MongoDB Surges as Earnings and Revenue Beat Projections, CFO to Step Down

MongoDB (NASDAQ:MDB) experienced a strong aftermarket rally on Monday, with shares climbing around 11%, following the release of its quarterly financial results. The database software company delivered a standout performance for the third quarter, surpassing both profit and revenue estimates.

The company reported a 22% revenue increase, reaching $529.4 million, well above analysts' expectations of $497.65 million. Non-GAAP earnings per share also exceeded predictions, landing at $1.16 compared to an estimated 67 cents.

For fiscal 2025, MongoDB set its revenue forecast between $1.973 billion and $1.977 billion, with projected non-GAAP earnings per share ranging from $3.01 to $3.03.

In a key leadership update, MongoDB revealed that its Chief Operating Officer and Chief Financial Officer, Michael Gordon, would step down at the end of January. Gordon plans to transition into an advisory capacity to facilitate a smooth handover. The company has initiated the search for a new CFO, considering both internal and external candidates.