Q2 FY2027 results
| Metric | Result | Change |
|---|---|---|
| Total Revenue | $772 million | up 30% year-over-year |
| Atlas Revenue Growth | 29% | year-over-year |
| EA and Other Revenue Growth | 36% | year-over-year |
| Non-GAAP Operating Margin | 24% | up from 15% year-over-year |
| Total Customers | 70,600 | up from 59,900 a year ago |
Guidance and outlook
- Q3 total revenue of $756 million to $761 million.
- Q3 non-GAAP income from operations of $152 million to $156 million.
- Full year FY2027 total revenue of $2.99 billion to $3.03 billion.
- Full year FY2027 non-GAAP income from operations of $616 million to $636 million.
- Full year FY2027 non-GAAP net income per share of $6.39 to $6.58.
How management sounded
Positive (+7 on our -10 to +10 scale). Management raised full-year revenue and margin guidance, citing broad-based strength in both Atlas and Enterprise Advanced and early AI traction. Management sounded more upbeat than on 48% of the 190 calls we cover; most companies sound positive on their own calls, so the comparison says more than the label.
Q&A summary
Atlas Guidance
Asked: Analysts asked about the implied deceleration in Atlas growth for the fourth quarter.
Answer: Management emphasized that they remain prudent with guidance and noted that they raised the full-year Atlas growth forecast by 300 basis points.
Voyage Adoption
Asked: Analysts asked about the success of converting Voyage customers into broader platform users.
Answer: Management noted that Voyage is a strong top-of-funnel acquisition tool, particularly with AI-native companies, and that cross-selling efforts are early but encouraging.
EA vs. Atlas
Asked: Analysts asked if the growth in Enterprise Advanced comes at the expense of Atlas.
Answer: Management stated that EA and Atlas are complementary, with EA serving specific needs like data sovereignty and operational resilience, and that both are growing.
AI Use Cases
Asked: Analysts asked for specific AI use cases driving adoption.
Answer: Management highlighted customer-facing agents, knowledge-based chatbots, and inference workloads as key areas where MongoDB's scale and performance are preferred.
What to watch before the next call
- Consumption trends in the second half of the year, particularly in Q4.
- Adoption rates of new Search and Vector Search capabilities in Enterprise Advanced.
- Conversion of Voyage customers into broader Atlas platform users.
