MongoDB shares surged 17% after the software company surpassed fiscal first-quarter earnings expectations and raised its outlook, citing growing confidence in its cloud-based database service.

Revenues hit $549 million during the period, jumping 22% from more than $450 million in the year-ago period. That topped a $528 million estimate from analysts polled by LSEG. Adjusted earnings per share reached $1.00, surpassing the 66 cents per share projected by analysts.

“We are confident in our position to drive profitable growth as we benefit from this next wave of application development,” said CEO and president Dev Ittycheria in a release.

For the 2026 fiscal year, MongoDB raised its guidance, saying it now expects between $2.25 billion and $2.29 billion in revenue and $2.94 to $3.12 in adjusted earnings per share. MongoDB previously forecast revenues between $2.24 billion and $2.28 billion and adjusted earnings of $2.44 to $2.62 per share for the year.

MongoDB expects revenues to range between $548 million and $553 million in the current fiscal quarter. Adjusted earnings are forecasted to reach 62 cents to 66 cents per share during the period.

During a company earnings call, finance chief Mike Berry cited “continued confidence” in its Atlas cloud-based database services and “timing differences” in its Enterprise Advanced database business as the reason for the guidance boost. Berry took over the role at the end of May.

MongoDB said revenues for Atlas during the quarter grew 26% from a year ago and accounted for 72% of total revenues.

“As digital transformation and public cloud adoption remain top priorities, we believe MongoDB is well positioned to capitalize on growth from net new workloads and re-platforming of legacy applications,” wrote Goldman Sachs analyst Kash Rangan in a note to clients.

The database software maker’s net loss narrowed from a year ago to $37.6 million, or a loss of 46 cents per share. That’s down from a net loss of $80.6 million, or a loss of $1.10 per share last year.

The company also boosted its share buyback plan by $800 million to $1 billion.