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Cloud-native document database MongoDB has revised its earnings guidance to reflect better results than earlier expected, even as it widened losses in the first quarter of the year.
Source: MongoDB
MDB is up 13.44%, while VO is up 0.16%.
MongoDB expects its full-year earnings to indicate a net loss of $9.0 million to a net income of $1.0 million, better than the net loss of $22.0 million to $7.0 million it earlier announced. Revenue is expected between $1.172 billion and $1.192 billion.
Second-quarter net loss is expected to range between $18.0 million to $16.0 million, and net loss per share between $0.31 and $0.28. Revenue is seen to fall between $279.0 million and $282.0 million.
The first-quarter net loss stood at $77.3 million or $1.14 per share, wider than the net loss of $64.0 million or $1.04 per share recorded in the same quarter of the previous year.
Revenue for the quarter was recorded at $285.4 million, 57% higher than the previous year. Subscription revenue jumped 57% to $274.6 million, and services revenue grew 54% to $10.9 million.
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