MongoDB, Inc. delivered a strong QQ2 2026 quarter with revenue of $591.4 million, up 24% year over year and above the high end of guidance. Atlas revenue growth accelerated to 29% YoY and now accounts for 74% of total revenue, underscoring the company’s ability to monetize higher-value workloads and larger enterprise deployments. The company ended the quarter with just under 60,000 customers, including over 58,300 Atlas customers, reflecting continued upmarket expansion. However, consolidated gross margin declined modestly to 71% from 75% a year ago due to Atlas mix, while non-GAAP operating income reached $87 million for a 15% margin, evidencing margin expansion on revenue outperformance. Management raised full-year revenue and margin guidance, signaling confidence in Atlas-driven growth and ongoing efficiency initiatives.
Management remains focused on the AI opportunity, highlighting Atlas as a core platform for AI applications, and emphasizing embedded AI capabilities (vector search, embeddings, stream processing) as differentiators. While AI adoption remains in early-to-mid stages across enterprises, MDB is investing in product and GTM initiatives (Investor Day, AppMod tooling, developer outreach) to accelerate the transition from prototype to scale. The quarter featured a modest restructuring charge (~$5 million) and a capital allocation program that included a $200 million share repurchase, underscoring a disciplined approach to profitability while investing for growth. The outlook contemplates a high single-digit to mid-20s revenue trajectory for Atlas in the second half and a mid-teens to low-20s non-Atlas decline, with full-year guidance raised to reflect the Q2 outperformance.