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MongoDB said Q1 subscription revenue was up 82%

The managed database player MongoDB reported its first quarter financial results after the bell on Wednesday,
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Written by Natalie Gagliordi, Contributor on

MongoDB delivered mixed first quarter financial results after the bell on Wednesday, despite strong growth across its subscription and services revenue. The managed database player reported a Q1 net loss of $33.2 million, or 61 cents per share. On a non-GAAP basis, earnings came to 22 cents per share on revenue of $89.4 million, 78% year-over-year. 

Wall Street was expecting a loss of 24 cents per share on revenue of $83.1 million. 

Elsewhere, MongoDB said subscription revenue was $84.0 million, an increase of 82% year-over-year, and services revenue was $5.4 million, an increase of 33% year-over-year.

In terms of guidance, MongoDB said it expects second quarter net loss per share in the range of 29 cents to 27 cents, with revenue from $90 million to $92 million. Analysts expect EPS of a loss of 28 cents and revenue of $87.7 million. 

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