MongoDB The stock fell as much as 26% in prolonged trading Thursday after the database software maker issued cautious guidance for the quarter and lowered its forecast for the total fiscal 12 months.
Here’s how the corporate performed in comparison with the LSEG consensus:
- Earnings per share: 51 cents adjusted in comparison with 40 cents expected
- Revenue: $450.6 million in comparison with expected $439.7 million
MongoDB’s revenue rose 22% year-over-year in the primary quarter of its fiscal 12 months ended April 30, in response to a opinionGrowth slowed for the third quarter in a row. Two years ago it was 57%.
The company reported a net lack of $80.6 million, or $1.10 per share, in comparison with a net lack of $54.2 million, or 77 cents per share, within the year-ago quarter.
In terms of guidance, the corporate expected second-quarter adjusted earnings of 46 cents to 49 cents per share and revenue of $460.0 million to $464.0 million. Analysts surveyed by LSEG expected adjusted earnings per share of 58 cents and revenue of $470.4 million.
MongoDB has lowered its forecast for fiscal 12 months 2025. It now calls for adjusted earnings per share of $2.15 to $2.30 and revenue of $1.88 billion to $1.90 billion, representing growth of 12%. Three months ago, the forecast was for adjusted earnings per share of $2.27 to $2.49 and revenue of $1.90 billion to $1.93 billion. Analysts had predicted adjusted earnings per share of $2.50 on revenue of $1.93 billion.
“We had a slower than expected start to the year in both Atlas consumption growth and new workload wins, which will have a detrimental impact for the remainder of fiscal year 2025,” Dev Ittycheria, president and CEO of MongoDB, was quoted as saying within the statement. Atlas, MongoDB's cloud-based database service, now accounts for 70% of total revenue.
In a conference call with analysts, Ittycheria said macroeconomic conditions factored into the outcomes and the corporate was unable to atone for recent business, but it surely just isn’t losing market share to competitors. He said the forecast doesn’t reflect MongoDB's long-term potential.
The comments got here a day later Foreclosure reported that deals were declining and taking longer to shut.
Before the after-hours move, MongoDB shares had fallen 24 percent this 12 months, lagging the S&P 500 index, which has gained about 10 percent over the identical period.
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