NASDAQ$MDB
MongoDB Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
MongoDB's Q2 2023 financial results were announced, demonstrating strong growth in revenue and customer base.
MongoDB reported a strong second quarter with a 53% year-over-year increase in total revenue, reaching $303.7 million. MongoDB Atlas revenue grew by 73% year-over-year and now accounts for 64% of total revenue. The company also saw continued customer growth, with over 37,000 customers as of July 31, 2022.
- Total revenue reached $303.7 million, a 53% increase year-over-year.
- MongoDB Atlas revenue grew 73% year-over-year, representing 64% of total Q2 revenue.
- The company has over 37,000 customers as of July 31, 2022.
- A record number of net additions of direct sales customers was achieved.
Headline financials
Revenue & EPS history
MongoDB · Revenue · Quarterly
$304M
Revenue by segment
MongoDB · $304M total across 2 segments · Q2 2023
- Subscription$292M—96.0%
- Services$12.1M+62.9%4.0%
Forward guidance
MongoDB is issuing the following financial guidance for the third quarter and full year fiscal 2023. For the third quarter, revenue is expected to be between $300.0 million and $303.0 million, with a non-GAAP loss from operations between ($10.0) million and ($8.0) million, and a non-GAAP net loss per share between ($0.19) and ($0.16). For the full year, revenue is expected to be between $1,196.0 million and $1,206.0 million, with a non-GAAP loss from operations between ($13.0) million and ($8.0) million, and a non-GAAP net loss per share between ($0.35) and ($0.28).
Tailwinds
- Revenue for Q3 is projected to be between $300.0 million and $303.0 million.
- Full year revenue is projected to be between $1,196.0 million and $1,206.0 million.
- Continued product integration and alignment with hyperscale cloud vendors.
- MongoDB for Startups, now an exclusive offer in AWS Activate.
- MongoDB won the Google Cloud Technology Partner of the Year for Data Management.
Headwinds
- Non-GAAP loss from operations for Q3 is projected to be between ($10.0) million and ($8.0) million.
- Non-GAAP net loss per share for Q3 is projected to be between ($0.19) and ($0.16).
- Non-GAAP loss from operations for the full year is projected to be between ($13.0) million and ($8.0) million.
- Non-GAAP net loss per share for the full year is projected to be between ($0.35) and ($0.28).
- Fluctuations in MongoDB’s operating results may be particularly pronounced in the current economic environment due to the current volatility in the global economy and the continuing uncertainty caused by the ongoing COVID-19 pandemic.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
+4.1%
Avg return
Earnings day
+5.6%
Avg return
5 days after
+5.6%
Avg return
30 days after
68%
23 / 34 earnings
Positive
+37.7%
Q2 2026
Best reaction
-29.3%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2027 | — | — | — | |
| Q4 2026 | +5.8% | -16.8% | -22.1% | |
| Q3 2026 | +5.1% | +24.6% | +27.6% | |
| Q2 2026 | +37.7% | +47.2% | +48.6% | |
| Q1 2026 | +12.7% | +6.7% | +5.8% | |
| Q4 2025 | -26.9% | -25.9% | -41.5% | |
| Q3 2025 | -15.3% | -22.2% | -27.6% | |
| Q2 2025 | +23.5% | +20.3% | +14.5% | |
| Q1 2025 | -29.3% | -30.5% | -25.2% | |
| Q4 2024 | -6.4% | -10.0% | -11.4% | |
| Q3 2024 | -8.4% | -9.7% | -14.3% | |
| Q2 2024 | +4.6% | +5.0% | -7.9% | |
| Q1 2024 | +28.1% | +31.9% | +39.9% | |
| Q4 2023 | -6.3% | -9.8% | -3.5% | |
| Q3 2023 | +19.9% | +28.9% | +15.8% | |
| Q2 2023 | -27.1% | -26.0% | -40.0% | |
| Q1 2023 | +20.9% | +15.8% | +13.4% | |
| Q4 2022 | +19.3% | +13.0% | +53.0% | |
| Q3 2022 | +11.0% | +12.8% | -4.8% | |
| Q2 2022 | +29.0% | +24.5% | +20.6% | |
| Q1 2022 | +9.6% | +11.4% | +25.9% | |
| Q4 2021 | +2.6% | +11.5% | +3.4% | |
| Q3 2021 | -0.2% | +21.2% | +25.4% | |
| Q2 2021 | -11.5% | -14.4% | -6.5% | |
| Q1 2021 | -15.4% | -13.8% | -3.8% | |
| Q4 2020 | +6.8% | +21.8% | +55.6% | |
| Q3 2020 | -1.5% | -2.1% | +6.9% | |
| Q2 2020 | +0.3% | -12.4% | -12.5% | |
| Q1 2020 | +6.9% | +24.7% | +12.8% | |
| Q4 2019 | +24.8% | +31.6% | +36.2% | |
| Q3 2019 | +6.8% | -0.7% | -10.7% | |
| Q2 2019 | +6.8% | +13.1% | -1.2% | |
| Q1 2019 | +0.7% | +9.4% | +5.4% | |
| Q4 2018 | +3.0% | -0.6% | +1.8% | |
| Q3 2018 | +1.8% | +9.5% | +10.2% | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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