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Compared to Estimates, MongoDB (MDB) Q1 Earnings: A Look at Key Metrics

Zacks Equity Research
·2 min read

MongoDB (MDB) reported $368.28 million in revenue for the quarter ended April 2023, representing a year-over-year increase of 29%. EPS of $0.56 for the same period compares to $0.20 a year ago.

The reported revenue represents a surprise of +6.35% over the Zacks Consensus Estimate of $346.3 million. With the consensus EPS estimate being $0.19, the EPS surprise was +194.74%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

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Here is how MongoDB performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Customers: 43100 compared to the 42462.5 average estimate based on two analysts.

  • Customers over $100K: $1,761 compared to the $1,726.50 average estimate based on two analysts.

  • MongoDB Atlas customers: 41600 compared to the 40862.5 average estimate based on two analysts.

  • Revenue- Services: $13.57 million versus $13.19 million estimated by eight analysts on average. Compared to the year-ago quarter, this number represents a +24.9% change.

  • Revenue- Subscription: $354.71 million compared to the $333.12 million average estimate based on eight analysts. The reported number represents a change of +29.2% year over year.

  • Revenue- Subscription - MongoDB Atlas-related: $237.76 million versus $231.68 million estimated by three analysts on average.

  • Revenue- Subscription - Other: $116.96 million compared to the $101.87 million average estimate based on three analysts.

View all Key Company Metrics for MongoDB here>>>

Shares of MongoDB have returned +23.9% over the past month versus the Zacks S&P 500 composite's +1.5% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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