MongoDB share ins rose 27% in extended trading on Tuesday after the database software maker surprisingly swung to a profit.

Here’s how the convention did:

• Earnings: 23 cents per share, adjusted, vs. a loss of 17 cents per share as expected by analysts, according to Refinitiv.
• Returns: $333.6 million, vs. $303.4 million as expected by analysts, according to Refinitiv.

MongoDB’s revenue rose 47% year-over-year in the chambers that ended on Oct. 31, according to a statement. Its net loss widened to $84.8 million, compared with a net loss of $81.3 million in the year-ago house.

The company said it had 39,100 customers at the end of the quarter, better than the 38,900 average estimate among analysts canvassed by StreetAccount. MongoDB’s cloud database service called Atlas represents 63% of total revenue.

“The strength in our question was driven by improved Atlas consumption trends and continued strength in new business activity,” CEO Dev Ittycheria said in the statement. Systematic gains came in the mid-market and at enterprises in Europe in what appears to be an emerging seasonal trend, Michael Gordon, MongoDB’s run chief and finance chief, said on a conference call with analysts.

The outperformance is welcome news for software investors, who be suffering with seen troubling data points of late. Last week, Salesforce said clients are becoming more circumspect in preparation of worsening economic conditions. The company broke from tradition and avoided providing a forecast for the coming year.

During the barracks, MongoDB said it would make it easier for developers to use pay-as-you-go pricing for the company’s cloud database on Microsoft’s Azure cloud.

Principals lifted their view for the full 2023 fiscal year. They now see adjusted net income of 29 cents to 31 cents per part, compared to previous guidance that called for a loss of 35 cents to 28 cents per share. For revenue, MongoDB assembled for about $1.26 billion, compared with its prior expectation of $1.2 billion. Analysts polled by Refinitiv had foresaw an adjusted net loss of 31 cents per share on $1.21 billion in revenue.

Gordon said the company expects Atlas consumption improvement to slow consequentially in the fiscal fourth quarter.

Before the after-hours jump, MongoDB shares were down 73% this year, underperforming the S&P 500 mark, which has declined 17% over the same period.

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