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Why did MongoDB Inc. (MDB) stock turnaround in the after-hours on Monday?

MongoDB Inc. (MDB) shares jumped 17.91% in after-hours on Monday, December 06, 2021, and closed the daily trading at $506.25. However, in the regular trading session, MDB’s stock lost 4.63%. MDB shares have risen 54.64% over the last 12 months, and they have moved down 18.37% in the past week. Over the past three months, the stock has lost 12.33%, while over the past six months, it has gained 34.03%.

Let’s discuss its recent news and developments.

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MDB latest news

On December 06, 2021, MongoDB, Inc. (MDB), released its financial results for the third quarter ended October 31, 2021.

Q3 2022 financial highlights

  • MDB reported total revenue of $226.9 million in the third quarter fiscal 2022 compared to $150.7 million in Q3 2021.
  • The total cost of revenue was $68.5 million in Q3 2022 compared to $46.1 million in Q3 2021.
  • Gross profit was $158.4 million in Q3 2022 compared to $104.6 million in Q3 2021.
  • Total operating expenses were $235.2 million in Q3 2022 compared to $162.75 million in Q3 2021.
  • It suffered a net loss of $81.3 million, or $1.22per share in the third quarter of fiscal 2022 compared to a net loss of $72.7 million, or $1.22 per share in Q3 2021.
  • MongoDB ended Q3 2022 with cash, cash equivalents, short-term investments, and restricted cash of $1.8 billion.

Q4 2022 financial guidance

For Q4 2022, MongoDB is expecting,

  • Revenue in the range of $239.0 million to $242.0 million.
  • Non-GAAP operating loss in the range of $13.0 million to $11.0 million.
  • Non-GAAP loss per share in the range of $0.24 to $0.21.

FY 2022 financial guidance

For FY 2022, the company is expecting,

  • Revenue in the range of $3 million to $849.3 million.
  • Non-GAAP operating loss in the range of $4 million to $34.4 million.
  • Non-GAAP loss per share in the range of $0.74 to $0.71.

MDB participation in the upcoming events

MongoDB, Inc. will participate at the Barclays Conference on Tuesday, December 7, 2021, at 9:45 AM Eastern Time. Chief Operating Officer and Chief Financial Officer, Michael Gordon, and Senior Vice President of Finance, Serge Tanjga will present the company during the event.

MDB will also take part at the UBS Conference on Wednesday, December 8, 2021, at 9:00 AM Eastern Time. Mr. Gordon and Mr Tanjga will present the company.

MDB Pay-As-You-Go at AWS marketplace

On November 30, 2021, MongoDB, Inc. (MDB), made it easier for customers to build, scale, and manage data-rich applications with MongoDB Atlas in AWS Marketplace in calendar Q1 2022. With the pay-as-you-go MongoDB, developers will have a simplified subscription experience, and enterprises will have another way to procure MongoDB in addition to privately negotiated offers already supported on AWS Marketplace.

Conclusion

The recent financial results were the reason behind its turnaround in the after-hours on Monday. We can expect it to continue its positive momentum on Tuesday as well.

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