Summary
MongoDB reported third quarter fiscal 2026 revenue of $628.31 million, up 18.7% from $529.38 million in the prior-year quarter. Gross profit rose 14.0% to $449.13 million. Gross margin slipped to 71.5% from 74.4%, a decline of 3.0 percentage points. The company posted an operating loss of $18.42 million, but that loss narrowed from $27.88 million a year earlier. Net loss narrowed to $2.01 million from $9.78 million. Operating margin improved to negative 2.9% from negative 5.3%. For the first nine months of fiscal 2026, revenue was $1.77 billion, up 21.3% from $1.46 billion. Year-to-date gross profit was $1.26 billion, up 17.6%. The year-to-date operating loss narrowed to $137.27 million from $197.50 million, and the year-to-date net loss narrowed to $86.68 million from $144.90 million. Year-to-date gross margin was 71.2%, down from 73.5%, while operating margin improved to negative 7.8% from negative 13.5%.
Cash generation was a bright spot. Operating cash flow for the quarter was $143.51 million, up from $37.44 million in the prior-year quarter. Capital expenditures were $1.68 million, down from $1.98 million. For the first nine months, operating cash flow was $325.54 million, up from $99.65 million, and capital expenditures were $3.83 million, up 7.1% from $3.57 million. Deferred revenue at quarter end was $367.00 million, up 20.4% from $304.90 million a year earlier. Remaining performance obligations stood at $994.30 million.
Operationally, MongoDB Atlas continued to drive the business. Atlas represented 75% of total revenue in the quarter, up from 68% a year earlier. The company had over 62,500 customers as of October 31, 2025, compared with over 52,600 a year earlier. Atlas customers grew to over 60,800 from over 51,100. Direct sales customers were over 7,000, down from over 7,400. Customers with $100,000 or greater in annualized recurring revenue and annualized monthly recurring revenue reached 2,694, up from 2,314. Net ARR expansion rate was 120%. Total headcount increased to 5,639 from 5,436. MongoDB's platform has been downloaded more than 650 million times since February 2009. IDC estimates the worldwide data management software market was $93 billion in 2024 and will grow to approximately $169 billion in 2029, a 13% five-year compound annual growth rate. In a separate announcement, MongoDB named Chirantan CJ Desai as President and CEO effective November 10, 2025. Dev Ittycheria, who led the company for 11 years, will remain on the board and serve as an advisor. Management said preliminary third quarter fiscal 2026 results are expected above the high end of its prior guidance ranges for revenue, non-GAAP income from operations, and non-GAAP earnings per share, driven by continued strength in Atlas. Final results are scheduled for December 1, 2025.
Risks remain. MongoDB expects macroeconomic headwinds on growth rate for existing Atlas applications in the short term. Gross margin may decline as Atlas revenue increases because of associated hosting costs. The company has a history of losses and expects to continue to incur operating losses. It may need additional capital to execute strategic initiatives. Other risks include competition, global political changes, the effects of military conflicts between Russia and Ukraine and Israel and Hamas, and liabilities or reputational harm from AI use in products and internal operations. The leadership transition also carries execution risk as the new CEO takes over. The company's net ARR expansion rate may fluctuate due to the volume and type of workloads, growth rate of historical workloads, and changes in the macroeconomic environment.
Forecast
Reported figures
GAAP, from SEC filings| Metric | Q3 FY2026 | Q2 FY2026 | QoQ | Q3 FY2025 | YoY |
|---|---|---|---|---|---|
| Revenue | $628.3M | $591.4M | +6.2% | $529.4M | +18.7% |
| Gross profit | $449.1M | $420.0M | +6.9% | $394.0M | +14.0% |
| Gross margin | 71.5% | 71.0% | +0.5 pp | 74.4% | -3.0 pp |
| Research & development | $176.6M | $181.7M | -2.8% | $151.4M | +16.6% |
| Sales & marketing | $230.9M | $244.1M | -5.4% | $218.0M | +5.9% |
| General & administrative | $60.1M | $59.5M | +1.0% | $52.6M | +14.3% |
| Total operating expenses | $467.6M | $485.3M | -3.6% | $421.9M | +10.8% |
| Operating income (loss) | -$18.4M | -$65.3M | +71.8% | -$27.9M | +33.9% |
| Operating margin | -2.9% | -11.0% | +8.1 pp | -5.3% | +2.3 pp |
| Net income (loss) | -$2.0M | -$47.0M | +95.7% | -$9.8M | +79.5% |
| Net margin | -0.3% | -8.0% | +7.6 pp | -1.9% | +1.5 pp |
| Customers | 62,500 | 59,900 | +4.3% | 1,225,009 | -94.9% |
Risks
MD&A states adverse macroeconomic conditions resulted in slower than historical growth of existing MongoDB Atlas applications for the nine months ended October 31, 2025, and the company expects macroeconomic headwinds on the growth rate for existing Atlas applications in the short term.
MongoDB Atlas revenue represented 75% and 74% of total revenue for the three and nine months ended October 31, 2025, up from 68% and 70% in the prior-year periods, so failure of Atlas to satisfy customer demands or slower usage could materially affect results.
Gross margin decreased to 71.5% in FY2026 Q3 from 74.4% in FY2025 Q3, and the company expects gross margin may decline as MongoDB Atlas revenue increases as a percentage of total revenue due to associated hosting costs.
The company has non-cancelable multi-year cloud infrastructure capacity commitments requiring payment irrespective of actual usage, and during the nine months ended October 31, 2025 entered a renewal with a cloud provider including a $300 million non-cancelable commitment through October 2028.
The business depends on customers renewing and expanding subscriptions; net ARR expansion rate was 120% as of October 31, 2025, and Direct Sales Customers decreased to over 7,000 as of October 31, 2025 from over 7,400 as of October 31, 2024.
The company faces intense competition from legacy database providers IBM, Microsoft, and Oracle and from public cloud providers AWS, Google Cloud Platform, and Microsoft Azure, which can bundle competing products and have greater resources.
Risk factors were expanded on AI and ML, including competitors incorporating AI and ML more quickly, the need to attract AI and ML talent, EU AI Act compliance, and security risks from generative AI such as deepfake phishing and malware.
A December 2023 third-party application flaw enabled unauthorized access to certain corporate applications including customer contact information and account metadata, and industry reports describe ransomware attacks on MongoDB instances due to Community Server users not enabling recommended security settings.
The sales cycle is generally three to nine months and can exceed a year, and rising inflation and interest rates and global economic uncertainty may cause potential customers to delay technology spending and extend the sales cycle.
Community Server is offered under the SSPL, which has not been approved by the Open Source Initiative or included in the Free Software Foundation list of free software licenses, and if the AGPL or SSPL is held unenforceable, others could use the software to compete.
The company is subject to GDPR, UK GDPR, CCPA, and other privacy laws with fines up to 20 million euros or 4% of global turnover, and the EU AI Act and emerging state AI legislation create additional compliance costs.
The company relies on highly skilled personnel including senior management and engineering, professional services, sales, and technology professionals, and expects significant competition for professionals with AI and ML expertise.
The company may fail to meet publicly announced guidance or analyst expectations, which could cause its stock price to decline and lead to costly securities litigation.
SaaS KPIs
All quarters →Total Customers
MongoDB Atlas Customers
Direct Sales Customers
Net ARR Expansion Rate
Summary, forecast, risks and KPIs are extracted from MongoDB, Inc.'s SEC filings for Q3 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.