MongoDB plummets 20% as weak outlook overshadows strong quarterly results

MongoDB shares cratered more than 20% after the database software maker shared weak guidance that signaled a slowdown in growth. For the fiscal 2026 year, the company said it expects adjusted earnings to range between $2.44 to $2.62 per share and revenue of $2.24 billion to $2.28. Analysts were expecting EPS of $3.34 and $2.32 billion in revenue. The weak guidance stems from slower growth in the company's Atlas cloud-based database service. The revenue projection would imply 12.7% growth, the slowest for the company going back to its 2017 stock market debut. Finance chief Srdjan Tanjga said during an earnings call that the company is seeing slower-than-expected growth in new applications harnessing its Atlas cloud-based database service. However, MongoDB is beefing up hiring and going after deals with larger companies. ... Read full article.