MongoDB Inc.’s stock experienced a 9% decline in after-hours trading on Thursday following the release of its quarterly results, which included weaker-than-expected revenue guidance.
For the first quarter, MongoDB provided sales guidance in the range of $436 million to $440 million, falling short of FactSet analysts’ forecast of $452 million. The company’s fiscal year revenue outlook is between $1.9 billion and $1.93 billion, lower than the analysts’ estimate of $2.04 billion.
In the fiscal fourth quarter, MongoDB reported a net loss of $55.5 million, or 77 cents per share, compared to a net loss of $64.4 million, or 93 cents per share, in the same period last year. Adjusted earnings per share stood at 86 cents.
Despite the revenue miss, the company saw a 27% increase in revenue, reaching $458 million compared to $361.3 million in the year-ago quarter. Analysts surveyed by FactSet had anticipated a net income of 46 cents per share on revenue of $437 million on average.
Over the past year, MongoDB’s shares have surged by 97%, significantly outperforming the broader S&P 500 index, which has increased by 32%.