MongoDB Inc Q2 2026 Earnings Call Summary

The following is excerpted from the question-and-answer section of the transcript.

Question: Sanjit Singh - Morgan Stanley - Analyst : Hi, thank you for taking the question and congrats on a heck of a quarter in Q2. I wanted to dive into some of the drivers into Q2. When I look at the acceleration of Atlas, which has now accelerated for two quarters in a row, and I kind of just look at the sequential dollar adds, I had the up more than $40 million in Q2, which is kind of the strongest sequential dollar adds we've seen in quite some time in what's been a pretty sober sort of cloud spending environment. So I was wondering if you could give us some sense of the drivers of the strong sequential adds this quarter, I pointed to May. But if anything you can give us from like a workload perspective or any other new factors, maybe the workloads from last year starting to ramp? I just like to understand that trajectory a little bit better.

Question: Sanjit Singh - Morgan Stanley - Analyst : Yeah, that's great color. I wanted to follow up on the go-to-market side. Over the last couple of years, you've been sort of tinkering and optimizing the go-to-market organization across sort of territory investment, but also sort of quotas and moving to incremental consumption. Could you give us an update on the state of operations for the sales force today? And in some sense, if I look at the customer adds, it seems like things are humming quite well. But just to understand how -- like what's the state of the organization today that would be really helpful.

Question: Sanjit Singh - Morgan Stanley - Analyst : Appreciate the thought today. Thank you.

Question: Raimo Lenschow - Barclays - Analyst : Perfect. Thank you. First of all, congrats to Jess. All the best. Two quick questions from me. Staying on that theme of self-service, that acceleration, and Dev, obviously, you changed things around, but it kind of -- it's accelerated despite kind of you actually moving up market. Like can you help us understand that and what's driving that a little bit? And then I had one follow-up for Mike.

Question: Raimo Lenschow - Barclays - Analyst : Yeah, no, that's really nice to see. And then Mike, thanks, first of all, for all the accidents disclosure, the ARR for the non-Atlas or EA part is kind of really helpful. If you think about the -- I get the logic around the renewal cohorts, especially Q3. But am I doing the math correctly, that actually next year, that part of the business looks more interesting because the cohort looks better. Like just trying to get your idea and maybe you might not even give it to us because you just do ARR. Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 26, 2025 / 9:00PM, MDB.OQ - Q2 2026 MongoDB Inc Earnings Call

Question: Raimo Lenschow - Barclays - Analyst : Yeah, okay, perfect. Thank you, but thanks for the disclosure, really helpful.

Question: Tyler Radke - Citi - Analyst : Hey, thanks for taking the question. And nice job on the Atlas growth. I wanted to dig into the AI commentary that you had, Dev. Obviously, last quarter, you talked about cursor, which obviously is ramping up significantly in terms of their ARR. And I think you called out many examples this quarter, including an autonomous vehicle company. It sounds like expecting pretty significant growth there. But how much of that is playing into the Atlas strength that you're seeing here in the quarter? Any way to quantify that cohort or use cases, whether it's Vector Search or maybe even if you throw in Voyage, just help us understand if that's starting to move the needle because it sounds like there's some pretty high profile wins in there?

Question: Tyler Radke - Citi - Analyst : Great. And then a follow-up on the migration opportunity. I know you've been investing in relational migrator. You're working with companies like Cognition to accelerate the code migration opportunity. And you've seen professional services ramp up a little bit. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 26, 2025 / 9:00PM, MDB.OQ - Q2 2026 MongoDB Inc Earnings Call But where have you started to see sort of the time to migration or replatform improve a bit? Just anything you could share in terms of that migration opportunity if that's started to improve in terms of velocity or size of workload ratio would be helpful. Thank you.

Question: Tyler Radke - Citi - Analyst : Thank you.

Question: Jason Ader - William Blair - Analyst : Yeah, thank you. Dev, I was hoping you could talk about some of the kind of latest industry developments just on the technology side, in particular, I'm thinking about Lake base from Databricks and DocumentDB in the Linux Foundation. Can you just comment on both those things? And how they might impact MongoDB and how you differentiate?

Question: Jason Ader - William Blair - Analyst : Great. Thank you. And then just one quick follow-up. Why don't we hear so much about Postgres adoption for AI start-ups. You talked about the success you guys are having. But if Postgres has the disadvantages that you've talked about multiple times, scalability, JSON support, how come we hear so much about that, kind of at least from the early stages of AI?

Question: Jason Ader - William Blair - Analyst : Thank you. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 26, 2025 / 9:00PM, MDB.OQ - Q2 2026 MongoDB Inc Earnings Call

Question: Alex Zukin - Wolfe Research LLC - Analyst : Yes, thanks for squeezing me in, and I'll echo the congrats on truly amazing quarter. I guess, Dev, when you think about the AI comments that you've talked about both in the press release and in the call, maybe just a little bit more nuance on the use cases, not necessarily that you're seeing kind of contribute materially today, but the differentiation of the platform that you're able to incrementally take market share as it becomes available, both in net new kind of AI native companies, but also in some of your larger existing companies or customers that are starting to modernize for this kind of conversational or AI-native era. Where are you seeing the most momentum in terms of workload construction and scale? And when do you think we should expect to kind of actually start seeing that contribute more materially to the growth in consumption?

Question: Alex Zukin - Wolfe Research LLC - Analyst : Very helpful. And then maybe if I could just sneak one in for Mike. You've been kind of saying from, I think, the first day you started about how the margin profile of this business, it's not it's an words and it's clearly coming through in both the growth acceleration, but also the meaningful margin outperformance. As you think about sustaining this kind of accelerating pace and investing in things like the Bay Area startup community, how are you finding that balance and versus or balance that quite frankly, is elusive to a lot of companies that are doing what you guys are doing?

Question: Alex Zukin - Wolfe Research LLC - Analyst : Excellent. Thank you guys. Congrats again.

Question: Kash Rangan - Goldman Sachs - Analyst : It's always tough to go after, Alex, because you have such a good question, but that's not going to stop me. So Dev and Mike, congratulations on the quarter. It's super interesting, you were talking about how some silicon valley AI startup founders don't have time to think about databases, but a good friend Dheeraj seems to have made a wise choice here. So as you set encampment up in the Bay Area and start to evangelize the need for an Atlas consumption AI savvy database, how do you reconcile the head to the fact that same time enterprise is where you really saw the bread-and-butter value proposition of Mongo resonates. So could -- would is happening with DevRev be a leading indication of what's going to happen in the enterprise because we evolve much to your observation, not seen much of a productivity impact in the enterprise because of AI at the business level? And so what could be that unlocks what are folks like Dheeraj doing correctly that is a -- could be a precursor, if it is for what is to come in the enterprise?

Question: Kash Rangan - Goldman Sachs - Analyst : Awesome, we'll drill into this more in a couple of weeks when we see you in San Francisco.

Question: Brad Reback - Stifel, Nicolaus & Company Inc - Analyst : Great, thanks very much. The 7% EA ARR growth seems fine. I'm assuming you're not satisfied with single-digit growth there. Dev, any sense of where we should think about that longer term? Thanks.

Question: Brad Reback - Stifel, Nicolaus & Company Inc - Analyst : Great. Thank you very much. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 26, 2025 / 9:00PM, MDB.OQ - Q2 2026 MongoDB Inc Earnings Call

Question: Ittai Kidron - Oppenheimer & Co Inc - Analyst : Thanks, great numbers and congrats to Jess and good luck in your new role. Dev, I wanted to dig into the AI opportunity again, but take it from a perspective of a go-to-market motion. Clearly, you can power a lot of AI use kits that are embedded with bigger platforms through a self-serve motion, but it sounds like to really capture the big workload opportunities. It's going to have to be more of an enterprise poor. So I'm kind of wondering how do you think about targeting the AI opportunity from go-to-market motion that doesn't just fall into -- if you're a big enterprise, we're going to send you to an enterprise salesperson and all the risk called or self-serve and do it yourself. Is there something a little bit more, do you think target perhaps that you need to take here in order to capitalize on this opportunity?

Question: Ittai Kidron - Oppenheimer & Co Inc - Analyst : I appreciate that. And maybe as a follow-up, Mike, I just want to make sure I dig in a little bit into the non-Atlas business, the EA -- predominantly EA business. Can you tell us roughly what percent of your customers here are multiyear deals versus just annual deals? I'm just kind of curious how -- where we are now? And what was it, say, a year or two ago? And where do you think that mix is going to be a year or two from now?

Question: Ittai Kidron - Oppenheimer & Co Inc - Analyst : When you look at the customers that are choosing multiyear deals, has anything changed in the way they think about the reasoning behind doing that versus not?

Question: Ittai Kidron - Oppenheimer & Co Inc - Analyst : Appreciate it.

Question: Siti Panigrahi - Mizuho Securities USA LLC - Analyst : Thanks for taking my question. And Dev, I think some of the comments you were talking about the AI slowdown, and you heard about recent MIT report about AI implementation not getting any kind of return. How do you see -- what kind of do you think the inflection point when we think we'll start seeing some of the adoption of this AI like you say they are testing, but what can trigger? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 26, 2025 / 9:00PM, MDB.OQ - Q2 2026 MongoDB Inc Earnings Call I know you have been talking about a year ago, probably we are a few years out. But it's good to see some of the traction. So how do you, first of all, what would be your view on that report? And how should we think about in terms of revenue contribution -- material contribution from AI?

Question: Siti Panigrahi - Mizuho Securities USA LLC - Analyst : That's a great color, Dev. Thank you.

Question: Brad Sills - Bank of America - Analyst : Great, thank you so much. I wanted to ask about some of the investments that you alluded to earlier that you're making in R&D. How are you thinking about that? Is it incremental investments in some of these newer offerings like vector and streaming? Are there other new workloads that you're thinking of addressing here? Would love to get some color on just where you're investing in the stack? Thank you.

Question: Brad Sills - Bank of America - Analyst : Got it. Great, thanks for that, Dev. And one more if I may, please. I know there's been an effort to focus on driving higher quality workloads in that larger account base. I mean, to what extent would you attribute some of this upside to that effort? And maybe just an update on that effort as you may --

Question: Brad Sills - Bank of America - Analyst : Great. Thank you.

Question: Rishi Jaluria - RBC Capital Markets Inc - Analyst : Wonderful, thanks for squeezing me in at the deadline. I'll keep myself to one question. Dev, really nice to see the early traction with AI native companies. it's always made sense to us, especially given your scalability and your ability to work with unstructured data. If we were to fast forward 5, 10 years and we start to see a real paradigm shift where instead of agents built on kind of the traditional mobile interface that we've been in for the past 30 years, we actually entered kind of a multi-agentic world where maybe the interaction vector may move away from what we've been used to in a more natural language. Can you talk about why MongoDB still has a strong role and some of the investments that you might be making to position yourself well for the world, understanding that's at least several years away? Thanks.

Question: Rishi Jaluria - RBC Capital Markets Inc - Analyst : All right, very helpful. Thank you so much.