Overview
- Revenue rose 19% to $628.3 million with adjusted EPS of $1.32, topping consensus estimates by a wide margin.
- Fourth-quarter guidance calls for $665 million to $670 million in revenue and adjusted EPS of $1.44 to $1.48.
- Full-year outlook increased to $2.434 billion to $2.439 billion in revenue with adjusted EPS of $4.76 to $4.80.
- Atlas cloud revenue grew about 30% year over year and comprised roughly three-quarters of total sales, highlighted as the primary growth driver.
- Shares jumped roughly 20%–25% as analysts lifted price targets, while the company reported stronger billings ($687.3 million, up ~34%), improved free cash flow margin, a small GAAP net loss of about $2 million, and roughly 2,600 net new customers to ~62,500.