Database software company MongoDB (MDB) will be reporting earnings tomorrow after the bell. Here’s what investors should know.
MongoDB beat analysts’ revenue expectations by 6.4% last quarter, reporting revenues of $529.4 million, up 22.3% year on year. It was a very strong quarter for the company, with a solid beat of analysts’ billings estimates and EPS guidance for next quarter exceeding analysts’ expectations. It added 125 enterprise customers paying more than $100,000 annually to reach a total of 2,314.
Is MongoDB a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting MongoDB’s revenue to grow 13.3% year on year to $519.1 million, slowing from the 26.8% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.67 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MongoDB has missed Wall Street’s revenue estimates three times over the last two years.
Looking at MongoDB’s peers in the data storage segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Snowflake delivered year-on-year revenue growth of 27.4%, beating analysts’ expectations by 3%, and Commvault Systems reported revenues up 21.1%, topping estimates by 6.9%. Snowflake traded up 4.6% following the results while Commvault Systems was down 7.5%.
Read our full analysis of Snowflake’s results here and Commvault Systems’s results here.
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