MongoDB Q1 results

MongoDB (MDB) just announced some solid numbers.

  • Revenue of $181.6M (+39.3% Y/Y) beats by $11.64M.

  • Atlas sales grew 73% YoY, and by itself, is at a $400M annual run rate (53% of total Q1 revenue)

  • Q1 Non-GAAP EPS of -$0.15 beats by $0.21

  • Gross profit was $127.1M, representing a 70% gross margin, compared to 71% last year.

  • Guidance Q2 and FY: Q2 Revenue consensus of $181.01M and EPS consensus of -$0.33; FY Revenue consensus of $765.23M and EPS consensus of -$1.4

I’ll listen to the earnings call, but my first impression is that, while the reported numbers look good, the guidance for Q2 is overly conservative.

-Ron
Long MDB since Jan. 2018

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