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 a consensus rating of Moderate Buy from 38 research firms. 26 firms have assigned a buy recommendation, 10 have issued a hold recommendation, and 1 has rated the stock with a sell recommendation. Recently, MDB Capital Holdings announced its plan to host a conference call to discuss its fourth quarter and full year 2025 results on March 31, 2026. MongoDB is compared to ServiceNow in terms of AI software stock upside. Several Wall Street analysts have made research calls on MongoDB.

1.c. Company Highlights

2. MongoDB's Strong Q4 Results: A Deeper Dive

MongoDB reported a robust Q4 FY2026, with total revenue reaching $695 million, a 27% year-over-year increase, surpassing the high end of guidance by 4%. The company's non-GAAP operating margin expanded to 23%, exceeding expectations. However, EPS came in at $0.1796, significantly below estimates of $1.47. Atlas, the company's cloud database service, drove the top-line strength, growing 29% year-over-year and crossing the $2 billion run rate mark for the first time. Non-Atlas revenue also grew 20% year-over-year, marking the best growth quarter in the last two years.

Publication Date: Mar -04

📋 Highlights
  • Revenue Growth:: Total revenue reached $695 million, up 27% YoY, with Atlas crossing a $2 billion run rate and generating $114 million in net new revenue.
  • Large Deals Closed:: Secured a $90 million deal with a top tech company and a >$100 million deal with a financial institution, driving enterprise revenue momentum.
  • Customer Expansion:: Ended Q4 with 65,200 customers, adding 2,700 in the quarter (60% YoY growth annually), highlighting broad adoption.
  • AI Adoption Surge:: Vector search users doubled YoY, and Voyage embedding model usage also doubled since its acquisition in Feb 2025.
  • Operational Efficiency:: Delivered a 23% non-GAAP operating margin, exceeding guidance by 100+ basis points while expanding cash conversion to >100%.

Revenue Growth Drivers

The revenue growth was largely driven by Atlas, which saw a significant increase in net new revenue. The company's AI capabilities are gaining traction, with the number of customers leveraging vector search nearly doubling year-over-year. MongoDB signed several large deals in the quarter, including a $90 million transaction with a large tech company and a greater than $100 million transaction with a financial institution for Enterprise Advanced.

Customer Acquisition and Expansion

MongoDB ended the quarter with over 65,200 customers, adding 2,700 customers in Q4. The company's customer base continues to expand, with a 60% year-over-year increase in full-year customer additions. MongoDB is increasingly recognized as the architectural foundation powering innovation for frontier model companies, leading digital natives expanding into AI and AI native organizations scaling globally.

Valuation Metrics

With the current P/S Ratio at 8.35, it appears that MongoDB's revenue growth is somewhat priced in. However, the company's growth prospects, driven by its AI capabilities and expanding customer base, may justify a premium valuation. The EV/EBITDA ratio of -1067.45 is not a reliable metric in this case, given the company's negative EBITDA. The P/B Ratio of 6.96 suggests that investors are willing to pay a premium for the company's book value, potentially reflecting its growth potential.

Outlook and Guidance

MongoDB provided guidance for Q1 and FY2027, expecting Atlas revenue growth of approximately 26% and 21% to 23%, respectively. The company expects to expand operating margin by 100 basis points in FY2027, driven by investments in AI capabilities and strengthening its U.S. federal business. Analysts estimate next year's revenue growth at 18.8%, which is slightly above the company's guidance.

3. NewsRoom

Card image cap

MongoDB vs. ServiceNow: Which AI Software Stock Has Greater Upside?

Mar -23

Source: zacks.com

Card image cap

MDB Capital Holdings to Host Fourth Quarter and Full Year 2025 Results Conference Call on Tuesday, March 31, 2026 at 4:30 p.m. Eastern Time

Mar -23

Source: globenewswire.com

Card image cap

Stock Futures Soar on Reported U.S.-Iran De-Escalation Talks

Mar -23

Source: schaeffersresearch.com

Card image cap

Here Are Monday’s Top Wall Street Analyst Research Calls: APA Corporation, Cheniere Energy, Crown Castle, Hut 8, MongoDB, Red Rock Resorts, Super Micro Computer, Terawulf, and More

Mar -23

Source: 247wallst.com

Card image cap

MongoDB, Inc. (NASDAQ:MDB) Given Consensus Rating of “Moderate Buy” by Brokerages

Mar -21

Source: defenseworld.net

Card image cap

Standard Chartered, BSI lose bid to join cases in Singapore winding up firms with assets linked to 1MDB

Mar -20

Source: reuters.com

Card image cap

AI Broke the Digital Economy – And Almost Nobody Has Noticed

Mar -18

Source: investorplace.com

Card image cap

18,000 Shares in MongoDB, Inc. $MDB Bought by Alight Capital Management LP

Mar -15

Source: defenseworld.net

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

273.25$

Current Price

273.25$

Potential

-0.00%

Expected Cash-Flows