MongoDB CEO Dave Itcheria.
Scott Milin | CNBC
MongoDB The stock fell as much as 26% in extended trading Thursday after the database software maker issued light guidance for the quarter and lowered its outlook for the full fiscal year.
Here's what the company did, compared to the LSEG consensus:
Earnings per share: 51 cents adjusted vs. 40 cents expected Revenue: $450.6 million vs. $439.7 million expected
MongoDB's revenue grew 22% year over year in its fiscal first quarter, which ended April 30, according to a statement. Growth slowed for the third consecutive quarter. The percentage was 57% two years ago.
The company incurred a net loss of $80.6 million, or $1.10 per share, compared to a net loss of $54.2 million, or 77 cents per share, in the same quarter last year.
In terms of guidance, the company called for adjusted fiscal second-quarter earnings of 46 cents to 49 cents per share, with revenue ranging from $460.0 million to $464.0 million. Analysts surveyed by LSEG were looking for 58 cents in adjusted earnings per share and $470.4 million in revenue.
MongoDB trimmed its forecast for fiscal 2025, which now stands at $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. This means a growth of 12%. Three months ago, forecasts for earnings per share were revised from $2.27 to $2.49 and revenue from $1.90 billion to $1.93 billion. Analysts expected $2.50 in adjusted earnings per share on revenue of $1.93 billion.
“We had a slower-than-expected start to the year for Atlas consumption growth and new workload wins, which will have an impact downstream for the remainder of fiscal 2025,” MongoDB President and CEO Dev Ittycheria was quoted as saying in the statement. Atlas, MongoDB's cloud database service, now accounts for 70% of total revenue.
In a conference call with analysts, Iticheria said macroeconomic conditions factored into the results, and the company was not able to catch up with new business, but the company is not losing share to competitors. He said the forecasts do not represent MongoDB's long-term potential.
The comments came a day later Sales force She noted that she is witnessing a contraction in deals and taking longer to close.
Before the after-hours move, MongoDB shares were down 24% this year, lagging the S&P 500, which was up about 10% over the same period.
