MongoDB, Inc. (NASDAQ: MDB) stock jumped more than 13% on Friday morning, after the provider of a commercial\u00a0database platform announced its financial results for the second quarter ended\u00a0July 31, 2021.<\/p>\n\n\n\n
According to the Company\u2019s report, total revenue was $198.7 million in the second quarter fiscal 2022, an increase of 44% year-over-year. Subscription revenue was $191.4 million, an increase of 44% year-over-year, and services revenue was $7.4 million, an increase of 27% year-over-year.<\/p>\n\n\n\n
“MongoDB’s second quarter results were exceptionally strong across the board, highlighted by Atlas revenue growth of 83%. Our performance reflects the desire of nearly every business to use a modern application data platform that enables them to accelerate the pace of their digital innovation agenda.”<\/p>Dev Ittycheria, President and Chief Executive Officer of MongoDB<\/cite><\/blockquote>\n\n\n\nNet loss was $77.1 million, or $1.22 per share, based on 63.4 million weighted-average shares outstanding in the second quarter fiscal 2022. This compares to $64.5 million, or $1.10 per share, based on 58.4 million weighted-average shares outstanding, in the year-ago period.<\/p>\n\n\n\n
“It is becoming increasingly clear that the fastest and most compelling way to build modern applications is to use MongoDB. Our introduction of MongoDB 5.0, with new product enhancements like Atlas Serverless, Live Resharding, Versioned API and native time series support, is the latest example of how we address a growing set of critical business issues for customers. As a result, MongoDB is increasingly becoming a strategic technology partner and standard for customers, which supports our ability to generate attractive growth at scale for the foreseeable future.”<\/p> Dev Ittycheria, President and Chief Executive Officer of MongoDB <\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"MongoDB, Inc. (NASDAQ: MDB) stock jumped more than 13% on Friday morning, after the provider of a commercial\u00a0database platform announced its financial results for the second quarter ended\u00a0July 31, 2021. Quarter Revenue up 44% YOY According to the Company\u2019s report, total revenue was $198.7 million in the second quarter fiscal 2022, an increase of 44%… View Article<\/a>","protected":false},"author":3,"featured_media":16973,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"pmpro_default_level":0,"footnotes":""},"categories":[31,11,7,16],"tags":[],"acf":[],"yoast_head":"\nMongoDB, Inc. Stock Skyrockets After Strong Revenue Increase - MarketDepth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/marketdepth.com\/mongodb-inc-stock-skyrockets-after-strong-revenue-increase\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MongoDB, Inc. 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