Shares in MongoDB Inc. shot up up more than 20% in late trading today after the database company impressed investors with earnings and revenue beats in its fiscal 2026 third quarter and provided guidance ahead of expectations.

For the quarter that ended on Oct. 31, MongoDB reported adjusted earnings per share of $1.32, up from a loss of $1.16 per share in the same quarter of the previous fiscal year, on revenue of $628.3 million, up 19% year-over-year. Both were well ahead of the 81 cents per share and revenue of $593.78 million expected by analysts.

MongoDB saw subscription revenue in the quarter of $609.1 million, up 19% year-over-year and services revenue of $19.2 million, up 12% year-over-year. As of the end of the quarter, MongoDB was sitting on $2.3 billion in cash, cash equivalents, short-term investments and restricted cash, with the figure helped by $143.5 million in cash from operations through the quarter.

Business highlights in the quarter included the Sept. 16 launch of a new artificial intelligence-powered service that is designed to modernize legacy applications. The MongoDB Application Modernization Platform combines tooling, structured modernization methodologies and human expertise to transform decades-old applications into modern, scalable services.

On Sept. 17, MongoDB revealed that search and vector search features that had previously been confined to its Atlas cloud platform are now available for self-managed deployments, including MongoDB Community Edition and MongoDB Enterprise Server. The feature puts advanced AI-building tools in the hands of millions of developers operating local and on-premises environments.

The company also launched a number of AI development, security and governance technology integrations with Microsoft that the company says solidify its position as the best data foundation for AI on Microsoft Azure.

“Q3 was an exceptional quarter. Existing customers are expanding with us and net-new customer additions continue to show strength,” CJ Desai, president and chief executive officer of MongoDB, said in the company’s earnings release. “Companies across industries and geographies are choosing MongoDB because we provide a unified data platform that powers mission-critical workloads today and also positions them to capitalize on the emerging AI platform shift.”

For its fiscal 2026 fourth quarter, MongoDB expects adjusted earnings per share of $1.44 to $1.46 and revenue of $665 million to $670 million. For the full year, the company expects adjusted earnings of $4.76 to $4.80 per share on revenue of $2.434 billion to $2.439 billion.

The full-year guidance was revised up from previous guidance of $2.34 billion to $2.36 billion given by MongoDB at the end of its previous quarter. The outlook also came in ahead of the $2.36 billion expected by analysts.

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