MongoDB (NASDAQ:MDB) rallied more than 22% in U.S. premarket trading after the database software provider sharply upgraded its full-year guidance on the back of a standout third-quarter report.
The company said accelerating adoption of its Atlas cloud database platform helped drive the revision. MongoDB now expects fiscal 2026 adjusted earnings of $4.76 to $4.80 per share, with revenue between $2.43 billion and $2.44 billion.
This marks a sizeable jump from its previous forecast of $3.64 to $3.73 per share in adjusted earnings and $2.34 billion to $2.36 billion in revenue.
For the third quarter, MongoDB posted $1.32 per share in earnings on $628.3 million in revenue — well above analyst expectations of $0.81 and $593.8 million, respectively.
Customer momentum remained strong as Atlas users climbed to over 60,800, compared with more than 51,100 at the same time last year.
Looking to the current quarter, the company anticipates adjusted earnings of $1.44 to $1.48 per share, while guiding for revenue of $665 million to $670 million.
In a research note, Truist Securities analysts said the new full-year outlook “calls for improved Atlas growth versus [MongoDB’s] prior expectation as well as stronger non-Atlas business on the back of multi-year deal traction.”
They noted that while “tailwinds” from artificial intelligence “have not factored prominently […] at this point,” there is “evidence of early wins as promising for the next potential leg of growth.”
The analysts added: “We believe that AI projects rolling to production could drive upside to expectations for the year ahead.”