Mongodb Shares Sink After Company Issues Weak Guidance

Mongodb Shares Sank 16% in Extended Trading on Wednsday after the Database Software Maker Issued Disappointing Guidance.

Here’s how the company did in Comparison with Lseg Consensus:

• Earnings per share: $ 1.28 adjusted vs. 66 cents Expected
• Revenue: $ 548.4 Million vs. $ 519.6 Million Expected

Revenue Increased about 20% from a year ago in the Quarter that ended on Jan. 31, according to a statementThe company generated $ 15.8 million in net income, or 19 cents per share, which factors in stock-based compensation. In the same Quarter a year ago, Mongodb has registered a net loss of $ 55.5 million, or 77 cents per share.

Mongodb Added 1,900 customers in the Quarter, Bringing The Total to 54,500. But the company ended the Quarter with About $ 360 Million in Deferred Revenue, Below the Streetaccount Consensus of $ 370.4 Million.

Mongodb is seeing Slower Growth Than It Hoped for In New Applications Using Its Atlas Cloud-Based Database Service, Srdjan Tanjga, Monongodb’s Interim Finance CHIF, SAIDB’s Interim Finance Chafe, Said on a conference on a conference analysts. Meanwhile, mongodb is hiring rapidly to pursue more deals with large number companies, while pulling back on mid-sized businesses, tanjga said.

DURING The Quarter, Mongodb Acquired Artificial Intelligence Startup Voyage For an undisclosed sum.

“We want to capitalize on an once-in-a-generation options,” Ceo dev ittycheria said.

For the fiscal first quarter, Mongodb Called for 63 Kents to 67 Cents in Adjusted Earnings Per Share on $ 524 Million to $ 529 Million in Revenue. Analysts surveyed by lseg had expected 62 cents of per-share earnings and revenue of $ 526.8 Million.

Mongodb said it expects adjusted earnings per share of $ 2.44 to $ 2.62 and Revenue of $ 2.24 billion to $ 2.24 billion to $ 2.28 billion for Fiscal 2026. Rate at Least Since the company went public in 2017. Analysts Were Analysts $ 3.34 per share of earnings and $ 2.32 billion in Revenue.

Prior to Wednsday’s after-Hourrs Move, Mongodb Shares WERE Up 13%, While The S & P 500 was down about 1%.

Watch: Mongodb Shares Fall more than 10% as non-Gross Margins Come in Lighter-Than-Expected