The quarter cleared a meaningfully higher bar than management's own forecast. Published expectations were roughly $734-$740 million of revenue and $1.61-$1.62 of adjusted EPS. MongoDB delivered $771.8 million of revenue and $1.90 in fully diluted non-GAAP EPS, beating both the market's revenue and profit expectations. (Financial Highlights)
| Metric | Q2 FY27 | Q2 FY26 | Market / prior reference |
|---|---|---|---|
| Total revenue | $771.8M (Financial Highlights) | $591.4M (Income Statement) | Published consensus ~$734-$740M |
| Revenue growth | 30% (Financial Highlights) | — | — |
| Fully diluted non-GAAP EPS | $1.90 (Non-GAAP EPS reconciliation) | $1.00 (Non-GAAP EPS reconciliation) | Published consensus ~$1.61-$1.62 |
| Non-GAAP operating margin | 24% (Non-GAAP operating reconciliation) | 15% (Non-GAAP operating reconciliation) | — |
| RPO | $1.519B (Financial Highlights) | — | +91% year over year |
| Free cash flow | $137.6M (Free Cash Flow reconciliation) | $69.9M (Free Cash Flow reconciliation) | — |
| FY27 revenue guidance | $2.99B-$3.03B (Guidance) | — | Prior: $2.92B-$2.96B |
| FY27 non-GAAP EPS guidance | $6.39-$6.58 (Guidance) | — | Prior: $5.95-$6.14 |
Growth was stronger than the headline guidance range implied. Revenue grew 30% year over year, with subscription revenue up 31%, while Atlas-related revenue reached $565.9 million and Enterprise Advanced and other revenue reached $181.2 million. (Supplemental Revenue Information) The $771.8 million result was also $37.8 million above the midpoint of the prior Q2 revenue guide, indicating the upside was not merely a small margin surprise.
The profitability beat was substantial, though stock compensation remains a major adjustment. Non-GAAP operating income rose to $185.9 million from $86.8 million, lifting non-GAAP operating margin to 24% from 15%. (Non-GAAP Operating Reconciliation) However, stock-based compensation was $148.9 million in the quarter, nearly equal to GAAP operating income of $28.4 million. (Stock-Based Compensation Table) The operating improvement is real, but the gap between GAAP and adjusted profitability remains material.
The forward reset is clearly above the previous plan, not just a confirmation. Full-year revenue guidance increased from $2.92-$2.96 billion to $2.99-$3.03 billion, while full-year non-GAAP EPS guidance rose from $5.95-$6.14 to $6.39-$6.58. (Guidance) The company also raised Q3 revenue guidance to $756-$761 million from the prior $729-$734 million range, while maintaining the prior Q3 non-GAAP operating-income range of $152-$156 million. (Guidance)
Contract visibility and customer expansion reinforce the upside. RPO increased 91% year over year to $1.519 billion and current RPO rose 73% to $797.3 million; customers above $100,000 of annualized recurring revenue increased to 2,999 from 2,895 in the prior quarter. (Financial Highlights; Customer Count Metrics) That combination points to stronger contracted demand and larger customer adoption, making this a broad beat rather than an isolated EPS result. Net read: a significant earnings beat with a genuine guidance raise, tempered mainly by continued heavy stock-based compensation.
Read the original 8-K on SEC EDGAR ↗