EarningsQ2 2027 Earnings Report
MX:MDB Q2 2027 EPS Results
Actual EPS$34.51
Consensus EPS$29.33
Beat/MissBeat by +$5.18
One Year Ago EPS$18.16
MX:MDB Q2 2027 Revenue Results
Actual Revenue$14.02B
Expected Revenue$13.35B
Beat/MissBeat by +$667.63M
YoY Revenue Growth+30.50%
Earnings Announcement Details
QuarterQ2 2027
Date09/01/2026
TimeAfter Close
Conference CallTuesday, September 1, 2026
MX:MDB Upcoming Earnings
MongoDB's next earnings date is estimated for December 7, 2026, based on past reporting schedules.
Q2 2027 Earnings Call Audio
MX:MDB Q2 2027 Earnings Call
0:00 / 0:00
Q2 2027 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2027 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive, with broad-based revenue growth, sustained Atlas performance, accelerating EA momentum, improving profitability, strong cash flow, raised full-year guidance, and early AI adoption across enterprise customers, AI natives, and frontier labs. The principal cautions were prudent near-term guidance, an approximately flat second-half EA outlook, uncertainty around multiyear deals, and the still-early stage of AI and Voyage monetization.Company Guidance
Strong Q2 Revenue Growth
Total revenue was $772 million, up 30% year over year, representing the highest quarterly growth level since fiscal year 24 and accelerating from 24% growth in the year-ago quarter. The company came in above all guidance ranges.
Sustained Atlas Momentum
Atlas revenue grew approximately 29% year over year for the fifth consecutive quarter. Atlas exceeded guidance by approximately 300 basis points, added a record $127 million of year-over-year dollar growth in the quarter, and reached an almost $2.3 billion run rate.
Atlas Outlook Raised
The company expects Atlas growth of approximately 26% in Q3 and raised its full-year fiscal 2027 Atlas growth expectation to approximately 27%, an increase of 300 basis points from the midpoint of prior guidance.
EA Growth and Strategic Importance
EA and other had a strong quarter, with management citing 36% year-over-year growth driven by widespread strength and run-anywhere capabilities. The CFO reported EA and other revenue growth of approximately 30% year over year, the strongest quarter in three years, with broad-based demand across financial services, the public sector, and technology.
EA Full-Year Guidance Increased
Full-year fiscal 2027 expectations for EA and other revenue were raised to approximately 11% growth from prior guidance of mid-single-digit growth. This would be the first time in three years that EA and other is projected to grow at a double-digit rate for the full year.
Improved Profitability
Non-GAAP operating income was $186 million, producing a 24% operating margin versus 15% in the year-ago period. The company significantly outperformed its operating margin and EPS guidance, and fiscal 2027 operating-margin expansion expectations were increased to approximately 250 basis points, 100 basis points above the high end of the previous range.
GAAP EPS Profitability
Q2 marked the company's third consecutive quarter of GAAP EPS profitability. Management's full-year guidance incorporates an expectation of being GAAP EPS profitable for fiscal 2027.
Higher Non-GAAP Earnings
Second-quarter non-GAAP net income was $163 million, or $1.90 per diluted share, compared with $87 million, or $1.00 per share, in the year-ago period. Diluted shares outstanding declined to 85.8 million from 87.1 million.
Gross Margin Expansion
Total non-GAAP gross margin was 75.9%, up approximately 210 basis points year over year. Subscription gross margin was 78.3%, up approximately 70 basis points, primarily driven by a higher EA revenue mix.
Customer Growth and Upmarket Expansion
MongoDB added a record approximately 2.9 thousand net new customers, ending the quarter with 70.6 thousand customers versus 59.9 thousand a year ago. Atlas customers increased to 69.3 thousand from 58.5 thousand, and the company ended the quarter with nearly 3 thousand customers generating at least $100 thousand in ARR, up 17% year over year.
Improved Net ARR Expansion
Total company net ARR expansion increased to 122%, compared with 119% a year ago and 121% in the prior quarter, driven by strength in both Atlas and EA.
AI Adoption Momentum
Voyage customer count nearly doubled quarter over quarter for the second consecutive quarter, while Atlas Vector Search adoption continued to outpace overall company growth. Among Atlas customers generating at least $100 thousand in ARR, 48% were leveraging two or more platform features, up from 42% a year ago, driven largely by vector and text search adoption.
AI Product Expansion
MongoDB brought automated Voyage embeddings to Atlas for one-click vector-search setup, launched Voyage Code 4 for code, upgraded its reranking API, and launched search and vector search on EA. Management said Atlas retrieval accuracy for AI remained ahead of the market and that demand for the new EA capabilities came immediately.
Frontier Lab and Developer Ecosystem Traction
Multiple leading AI labs are using Atlas for mission-critical inference, chat, research, evaluation, and training workloads. One lab migrated its chat-memory system from Postgres to Atlas in four weeks and achieved reads that were 10x faster than Postgres. MongoDB also launched a fully managed MCP server for integrations with Claude, LangChain, Codecs, Grok, Cursor, and Devin.
Customer AI Use Cases Reaching Production
The Financial Times uses MongoDB Vector Search and Voyage embeddings to support AI-driven discovery for millions of readers, serving over 100 thousand daily queries and reducing manual index-monitoring work from weeks to one day. Fireflies selected Atlas from day one and runs more than 40 microservices, while serving more than 20 million users across over 1 million organizations and processing over 7 billion meeting minutes.
Run-Anywhere and Hybrid Deployment Differentiation
Management said customers are using Atlas and EA together across multiple clouds and self-managed environments rather than choosing one over the other. Nationwide UK runs workloads across EA and Atlas, supports more than 24 million weekly app logins, and processes up to 3 million faster-payment transactions worth £1.5 billion on a peak day.
Large Contracted Revenue Backlog
Remaining performance obligations ended the quarter at $1.52 billion, up 91% year over year, with the current portion growing 73%.
Strong Cash Position and Cash Flow
MongoDB ended the quarter with $2.4 billion in cash, cash equivalents, and short-term investments. Operating cash flow was $142 million versus $72 million a year ago, and free cash flow was $138 million versus $70 million. Through the first half of fiscal 2027, the company generated $344 million in operating cash flow and $335 million in free cash flow, and expects full-year free-cash-flow conversion to be at the upper end of its long-term target range of 80% to 100%.
Raised Fiscal 2027 Financial Outlook
Fiscal 2027 total revenue guidance is now $2.99 billion to $3.03 billion, representing 21% to 23% growth. Non-GAAP operating income is expected to be $616 million to $636 million, with an operating margin of approximately 21% at the high end, and non-GAAP EPS is expected to be $6.39 to $6.58. At the high end, management is targeting Rule of 44 performance.
Continued Investment in Growth
The company plans to continue investing in engineering and product innovation, AI and core database capabilities, quota-carrying headcount, marketing programs, developer awareness, and go-to-market efforts focused on high-growth geographies and customer segments.
MX:MDB Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed