MongoDB (NASDAQ:MDB) stock sank early Friday after the database software maker issued light guidance for the quarter and reduced its forecast for the full fiscal year.
The company reported earnings per share of 51 cents adjusted vs. 40 cents expected. Revenue grew 22% year-over-year in the quarter to $450.6 million vs. $439.7 million expected.
Growth slowed for the third consecutive quarter. It was 57% two years ago.
The company had a net loss of $80.6 million, or $1.10 per share, compared with a net loss of $54.2 million, or 77 cents per share, in the year-ago quarter.
Concerning guidance, the company called for adjusted fiscal second-quarter earnings of 46 cents to 49 cents per share, with $460.0 million to $464.0 million in revenue. Analysts surveyed by LSEG were looking for 58 cents in adjusted earnings per share and $470.4 million in revenue.
MongoDB trimmed its 2025 fiscal-year forecast, which now stands at $2.15 to $2.30 in adjusted earnings per share and $1.88 billion to $1.90 billion in revenue. That implies 12% growth. Three months ago, the forecast was adjusted earnings per share of $2.27 to $2.49 and revenue of $1.90 billion to $1.93 billion. Analysts had predicted $2.50 in adjusted earnings per share on $1.93 billion in revenue.
Shares dumped $76.17, or 24.6%, to $233.83.