MongoDB (MDB) Q4 2026 earnings summary

Executive summary

• Achieved Q4 revenue of $695.1M, up 27% year-over-year, and full-year revenue of $2.46B, exceeding guidance by 4%.

• Atlas revenue grew 29% year-over-year, surpassing a $2B run rate and generating record net new revenue.

• Added 2,700 customers in Q4, ending with over 65,200 customers, a 60% year-over-year increase in full-year additions.

• Signed major deals, including a $90M transaction with a tech company and a $100M+ deal with a financial institution, the largest in company history.

• Operating margin reached 23%, achieving 'rule of 40' performance and exceeding guidance.

Financial highlights

• Q4 net income was $143M ($1.65/share) non-GAAP, up from $108M ($1.28/share) a year ago.

• Atlas accounted for 72% of total revenue in Q4, up from 71% last year.

• Q4 subscription revenue: $673.1M (+27% YoY); services revenue: $22.0M (+26% YoY).

• Ended Q4 with $2.4B in cash, $180M in operating cash flow, and $177M in free cash flow, both significantly higher year-over-year.

• Non-Atlas ARR grew 13% year-over-year, with strong multi-year deals boosting deferred revenue and RPO by 97% to $1.47B.

Outlook and guidance

• Q1 FY27 revenue expected at $659M–$664M (20–21% growth), with non-GAAP operating margin ~16.5%.

• FY27 revenue guidance is $2.86B–$2.9B (16–18% growth), non-GAAP operating margin ~19.5%.

• Atlas revenue projected to grow 26% in Q1 and 21–23% for FY27; non-Atlas to see low to mid single-digit growth.

• Committed to expanding operating margin by 100 basis points in FY27 while investing in AI, product parity, and global expansion.

• FY27 non-GAAP income from operations: $545M–$565M; non-GAAP EPS: $5.75–$5.93.