MongoDB Inc. (MDB) posted a strong fiscal year-end and fourth-quarter report. The company is growing revenues at double-digit rates and is expecting further growth. Its shares rose by 11.14% during Thursday’s trading session, reaching a low of $303.00 and ending the day at $329.04. During the trading session, the total trading volume was 1.55 million shares, representing an increase of 77.5% from the session average, which is 871.66K shares. In the last trading session, MDB closed at $327.26.
MongoDB’s revenue for the fourth quarter of the fiscal year 2021 rose by 38% compared to the previous year’s figure of $ 171 million and was up by 40% for the entire year. Growth came mostly from the Atlas platform as a data warehouse-as-a-service. Non-relational database technologies (NoSQL) are especially well suited to scalability in distributed networks.
The non-GAAP loss for the quarter was $ 19.9 million or $ 0.33 per share compared to $ 14.5 million or $ 0.25 per share a year earlier. This year’s non-GAAP loss was $ 58.1 million, or $ 0.99 per share. For next year, these figures will be $ 55.9 million and $ 1 per share. A net loss for the year was $ 59.1 million, but the cash flow stayed negative.
Increased market share of data solutions was MongoDB’s positive sign. Before, it was only possible to use NoSQL technology in a single, limited way. It has evolved into a solution that can be used in various ways in recent years. The MongoDB partnership with Tencent Cloud, for example, was signed last quarter. With access to the largest cloud service provider in China, it can now offer its services to a large audience.
MongoDB Inc. (MDB) expects revenues of $745 to $765 million during the current fiscal year, a non-GAAP operating loss of $84 to $74 million, or $1.55 to $1.39 per share.