive differentiation through software development,” Chief Executive Dev Ittycheria said in a release. He noted that the company was having success “in winning new workloads from both new and existing customers across verticals, geographies and customer segments.”
For the fiscal fourth quarter, MongoDB anticipates $429 million to $433 million in revenue, along with 44 cents to 46 cents in adjusted EPS. The FactSet consensus was for $418 million in revenue and 37 cents in adjusted EPS.
