WASHINGTON (dpa-AFX) - Database software company MongoDB Inc. (MDB) on Thursday posted a first-quarter profit compared to a loss last year, driven by strong growth in revenues.
Net income was $4.43 million, or $0.05 per share, compared with a net loss of $37.63 million, or $0.46 loss per share, in the year-ago quarter. Adjusted net income increased to $112.28 million, or $1.32 per share, from $86.35 million, or $1.00 per share, last year.
Revenue surged 25.2% to $687.62 million from $549.01 million a year earlier. Subscription revenue increased 25% to $666.14 million, while services revenue rose 22% to $21.48 million.
For the second quarter, MongoDB expects revenue between $729 million and $734 million, with adjusted earnings projected between $1.58 and $1.61 per share.
For fiscal 2027, the company now expects revenue between $2.92 billion and $2.96 billion, with adjusted earnings projected between $5.95 and $6.14 per share.
'We delivered better-than-expected first quarter results, as our go-to-market teams continue to execute well and capitalize on strong end-market demand for the MongoDB platform across enterprise use cases and emerging AI opportunities. At the same time, we continue to show strong profitability, demonstrating we can drive durable revenue growth while simultaneously expanding margin. Based on the momentum we are seeing in the business, we are raising our fiscal 2027 guidance,' said CJ Desai, President and Chief Executive Officer of MongoDB.
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