MongoDB Tops Forecasts
March 14, 2019
MongoDB reported financial results for the fourth quarter and fiscal year ended January 31, 2019.
The firm noted a loss per share of 17 cents vs. 38 cents which was expected. As to revenue MongoDB realized $85.5 million with only $74.0 million being anticipated by the Wall street.
"MongoDB's exceptional fourth quarter performance capped a record year for the company," said Dev Ittycheria, President and Chief Executive Officer of MongoDB. "MongoDB is being adopted by an ever increasing number of companies across diverse industries who recognize the power of our next-generation database platform to drive business performance, increase agility and shorten time to market."
Ittycheria added, "MongoDB Atlas, our fully managed global, multi-cloud database service, achieved a major milestone in the fourth quarter, surpassing $100 million in annualized revenue run rate less than three years from launch. At approximately one third of our revenue, MongoDB Atlas' tremendous growth highlights its compelling value to enable customers to focus on innovation and offload the operational burden of database management."