MongoDB (MDB) Reports Earnings Tomorrow. What To Expect

Kayode Omotosho /
2022/12/05 4:46 am EST

Database software company MongoDB (MDB) will be reporting results tomorrow after market close. Here's what investors should know.

Last quarter MongoDB reported revenues of $303.6 million, up 52.7% year on year, beating analyst revenue expectations by 7.56%. It was a solid quarter for the company, with exceptional revenue growth and an impressive beat of analyst estimates. The company added 83 enterprise customers paying more than $100,000 annually to a total of 1,462.

Is MongoDB buy or sell heading into the earnings? Read our full analysis here, it's free.

This quarter analysts are expecting MongoDB's revenue to grow 34.3% year on year to $304.7 million, slowing down from the 50.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted loss is expected to come in at -$0.17 per share.

MongoDB Total Revenue

Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company has a history of exceeding Wall St's expectations, beating revenue estimates every single time over the past two years on average by 8.36%.

Looking at MongoDB's peers in the data storage segment, some of them have already reported Q3 earnings results, giving us a hint of what we can expect. DigitalOcean delivered top-line growth of 36.5% year on year, beating analyst estimates by 2.81% and Snowflake reported revenues up 66.5% year on year, exceeding estimates by 3.36%. DigitalOcean traded up 3.83% on the results, Snowflake was down 11.90%. Read our full analysis of DigitalOcean's results here and Snowflake's results here.

There has been positive sentiment among investors in the data storage segment, with the stocks up on average 14.1% over the last month. MongoDB is up 14% during the same time, and is heading into the earnings with analyst price target of $304.30, compared to share price of $161.80.

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The author has no position in any of the stocks mentioned.