Takeaways by Saasverse AI
- $591.4M Revenue (24% YoY Growth) | Operating Margin -11%, Free Cash Flow Margin 11.8%, Non-GAAP Operating Profit $86.8M (15% Margin)
- Atlas Cloud Revenue +29% YoY, Accounts for 74% of Total Revenue | Subscription Revenue $572.4M (+23% YoY)
- Customer Base Surpasses 59,900 (+2,800 QoQ) | Stock Up 29% Post-Earnings on Raised Guidance
MongoDB delivered a stellar financial performance in its Q2 FY2026 earnings report, smashing Wall Street expectations and signaling robust growth across its core business metrics. The company reported revenue of $591.4 million for the quarter ending July 31, 2025, marking a 24% year-over-year increase and significantly surpassing the consensus estimate of $478.1 million. Flagship cloud product Atlas led the charge, with revenue soaring 29% YoY and now contributing a substantial 74% of MongoDB’s total revenue. Subscription revenue reached $572.4 million (+23% YoY), while services revenue also impressed, growing 33% to $19 million.
MongoDB’s customer acquisition momentum remained strong, with over 2,800 new customers added in Q2, bringing its total customer count to more than 59,900. This growth reflects the increasing adoption of MongoDB’s database solutions among enterprises and developers worldwide. The company also demonstrated meaningful improvements in profitability metrics: its operating margin improved to -11% from -14.9% a year ago, while its free cash flow margin reached an impressive 11.8%. Non-GAAP operating profit stood at $86.8 million, representing a 15% margin.
CEO Dev Ittycheria highlighted the company’s operational excellence and strategic positioning in his remarks: “MongoDB delivered another quarter of strong, broad-based performance. Atlas achieved accelerated revenue growth of 29%, and we added over 5,000 customers in the first half of the year—a company record. We also achieved significant margin expansion. Based on our strong results, we are raising full-year revenue and profit guidance.”
MongoDB projects Q3 FY2026 revenue in the range of $587 million to $592 million. For the full fiscal year, the company revised its revenue guidance upward to $2.34 billion to $2.36 billion, a 3.5% increase from prior forecasts. Additionally, MongoDB raised its non-GAAP EPS guidance to $3.64–$3.73. This upbeat outlook, combined with the robust Q2 results, sent MongoDB’s stock surging 29% in after-hours trading.
Saasverse Insights
MongoDB’s performance underscores its pivotal role in the cloud database market, with Atlas continuing to capture enterprise demand for scalable, high-performance data solutions. However, competitive pressures from players like Snowflake and traditional database providers remain key risks. Nevertheless, the company’s accelerating growth, operational improvements, and elevated guidance suggest MongoDB is well-positioned to capitalize on favorable industry tailwinds in cloud and data services.