Sep 1, 2026 earnings call — Atlas and EA drive AI-led growth
MongoDB reported total revenue of $772 million, up 30% year over year, driven by Atlas and EA strength.
Revenue $0.8B (est $0.7B) · EPS $1.90 (est $1.62) · Next-quarter revenue outlook $0.8B–$0.8B
Key quotes
"Increasingly, these same enterprises as well as AI natives are choosing our platform for AI workloads evidenced by the adoption of Atlas Vector Search and Voyage Embeddings."
"Atlas revenue grew approximately 29% year over year for the fifth straight quarter driven by large enterprise customers and building AI momentum."
"Our core business remains strong. And our run anywhere advantage is a key differentiator for this quarter's growth across both Atlas and EA."
Analyst Q&A 9
Atlas growth drivers
Q (Raimo Lenschow · Barclays): Analyst asked what is driving Atlas strength and why management is confident.
A: Management said Atlas grew about 29% year over year for the fifth straight quarter. They highlighted a record net new $127 million in Atlas and an almost $2.3 billion run rate, and said AI is beginning to help consumption.
"And that is also buttressed by a record net new $127 million net new Atlas dollars as well as the increase in the net ARR expansion rate" — Michael J. Berry (CFO)
Atlas vs self-managed EA impact
Q (Alex Zukin · Wolfe): Analyst asked if EA (self-managed) growth is taking deals away from Atlas and what explains Q4 guide weakness.
A: Management said Atlas continued to grow and EA self-managed growth is not coming at Atlas's expense. They said customers choose self-managed for reasons like data sovereignty and to run massive workloads, and they remain prudent in guiding out quarters because consumption patterns around holidays are uncertain.
"I want to be very clear that the growth of EA self-managed MongoDB, is not coming at expense of Atlas." — Chirantan Jitendra Desai (CEO)
Voyage customer conversion
Q (Matthew Martino · Goldman Sachs): Analyst asked how well Voyage customers convert to broader Atlas customers and whether these are new customers.
A: Management said many Voyage customers are net new to MongoDB and that cross-sell to Atlas is early but promising. They noted coding agents (Claude, Codex) drive many referrals, and Voyage creates a top-of-funnel of AI workloads that can become long-term Atlas customers.
"But most importantly, there are some customers who come in as Voyage customers." — Chirantan Jitendra Desai (CEO)
AI use cases that pull through
Q (Karl Keirstead · UBS): Analyst asked which AI use cases lead customers to use MongoDB most and what to watch for.
A: Management said MongoDB shines for large, customer-facing workloads like insurance claims, healthcare policies, and credit card transactions. They gave an example of a large bank vectorizing knowledge articles for a real-time wealth-management chatbot as a clear pull-through use case.
"That is a 1 very specific example where a particular large bank is using MongoDB." — Chirantan Jitendra Desai (CEO)
EA timeline and cohorts
Q (Sanjit Singh · Morgan Stanley): Analyst asked when EA will get new AI features, how fast customers adopt them, and which customer groups are easiest to convert.
A: Management said customers asked for EA to be AI-ready and that the company delivered search and vector search driven by customer demand. They said 3 quarters of double-digit EA growth shows EA and Atlas are now two growth drivers and not cannibalizing each other.
"Second thing, as Mike shared, 3 quarters of double digit EA growth gives me optimism that now we have 2 growth drivers Atlas and EA, And as I shared, not coming at expense of each other." — Chirantan Jitendra Desai (CEO)
Renewals and Q4 guidance inputs
Q (Ryan MacWilliams · Wells Fargo): Analyst asked if customers renew early at higher rates and for help understanding the implied Q4 Atlas guide.
A: Management said Net Revenue Retention (NRR) was very strong across Atlas and EA and that retention and consumption trends are healthy and improving. They noted some large customers told them consumption is growing faster than expected, but contract resets because of that are limited and not widespread.
"So the first thing, as Mike outlined, our NRR was very strong and high." — Chirantan Jitendra Desai (CEO)
Voyage/vector attach and scale
Q (Evercore): Analyst asked how quickly Voyage and vector products scale from pilot to company-wide use and how fast ARR grows.
A: Management said Atlas is consumption driven and that when large customers integrate vector search into the operational data layer, time to value was a few weeks and that drives consumption. They gave examples of a Fortune 100 bank and a large media company where vector integration led to rapid scaling.
"And the time to value there was few weeks, and then we would have a dedicated search node and so on, which drives the consumption." — Chirantan Jitendra Desai (CEO)
Inference workloads at AI labs
Q (Tyler Radke · Citi): Analyst asked whether inference workloads at AI labs are new this quarter and how large they are.
A: Management said one lab began running inference on MongoDB as a memory layer in late last calendar year and then moved more inference workloads into Q2. They said Atlas performance removed uptime and performance pain and encouraged labs to run more inference on Atlas as they build new products.
"So with 1 of the labs, they started towards the later half of last calendar year, with 1 of the workloads that was running inference on MongoDB and used us as a memory layer." — Chirantan Jitendra Desai (CEO)
Mix of Atlas and EA over time
Q (BofA): Analyst asked how Atlas and EA mixes might change over the next 3–5 years and whether EA will reduce Atlas share.
A: Management said they expect Atlas to remain a larger percentage of revenue and to continue increasing as a percent, while EA becomes a more durable growth contributor than previously expected. They emphasized AI demand is driving growth in both Atlas and EA and that the shift is an 'and, not an or.'
"If Atlas is around 74% now, that certainly should continue to increase as a percent." — Michael J. Berry (CFO)