3 Reasons the Sky's the Limit for MongoDB
MongoDB (NASDAQ: MDB) reported the financial results of its fiscal 2020 fourth quarter after the market close on Tuesday, and the company continued to deliver outstanding results. Revenue grew 44% year over year to $123.5 million, resulting in a non-GAAP (adjusted) net loss per share of $0.25. Both metrics were better than analysts' consensus estimates for revenue of $111 million and a loss per share of $0.28.
The cloud database company also announced that co-founder Eliot Horowitz would step down as chief technology officer effective July 10. The stock initially fell more than 9% on the news, but management reminded investors that MongoDB has been anticipating this move for some time. They noted the strong team that Horowitz assembled, particularly his two key lieutenants, who have been with the company for more than seven years and will be stepping in to fill his admittedly big shoes.
With the headline numbers and announcements out of the way, let's look at three metrics that show why MongoDB has a long runway ahead.
Source Fool.com
