Description

MongoDB’s 23%–25% Growth Outlook: Why Atlas Consumption Still Carries Risk!

MongoDB reported its first quarter fiscal 2027 results with total revenue of $688 million, marking a 25% year-over-year increase and surpassing the high end of guidance. This growth rate accelerated from the 22% reported in the same quarter over the prior two fiscal years, primarily driven by the Atlas cloud database platform, which grew 29.4% year-over-year and contributed a record $117 million of incremental revenue. Atlas now runs at an annualized revenue level of approximately $2 billion and accounted for 75% of total revenue, up from 72% in the prior year. The non-Atlas segment, referred to as Enterprise Advanced (EA) and other, grew 13% year-over-year. MongoDB’s non-GAAP operating margin expanded to 18%, above the high end of guidance, reflecting operational leverage mainly from Atlas growth. The total customer base increased to over 67,700, adding 2,500 customers sequentially and showing growth both year-over-year and quarter-over-quarter.