Summary
MongoDB reported $687.6 million of revenue for the first quarter of fiscal 2027, up 25.2% from $549.0 million in the prior-year quarter. Atlas revenue grew more than 29% year over year, and MongoDB Enterprise Advanced and other revenue grew more than 13%. Atlas accounted for 75% of total revenue, up from 72% a year earlier, so the hosted service keeps pulling the mix toward consumption-based billing.
Profitability improved sharply. Gross profit reached $496.2 million, up 26.9%, and gross margin rose to 72.2% from 71.2%. The operating loss narrowed to $24.8 million from $53.6 million, and operating margin improved to negative 3.6% from negative 9.8%. Net income swung to a profit of $4.4 million, or $0.05 per diluted share, against a net loss of $37.6 million, or $0.46 per diluted share, a year earlier. Non-GAAP income from operations was $123.2 million, up from $87.4 million, and non-GAAP net income was $112.3 million, or $1.32 per share, compared with $86.3 million, or $1.00 per share.
Cash generation was the standout. Operating cash flow was $201.6 million, up 83.4% from $109.9 million a year earlier, while capital expenditures were $2.3 million. Free cash flow, a non-GAAP measure, was $197.5 million, compared with $105.9 million. Deferred revenue ended the quarter at $432.3 million, up 35.1%, and remaining performance obligations reached $1.46 billion, up 88.4%. Current remaining performance obligations were $766.3 million, up 69%. The company held $2.4 billion in cash, cash equivalents, short-term investments and restricted cash as of April 30, 2026.
Customer metrics kept pace. MongoDB finished the quarter with more than 67,700 customers, up from more than 57,100 a year earlier, and more than 66,400 Atlas customers, up from more than 55,800. Customers spending at least $100,000 in annualized recurring revenue totaled 2,895, up from 2,506. The net ARR expansion rate was 121% as of April 30, 2026. Management pointed to the acquisition of Clarity Business Solutions to strengthen the US Federal vertical, a strategic partnership with LangChain, seven new platform capabilities announced at MongoDB.local London, and new leadership appointments across sales, product and security. The company also plans to grow its Irish workforce by more than 50% by 2027.
Guidance for the second quarter of fiscal 2027 points to non-GAAP income from operations of $152.0 million to $156.0 million and non-GAAP net income per share of $1.58 to $1.61. For the full fiscal year 2027, non-GAAP income from operations is guided to $571.0 million to $591.0 million and non-GAAP net income per share to $5.95 to $6.14. The company said it raised its full-year fiscal 2027 guidance, driven mainly by Atlas strength.
Risks remain. Management expects macroeconomic headwinds on the growth rate for existing Atlas applications in the short term, and the filing lists geopolitical instability, including the conflict in Iran, unrest in Mexico, the Russia-Ukraine conflict, Israel and Hamas, and recent events in Venezuela. The company carries a $1.9 billion accumulated deficit and expects to keep incurring operating losses. It also flagged a reasonable possibility that sufficient positive evidence could emerge within the next 12 months to release all or part of its US valuation allowance, which would produce a material income tax benefit. Competition, the cost of integrating acquisitions, and the price volatility of the stock round out the list.
Forecast
Reported figures
GAAP, from SEC filings| Metric | Q1 FY2027 | Q4 FY2026 | QoQ | Q1 FY2026 | YoY |
|---|---|---|---|---|---|
| Revenue | $687.6M | $695.1M | -1.1% | $549.0M | +25.2% |
| Gross profit | $496.2M | $507.7M | -2.3% | $391.0M | +26.9% |
| Gross margin | 72.2% | 73.0% | -0.9 pp | 71.2% | +1.0 pp |
| Research & development | $200.4M | $189.1M | +6.0% | $168.8M | +18.7% |
| Sales & marketing | $249.3M | $248.5M | +0.3% | $220.9M | +12.9% |
| General & administrative | $71.2M | $69.7M | +2.2% | $54.8M | +30.1% |
| Total operating expenses | $521.0M | $507.4M | +2.7% | $444.5M | +17.2% |
| Operating income (loss) | -$24.8M | $304.0K | -8259.2% | -$53.6M | +53.7% |
| Operating margin | -3.6% | 0.0% | -3.6 pp | -9.8% | +6.1 pp |
| Net income (loss) | $4.4M | $15.5M | -71.4% | -$37.6M | +111.8% |
| Net margin | 0.6% | 2.2% | -1.6 pp | -6.8% | +7.5 pp |
| Diluted EPS | $0.05 | $0.19 | -$0.14 | — | — |
| Customers | 67,700 | — | — | 57,100 | +18.6% |
Risks
Adverse macroeconomic conditions, including slower or negative economic growth, higher inflation, rising interest rates, trade tariffs and geopolitical conflicts, could reduce IT spending and delay customer purchases. MD&A states the company expects macroeconomic headwinds on growth rate for existing Atlas applications in the short term.
Rapid adoption of generative and agentic AI tools may change how developers design, build and deploy applications, potentially reducing developer engagement with or preference for MongoDB. Competitors may incorporate AI and ML into their products more quickly, and the company may incur significant costs to adapt.
Atlas revenue represented 75% of total revenue in the three months ended April 30, 2026, up from 72% in the three months ended April 30, 2025. Because Atlas is primarily usage-based, failure to satisfy customer demands or slower consumption could make future revenue less predictable.
The business depends on customers renewing subscriptions and expanding usage, and the majority of subscription contracts are one year in duration. Net ARR expansion rate was 121% as of April 30, 2026, and any decline in renewals or expansion could materially harm results.
The database market is highly competitive, with legacy providers IBM, Microsoft and Oracle and cloud providers AWS, Google Cloud Platform and Microsoft Azure, some of which have greater resources and can bundle competing products at low or no cost.
Security breaches or incidents, including AI-enhanced phishing, ransomware and supply-chain attacks, could expose customer data and lead to litigation and reputational damage. The company previously disclosed a December 2023 third-party application flaw that enabled unauthorized access to certain corporate applications, including support applications with customer contact information and account metadata.
Stringent and evolving data privacy and security laws, including GDPR, CCPA, NIS2, DORA and the EU AI Act, increase compliance costs and potential fines. The EU AI Act entered into force on August 1, 2024, with the first set of provisions taking effect on February 2, 2025.
Non-cancelable multi-year capacity commitments with third-party cloud providers require payment irrespective of actual usage, which could pressure gross margins and operating results if Atlas usage slows.
The sales cycle is generally three to nine months and can extend to more than a year for some customers. Rising inflation and interest rates and global economic uncertainty may cause customers to delay technology spending and further extend the sales cycle.
The company relies on highly skilled personnel, including engineering, professional services, sales and technology professionals, and expects significant competition for employees with AI and ML expertise. Failure to retain or motivate key personnel could harm the business.
Community Server is offered under the SSPL or AGPL, and the SSPL has not been approved by the Open Source Initiative. A court could hold either license unenforceable, and competitors could use the open source software to compete in ways that limit MongoDB's ability to monetize and protect its intellectual property.
The company releases earnings guidance that is inherently speculative and subject to macroeconomic uncertainty. If actual results fall below guidance or analyst expectations, the stock price could decline substantially.
The Share Repurchase Program has $499.7 million remaining as of April 30, 2026, and does not obligate the company to repurchase any specific number of shares. Repurchases reduce cash available for working capital, capital expenditures and other corporate purposes.
SaaS KPIs
All quarters →Total Customers
MongoDB Atlas Customers
Free Cash Flow
Net ARR Expansion Rate
Non-GAAP Gross Margin
Non-GAAP Operating Margin
Summary, forecast, risks and KPIs are extracted from MongoDB, Inc.'s SEC filings for Q1 FY2027 (10-Q / 10-K and the 8-K earnings release); GAAP figures in the summary are checked against the reported XBRL data. They can contain errors; the filings are authoritative. Processed Oct 1, 2026.