MongoDB just delivered a quarter that had investors hitting the buy button hard. The data platform company reported fiscal first-quarter results that blew past expectations, and then raised its full-year outlook for good measure. Shares jumped nearly 23% in after-hours trading.

For the quarter ended April 30, MongoDB posted revenue of $687.62 million, topping the $667.82 million analysts were looking for, according to market data. Adjusted earnings came in at $1.32 per share, also ahead of the $1.18 consensus estimate.

Revenue grew 25% year-over-year, with subscription revenue up 25% and services revenue rising 22%. The company's remaining performance obligations — a key metric for future revenue — hit $1.46 billion, up a whopping 88% from a year ago. MongoDB also generated $197.5 million in free cash flow and ended the quarter with $2.4 billion in cash and short-term investments.

"We delivered better-than-expected first quarter results, as our go-to-market teams continue to execute well and capitalize on strong end-market demand for the MongoDB platform across enterprise use cases and emerging AI opportunities," said CJ Desai, president and CEO of MongoDB. "At the same time, we continue to show strong profitability, demonstrating we can drive durable revenue growth while simultaneously expanding margin."

Looking ahead, MongoDB sees second-quarter revenue between $729 million and $734 million, well above the $704.57 million analysts expected. Adjusted earnings for the quarter are forecast at $1.58 to $1.61 per share, versus the $1.28 consensus.

For the full fiscal year 2027, the company lifted its revenue guidance from $2.86-$2.90 billion to $2.92-$2.96 billion, compared to the $2.90 billion estimate. Adjusted earnings guidance was raised from $5.75-$5.93 per share to $5.95-$6.14 per share, above the $5.86 consensus.

MongoDB shares were up 22.76% in after-hours trading Thursday at $399.80. The company will discuss the quarter in more detail on its earnings call at 5 p.m. ET.