Why Mongodb Inc (NASDAQ: MDB) stock is killing it

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Mongodb Inc (NASDAQ: MDB) stock surged over 25% on 14th March, 2019 (as of 11:32 am GMT-4; Source: Google finance) as the company posted better than expected results for the fourth quarter of FY 19 & issued bullish guidance. The strong growth in the quarter was driven by a healthy mix of new logos and upsell activity by Enterprise Advanced customers, as well as the rapid adoption of Atlas. Atlas represented 32% of revenue during the quarter, up from 10% in the fourth quarter last year and up from 21% last quarter. During the fourth quarter, the company grew the customer base by over 5,000 customers, bringing the total customer count to over 13,400 customers. The operating loss was $9.7 million or negative 11% operating margin for the fourth quarter, compared to a negative 29% margin in the year-ago period. The more than 1,800 basis points improvement in operating margin reflects the significant operating leverage the company drove in the business this year while investing in the continued growth. Net loss in the fourth quarter was $9.1 million.

MDB in the fourth quarter of FY 19 has reported the adjusted loss per share of 17 cents, beating the analysts’ estimates for the adjusted loss per share of 38 cents, as per the analysts surveyed by FactSet. The company had reported the adjusted revenue growth of 71 percent to $85.5 million in the fourth quarter of FY 19, beating the analysts’ estimates for revenue of $74 billion. Subscription revenue was $80.6 million, up 73% year over year. And professional services revenue was $4.9 million, up 37% year over year. The revenue performance was strong across the board and also benefits from stronger-than-expected Atlas consumption, including a number of customers who consumed well in excess of their contractual run rates. . Gross profit in the fourth quarter was $58.6 million, representing a gross margin of 71%, compared to 73% in the year-ago period.

For the first quarter 2020, analysts model losses of 37 cents a share on sales of $75 million. For the full year, analysts expect losses of $1.28 a share on sales of $347 million. The company said it expects first-quarter adjusted losses of 25 cents to 23 cents a share and sales of $82 million to $84 million; for the full year it expects adjusted losses of $1.06 to 98 cents a share on sales of $363 million to $371 million

 

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