MongoDB stock jumps more than 10% after narrower Q2 loss
Shares of MongoDB Inc. rallied more than 10% in the extended session late Thursday after the software company reported a narrower-than-expected adjusted loss and sales that were above Wall Street forecasts as businesses continued to accelerate their digital presence. MongoDB said it lost $77.1 million, or $1.22 a share, in the second quarter, compared with a loss of $64.5 million, or $1.10 a share, in the year-ago period. Adjusted for one-time items, MongoDB lost 24 cents a share. Revenue rose 44% to $199 million, the company said. FactSet consensus called for a loss of 39 cents a share on sales of $184 million. The company guided for revenue between $202 million and $204 million for the third quarter, and between $805 million and $811 million for full-year fiscal 2022. It also called for an adjusted loss between 42 cents and 39 cents for the current quarter, and a fiscal-2022 loss between $1.20 and $1.13. The analysts polled by FactSet expect a loss of $1.29 for the fiscal year. "MongoDB's second quarter results were exceptionally strong across the board," Chief Executive Dev Ittycheria said in a statement. "Our performance reflects the desire of nearly every business to use a modern application data platform that enables them to accelerate the pace of their digital innovation agenda." MongoDB shares ended the regular trading day up 2.1%.
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