MongoDB Q1 Results Beat Estimates, Atlas Grows 82%
<p><a href='https://financialmodelingprep.com/financial-summary/MDB'>MongoDB, Inc. (NASDAQ:MDB)</a> reported its Q1 earnings, beating Street estimates behind another strong quarter of Atlas growth (up 82% year-over-year), better-than-expected EA growth (up 30% year-over-year), and lower-than-expected OpEx.</p>
<p>Quarterly EPS came in at ($0.20), worse than the Street estimate of ($0.09), while revenue of $285.4 million beats the Street estimate of $266.45 million.</p>
<p>Oppenheimer analysts said they continue to be impressed by the growth in Atlas, which benefited from strong in-quarter expansion. Atlas saw a 1% revenue headwind from a slowdown in consumption in the self-serve and mid-market channels in Europe, which management expects to spread to other geographies as the year progresses. </p>
<p>While the analysts are keeping an eye on this trend, they believe the company has significantly strengthened its enterprise value proposition and believe it can continue its strong Atlas momentum.</p>
<p>The company expects Q2/23 EPS to range from ($0.31) to ($0.28), compared to the Street estimate of ($0.14), and revenue in the range of $279-282 million, compared to the Street estimate of $277.85 million.</p>

NASDAQ:MDB