MongoDB posted a clean beat across every major metric in its fiscal first quarter, and Wall Street noticed.
The stock closed up 11% at $325.68 on Thursday before adding another 4% in pre-market trading Friday. After bottoming on April 10, MDB has now gained 44%, though it remains down 22% in 2026.
Q1 revenue came in at $687.6 million, up 25.2% year over year and above the $664.5 million analyst estimate. Adjusted EPS of $1.32 cleared the $1.19 consensus. Adjusted operating profit hit $123.2 million against expectations of $108.9 million.
$MDB Q1’27 EARNINGS HIGHLIGHTS
Revenue: $687.6M (Est. $667.9M)
; +25% YoY
FY Guide:
— Wall St Engine (@wallstengine) May 28, 2026
Free cash flow was a standout — $197.5 million versus the $125.4 million consensus. That’s not a rounding error.
Atlas, MongoDB’s multi-cloud database service, was the main engine. Revenue from Atlas grew 29.4% year over year to $512.5 million, a slight acceleration from 29.2% the prior quarter. Enterprise Advanced subscriptions also surprised to the upside, coming in at $153.7 million against a $144.9 million estimate.
The company ended the quarter with 2,895 customers generating over $100,000 in annual recurring revenue, up from 2,506 a year ago.
For Q2, MongoDB guided revenue of $729 million to $734 million. The midpoint of $731.5 million sits well above the $700.6 million consensus. Adjusted EPS guidance of $1.58–$1.61 also topped the $1.30 estimate.
Full-year fiscal 2027 revenue guidance was lifted to $2.92–$2.96 billion from $2.86–$2.90 billion. Full-year adjusted EPS guidance of $5.95–$6.14 beat the $5.88 consensus.
CEO CJ Desai credited strong go-to-market execution and “end-market demand across enterprise use cases and emerging AI opportunities.”
Not everyone was ready to pop the champagne. After hours, the stock initially surged more than 20% before giving most of that back. Morgan Stanley pointed to management comments suggesting Atlas growth is “more likely to sustain rather than accelerate” as the reason for the pullback.
Barclays, with an Overweight rating and $370 target, called results “very solid” but noted Atlas growth “did not accelerate meaningfully” compared to peers Datadog and Snowflake.
Morgan Stanley raised its price target to $380 from $335, keeping its Overweight rating. It noted the full-year revenue outlook rose roughly $60 million — more than the Q1 beat and Q2 raise combined — and called an AI-driven growth inflection “a matter of when not if.”
Desai addressed AI directly: “We are seeing real and growing momentum from AI and agentic workloads, and believe MongoDB is purposeful to be a generational data platform for the agentic era.”
CFO Mike Berry added that the company does “not expect large swings versus guidance for the current quarter.”
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