MongoDB Inc (MDB) Q3 2026 Earnings Report

Q3 2026 (MongoDB, MDB) delivered a resilient growth profile with Atlas-led expansion and improving profitability, reinforcing the company’s thesis of becoming the generational modern data platform for the AI era. Total revenue of $628.3 million rose 19% year over year, driven by Atlas growth of 30% YoY and now representing approximately 75% of total revenue. Non-Atlas ARR grew 8% YoY, with multiyear deals contributing ~2/3 of non-Atlas outperformance, and Atlas net ARR expansion accelerated to 120% (from 119% in the prior quarter). Gross margin declined modestly to 74% as Atlas’ mix increased, but Atlas margins continue to improve YoY. Operating income ($123.1 million) reached a 20% non-GAAP operating margin, topping expectations and signaling durable revenue growth with stronger profitability. Cash flow momentum remained robust: operating cash flow of $143.5 million and free cash flow of $143.5 million, with cash and investments totaling about $2.3 billion and a net cash position of roughly -$799 million (net debt negative). The balance sheet also reflects a disciplined capital approach, including a $1B share repurchase program and RSU tax cash settlements, reinforcing value creation for shareholders. Management raised Q4 and FY26 guidance, underscoring confidence in Atlas-driven growth and disciplined investment to support long-term margin expansion and free cash flow conversion.