MDB Jan 2025 290.000 put

Why MongoDB Stock Dropped Today

Shares of MongoDB (NASDAQ: MDB) are down 7.8% as of 1:45 p.m. ET Wednesday despite an impressive quarterly report from the NoSQL database platform provider. For MongoDB's fiscal third quarter ended Oct. 31, 2023, revenue grew 30% year over year to $432.9 million, translating to adjusted (non-GAAP) net income of $79.1 million, or $0.96 per share. Within MongoDB's top line, revenue from MongoDB Atlas -- its fully managed cloud database platform -- grew 36% year over year to comprise 66% of total quarterly revenue.