MongoDB, Inc. (MDB), a company that provides a general-purpose database platform worldwide, has escalated 17.91% in aftermarket trading session. As a result, MDB stock is trading at $506.25 at the time of the writing. The increase could be attributed to the announcement of quarterly results. On Monday, MDB closed the day at $429.34 after slumping 4.63% during the mid-day session.
MDB Q3 20222 Operational Results
In the late hours of Monday, MDB released the operational results for the third quarter of the fiscal year 2022. The quarter ended on 31st October 2021. The company generated total revenue of $226.8 million during the quarter against $150.7 million for the same quarter of fiscal 2021. The total operating expenses bore by the company during the three months were $235.1 million against $162.7 million for the same period of fiscal 2021. The net loss suffered by the company during the period was $81.2 million (or $1.22 per basic and diluted share) against $72.6 million (or $1.22 per basic and diluted share) for the same period of fiscal 2021.
Financial Guidance for Q4 2022
Alongside the operational results, MDB also released the financial guidance for the upcoming quarter. The company estimated the net revenue to stand between the range of $239 million to $242 million during the fourth quarter of fiscal 2022. The non-GAAP loss from operations is estimated to stand between $13 million to $11 million during the three months. In the case of non-GAAP net loss per share, the company estimated it to stand between $0.24 and $0.21 during the three months.
Executive Commentary
Dev Ittycheria, President and Chief Executive Officer of MDB, while commenting on the results said that the company has delivered another fantastic quarter which is highlighted by the 84% atlas revenue growth as well as from the increase in customer count. He believed that a key driver for the success of the company is the increasing number of customers choosing the company as an enterprise standard for their future application development.
Future Outlook for MDB
During the last three months, MDB stock has surged more than 30%. Analysts believe that the stock is in a good shape to bring on further enhanced performances in years to come. Hence, potential investors should keep a close eye on the performance of MDB stock.