cloud database platform
Search documents
MongoDB stock skyrockets 25% on AI, cloud database platform growth
CNBC· 2025-12-02 14:39
Core Insights - MongoDB shares surged 25% following a strong third-quarter performance that exceeded Wall Street expectations and an upward revision of its forecast due to increased traction of its cloud database platform [1][2] Financial Performance - The company reported adjusted earnings of $1.32 per share on revenue of $628 million, surpassing analyst expectations of 80 cents per share and $592 million in revenue [1] - Revenue growth was recorded at 19% year-over-year [1] Product Performance - The Atlas platform experienced a 30% growth compared to the previous year, contributing to 75% of total revenues for the quarter [2] - The company ended the quarter with over 60,800 Atlas customers, with projected revenue growth of 27% for the platform in the current period [2] Leadership Changes - Dev Ittycheria, who led the company for 11 years, stepped down in November [3]