Mongodb Inc (NASDAQ:MDB) stock fell 6.20% (As on March 8, 11:17:55 AM UTC-4, Source: Google Finance) after the company after it could offer only weak guidance for the current quarter. The company reported a fiscal fourth-quarter net loss of $55.5 million, down slightly from the $64.4 million loss it delivered one year ago. Subscription revenue was $444.9 million, an increase of 28% year-over-year, and services revenue was $13.1 million, a decrease of 1% year-over-year. Non-GAAP gross profit was $353.6 million, representing a 77% non-GAAP gross margin, compared to a non-GAAP gross margin of 78% in the year-ago period. Non-GAAP income from operations was $69.2 million, compared to a non-GAAP income from operations of $37.2 million in the year-ago period. As of January 31, 2024, MongoDB had $2.0 billion in cash, cash equivalents, short-term investments and restricted cash. During the three months ended January 31, 2024, MongoDB generated $54.6 million of cash from operations, used $2.7 million of cash in capital expenditures and used $1.4 million of cash in principal repayments of finance leases, leading to free cash flow of $50.5 million, compared to free cash flow of $23.8 million in the year-ago period.

MDB in the fourth quarter of FY 23 has reported the adjusted earnings per share of 86 cents, beating the analysts’ estimates for the adjusted earnings per share of 46 cents. The company had reported the adjusted revenue growth of 27 percent to $458 million in the fourth quarter of FY 23, beating the analysts’ estimates for revenue of $437 million.

Additionally, MongoDB Atlas, the most widely available cloud-based developer data platform in the world expanded across AWS, Google Cloud, and Microsoft Azure and is now available in 117 cloud regions globally, including Indonesia, Poland, Bahrain and Chile. With its broad global coverage, Atlas meets the needs of customers with demanding data residency, latency and high availability requirements for their business-critical applications. MongoDB was showcased as a key partner at Microsoft Ignite, highlighting collaboration to further empower developers to securely bring the power of large language models (LLMs) to their proprietary data. MongoDB Atlas is now integrated with Microsoft Fabric to run large-scale AI workloads across the enterprise data estate, and MongoDB Atlas Vector Search now also includes native support for Microsoft Semantic Kernel for working with LLMs.

The company said it expects revenue of between $436 million and $440 million, below the Street’s consensus estimate of $452 million. For the full year, MongoDB sees revenue of between $1.9 billion and $1.93 billion, compared with the Street’s target of $2.04 billion.