RTTNews | Sep 3, 2021 10:25AM EDT

10:24 Friday, September 3, 2021 (RTTNews.com) - Shares of modern general purpose database platform MongoDB, Inc. (MDB) are up more than 21% Monday morning after reporting better-than-expected second-quarter results.

Net loss was $77.1 million, or $1.22 per share in the second quarter compared with net loss of $64.5 million, or $1.10 per share in the same quarter a year ago.

Excluding items, loss was $15.2 million or $0.24 per share, that beat the average estimate of 16 analysts polled by Thomson Reuters for a loss of $0.39 per share.

Revenue for the quarter increased 44% year-over-year to $198.75 million, helped by 83% growth in MongoDB Atlas revenue. The consensus estimate was for $184.2 million.

Looking forward, MongoDB sees revenue in the third quarter to be in the range of $202.0 million to $204.0 million and loss per share to be in the range of $0.42 to $0.39. Analysts expect the company to report loss of $0.37 per share on revenue of $198.3 million.

For the full year, revenue in expected in the range of $805.0 million to $811.0 million and loss per share to be between $1.20 and $1.13. The consensus estimate was $786.06 million for revenue and $1.29 for loss per share.

MDB, currently at $488.75, touched a new high of $498 this morning.

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