Download PDF

1. Company Snapshot

1.a. Company Description

MongoDB, Inc.provides general purpose database platform worldwide.The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.


It also provides professional services comprising consulting and training.The company was formerly known as 10gen, Inc.and changed its name to MongoDB, Inc.


in August 2013.MongoDB, Inc.was incorporated in 2007 and is headquartered in New York, New York.

Show Full description

1.b. Last Insights on MDB

Breaking News: MongoDB Inc has been impacted by the recent software stock selloff driven by AI displacement fears. The company is among those facing concerns over the threat AI poses to tools for modeling and analysis. Despite executives downplaying these fears, analysts warn of potential margin and pricing pressure. With AI-driven disruption warnings constant since ChatGPT's debut, MongoDB's growth prospects are being reassessed. Analysts recommend a hold, citing the need for further evaluation of AI's impact on the company's business model and earnings growth.

1.c. Company Highlights

2. MongoDB's Q3 FY2026 Earnings: Strong Atlas Growth Drives Revenue and Margin Expansion

MongoDB delivered a robust third quarter with revenue reaching $628.3 million, up 19% year-over-year, driven by strong Atlas performance, which grew 30% year-over-year. The company delivered non-GAAP operating income of $123.1 million, or a 20% non-GAAP operating margin. Net income was $115 million or $1.32 per share, beating estimates of $0.805. The customer count exceeded 62,500, with 2,600 additions in the quarter and 8,000 year-to-date, reflecting 65% growth in customer additions.

Publication Date: Dec -07

📋 Highlights
  • Revenue & Atlas Growth:: Q3 revenue reached $628.3M (+19% YoY), driven by Atlas growth of 30% YoY ($1.97B business).<br>
  • Customer Expansion:: Ended with 62,500+ customers, adding 2,600 in Q3 (65% growth YoY) and 8,000 year-to-date.<br>
  • Non-GAAP Profitability:: Delivered $123.1M non-GAAP operating income (20% margin), up from $110.2M in Q3 2025.<br>
  • Guidance Raised:: Full-year 2026 revenue guidance raised to $2.434–2.439B (21–22% YoY growth); Q4 revenue guidance of $665–670M.<br>
  • Free Cash Flow & Share Buybacks:: $140M free cash flow (vs. $35M YoY), $145M spent to repurchase 514,000 shares under $1B authorization.<br>

Revenue Growth and Customer Additions

The company's Atlas business is growing rapidly and is now almost a $2 billion business. MongoDB's CEO, Chirantan Desai, noted that new customers are ramping faster on Atlas due to reduced friction in onboarding, with the self-serve team removing obstacles and performance gains driving traction. The company is guiding for more definitive guidance on Atlas for the next quarter, with expectations of 27% growth.

Operating Margin Expansion and Cash Flow

MongoDB's operating margins are currently about 200 basis points shy of its midterm framework. The company will continue to invest in the business, especially in engineering, sales capacity, and marketing. Operating cash flow was $144 million, and free cash flow was $140 million, up from $37 million and $35 million, respectively, in the year-ago period.

Guidance and Outlook

The company raised its financial guidance for the fourth quarter and full fiscal year 2026, expecting revenue of $665 million to $670 million and non-GAAP income from operations of $139 million to $143 million. For fiscal '26, revenue is expected to be $2.434 billion to $2.439 billion, representing 21% to 22% year-over-year growth. Analysts estimate next year's revenue growth at 22.6%.

Valuation

MongoDB's current P/S Ratio is 14.39, and the EV/EBITDA is -1000.59. Given the company's growth prospects and margin expansion, the valuation appears to be reasonable. However, the high P/S Ratio suggests that the market has already priced in significant growth expectations.

AI Adoption and Opportunities

Desai emphasized MongoDB's strong position to become the modern data platform for the AI era, driving durable and efficient growth. He sees three key areas for MongoDB: core modernization efforts, AI workloads, and AI-native companies. The company is investing in the developer community on the West Coast, where many AI-native companies are based.

3. NewsRoom

Card image cap

5 Growth Stocks to Buy in February to Enhance Your Portfolio Returns

Feb -06

Source: zacks.com

Card image cap

Software Stocks Selloff: What's Behind the Rout?

Feb -06

Source: youtube.com

Card image cap

AI fears pummel software stocks: Is it 'illogical' panic or a SaaS apocalypse?

Feb -06

Source: cnbc.com

Card image cap

Software stocks fall for an eighth straight day, with a sweeping roster of decliners

Feb -06

Source: marketwatch.com

Card image cap

Investors Buy Large Volume of MongoDB Put Options (NASDAQ:MDB)

Feb -05

Source: defenseworld.net

Card image cap

Investors Buy Large Volume of MongoDB Call Options (NASDAQ:MDB)

Feb -05

Source: defenseworld.net

Card image cap

MongoDB (MDB) Declines More Than Market: Some Information for Investors

Feb -04

Source:

Card image cap

MongoDB, Inc. Announces Date of Fourth Quarter and Full Fiscal 2026 Earnings Call

Feb -04

Source: prnewswire.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (15.30%)

6. Segments

Data Processing

Expected Growth: 17.0%

The increasing demand for real-time data processing and analytics is driving the growth of this segment. As more businesses adopt data-driven strategies, the need for efficient data processing is becoming more critical. MongoDB's capabilities in this area position it well for growth, outpacing the global average growth rate of 15.3%. The rising adoption of IoT devices and streaming services further accelerates this growth. The segment is expected to benefit from the expanding data universe.

7. Detailed Products

MongoDB Atlas

A cloud-based, fully managed database-as-a-service that allows users to deploy, manage, and scale MongoDB deployments in the cloud.

MongoDB Enterprise Server

A commercial version of the MongoDB database that provides advanced security, scalability, and support features.

MongoDB Stitch

A backend-as-a-service that allows developers to build scalable, secure, and integrated applications with MongoDB.

MongoDB Charts

A data visualization tool that allows users to create interactive, web-based dashboards and charts from MongoDB data.

MongoDB Compass

A GUI tool for MongoDB that provides an intuitive interface for querying, indexing, and managing MongoDB data.

MongoDB University

A training and certification program that provides courses, tutorials, and certifications for MongoDB developers and administrators.

8. MongoDB, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

MongoDB's flexible data model and ability to handle large amounts of data make it difficult for substitutes to emerge.

Bargaining Power Of Customers

While customers have some bargaining power due to the availability of alternative NoSQL databases, MongoDB's strong brand recognition and large community of developers reduce this power.

Bargaining Power Of Suppliers

MongoDB's open-source nature and large community of contributors reduce the bargaining power of suppliers, making it difficult for them to exert significant influence.

Threat Of New Entrants

While new entrants may emerge, MongoDB's strong brand recognition, large community of developers, and established customer base create barriers to entry.

Intensity Of Rivalry

The NoSQL database market is highly competitive, with many established players, including Cassandra, Couchbase, and Amazon DynamoDB, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 52.03%
Debt Cost 3.95%
Equity Weight 47.97%
Equity Cost 9.89%
WACC 6.80%
Leverage 108.44%

11. Quality Control: MongoDB, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
DigitalOcean

A-Score: 5.2/10

Value: 5.2

Growth: 9.2

Quality: 7.2

Yield: 0.0

Momentum: 7.5

Volatility: 2.0

1-Year Total Return ->

View Full Report
Stock-Card
Marqeta

A-Score: 4.6/10

Value: 5.1

Growth: 7.4

Quality: 3.4

Yield: 0.0

Momentum: 8.0

Volatility: 3.7

1-Year Total Return ->

View Full Report
Stock-Card
MongoDB

A-Score: 4.2/10

Value: 4.0

Growth: 7.9

Quality: 4.4

Yield: 0.0

Momentum: 7.0

Volatility: 2.0

1-Year Total Return ->

View Full Report
Stock-Card
Tenable

A-Score: 4.2/10

Value: 4.3

Growth: 7.7

Quality: 5.5

Yield: 0.0

Momentum: 1.0

Volatility: 6.7

1-Year Total Return ->

View Full Report
Stock-Card
HashiCorp

A-Score: 4.1/10

Value: 4.2

Growth: 4.4

Quality: 3.7

Yield: 0.0

Momentum: 7.0

Volatility: 5.0

1-Year Total Return ->

View Full Report
Stock-Card
Rapid7

A-Score: 3.5/10

Value: 3.8

Growth: 8.6

Quality: 4.4

Yield: 0.0

Momentum: 0.0

Volatility: 4.0

1-Year Total Return ->

View Full Report

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

344.35$

Current Price

344.35$

Potential

-0.00%

Expected Cash-Flows