MDB
MongoDB, Inc.
Technology · Software - Infrastructure · United States · Stock
Score Breakdown
Scored for Aggressive Growth profile
Sub-scores are 0–20 each; Model Score is weighted by your selected investment goal. How it works →
Why Ranked Here
- The composite score of 38.1/100 reflects strong growth and momentum scores offset by zero credit for profitability, dividends, and theme translation into model value.
- Revenue growth of +22.8% and improving EPS contributed positively, but persistent negative margins across all profitability metrics prevented a higher overall ranking.
- The absence of any dividend and the model's inability to translate the Enterprise AI Software theme assignment into a positive score further constrained the total.
Why Not Higher
- Profitability remains elusive at the annual level, with negative net margin, operating margin, and return on assets in FY2026, earning zero profitability credit in the model.
- The dividend factor contributes nothing to the score, and the Enterprise AI Software theme assignment did not produce a positive theme score under the current methodology.
Data Confidence
8 / 10
High — most data fields present
Why This Score
Grounded in figures from this company's SEC EDGAR filings — not a restatement of the score itself.
Revenue grew from FY2025's $2,006,443,000 to FY2026's $2,463,797,000, a gain of +22.8%. Net income losses narrowed by +44.9% from FY2025 to FY2026, and diluted EPS improved +49.1% over the same period, from -$1.73 to -$0.88.
The model rewarded the combination of robust top-line expansion and meaningful loss reduction, reflecting accelerating progress toward profitability even though the company remains in a net loss position.
In FY2026, MongoDB reported a net margin of -2.9%, an operating margin of -5.6%, and a return on assets of -1.9%, all of which remain negative.
The model assigns no profitability credit when all key margin and return metrics are negative, as the company has not yet achieved sustainable earnings on its revenue base or asset base.
Filing evidence currently available does not support a more specific explanation for this factor.
Quarterly revenue rose from $591,402,000 in 2026Q2 to $695,072,000 in 2026Q4 before a modest step-back to $687,616,000 in 2027Q1, showing a broadly upward trend. Net income improved markedly across the same window, moving from -$47,048,000 in 2026Q2 to positive territory at $15,530,000 in 2026Q4 and $4,434,000 in 2027Q1. Operating income also trended toward breakeven, reaching $304,000 in 2026Q4, though it dipped back to -$24,804,000 in 2027Q1.
The model rewarded the sustained revenue growth trajectory and the notable improvement in net income toward and briefly into profitability, even though operating income showed some quarter-to-quarter volatility near the breakeven line.
MongoDB does not currently pay a dividend and has no mapped dividend history, making it a genuine non-payer rather than a case of missing data.
The model assigns a zero score for this factor because no dividend income is available to investors, which is consistent with the company's growth-oriented reinvestment posture.
MongoDB is assigned to the Enterprise AI Software macro theme.
Although the company carries a relevant and currently prominent macro theme assignment, this assignment did not translate into a positive score under the model's current methodology for this factor.
Research Summary
AI-generated analysis reflects data and conditions as of the report date shown above. Verify any specific figures through primary sources before acting on this analysis.
MongoDB delivered strong top-line growth of +22.8% year-over-year, with revenue rising from $2.01B in FY2025 to $2.46B in FY2026, while net losses narrowed by nearly 45% and diluted EPS improved from -$1.73 to -$0.88 over the same period. Quarterly momentum has been encouraging, with net income briefly turning positive in 2026Q4 and 2027Q1, though operating income remains volatile near the breakeven line. Despite these positive trends, the company still posts negative margins across all key profitability metrics in FY2026, including a net margin of -2.9% and an operating margin of -5.6%, and pays no dividend. The overall picture is one of a high-growth enterprise software company making meaningful progress toward profitability but not yet there, warranting a Monitor Only designation.
Plain English
MongoDB is growing its revenue fast and losing less money each year, which is a good sign, but it still isn't consistently profitable yet — so it's worth watching but not a clear winner right now.
Bull Case vs. Bear Case
Bull Case
- Revenue grew +22.8% year-over-year from FY2025 to FY2026, demonstrating strong and sustained top-line expansion in the enterprise software market.
- Net losses narrowed by +44.9% and diluted EPS improved +49.1% from FY2025 to FY2026, showing meaningful and accelerating progress toward profitability.
- Quarterly net income turned positive in both 2026Q4 ($15.5M) and 2027Q1 ($4.4M), suggesting the company is approaching a sustainable profitability inflection point.
Bear Case
- All key profitability metrics remain negative in FY2026, including a net margin of -2.9%, an operating margin of -5.6%, and a return on assets of -1.9%, meaning the company has not yet achieved sustainable earnings.
- Operating income is highly volatile near breakeven, swinging from $304,000 in 2026Q4 to -$24.8M in 2027Q1, raising questions about the durability of the profitability trend.
- MongoDB pays no dividend and has no dividend history, offering investors no income return while the company continues to reinvest in growth.
What Could Change the Picture
Bullish Triggers
- Sustained positive operating income across multiple consecutive quarters would signal that the path to profitability is durable rather than episodic.
- Continued acceleration in revenue growth beyond the current +22.8% annual rate would reinforce the company's competitive position in enterprise software.
Bearish Triggers
- A reversal in the net income improvement trend — with losses widening again after the recent narrowing — would undermine the profitability narrative.
- A meaningful deceleration in quarterly revenue growth from the current trajectory would raise concerns about market saturation or competitive pressure.
Risk Profile
High RiskThe interest coverage ratio of -43.8 in FY2026 indicates that operating income does not cover interest expense, reflecting meaningful financial risk despite the company's $3.76B in total assets. While quarterly momentum shows net income briefly turning positive, operating income remains volatile near breakeven, adding uncertainty to the near-term financial outlook.
Key Catalysts to Watch
A sustained move into positive operating income territory, building on the brief breakeven achieved in 2026Q4, could serve as a meaningful inflection signal for the company's profitability trajectory.
This report is for educational and research purposes only. It does not constitute financial, investment, legal, or tax advice — always conduct your own due diligence before making investment decisions.