MongoDB shares slump amid leadership churn, despite $2 billion Atlas landmark

MongoDB shares slumped this week despite the company hitting some landmark numbers – after it reported lower guidance than expected.

The database company’s share price is now down 18% year-to-date amid a broader selloff in software shares, as investors fret over AI impact. 

That’s despite the company’s flagship Atlas managed service growing 29% year-over-year and crossing the $2 billion run rate mark for the first time. 

MongoDB also reported Q4 revenues of $695.1 million, well ahead of a $670.1 million target. But investors were unimpressed by cautious earnings for the next quarter and net profit of just $15.5 million in the quarter – perhaps, also by the news that “AI is not yet a material driver to our results.” 

The company also saw continued churn in its leadership. MongoDB saw veteran CEO Dev Ittycheria announce his resignation in November 2025. 

MongoDB has also seen its CEO, CFO, CIO, CMO, and CPO all depart over the past year. On the Q4 call it said Cedric Pech, President of Field Operations; and Paul Keppambesis, Chief Revenue Officer, are also leaving MongoDB.