MongoDB (NASDAQ:MDB) reported fourth-quarter fiscal 2026 results that exceeded its guidance ranges, driven by continued growth in Atlas and a stronger-than-expected quarter for non-Atlas products. Management also outlined its fiscal 2027 outlook, discussed the company’s positioning for AI and multi-cloud workloads, and announced changes to its go-to-market leadership team.
Fourth-quarter results topped guidance
President and CEO CJ Desai, speaking in his first full quarter leading the company, said MongoDB generated total revenue of $695 million, up 27% year-over-year, and above the high end of guidance by 4%. Desai said top-line strength was driven by Atlas, while non-Atlas also posted its best growth quarter in two years.
Berry reported net income of $143 million, or $1.65 per share, based on 86.5 million diluted shares outstanding, compared to $108 million, or $1.28 per share, a year earlier.
Atlas growth remained strong, with some bundled-deal noise
Management said Atlas revenue grew 29% year-over-year in the quarter and represented 72% of total revenue, up from 71% in the year-ago quarter. Desai said Atlas crossed the $2 billion run-rate mark for the first time and delivered a record $114 million in net new revenue during the quarter.
Berry attributed Atlas performance to strength with the company’s largest customers in North America and Europe and said the total company net ARR expansion rate increased to 121% in Q4, up from 120% last quarter and 119% a year ago.
However, Berry noted that Q4 included a higher-than-expected level of bundled deals involving Atlas and Enterprise Advanced (EA), which led to a greater attribution of revenue to EA versus Atlas. Excluding that impact, Berry said Atlas growth would have been approximately 30%. In the Q&A, Berry characterized the bundling effect as driven by one exceptionally large transaction that was not anticipated entering the quarter.
Enterprise Advanced and multi-year deals lifted non-Atlas momentum
Desai said non-Atlas revenue grew 20% year-over-year, calling it the best growth quarter for that segment in the last two years. He highlighted two large transactions signed during the quarter: an approximately $90 million deal with a large technology company planning to expand core and AI workloads on Atlas, and a greater than $100 million transaction with a large financial institution for EA that management described as the largest total contract value deal in MongoDB’s history.
Berry said non-Atlas momentum was supported by financial services, public sector, and technology customers building long-term, mission-critical applications on MongoDB. He reported non-Atlas ARR grew 13% year-over-year and said deal duration remains a key swing factor that makes the non-Atlas segment harder to forecast.
MongoDB also pointed to stronger backlog metrics. Berry said remaining performance obligations (RPO) increased from $748 million at the end of fiscal 2025 to $1.47 billion at the end of fiscal 2026, representing 97% year-over-year growth.
On the customer front, Desai said MongoDB ended the quarter with more than 65,200 customers, adding 2,700 in Q4. Berry added that MongoDB finished the quarter with 2,799 customers with at least $100,000 in ARR and 402 customers with at least $1 million in ARR, up 17% and 26% year-over-year, respectively.
AI adoption discussed as an emerging, but not yet material, driver
Desai said AI is “not yet a material driver” of results, but highlighted growth in AI-related product adoption. He said the number of customers leveraging Vector Search nearly doubled year-over-year, and the number using Voyage embedding models doubled since the acquisition last February. Desai also emphasized MongoDB’s view that agentic AI applications require “memory, state, and high-quality retrieval,” and positioned MongoDB’s platform as an integrated data layer that combines operational workloads with search, vector search, and embeddings.
In the Q&A, Desai said large enterprises are not yet seeing agentic workloads scale in meaningful customer-facing ways, though internal productivity use cases are emerging. He described AI’s impact as “not if but when.” Berry added that management’s comments about back-half visibility in fiscal 2027 were tied to the nature of a consumption model and not to concerns about the quality of workloads signed in recent years.
Guidance and leadership changes
For fiscal first quarter 2027, Berry guided for revenue of $659 million to $664 million, representing 20% to 21% year-over-year growth. MongoDB expects non-GAAP operating income of $105 million to $109 million, implying an operating margin of approximately 16.5% at the high end, and non-GAAP EPS of $1.15 to $1.19 on 86.2 million diluted shares outstanding.
For full-year fiscal 2027, MongoDB forecast revenue of $2.86 billion to $2.9 billion, representing 16% to 18% growth, with non-GAAP operating income of $545 million to $565 million and non-GAAP EPS of $5.75 to $5.93 on 86.7 million diluted shares. Berry said the company expects to expand operating margin by 100 basis points in fiscal 2027 while continuing to invest in growth initiatives, including AI capabilities, Voyage integration, feature parity between EA and Atlas, Japan expansion, and strengthening the U.S. federal business.
MongoDB also discussed capital allocation and cash flow. Berry said the company ended the quarter with nearly $2.4 billion in cash, cash equivalents, short-term investments, and restricted cash. He reported operating cash flow of $180 million and free cash flow of $177 million, compared with $51 million and $23 million in the year-ago periods, and attributed improvement partly to higher cash collections tied to multiyear EA deals. Berry said MongoDB plans to commit 100% of free cash flow in fiscal 2027 to share repurchases to offset dilution and cash settlement of employee RSU taxes.
On leadership, Desai announced that Erica Volini will join as Chief Customer Officer effective March 3, 2026, reporting to him, with responsibilities spanning post-sale support functions. Desai also said Cedric Pech, President of Field Operations, and Paul Capombassis, Chief Revenue Officer, are leaving MongoDB, with Capombassis remaining through Q1 and serving as an advisor through Q2 during the transition. Desai said the company is in the latter stages of searching for a new CRO and is seeking a leader with strength in high-end enterprise selling, experience with consumption-based models, and familiarity with MongoDB’s Atlas and EA businesses.
About MongoDB (NASDAQ:MDB)
MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.
The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.
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