MongoDB, Inc. (NASDAQ:MDB) reported better-than-expected third-quarter results after Monday’s closing bell.

MongoDB reported quarterly earnings of $1.16 per share, which beat the analyst consensus estimate of 69 cents. Quarterly revenue came in at $529.4 million, which beat the consensus estimate of $497.75 and is an increase over sales of $432.938 million from the same period last year.

"MongoDB's third-quarter results were significantly ahead of expectations on the top and bottom line, driven by better-than-expected EA performance and 26% Atlas revenue growth. We continue to see success winning new business due to the superiority of MongoDB's developer data platform in addressing a wide variety of mission-critical use cases," said Dev Ittycheria, president and CEO of MongoDB.

MongoDB sees fourth-quarter revenue of between $515 million and $519 million, versus the $506.13 million estimate, and adjusted earnings of between 62 cents and 65 cents per share, versus the 56 cent estimate. The company expects fiscal 2025 revenue in a range of $1.973 billion to $1.977 billion, versus the $1.93 billion estimate, and adjusted earnings of between $3.01 and $3.03 per share, versus the $2.47 estimate.

MongoDB shares gained 2% to close at $350.13 on Monday.

These analysts made changes to their price targets on MongoDB following earnings announcement.

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