By Sam Boughedda
Investing.com -- American software company MongoDB (NASDAQ:MDB) announced its fourth-quarter earnings Tuesday after the closing bell, resulting in its shares jumping 9%.
The company reported an adjusted loss per share of 9 cents on revenue of $266.5 million — an increase of 56% year-over-year.
Subscription revenue was $258.2 million, rising 58% year-over-year, and services revenue was $8.3 million, representing an increase of 17% year-over-year.
MongoDB's full-year revenue was $873.8 million, rising 48% year-over-year, while its adjusted net loss for the year was 59 cents. Subscription revenue was $842.0 million, growing 49% year-over-year, and services revenue was $31.7 million, climbing 27% year-over-year.
"MongoDB delivered exceptional fourth-quarter results, highlighted by delivering 85% Atlas (NYSE:ATCO) revenue growth and surpassing $1 billion in annualized revenue," said Dev Ittycheria, president and CEO of MongoDB.
He added: "Our success is being driven by the fact that our modern application data platform dramatically reduces friction in the development process to make it incredibly easy for developers to build compelling applications that create a competitive advantage."
Looking ahead, the company sees revenue for the first quarter between $263 million and $267 million with an adjusted loss per share in a range of 12 cents to 8 cents. For the full-year fiscal 2023, the company expects revenue to range from $1.151 billion to $1.18 billion, with an adjusted loss per share between 51 cents and 29 cents.