Mongodb Inc (NASDAQ: MDB) stock rose over 5.7% on September 6th, 2018 (as of 11:48 AM GMT-4; Source: Google finance) though the company posted better than expected results for the second quarter of 2019. The company saw strong growth across all major regions, including North America, EMEA and Asia. Atlas revenue grew more than 400% year-over-year and now represents 18% of revenue and the company raised 254 million in net proceeds from the successful convertible notes offering. During the second quarter, MDB added a number of new enterprise customers including Canon USA, Coinbase, Monotone [ph] International, IPC Systems, Royal Caribbean Cruises and Service New South Wales. The company also expanded the relationship with customers such as Apervita, Cisco, Fresenius Medical Care North America, HSBC, Maple Leaf Sports & Entertainment Partnership, Squarespace, the Bank of Nova Scotia and Click Deck [ph].
Meanwhile, Coinbase, a leading global digital currency wallet and platform, made a strategic decision to build its business on MDB, in order to rapidly develop its capabilities and fuel the growth and scale necessary to be the market share leader in the hypercompetitive cryptocurrency exchange industry. The company continues to invest in MDB to extend its platform, better handle traffic spikes at peak trading hours and to serve a growing global customer base. Moreover, Squarespace, one of the largest SaaS based website building and hosting platforms, chose MDB as the standard for its core website platform.
MDB in the second quarter of FY 19 has reported the adjusted loss per share of 41 cents, beating the analysts’ estimates for the adjusted loss per share of 45 cents. The company had reported the adjusted revenue growth of 61 percent to $57.5 million in the second quarter of FY 19, beating the analysts’ estimates for revenue of $51.73 million. The company grew subscription revenues 63% year-over-year. MDB ended the quarter with over 7,400 customers, up 72% compared to a year ago.
For the third quarter of 2019, the company expects earnings per share to be in the range of ($0.40)-($0.39), versus the consensus of ($0.39). MDB expects Q3 2019 revenue in the range of $59-60 million, versus the consensus of $57.55 million.
For FY 19, the company provided earnings per share guidance to be in the range of ($1.66-1.62) for the period, compared to the Thomson Reuters consensus earnings per share estimate of ($1.62). The company issued revenue guidance to be in the range of $228-230 million, compared to the consensus revenue estimate of $219.68 million.