Cloud database company MongoDB (NASDAQ:MDB) saw its shares surge on Wednesday. The stock jumped as much as 28%. As of 11:40 a.m. EDT, the stock was up 25.5%.
The stock's gain followed MongoDB's fourth-quarter fiscal 2019 results, which featured accelerating top-line growth and a narrower non-GAAP loss per share than in the year-ago quarter.
MongoDB's fiscal fourth-quarter revenue jumped 71% year over year to $85.5 million -- a meaningful acceleration from the company's 57% revenue growth in Q3. Even when excluding the company's recent acquisition of cloud database provider mLab, organic revenue accelerated, management noted in its earnings call.
Atlas, the company's multicloud database service, helped drive results as the offering surpassed an annualized revenue run rate of $100 million -- less than three years since its launch.
"At approximately one third of our revenue, MongoDB Atlas' tremendous growth highlights its compelling value to enable customers to focus on innovation and offload the operational burden of database management," said MongoDB CEO Dev Ittycheria in the company's fourth-quarter earnings release.
Importantly, MongoDB's non-GAAP net loss per share was $0.17, narrower than a loss of $0.27 in the year-ago period.
For its first quarter of fiscal 2020, management said it expects revenue between $82 million and $84 million and a non-GAAP loss per share between $0.25 and $0.23. Analysts, on average, were expecting fiscal first-quarter revenue of $75 million and a non-GAAP loss per share of $0.37.
For the full year of fiscal 2020, management expects revenue between $363 million and $371 million, up from $267 million in fiscal 2019.