Mongodb Inc (NASDAQ: MDB) stock rises on solid performance

Free $100 Forex No-Deposit Bonus

Mongodb Inc (NASDAQ: MDB) stock rose over 2.3% on 10th December, 2019 (As of 11:07 am GMT-5; Soruce: Google finance) AS the company posted better than expected results for the third quarter of FY 20 due to strength from both Atlas and Enterprise Advanced as well as positive demand trends in all major regions. Atlas grew more than 185% in the third quarter and now forms 40% of total revenue compared to 21% in the third quarter of fiscal 2019 and 37% last quarter. The company has reported a third-quarter loss of $42.4 million, compared to $22.5 million, in the year-ago period. The net AR expansion rate in the third quarter was above 120% for the 20th consecutive quarter. MDB has ended the third quarter with 688 customers, with at least $100,000 in ARR and annualized MRR, which is up from 490 in the year ago period. MDB has ended the third quarter with $426.4 million in cash, cash equivalents, short-term investments, and restricted cash.

MDB in the third quarter of FY 20 has reported the adjusted loss per share of 26 cents, beating the analysts’ estimates for the adjusted loss per share of 28 cents, according to analysts surveyed by FactSet. The company had reported the adjusted revenue growth of 52 percent to $109.4 million in the third quarter of FY 20, beating the analysts’ estimates for revenue of $99.7 million. Subscription revenue grew 56% to $103.8 million year-over-year and professional services revenue rose 8% to $5.6 million year-over-year. Gross profit in the third quarter was $79.3 million, which represents a gross margin of 72% compared to 72% last quarter and 77% in the year ago period. The company posted the operating loss of $14.3 million or negative 13% operating margin for the third quarter compared to a negative 11% margin in the year ago period

MongoDB expects a loss in the range of 29 cents to 27 cents a share on revenue expected to be in the range of $109 million to $111 million for the fourth quarter, and range of $1.04 to $1.02 a share on revenue expected to be in the range of $407.2 million to $409.2 million for the fiscal year 2020. Analysts expect a loss of 30 cents a share on revenue of $105.6 million for the fourth quarter, and $1.07 a share on revenue of $394.2 million for the year. For the fourth quarter, the company expects non-GAAP loss from operations to be in the range of $16.5 million to $15.5 million

Copyright © 2020. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. FXDailyReport.com will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.