MongoDB, Inc. Q4 FY2026 earnings

MongoDB closed fiscal 2026 with fourth-quarter revenue of $695.1 million, up 27% from the prior-year quarter. Full-year revenue reached $2.46 billion, up 23%. Atlas revenue rose 29% year over year in both the fourth quarter and the full year, a sign that the cloud database continues to carry the growth story. Gross profit was $507.7 million, and gross margin was 73.0%, up from 72.8% a year earlier. The company also swung to an operating profit of $0.3 million from an operating loss of $18.6 million in the prior-year quarter. Net income was $15.5 million, down 1.9% from $15.8 million. For the full year, the net loss was $71.2 million, narrower than the $129.1 million loss a year earlier. Full-year diluted EPS was -$0.88, compared with -$1.73.

Customer metrics kept moving in the right direction. MongoDB added 2,700 customers in the quarter, bringing the total to over 65,200 as of January 31, 2026. Atlas customers reached over 63,900. Customers spending at least $100,000 in annualized recurring revenue totaled 2,799, up from 2,396 a year earlier. The net ARR expansion rate was 121% as of January 31, 2026. Deferred revenue was $470.7 million, up 30.8% from $359.8 million. Remaining performance obligations were $1.47 billion, up 96.9% from $748.0 million. That RPO jump points to a larger contracted backlog, though it can be lumpy. Atlas made up 73% of total revenue for the year, compared with 70% a year earlier, and MongoDB Enterprise Advanced was 21% of subscription revenue.

Cash generation was a standout. Fourth-quarter operating cash flow was $179.6 million, up from $50.5 million a year earlier. Full-year operating cash flow was $505.1 million, up from $150.2 million. Capital expenditures were only $1.1 million in the quarter, down from $26.0 million, as the company spent less on property and equipment. Free cash flow, a non-GAAP measure, was $176.7 million in the quarter, compared with $22.9 million a year earlier. MongoDB ended the year with a strong liquidity position after repurchasing $400.3 million of stock during fiscal 2026. It had $599.7 million remaining under its repurchase authorization. The company still has a history of losses and expects to keep investing in growth.

Guidance frames the next chapter. For the first quarter of fiscal 2027, management guided revenue to $659 million to $664 million. On a non-GAAP basis, first-quarter income from operations is expected to be $105.0 million to $109.0 million, and non-GAAP earnings per share is expected to be $1.15 to $1.19. For the full fiscal year 2027, revenue guidance is $2.860 billion to $2.900 billion. Full-year non-GAAP income from operations is guided to $545.0 million to $565.0 million, and non-GAAP earnings per share is guided to $5.75 to $5.93. The outlook implies continued growth but also a much lower GAAP profitability profile than the non-GAAP numbers, mainly because of stock-based compensation and other adjustments.

Risks and leadership changes deserve attention. Management flags macroeconomic headwinds on growth for existing Atlas applications in the short term. Competition remains intense, and MongoDB relies on third-party cloud infrastructure, which carries purchase obligations. The company has a history of losses and may need more capital for strategic initiatives. Geopolitical conflicts between Russia and Ukraine and Israel and Hamas, plus recent events in Venezuela, are listed as risks. AI and machine learning use in products and internal operations could create reputational or security problems if the benefits do not materialize. On the people side, Erica Volini joins as Chief Customer Officer on March 3, 2026, while President of Field Operations Cedric Pech and Chief Revenue Officer Paul Capombassis are leaving. Capombassis will stay as CRO through the end of the first quarter and serve as an advisor in the second quarter while the company searches for a new CRO. That transition adds execution risk to the sales motion, even as the core database and Atlas businesses look strong.