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1. Company Snapshot

1.a. Company Description

MongoDB, Inc.provides general purpose database platform worldwide.The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.


It also provides professional services comprising consulting and training.The company was formerly known as 10gen, Inc.and changed its name to MongoDB, Inc.


in August 2013.MongoDB, Inc.was incorporated in 2007 and is headquartered in New York, New York.

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1.b. Last Insights on MDB

Breaking News: MongoDB reported strong Q3 performance with results surpassing expectations for both revenue and EPS. The company provided upbeat guidance, driving the stock to new highs. 9 analysts hiked estimates after the blockbuster results, citing "very positive growth momentum". However, some analysts note MongoDB needs to define itself against growing companies like Snowflake to succeed long-term. Key metrics for Q3 earnings are being analyzed, with revenue and EPS giving a sense of business performance. Analysts are recommending buy, with no sell recommendations.

1.c. Company Highlights

2. MongoDB's Q2 Earnings: A Strong Performance with Growth Momentum

MongoDB reported a robust Q2 2026 with revenue reaching $591 million, up 24% year over year, and an operating margin of 15%. Earnings per share (EPS) came in at $1, significantly beating estimates of $0.67. The strong financial performance was driven by the continued growth of Atlas, MongoDB's cloud database service, which saw revenue grow 29% year over year. The company's ability to drive higher-quality workloads in larger accounts has been a significant contributor to its growth, with Dev Ittycheria noting that the company is acquiring higher-quality workloads that grow faster and longer than previous workloads.

Publication Date: Aug -29

📋 Highlights
  • Revenue Growth: Q2 revenue reached $591M (+24% YoY), with Atlas revenue growing 29% YoY.
  • Customer Expansion: Added 5,000+ customers in two quarters, driven by enterprise adoption and AI interest.
  • Full-Year Guidance Raised: Revenue projected to $2.34–$2.36B (+14–16% YoY), with operating margin targeting 14% at the high end.
  • Net ARR Retention: Total company net ARR expansion rate hit 119%, reflecting strong customer retention and upselling.
  • Cash Position: Ended Q2 with $2.3B in cash and $72M operating cash flow, supporting long-term R&D investments in AI and scalability.

Atlas Growth and Customer Adoption

The growth of Atlas was a key highlight of the quarter, with the service continuing to gain traction among customers. MongoDB added over 5,000 customers in the last two quarters, and the company's enterprise-ready database, flexible document model, and AI capabilities are driving customer adoption. The company's unified platform is resonating strongly across industries and geographies, positioning MongoDB for continued growth.

AI Capabilities and Future Growth

MongoDB is also making significant strides in AI, with its JSON database, search and vector search capabilities, and memory features making it well-suited to support the shift towards a multi-agent world. While it's still early days for AI adoption, MongoDB is seeing interest from customers, including startups like DevRev, which is building an agentic platform on MongoDB. Analysts estimate next year's revenue growth at 18.6%, and with a current P/S Ratio of 11.48, it's clear that the market is pricing in significant growth expectations.

Valuation and Outlook

With a P/E Ratio of -321.41 and an EV/EBITDA of -332.34, MongoDB's valuation is certainly rich, reflecting the market's expectations for future growth. However, the company's strong financial performance and growth momentum suggest that the stock may continue to be supported in the near term. As MongoDB continues to expand its platform capabilities and drive customer adoption, investors will be watching to see if the company can meet the high expectations priced into its valuation.

3. NewsRoom

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Snowflake's Q3 Success Overshadowed by Cautious Q4 Outlook and Valuation Concerns

Dec -04

Source: gurufocus.com

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MongoDB Stock Has Soared This Year. Is It Too Late to Buy?

Dec -04

Source: fool.com

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MongoDB, Inc. (MDB) Presents at UBS Global Technology and AI Conference 2025 Transcript

Dec -03

Source: seekingalpha.com

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First Look: Airbus trims targets, AWS AI, AEO hikes outlook

Dec -03

Source: gurufocus.com

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MongoDB: Good Q3 But Not A Buy Now (Rating Upgrade)

Dec -03

Source: seekingalpha.com

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Here's What Key Metrics Tell Us About MongoDB (MDB) Q3 Earnings

Dec -03

Source: zacks.com

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Why MongoDB Stock Surged Today

Dec -02

Source: fool.com

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MongoDB Just Surged to a New 52-Week High. Is This the Turnaround Investors Have Been Waiting For?

Dec -02

Source: fool.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (15.30%)

6. Segments

Data Processing

Expected Growth: 17.0%

The increasing demand for real-time data processing and analytics is driving the growth of this segment. As more businesses adopt data-driven strategies, the need for efficient data processing is becoming more critical. MongoDB's capabilities in this area position it well for growth, outpacing the global average growth rate of 15.3%. The rising adoption of IoT devices and streaming services further accelerates this growth. The segment is expected to benefit from the expanding data universe.

7. Detailed Products

MongoDB Atlas

A cloud-based, fully managed database-as-a-service that allows users to deploy, manage, and scale MongoDB deployments in the cloud.

MongoDB Enterprise Server

A commercial version of the MongoDB database that provides advanced security, scalability, and support features.

MongoDB Stitch

A backend-as-a-service that allows developers to build scalable, secure, and integrated applications with MongoDB.

MongoDB Charts

A data visualization tool that allows users to create interactive, web-based dashboards and charts from MongoDB data.

MongoDB Compass

A GUI tool for MongoDB that provides an intuitive interface for querying, indexing, and managing MongoDB data.

MongoDB University

A training and certification program that provides courses, tutorials, and certifications for MongoDB developers and administrators.

8. MongoDB, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

MongoDB's flexible data model and ability to handle large amounts of data make it difficult for substitutes to emerge.

Bargaining Power Of Customers

While customers have some bargaining power due to the availability of alternative NoSQL databases, MongoDB's strong brand recognition and large community of developers reduce this power.

Bargaining Power Of Suppliers

MongoDB's open-source nature and large community of contributors reduce the bargaining power of suppliers, making it difficult for them to exert significant influence.

Threat Of New Entrants

While new entrants may emerge, MongoDB's strong brand recognition, large community of developers, and established customer base create barriers to entry.

Intensity Of Rivalry

The NoSQL database market is highly competitive, with many established players, including Cassandra, Couchbase, and Amazon DynamoDB, leading to a high intensity of rivalry.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 52.03%
Debt Cost 3.95%
Equity Weight 47.97%
Equity Cost 9.89%
WACC 6.80%
Leverage 108.44%

11. Quality Control: MongoDB, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Tenable

A-Score: 4.3/10

Value: 5.7

Growth: 7.7

Quality: 4.6

Yield: 0.0

Momentum: 1.0

Volatility: 6.7

1-Year Total Return ->

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Stock-Card
Marqeta

A-Score: 4.2/10

Value: 5.4

Growth: 7.4

Quality: 3.4

Yield: 0.0

Momentum: 5.0

Volatility: 4.0

1-Year Total Return ->

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Stock-Card
MongoDB

A-Score: 4.1/10

Value: 4.0

Growth: 7.9

Quality: 4.2

Yield: 0.0

Momentum: 6.5

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
DigitalOcean

A-Score: 3.8/10

Value: 3.8

Growth: 9.2

Quality: 5.3

Yield: 0.0

Momentum: 2.5

Volatility: 2.0

1-Year Total Return ->

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Stock-Card
HashiCorp

A-Score: 3.8/10

Value: 4.2

Growth: 4.4

Quality: 3.6

Yield: 0.0

Momentum: 5.5

Volatility: 5.0

1-Year Total Return ->

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Stock-Card
Rapid7

A-Score: 3.6/10

Value: 3.7

Growth: 8.6

Quality: 4.8

Yield: 0.0

Momentum: 0.0

Volatility: 4.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

396.73$

Current Price

396.73$

Potential

-0.00%

Expected Cash-Flows