MongoDB said Q1 subscription revenue was up 82%
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.
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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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