MongoDB stock soars postmarket on strong Q4 results, upbeat forecast

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• MongoDB (NASDAQ:MDB) stock jumped 10% postmarket after the firm reported Q4 results that topped Street estimates and provided upbeat guidance.
• Q4 revenue grew 55.8% to $266.49M. Subscription revenue was $258.2M, up 58% Y/Y, and services revenue was $8.3M, up 17% Y/Y.
• MDB expects Q1 non-GAAP loss per share of $0.12-$0.08, narrower than consensus estimate of $0.18.
• Q1 revenue is expected to be $263M-267M, well above consensus estimate of $253.59M.
• FY23 non-GAAP loss per share is projected to be $0.51-0.29 vs. consensus estimate of $0.62.
• FY23 revenue is expected to be $1.15B-1.18B vs. consensus estimate of $1.14B.
• "MongoDB delivered exceptional Q4 results, highlighted by delivering 85% Atlas revenue growth and surpassing $1B in annualized revenue," said CEO Dev Ittycheria.
• As of Jan. 31, MDB had $1.8B in cash, cash equivalents, short-term investments and restricted cash.

Comments

[gutcheck]

how come not profitable with 1 B rev ? how many employees do they have ?

[Guraaf]

Sales growth was 48% this year and will slow down to 35% next year (goes to $1.18B from $0.873B). Why are we paying 20x sales? Shouldn't it be closer to 10-12x sales?
Why isn't there more profitability?

[Investor1546]

Trading at 20x sales… this thing will likely go down to $100 soon enough. The market is relentless on these names.

[mmraja83]

@Investor1546 you can’t see MDB as dollar tree product. It’s a DB that support to big data.

[Investor1546]

@mmraja83 20x sales. It’s just very expensive.

[RestaurantGuy2]

Good for DOCN too as DOCN now packaging MDB. DOCN has better metrics and sub 10x EV/Sales.

[MoneyMaker5o1]

You can’t get more sticky than a database, sorry snowflakes

[magenta17]

MongoDB - funny name - great quarter! Longz! :-)