01—Abstract
Summary
Summary of the 10-K filed March 11, 2026. Cited figures are marked; the original filing is the authoritative source.
MongoDB, Inc. reported fiscal 2026 (year ended January 31, 2026) total revenue of $2,463.8 milliona, up from $2,006.4 million in fiscal 2025 and $1,683.0 million in fiscal 2024.
Atlas, its multi-cloud database-as-a-service offering, represented 73% of total revenue in fiscal 2026, compared with 70% in fiscal 2025, while MongoDB Enterprise Advanced represented 20%, down from 23%. The company's net ARR expansion rate was 121% as of January 31, 2026, and it had over 65,200 customers. Net loss narrowed to $71.2 millionb from $129.1 million in fiscal 2025, and operating cash flow rose to $505.1 million from $150.2 million.
Gross margin was 72%, versus 73% a year earlier, and sales and marketing expense was 38% of revenue. The company ended the year with cash, cash equivalents, short-term investments and restricted cash totaling $2.4 billionc and an accumulated deficit of $1.9 billion. It repurchased 1,576,109 shares for $400.3 million during the year and had $599.7 million remaining under its $1.0 billion repurchase authorization.
In February 2025 it acquired Voyage AI for $160.9 milliond, and it reports a remaining performance obligations balance of $1,472.7 million, with approximately 52% expected to be recognized over the next 12 months. The filing also flags material ongoing risks, including the Baxter securities class action (the court has not yet ruled on the motion to dismiss), related shareholder derivative suits, and a cloud infrastructure commitment of $300 million renewed during the year. Management concluded internal control over financial reporting was effective as of January 31, 2026, and PricewaterhouseCoopers LLP issued an unqualified opinion.
02—Key points
Key Highlights
- Total revenue of $2,463.8 million in fiscal 2026, up from $2,006.4 million in fiscal 2025.
- Atlas represented 73% of total revenue in fiscal 2026, up from 70% in fiscal 2025; MongoDB Enterprise Advanced fell to 20% from 23%.
- Net loss narrowed to $71.2 million from $129.1 million; gross margin was 72% versus 73% the prior year.
- Operating cash flow of $505.1 million, up from $150.2 million in fiscal 2025.
- Net ARR expansion rate of 121% as of January 31, 2026; over 65,200 customers.
- Cash, cash equivalents, short-term investments and restricted cash totaled $2.4 billion; repurchased $400.3 million of stock with $599.7 million of authorization remaining.
- Pending Baxter securities class action and related derivative suits; the court has not yet ruled on the motion to dismiss.
03—One dollar
Follow one dollar
For each $1.00 of revenue in FY2026, MongoDB lost $0.03.
- Revenue$2.46B100.0%
- Cost of revenue−$696.1M28.3%
- Gross profit$1.77B71.7%
- Operating costs−$1.90B77.3%
- Operating income−$137.0M5.6%
- Interest, other & tax$65.8M2.7%
- Net income−$71.2M2.9%
04—Financials
Financial Highlights
Figures from 10-KFY2026filed March 11, 2026Financial Statements
FY2026 against FY2025
| Line item | FY2026FY2025 | Change |
|---|---|---|
| Revenue | $2.46B$2.01B | +22.8% |
| Cost of Revenue | $696.06M$535.30M | +30.0% |
| Gross Profit | $1.77B$1.47B | +20.2% |
| R&D Expenses | $716.30M$596.84M | +20.0% |
| Operating Expenses | $1.90B$1.69B | +12.9% |
| Operating Income | -$136.97M-$216.06M | +36.6% |
| Interest Expense | $3.13M$8.09M | −61.3% |
| Net Income | -$71.15M-$129.07M | +44.9% |
| EPS (Basic) | $-0.88$-1.73 | +49.1% |
| EPS (Diluted) | $-0.88$-1.73 | +49.1% |
| Shares Outstanding (Basic) | 81.25M74.56M | +9.0% |
| Shares Outstanding (Diluted) | 81.25M74.56M | +9.0% |
05—Questions
Frequently Asked Questions
How did MongoDB's revenue and profitability change in fiscal 2026?
Total revenue rose to $2,463.8 million from $2,006.4 million, and the net loss narrowed to $71.2 million from $129.1 million. Gross margin slipped to 72% from 73%, as subscription gross margin declined to 76% from 77% due to a higher mix of Atlas revenue.
What is driving growth, and how is the revenue mix shifting?
Subscription revenue increased by $442.1 million, primarily from higher consumption of Atlas by large existing customers, reflected in the 121% net ARR expansion rate. Atlas grew to 73% of total revenue, while MongoDB Enterprise Advanced declined to 20%.
What are the main risks flagged in the filing?
The filing highlights competition from legacy database providers and large cloud providers, dependence on Atlas and on customer renewals, reliance on third-party cloud providers, data privacy and AI regulatory exposure, and the pending Baxter securities class action and related derivative lawsuits. The company has a history of losses and reports an accumulated deficit of $1.9 billion.
How is the company returning capital and managing its cash position?
The company repurchased 1,576,109 shares for $400.3 million during fiscal 2026 and had $599.7 million remaining under its $1.0 billion authorization. It also paid $98.6 million in taxes on net share settlement of equity awards. Cash and investments totaled $2.4 billion, and management believes these are sufficient for at least the next 12 months.
What did the company say about its acquisition activity and future commitments?
In February 2025 MongoDB acquired Voyage AI for $160.9 million, consisting of $141.4 million in stock and $19.5 million in cash, plus $72.5 million of restricted stock and units tied to post-combination service. During the year it entered a renewal with a cloud infrastructure provider that includes a non-cancelable $300 million commitment payable from October 2025 through October 2028.
06—Continue