Key Highlights

● Revenue was $771.8 million, up 30% from $591.4 million.

● Atlas revenue was $565.9 million, up about 29%.

● GAAP income from operations was $28.4 million versus a prior-year loss.

● Free cash flow was $137.6 million, up from $69.9 million.

Why the quarter stands out

MongoDB, Inc. (NASDAQ:MDB) reported on 1 September 2026 that revenue for the second quarter of fiscal 2027, which ended on 31 July 2026, reached $771.8 million, up 30% from $591.4 million a year earlier. The company also moved from an operating loss to an operating profit on a GAAP basis and raised its guidance for the full fiscal year, which is why the update is notable for anyone following enterprise data infrastructure.

Business and sector

MongoDB provides a general-purpose document database that developers use to build applications. It is sold both as MongoDB Atlas, a fully managed cloud service, and as Enterprise Advanced, a product that customers run in their own environments. Atlas generated $565.9 million of second-quarter revenue, up about 29%, roughly 73% of the total, a share calculated from the reported figures. Enterprise Advanced and other revenue was $181.2 million, up about 36%.

The company competes in the database and data-platform market against the large cloud providers and established database vendors. Chief Executive Officer CJ Desai described MongoDB as "emerging as the intelligent data platform for the AI era".

Latest reported results

Subscription revenue was $747.1 million, up 31%, and services revenue was $24.6 million, up 29%. GAAP income from operations was $28.4 million, a 4% margin, compared with a loss of $65.3 million in the prior-year quarter. Non-GAAP operating income was $185.9 million, a 24% margin, against $86.8 million, or 15%, a year earlier.

GAAP net income was $40.9 million, or $0.50 per diluted share, versus a net loss of $47.0 million, or $0.58 per share. Non-GAAP net income was $162.6 million, or $1.90 per share, compared with $1.00 a year earlier. Gross margin improved to 74% on a GAAP basis from 71%.

Financial performance and industry context

Operating cash flow was $141.9 million and free cash flow was $137.6 million, up from $69.9 million, and Chief Financial Officer Mike Berry said free cash flow nearly doubled. The company held about $2.4 billion in cash, cash equivalents, short-term investments and restricted cash. Remaining performance obligations were $1,519.2 million, up 91%, while current remaining performance obligations, the portion expected to be recognised within twelve months, were $797.3 million, up 73%.

MongoDB had more than 70,600 customers at 31 July 2026, including more than 69,300 using Atlas. Customers spending at least $100,000 annually rose to 2,999 from 2,564.

For the third quarter, MongoDB guided to revenue of $756 million to $761 million and non-GAAP operating income of $152.0 million to $156.0 million. For the full year it raised revenue guidance to $2.99 billion to $3.03 billion, with non-GAAP operating income of $616.3 million to $636.3 million and non-GAAP earnings per share of $6.39 to $6.58. It expects a GAAP operating loss of between $8.0 million and $28.0 million for the year.

Risks and uncertainties

The third-quarter revenue guide sits below the second-quarter result, so sequential revenue is expected to dip even as year-on-year growth continues. GAAP operating results are guided to a loss in the third quarter, so GAAP profitability remains thin. Consumption-based revenue from Atlas depends on customer workloads, which can fluctuate with the broader technology spending environment. The company also faces competition from hyperscale cloud providers that bundle their own database services, and the strong growth in remaining performance obligations leaves open how quickly commitments will convert into revenue.

Atlas growth and profitability test

The next report will show whether MongoDB delivers on its guided third-quarter figures, how Atlas growth compares with the 29% recorded in the second quarter, and whether the number of large customers continues to rise. Observers will also track whether GAAP profitability proves durable and whether free cash flow stays near this quarter's reported level of $137.6 million.