Free Post Earnings Research Report: MongoDB’s Revenues Surged 57.72%; Beat Expectations
LONDON, UK / ACCESSWIRE / January 10, 2018 / Active-Investors.com has just released a free earnings report on MongoDB, Inc. (NASDAQ: MDB). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=MDB. MongoDB posted its third quarter fiscal 2018 (Q3 FY18) financial results on December 12, 2017. The leading modern general-purpose database platform operators' gross profit soared 59.37% on a y-o-y basis. Register today and get access to over 1,000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, MongoDB most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
MongoDB completed its initial public offering (IPO) and listed its shares on the NASDAQ Global Market in October 2017, which will enable them to execute their long-term growth initiatives.
Earnings Figures
During the third quarter of the fiscal year 2018, MongoDB posted net sales of $41.49 million compared to $26.31 million Q3 FY17, reflecting an increase of 57.72% on a y-o-y basis. Revenue numbers beat analysts' estimates of $39.60 million.
The Company's gross profit was $30.42 million in Q3 FY18 compared to $19.09 million in Q3 FY17, advancing 59.37% on a y-o-y basis. The selling, general, and administrative expenses (SG&A) amounted to $9.83 million in Q3 FY18 compared to $6.39 million in Q3 FY17, increasing 53.94% on a y-o-y basis. MongoDB's loss from operations was $24.05 million in the reported quarter compared to $19.26 million in Q3 FY17, increasing 24.90% on a y-o-y basis.
The Company reported a net loss of $24.22 million in Q3 FY18 compared to $19.54 million in Q3 FY17, increasing 23.96% on a y-o-y basis. MongoDB's net loss per share was $1.39 in the reported quarter compared to $1.57 in the third quarter of the previous fiscal year, decreasing 11.46% on a y-o-y basis.
MongoDB's Segment Details
MongoDB has two business segments, namely: (i) Subscription and (ii) Services.
The Subscription segment reported net sales of $37.89 million in Q3 FY18 compared to $23.81 million in Q3 FY17, surging 59.15% on a y-o-y basis. Cost of sales was $7.90 million for the reported quarter compared to $4.98 million in Q3 FY17, increasing 58.68% on a y-o-y basis.
The Services segment posted net sales of $3.60 million in Q3 FY18 compared to $2.50 million in Q3 FY17, increasing 44.12 % on a y-o-y basis. Cost of sales was $3.17 million for the reported quarter compared to $2.24 million in Q3 FY17, increasing 41.51% on a y-o-y basis.
IPO Update
MongoDB sold 9,200,000 shares of its Class A common stock at a price of $24.00 per share in October 2017, including the full exercise of the underwriters' option to purchase an additional 1,200,000 shares of Class A common stock, for a total of approximately $201.6 million in net proceeds after taking into account underwriting costs and offering costs.
Cash Matters
MongoDB had cash and cash equivalents of $243.27 million as on October 31, 2017, compared to $43.86 million as on October 31, 2016. Cash outflow from operating activities was $37.17 million in the reported quarter compared to $27.99 million in Q3 FY17. The Company announced the availability of MongoDB Atlas on Amazon Web Services (AWS) Marketplace. It also announced MongoDB 3.6, with various innovations and enhancements, including expanded partnerships with Infosys and Tableau.
Outlook
For Q4 FY18, non-GAAP loss from operations of the Company is expected to be in the range of $21.00 million to $21.50 million and net loss per share to be in the band of $0.42 to $0.43. The Company is forecasting revenue growth to be in the range of $42.00 million to $42.50 million. For the fiscal year 2018, MongoDB expects loss from operations to be in the range of $76.00 million to $76.50 million and net loss per share to be in the band of $1.76 to $1.77.
Stock Performance Snapshot
January 09, 2018 - At Tuesday's closing bell, MongoDB's stock slightly declined 0.07%, ending the trading session at $28.79.
Volume traded for the day: 88.40 thousand shares.
Stock performance in the last month – up 8.15%
After yesterday's close, MongoDB's market cap was at $1.46 billion.
The stock is part of the Technology sector, categorized under the Application Software industry.
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