MongoDB (MDB) Reports Earnings Tomorrow. What To Expect

Petr Huřťák /
2023/12/04 2:01 am EST

Database software company MongoDB (MDB) will be reporting earnings tomorrow after market close. Here's what you need to know.

Last quarter MongoDB reported revenues of $423.8 million, up 39.6% year on year, beating analyst revenue expectations by 8.4%. It was a very strong quarter for the company, with an impressive beat of analysts' revenue estimates and optimistic revenue guidance for the next quarter. The company added 94 enterprise customers paying more than $100,000 annually to a total of 1,855.

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 21.1% year on year to $404 million, slowing down from the 47% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 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 8.2%.

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. Snowflake delivered top-line growth of 31.8% year on year, beating analyst estimates by 2.9% and Commvault Systems reported revenues up 6.9% year on year, exceeding estimates by 3%. Snowflake traded up 6.6% on the results, and Commvault Systems was up 0.3%.

Read our full analysis of Snowflake's results here and Commvault Systems's results here.

There has been positive sentiment among investors in the data storage segment, with the stocks up on average 14.3% over the last month. MongoDB is up 31.8% during the same time, and is heading into the earnings with analyst price target of $435, compared to share price of $438.

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