MongoDB (NASDAQ:MDB): Q3 Non-GAAP EPS of -$0.26 beats by $0.02; GAAP EPS of -$0.75 misses by $0.17.
Revenue of $109.44M (+52.5% Y/Y) beats by $11.97M.
Shares -0.85%.
https://seekingalpha.com/pr/17722591-mongodb-inc-announces-t…
Looks a little meh to me - waiting for call.
It’s now 30 minutes after close.
MDB +$9.31 (7.1%)
I’m trying to calculate their revenue growth forecast. They are guiding for 109-111 million next quarter. With a huge beat, they could hit 125 million. Schwab has their revenue from Q4 last year at 96.3 million. I think they changed to 606 accounting, so I’m not sure if a comparison is accurate. But if it is, that seems like a big slowdown in growth. Are Schwab’s numbers mistaken here?
Schwab is wrong. Q4 FY19 (ASC 606) revenue was $85.5M. ASC 605 revenue for the same quarter was $83.1M.
Hitting guidance of $111M for Q4 would be 30% Y/Y growth. Hitting $125-130M, which would be a % beat consistent with previous beats, would be 46-52% revenue growth.
Eric Przybylski, CPA
Schwab has their revenue from Q4 last year at 96.3 million. I think they changed to 606 accounting, so I’m not sure if a comparison is accurate. But if it is, that seems like a big slowdown in growth. Are Schwab’s numbers mistaken here?
85.8 million. Always go to the source: https://investors.mongodb.com/file/Index?KeyFile=397105628
Bear
I know the YOY comp is hard next Q but I’m wondering about accounting also because they’re guiding for 14% YOY growth, so that seems crazy, especially for the stock to be up $10 after hours, I must be missing something
I know the YOY comp is hard next Q but I’m wondering about accounting also because they’re guiding for 14% YOY growth, so that seems crazy, especially for the stock to be up $10 after hours, I must be missing something
Definitely, because they guided to 30% growth next quarter, which of course they will beat handily.
Best,
Matt