Shares of MongoDB Inc. (MDB) surged 12.78% in after-hours trading on Wednesday following the release of its impressive first-quarter fiscal 2026 results. The database software company significantly outperformed market expectations, prompting a raise in full-year guidance and an expansion of its share repurchase program.

MongoDB reported total revenue of $549 million for the quarter, marking a 22% increase year-over-year and surpassing the analyst consensus estimate of $528.2 million. The company's adjusted earnings per share (EPS) came in at $1.00, substantially beating the expected $0.66. This strong performance was driven by robust growth in its cloud database service, Atlas, which saw a 26% year-over-year revenue increase.

In light of these results, MongoDB raised its fiscal 2026 outlook, now expecting adjusted EPS between $2.94 and $3.12 on revenue ranging from $2.25 billion to $2.29 billion. The company also announced an $800 million increase to its share repurchase program, bringing the total authorization to $1 billion. These positive developments, coupled with the introduction of new retrieval models for its AI offerings, have bolstered investor confidence in MongoDB's growth trajectory and financial health.