MongoDB reported first-quarter fiscal 2027 revenue of $687.6 million. This result represents a 25.2% year-over-year increase. Adjusted earnings per share of $1.32 surpassed analyst expectations.
The Atlas cloud database platform drove growth as revenues climbed 29%. Strong demand for core workloads and emerging AI applications fueled this performance.
MongoDB raised its financial outlook for the upcoming quarter and the full fiscal year. Barclays, Guggenheim, and Wedbush raised their price targets following the report.
MongoDB shares fell during trading on May 29 despite the positive results. Market analysis suggests the decline followed guidance implying a future growth deceleration for the Atlas platform.