Revenue growth remains robust at 25.2% year-over-year, yet the company continues to face structural margin pressure with a 2027Q1 operating margin of -3.6%.
| Sales/Revenue | 2.6B | 2.46B | 2.01B | 1.68B | 1.28B | 873.78M | 590.38M | 421.72M | 267.02M | 154.52M | 101.36M | 65.27M |
| Revenue Growth % | 23.64% | 22.79% | 19.22% | 31.07% | 46.95% | 48% | 39.99% | 57.94% | 72.8% | 52.45% | 55.29% | - |
| Cost of Goods Sold | 729.46M | 696.06M | 535.3M | 424.49M | 349.3M | 259.49M | 177.08M | 125.36M | 73.57M | 42.86M | 29.87M | 20.86M |
| COGS % of Revenue | - | 28.25% | 26.68% | 25.22% | 27.2% | 29.7% | 29.99% | 29.72% | 27.55% | 27.74% | 29.47% | 31.96% |
| Gross Profit | 1.87B | 1.77B | 1.47B | 1.26B | 934.74M | 614.29M | 413.3M | 296.36M | 193.45M | 111.66M | 71.49M | 44.41M |
| Gross Margin % | 71.97% | 71.75% | 73.32% | 74.78% | 72.8% | 70.3% | 70.01% | 70.28% | 72.45% | 72.26% | 70.53% | 68.04% |
| Gross Profit Growth % | - | 20.16% | 16.89% | 34.64% | 52.17% | 48.63% | 39.46% | 53.2% | 73.25% | 56.19% | 60.98% | - |
| Operating Expenses | 1.98B | 1.9B | 1.69B | 1.49B | 1.28B | 903.65M | 622.61M | 444.23M | 291.21M | 208.93M | 157.44M | 117.15M |
| OpEx % of Revenue | - | 77.31% | 84.09% | 88.67% | 99.79% | 103.42% | 105.46% | 105.34% | 109.06% | 135.21% | 155.33% | 179.48% |
| Selling, General & Admin | 1.23B | 1.19B | 1.09B | 976.32M | 859.7M | 594.83M | 417.45M | 295.2M | 201.36M | 146.72M | 105.67M | 73.68M |
| SG&A % of Revenue | - | 48.23% | 54.34% | 58.01% | 66.95% | 68.08% | 70.71% | 70% | 75.41% | 94.96% | 104.25% | 112.89% |
| Research & Development | 747.88M | 716.3M | 596.84M | 515.94M | 421.69M | 308.82M | 205.16M | 149.03M | 89.85M | 62.2M | 51.77M | 43.47M |
| R&D % of Revenue | - | 29.07% | 29.75% | 30.66% | 32.84% | 35.34% | 34.75% | 35.34% | 33.65% | 40.26% | 51.08% | 66.59% |
| Other Operating Expenses | 254K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -308K | -428K |
| Operating Income | -108.22M | -136.97M | -216.06M | -233.73M | -346.65M | -289.36M | -209.3M | -147.87M | -97.77M | -97.27M | -85.95M | -72.74M |
| Operating Margin % | -4.16% | -5.56% | -10.77% | -13.89% | -27% | -33.12% | -35.45% | -35.06% | -36.61% | -62.95% | -84.8% | -111.44% |
| Operating Income Growth % | - | 36.61% | 7.56% | 32.57% | -19.8% | -38.25% | -41.55% | -51.25% | -0.51% | -13.17% | -18.16% | - |
| EBITDA | -73.28M | -110.6M | -189.09M | -201.61M | -317.47M | -264.91M | -188.75M | -128.09M | -92.56M | -93.47M | -82.2M | -68.68M |
| EBITDA Margin % | -2.82% | -4.49% | -9.42% | -11.98% | -24.72% | -30.32% | -31.97% | -30.37% | -34.67% | -60.49% | -81.09% | -105.22% |
| EBITDA Growth % | 49% | 41.51% | 6.21% | 36.5% | -19.84% | -40.35% | -47.35% | -38.38% | 0.97% | -13.71% | -19.69% | - |
| D&A (Non-Cash Add-back) | 34.93M | 26.37M | 26.97M | 32.13M | 29.18M | 24.45M | 20.56M | 19.77M | 5.2M | 3.8M | 3.75M | 4.06M |
| EBIT | -45.7M | -55.69M | -123.51M | -154.13M | -323.46M | -291.57M | -206.59M | -155.19M | -93.58M | -82.68M | -69.33M | -73.02M |
| Net Interest Income | 81.36M | 85.47M | 87.59M | 70.85M | 15.15M | -10.39M | -51.54M | -12.43M | -3.13M | 1.3M | 293K | 122K |
| Interest Income | 84.49M | 88.59M | 95.69M | 80.24M | 24.95M | 926K | 4.57M | 8.56M | 7.16M | 1.31M | 302K | 146K |
| Interest Expense | 3.13M | 3.13M | 8.09M | 9.39M | 9.8M | 11.32M | 56.11M | 20.98M | 10.29M | 8K | 9K | 24K |
| Other Income/Expense | 94.64M | 81.28M | 84.47M | 70.22M | 13.4M | -13.53M | -53.39M | -28.31M | -4.56M | 2.19M | -15K | -306K |
| Pretax Income | -13.57M | -55.69M | -131.6M | -163.52M | -333.25M | -302.89M | -262.69M | -176.18M | -102.33M | -95.07M | -85.96M | -73.04M |
| Pretax Margin % | -0.52% | -2.26% | -6.56% | -9.72% | -25.95% | -34.66% | -44.5% | -41.78% | -38.32% | -61.53% | -84.81% | -111.91% |
| Income Tax | 15.52M | 15.46M | -2.53M | 13.08M | 12.14M | 3.98M | 4.25M | -656K | -3.32M | 1.29M | 719K | 442K |
| Effective Tax Rate % | -114.33% | -27.76% | 1.92% | -8% | -3.64% | -1.31% | -1.62% | 0.37% | 3.24% | -1.35% | -0.84% | -0.61% |
| Net Income | -29.09M | -71.15M | -129.07M | -176.6M | -345.4M | -306.87M | -266.94M | -175.52M | -99.01M | -96.36M | -86.68M | -73.49M |
| Net Margin % | -1.12% | -2.89% | -6.43% | -10.49% | -26.9% | -35.12% | -45.22% | -41.62% | -37.08% | -62.36% | -85.52% | -112.59% |
| Net Income Growth % | 66.21% | 44.88% | 26.91% | 48.87% | -12.56% | -14.96% | -52.09% | -77.28% | -2.75% | -11.17% | -17.96% | - |
| Net Income (Continuing) | -29.09M | -71.15M | -129.07M | -176.6M | -345.4M | -306.87M | -266.94M | -175.52M | -99.01M | -83.97M | -86.68M | -73.49M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.36 | -0.88 | -1.73 | -2.48 | -5.03 | -4.75 | -4.53 | -3.14 | -1.90 | -1.94 | -2.15 | -6.34 |
| EPS Growth % | 67.13% | 49.13% | 30.24% | 50.7% | -5.89% | -4.86% | -44.27% | -65.26% | 2.06% | 9.77% | 66.09% | - |
| EPS (Basic) | - | -0.88 | -1.73 | -2.48 | -5.03 | -4.75 | -4.53 | -3.14 | -1.90 | -1.94 | -2.15 | -6.34 |
| Diluted Shares Outstanding | 81.58M | 81.25M | 74.56M | 71.25M | 68.63M | 64.56M | 58.98M | 55.94M | 52.03M | 49.63M | 40.3M | 11.6M |
| Basic Shares Outstanding | 80.36M | 81.25M | 74.56M | 71.25M | 68.63M | 64.56M | 58.98M | 55.94M | 52.03M | 49.63M | 40.3M | 11.6M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - |
Cloud infrastructure cost dependency
According to recent quarterly filings, MongoDB maintained a 25.2% year-over-year revenue growth rate in 2027Q1, demonstrating that the Atlas consumption-based model continues to capture enterprise demand despite broader macroeconomic headwinds that have historically pressured IT spending cycles across the infrastructure software sector.
The company's ability to sustain top-line expansion suggests that the shift toward consumption-based pricing is successfully capturing increased application usage. Investors should monitor whether this growth remains durable as the company attempts to penetrate legacy relational database markets, which typically involve longer sales cycles and more rigorous procurement scrutiny.
As reported in financial statements, MongoDB's gross margin has hovered in the low-70% range, specifically reaching 72.2% in 2027Q1, which reflects the inherent 'cloud tax' paid to hyperscalers that limits the margin profile compared to pure-play software providers lacking such infrastructure dependencies.
This margin profile appears structurally capped by the variable costs associated with hosting Atlas on third-party cloud platforms. While this model provides significant operational agility, it suggests that meaningful gross margin expansion may be difficult to achieve without a fundamental shift in pricing power or a reduction in underlying cloud infrastructure costs.
Based on reported figures, MongoDB's operating margin of -3.6% in 2027Q1 indicates that while the company is narrowing its losses, it has yet to achieve consistent operating leverage, as SG&A expenses continue to consume a significant portion of the gross profit generated each quarter.
The persistent high level of SG&A spending suggests that the company is prioritizing aggressive market share acquisition over immediate GAAP profitability. Analysts should investigate whether the current trajectory of operating expenses will eventually decouple from revenue growth, which would be a necessary precursor to demonstrating sustainable long-term profitability.
Data from recent income statements reveals that stock-based compensation remains a substantial non-cash expense, totaling $137.8M in 2027Q1, which significantly bridges the gap between the reported operating loss and the company's ability to post occasional positive net income figures.
The reliance on equity-based incentives warrants careful scrutiny, as it may dilute long-term shareholder value if the pace of growth begins to decelerate. Investors should consider the impact of this compensation on the quality of earnings, as the reported net income may not fully reflect the true economic cost of talent acquisition.
A critical challenge to the current narrative is the potential for margin compression, as evidenced by the 2027Q1 operating loss, which may indicate that the company's go-to-market strategy is becoming increasingly expensive relative to the incremental revenue captured from new enterprise customers.
Short-term volatility in consumption patterns could expose the company to significant revenue headwinds, as the Atlas model allows customers to scale down usage rapidly during budget contractions. This sensitivity suggests that the company's growth may be more cyclical than the market currently anticipates, warranting a cautious outlook on valuation multiples.
Quick answers to the most common questions about buying MDB stock.
For fiscal year 2026, MongoDB, Inc. (MDB) reported total revenue of $2.46B. This represents a 3674.7% increase compared to $65.3M in 2016.
MongoDB, Inc. (MDB) reported a net loss of $71.2M for the fiscal year ending 2026.
MongoDB, Inc. (MDB) reported an operating income of $-137.0M, resulting in an operating profit margin of -5.6%. This margin reflects the operational efficiency of the business before interest and taxes.
MongoDB, Inc. (MDB) generated $1.77B in gross profit for the year, representing a gross profit margin of 71.7%. This demonstrates the company's core pricing power and production efficiency.