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As revenue growth accelerates, MongoDB’s share will skyrocket

Dev Ittycheria, CEO of MongoDB

Adam Jeffrey | CNBC

Database software maker share MongoDB Monday’s extended trading rose 18% after the third quarter earnings announcement.

The company’s way is as follows.

  • Revenue: According to Refinitiv, analysts expected an adjusted loss per share of 11 cents per share, while a loss per share was 38 cents.
  • Revenue: According to Refinitiv, it’s $ 226.9 million, compared to what analysts expected at $ 205.2 million.

Revenues for the quarter ending October 31 increased by 50% year-on-year, but increased 44% in the previous quarter, according to the statement. Revenue from the company’s Atlas cloud database service increased 84% compared to an 83% increase in the previous quarter.

However, the company’s total net loss increased from $ 72.7 million in the year-ago quarter to $ 81.3 million, with sales and marketing costs more than half of its quarterly revenue.Competitors include top cloud providers such as: Amazon When Microsoft, And existing companies with databases such as IBM When Oracle..

MongoDB has raised guidance for the entire 2022 fiscal year. Currently, adjusted net losses per share range from $ 846.3 million to $ 849.3 million, from 74 cents to 71 cents, compared to $ 805 million to $ 811 million, from $ 1.20. We expect to lose $ 1.13. Analysts expected a loss of $ 1.13 per share and a return of $ 813 million.

In a conference call with analysts, MongoDB Operations and Finance Officer Michael Gordon said travel and other operating costs were lower than the company expected as Covid’s pandemic continued throughout the quarter. ..

Coinbase DevIttycheria, CEO of MongoDB, says he is migrating more workloads to the Atlas service. “There were some pretty unique requirements in terms of performance and scale,” he said to the cryptocurrency exchange operator.

This is breaking news. Please check for updates.

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As revenue growth accelerates, MongoDB’s share will skyrocket

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