By Dhirendra Tripathi
Investing – MongoDB (NASDAQ:MDB) shares popped Friday a day after the company surprised the Street with losses that came below what most had expected.
The database platform provider that counts cloud giants AWS, Google (NASDAQ:GOOGL) Cloud and Alibaba (NYSE:BABA) as its partners lost 15 cents per share for the first quarter ended April 30, less than half of the 35-cent loss a poll of analysts by Investing estimated.
Revenue rose 39% from the year-ago quarter to $181.6 when the poll forecast $169.75 million.
MongoDB said Atlas (NYSE:ATCO) has hit a $400 million revenue run rate.
Developers use the open-source MongoDB database to make apps. Atlas is a version of the same that can be run in the cloud. As the company has pushed Atlas as a subscription-based model over the last five years, it now accounts for majority of MongoDB’s revenue.
The MongoDB management has guided for second quarter revenue of $180 million to $183 million and $771 million to $784.0 million for fiscal 2022.
Quarterly non-GAAP net loss per share is seen between 43 cents and 40 cents and between $1.38 and $1.25 on an annual basis.