Database platform company MongoDB (NASDAQ: MDB) reported revenue ahead of Wall Street’s expectations in Q2 CY2026, with sales up 30.5% year on year to $771.8 million. Guidance for next quarter’s revenue was better than expected at $758.5 million at the midpoint, 1.8% above analysts’ estimates. Its non-GAAP profit of $1.90 per share was 18.1% above analysts’ consensus estimates.
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MongoDB (MDB) Q2 CY2026 Highlights:
- Revenue: $771.8 million vs analyst estimates of $735.3 million (30.5% year-on-year growth, 5% beat)
- Adjusted EPS: $1.90 vs analyst estimates of $1.61 (18.1% beat)
- Adjusted Operating Income: $185.9 million vs analyst estimates of $155.5 million (24.1% margin, 19.5% beat)
- The company lifted its revenue guidance for the full year to $3.01 billion at the midpoint from $2.94 billion, a 2.4% increase
- Management raised its full-year Adjusted EPS guidance to $6.48 at the midpoint, a 7.3% increase
- Operating Margin: 3.7%, up from -11% in the same quarter last year
- Free Cash Flow Margin: 17.8%, down from 28.7% in the previous quarter
- Customers: 70,600, up from 67,700 in the previous quarter
- Billings: $787.5 million at quarter end, up 35.7% year on year
- Market Capitalization: $36.47 billion
"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. 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. That strength spans our run anywhere strategy across both Atlas and Enterprise Advanced, highlighting the power of our data platform. This gives us the confidence to raise our full year fiscal 2027 guidance," said CJ Desai, President and Chief Executive Officer of MongoDB.
Company Overview
Named after "humongous database," reflecting its ability to handle massive data loads, MongoDB (NASDAQ: MDB) provides a flexible document-based database platform that helps developers build, deploy, and maintain modern applications more efficiently.
Revenue Growth
Examining a company’s long-term performance can provide clues about its quality. Any business can experience short-term success, but top-performing ones enjoy sustained growth for years. Over the last five years, MongoDB grew its sales at an excellent 31.7% compounded annual growth rate. Its growth beat the average software company and shows its offerings resonate with customers.
Long-term growth is the most important, but within software, a half-decade historical view may miss new innovations or demand cycles. MongoDB’s annualized revenue growth of 23.7% over the last two years is below its five-year trend, but we still think the results suggest healthy demand. 
This quarter, MongoDB reported wonderful year-on-year revenue growth of 30.5%, and its $771.8 million of revenue exceeded Wall Street’s estimates by 5%. Company management is currently guiding for a 20.7% year-on-year increase in sales next quarter.
Looking further ahead, sell-side analysts expect revenue to grow 15.2% over the next 12 months, a deceleration versus the last two years. Still, this projection is above average for the sector and indicates the market sees some success for its newer products and services.
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Billings
Billings is a non-GAAP metric that is often called “cash revenue” because it shows how much money the company has collected from customers in a certain period. This is different from revenue, which must be recognized in pieces over the length of a contract.
MongoDB’s billings punched in at $787.5 million in Q2, and over the last four quarters, its growth was fantastic as it averaged 32.4% year-on-year increases. This alternate topline metric grew faster than total sales, meaning the company collects cash upfront and then recognizes the revenue over the length of its contracts - a boost for its liquidity and future revenue prospects. 
Customer Base
MongoDB reported 70,600 customers at the end of the quarter, a sequential increase of 2,900. That’s a little better than last quarter and a fair bit above the typical growth we’ve seen over the previous year. Shareholders should take this as an indication that MongoDB’s go-to-market strategy is working well.
Key Takeaways from MongoDB’s Q2 Results
We were impressed by how significantly MongoDB blew past analysts’ billings expectations this quarter. We were also glad its EPS guidance for next quarter trumped Wall Street’s estimates. Zooming out, we think this quarter featured some important positives. The market seemed to be hoping for more, and the stock traded down 13.7% to $377.09 immediately following the results.
Big picture, is MongoDB a buy here and now? When making that decision, it’s important to consider its valuation, business qualities, as well as what has happened in the latest quarter. We cover that in our actionable full research report which you can read here (it’s free).
