Summary
MongoDB's second quarter fiscal 2026 revenue reached $591.4 million, up 23.7% from the prior-year quarter. Atlas revenue grew 29% year over year and made up 74% of total Q2 revenue. The company added 2,800 customers in the quarter, bringing total customers to over 59,900 as of July 31, 2025. Net ARR expansion rate was approximately 119%. Direct sales customers stood at over 7,300, while Atlas customers reached over 58,300. Customers with at least $100,000 in annualized recurring revenue totaled 2,564. Headcount rose to 5,654 from 5,360 a year earlier.
Profitability improved on a GAAP basis. Gross profit was $420.0 million, up 20.0% year over year, while gross margin slipped to 71.0%, down 2.2 percentage points. The operating loss narrowed to $65.3 million. Net loss narrowed to $47.0 million, or -$0.58 per share. On a non-GAAP basis, income from operations was $86.8 million and net income was $87.2 million, or $1.00 per share. Operating cash flow was $72.1 million, up from the year-ago period. Free cash flow, a non-GAAP measure, was $69.9 million. Capital expenditures were $0.5 million, down from the year-ago period. Deferred revenue was $309.2 million, down 4.2% year over year. Remaining performance obligations were $794.2 million.
Year-to-date results show revenue of $1.14 billion, up 22.8% from the prior-year period. Gross profit was $810.9 million, up 19.7%. The operating loss narrowed to $118.8 million, and net loss narrowed to $84.7 million, or -$1.04 per share. Operating cash flow was $182.0 million, up 192.6%. Capital expenditures were $2.1 million, up 35.1%. Gross margin was 71.1%, down 1.9 percentage points, and operating margin was -10.4%, up 7.8 percentage points.
Guidance for the third quarter of fiscal 2026 calls for non-GAAP income from operations of $66.0 million to $70.0 million and non-GAAP net income per share of $0.76 to $0.79. For the full fiscal year 2026, MongoDB guided non-GAAP income from operations to $321.0 million to $331.0 million and non-GAAP net income per share to $3.64 to $3.73. Management said it raised guidance on the top and bottom line for the rest of the year. The company noted that reconciliations of non-GAAP guidance to the most directly comparable GAAP measures are not available without unreasonable efforts.
Risks remain. The macroeconomic environment negatively affected the business during the six months ended July 31, 2025, and MongoDB expects macroeconomic headwinds on growth for existing Atlas applications in the short term. It also expects the macro environment to continue to negatively impact revenue growth. Gross margin may decline as Atlas revenue increases as a percentage of total revenue because of hosting costs. The company has a history of losses and may need additional capital. Competition, customer renewals, AI-related liabilities, and the need to expand the sales organization are other risks. Direct sales customers were flat at over 7,300. The company repurchased shares and authorized additional repurchases.
Product momentum included new Voyage AI models, expanded partnerships with LangChain, and additions to the AI partner ecosystem such as Temporal and Galileo. MongoDB committed to FedRAMP High and DoD Impact Level 5 authorizations for Atlas for Government. MongoDB Enterprise Advanced is now listed in the AWS Marketplace for the U.S. Intelligence Community. The company also kicked off its .local series in cities including Bangkok, Bengaluru, Delhi, Jakarta, Milan, Sao Paolo, and Sydney. These efforts aim to support AI application development and public sector adoption.
Forecast
Reported figures
GAAP, from SEC filings| Metric | Q2 FY2026 | Q1 FY2026 | QoQ | Q2 FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | $591.4M | $549.0M | +7.7% | $478.1M | +23.7% |
| Gross profit | $420.0M | $391.0M | +7.4% | $349.9M | +20.0% |
| Gross margin | 71.0% | 71.2% | -0.2 pp | 73.2% | -2.2 pp |
| Research & development | $181.7M | $168.8M | +7.6% | $149.0M | +22.0% |
| Sales & marketing | $244.1M | $220.9M | +10.5% | $221.5M | +10.2% |
| General & administrative | $59.5M | $54.8M | +8.6% | $50.8M | +17.1% |
| Total operating expenses | $485.3M | $444.5M | +9.2% | $421.3M | +15.2% |
| Operating income (loss) | -$65.3M | -$53.6M | -21.9% | -$71.4M | +8.6% |
| Operating margin | -11.0% | -9.8% | -1.3 pp | -14.9% | +3.9 pp |
| Net income (loss) | -$47.0M | -$37.6M | -25.0% | -$54.5M | +13.7% |
| Net margin | -8.0% | -6.8% | -1.1 pp | -11.4% | +3.5 pp |
| Customers | 59,900 | 57,100 | +4.9% | 792,071 | -92.4% |
Risks
MD&A states adverse macroeconomic conditions negatively impacted the business during the six months ended July 31, 2025 and expects macroeconomic headwinds on the growth rate for existing MongoDB Atlas applications in the short term. It also says the macro environment negatively affected growth of existing Atlas applications and revenue growth.
MongoDB Atlas represented 74% of total revenue in FY2026 Q2, up from 71% in FY2025 Q2, and the company expects to continue deriving more than the majority of revenue from Atlas. Slower customer consumption or failure to meet Atlas demand could materially affect results.
MongoDB has non-cancelable multi-year cloud infrastructure capacity commitments that require payment irrespective of actual usage, and subscription cost of revenue increased 31% in FY2026 Q2 due to third-party cloud infrastructure costs. If Atlas usage grows slower than expected, margins and operating results could be pressured.
Risk factors materially expanded on AI and ML, including the EU AI Act, generative AI security threats, and competitors incorporating AI more quickly. MongoDB may incur additional R&D and compliance costs and face liability if AI outputs are deficient or infringe third-party rights.
The sales cycle is generally three to nine months and can extend beyond a year for some customers, and macro uncertainty plus rising inflation and interest rates may extend it further. This can delay revenue recognition and increase quarterly variability.
MongoDB faces intense competition from legacy database providers such as IBM, Microsoft, and Oracle and from cloud providers such as AWS, Google Cloud Platform, and Microsoft Azure, which can bundle competing products and have greater resources. This may pressure pricing and customer acquisition.
A December 2023 third-party application flaw enabled unauthorized access to certain corporate applications, including customer contact information and related account metadata, though no unauthorized access to MongoDB Atlas clusters was found. Future incidents could lead to litigation, regulatory investigations, and customer loss.
The SSPL and AGPL enforceability and the Community Server licensing model could limit MongoDB's ability to monetize and protect intellectual property, and competitors could use open source code to compete. The SSPL has not been approved by the Open Source Initiative or included in the Free Software Foundation list.
MongoDB relies on highly skilled personnel, including senior management and engineering, professional services, sales, and technology professionals, and expects significant competition for AI and ML expertise. Failure to retain or motivate key personnel could harm the business.
Gross margin decreased to 71% in FY2026 Q2 from 73% in FY2025 Q2, and subscription gross margin declined to 76% due to an increase in MongoDB Atlas revenue as a percentage of total revenue. Continued Atlas mix shift may further pressure gross margin.
SaaS KPIs
All quarters →Total Customers
MongoDB Atlas Customers
Direct Sales Customers
Free Cash Flow
Net ARR Expansion Rate
Customers over $100K ARR
Non-GAAP Operating Margin
Customers Added
Summary, forecast, risks and KPIs are extracted from MongoDB, Inc.'s SEC filings for Q2 FY2026 (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.