Q2 FY2027
Filed Sep 1, 2026Second quarter fiscal 2027 total revenue of $771.8 million, up 30% year-over-year; full year fiscal 2027 guidance raised.
Revenue grew 30% year-over-year, GAAP operations turned profitable, non-GAAP operating margin expanded to 24% from 15%, free cash flow nearly doubled, and the company raised full year fiscal 2027 guidance.
Key metrics
as reported| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenueGAAP | $771.8 million | – | 30% |
| Subscription revenueGAAP | $747.1 million | – | 31% |
| Services revenueGAAP | $24.6 million | – | 29% |
| Gross profitGAAP | $569.8 million | – | – |
| Gross marginGAAP | 74% | – | – |
| Gross profitnon-GAAP | $585.7 million | – | – |
| Gross marginnon-GAAP | 76% | – | – |
| Sales and marketing operating expenseGAAP | $253,071 (in thousands of U.S. dollars) | – | – |
| Research and development operating expenseGAAP | $213,874 (in thousands of U.S. dollars) | – | – |
| General and administrative operating expenseGAAP | $74,420 (in thousands of U.S. dollars) | – | – |
| Total operating expensesGAAP | $541,365 (in thousands of U.S. dollars) | – | – |
| Sales and marketing operating expensenon-GAAP | $215,740 (in thousands of U.S. dollars) | – | – |
| Research and development operating expensenon-GAAP | $137,369 (in thousands of U.S. dollars) | – | – |
| General and administrative operating expensenon-GAAP | $46,732 (in thousands of U.S. dollars) | – | – |
| Income (loss) from operationsGAAP | $28.4 million | – | – |
| Operating marginGAAP | 4% | – | – |
| Income from operationsnon-GAAP | $185.9 million | – | – |
| Operating marginnon-GAAP | 24% | – | – |
| Net income (loss)GAAP | $40.9 million | – | – |
| Net income per share, basicGAAP | $0.51 | – | – |
| Net income per share, dilutedGAAP | $0.50 | – | – |
| Non-GAAP net incomenon-GAAP | $162.6 million | – | – |
| Non-GAAP net income per share, fully dilutednon-GAAP | $1.90 | – | – |
| Remaining Performance Obligationsother | $1,519.2 million | – | 91% |
| Current Remaining Performance Obligationsother | $797.3 million | – | 73% |
| Total customersother | 70,600+ | – | – |
| MongoDB Atlas customersother | 69,300+ | – | – |
| Customers over $100Kother | 2,999 | – | – |
| MongoDB Enterprise Advanced percentage of subscription revenueother | 21% | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| SubscriptionSubscription revenue was reported as the principal revenue category. | $747.1 million | – | 31% |
| ServicesServices revenue was reported as a separate revenue category. | $24.6 million | – | 29% |
| Atlas-relatedAtlas revenue was up approximately 29% year-over-year in the second quarter fiscal 2027. | $565,916 (in thousands of U.S. dollars) | – | – |
| MongoDB Enterprise Advanced and otherEA & other revenue was up approximately 36% year-over-year in the second quarter fiscal 2027. | $181,231 (in thousands of U.S. dollars) | – | – |
| AmericasRevenue is disaggregated based on the address of the Company's customers. | $478,261 (in thousands of U.S. dollars) | – | – |
| EMEARevenue is disaggregated based on the address of the Company's customers. | $210,298 (in thousands of U.S. dollars) | – | – |
| Asia PacificRevenue is disaggregated based on the address of the Company's customers. | $83,214 (in thousands of U.S. dollars) | – | – |
Third Quarter Fiscal 2027 and Full Year Fiscal 2027 outlook
- NoteThird Quarter Fiscal 2027 revenue: $756 million to $761 million
- NoteThird Quarter Fiscal 2027 GAAP income (loss) from operations: $(14.5) million to $(10.5) million
- NoteThird Quarter Fiscal 2027 non-GAAP income from operations: $152.0 million to $156.0 million
- NoteThird Quarter Fiscal 2027 GAAP net income per share: $0.00 to $0.05
- NoteThird Quarter Fiscal 2027 non-GAAP net income per share: $1.57 to $1.61
- NoteFull Year Fiscal 2027 revenue: $2.99 billion to $3.03 billion
- NoteFull Year Fiscal 2027 GAAP income (loss) from operations: $(28.0) million to $(8.0) million
- NoteFull Year Fiscal 2027 non-GAAP income from operations: $616.3 million to $636.3 million
- NoteFull Year Fiscal 2027 GAAP net income per share: $0.53 to $0.77
- NoteFull Year Fiscal 2027 non-GAAP net income per share: $6.39 to $6.58
Capital returns
- Repurchases of common stock were $(99,999) (in thousands of U.S. dollars) during the three months ended July 31, 2026.
- Repurchases of common stock were $(200,254) (in thousands of U.S. dollars) during the six months ended July 31, 2026.
- Taxes paid related to net share settlement of equity awards were $(59,356) (in thousands of U.S. dollars) during the three months ended July 31, 2026.
What drove it
- Management cited strength in core enterprise workloads and early momentum with AI use cases.
- MongoDB stated that strength spanned its run anywhere strategy across Atlas and Enterprise Advanced.
- MongoDB Search and Vector Search became generally available in MongoDB Enterprise Advanced.
- MongoDB launched the Atlas Managed MCP Server and announced four general-availability capabilities intended to improve AI retrieval in MongoDB Atlas.
- RPO increased 91% year-over-year and cRPO increased 73% year-over-year.
Concerns
- Third Quarter Fiscal 2027 GAAP income (loss) from operations guidance is $(14.5) million to $(10.5) million.
- Full Year Fiscal 2027 GAAP income (loss) from operations guidance is $(28.0) million to $(8.0) million.
- The filing identifies risks related to customer renewals and usage expansion, competition, economic conditions, geopolitical instability, AI and ML outcomes, platform security and privacy, and the development of the AI-related data infrastructure market.
What to watch
- Third Quarter Fiscal 2027 revenue guidance of $756 million to $761 million.
- Atlas performance, which management cited as the main driver of the H2 fiscal 2027 guidance raise.
- Execution of the Enterprise Advanced rollout of Search and Vector Search and Atlas AI-retrieval capabilities.
- RPO of $1,519.2 million and cRPO of $797.3 million.
- Whether non-GAAP operating margin remains near the reported 24% while the company funds product, AI, and go-to-market investments.
Balance sheet and cash flow
- Cash, cash equivalents, short-term investments and restricted cash were $2.4 billion as of July 31, 2026.
- Cash and cash equivalents were $1,002,401 (in thousands of U.S. dollars) as of July 31, 2026, compared with $1,083,540 (in thousands of U.S. dollars) as of January 31, 2026.
- Short-term investments were $1,408,853 (in thousands of U.S. dollars) as of July 31, 2026, compared with $1,303,701 (in thousands of U.S. dollars) as of January 31, 2026.
- Total assets were $3,777,688 (in thousands of U.S. dollars) as of July 31, 2026, compared with $3,758,848 (in thousands of U.S. dollars) as of January 31, 2026.
- Total liabilities were $797,707 (in thousands of U.S. dollars) as of July 31, 2026, compared with $806,490 (in thousands of U.S. dollars) as of January 31, 2026.
- Net cash provided by operating activities was $141.9 million, compared to $72.1 million in the year-ago period.
- Capital expenditures were $(2.5) million.
- Principal payments of finance leases were $(1.8) million.
- Free cash flow was $137.6 million, compared to $69.9 million in the year-ago period.
Analysis
MongoDB reported a strong second quarter of fiscal 2027, with total revenue of $771.8 million, up 30% year-over-year. Subscription revenue was $747.1 million and grew 31%, while services revenue was $24.6 million and grew 29%. Atlas-related revenue was $565,916 (in thousands of U.S. dollars), and MongoDB Enterprise Advanced and other revenue was $181,231 (in thousands of U.S. dollars). Management attributed performance to core enterprise workloads, early AI-use-case momentum, and strength across Atlas and Enterprise Advanced.
Profitability improved sharply. GAAP gross margin was 74%, versus 71% in the year-ago period, while non-GAAP gross margin was 76%, versus 74%. GAAP income from operations was $28.4 million, compared with a $65.3 million loss a year earlier. Non-GAAP income from operations was $185.9 million, and non-GAAP operating margin reached 24%, compared with 15% in the year-ago period. GAAP net income was $40.9 million, or $0.50 per diluted share, while non-GAAP net income was $162.6 million, or $1.90 per fully diluted share.
Demand indicators were also strong. RPO was $1,519.2 million, up 91% year-over-year, and cRPO was $797.3 million, up 73%. Total customers reached 70,600+, MongoDB Atlas customers reached 69,300+, and customers over $100K reached 2,999. MongoDB Enterprise Advanced represented 21% of subscription revenue, unchanged from both July 31, 2025 and April 30, 2026 in the supplemental table.
Cash generation strengthened as net cash provided by operating activities rose to $141.9 million from $72.1 million and free cash flow increased to $137.6 million from $69.9 million. The company repurchased $99,999 (in thousands of U.S. dollars) of common stock during the quarter. MongoDB ended July 31, 2026 with $2.4 billion in cash, cash equivalents, short-term investments and restricted cash.
Management raised full year fiscal 2027 guidance, stating that the H2 increase is mainly due to Atlas. The company expects third quarter revenue of $756 million to $761 million and full year revenue of $2.99 billion to $3.03 billion. The outlook calls for non-GAAP income from operations of $152.0 million to $156.0 million in the third quarter and $616.3 million to $636.3 million for the full year, but it continues to forecast GAAP operating losses in both periods.
Management, verbatim
We delivered strong second quarter results, highlighted by 30% year-over-year revenue growth—the highest level of growth in several years—and continued strong profitability.
CJ Desai, President and Chief Executive Officer of MongoDB
This performance reflects the mission-critical role our platform plays for customers, with strength driven by core enterprise workloads and early momentum with AI use cases.
CJ Desai, President and Chief Executive Officer of MongoDB
We delivered a non-GAAP operating margin of 24%, up significantly from 15% a year ago, while free cash flow nearly doubled year-over-year to $137.6 million.
Mike Berry, Chief Financial Officer of MongoDB
Not in the filing
stated, not guessed- Previous-release outlook was not provided, so no comparison of actual results with prior guidance is available.
- Gross margin guidance was not provided.
- Operating-expense guidance was not provided.
- Tax-rate guidance was not provided.
- Debt balances were not reported.
- Dividend declaration or payment information was not reported.
- Prior-quarter comparisons for second-quarter revenue, profitability, cash flow, RPO, and cRPO were not reported.
- Percentage growth comparisons for Atlas-related revenue, MongoDB Enterprise Advanced and other revenue, services revenue in the supplemental product-category table, and geographic revenue were not reported on those individual table rows.
AlphAI analysis generated from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure was cross-checked against the filing text; consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.