MongoDB Inc. (MDB) shares plunged as much as 18.5% on Monday after CEO Chirantan Desai abruptly stepped down to take a senior role at Meta Platforms.
Dev Ittycheria, who led MongoDB for 11 years before departing in 2025, returns as interim president and CEO.
Despite the surprise shakeup, MongoDB reaffirmed guidance above Wall Street estimates: third-quarter adjusted EPS of $1.57-$1.61 versus a $1.54 consensus, and fiscal 2027 EPS of $6.39-$6.58 versus $6.13 expected. Revenue guidance also topped estimates for both periods.
Investors appeared more focused on leadership uncertainty than the reaffirmed outlook, sending the stock to its worst single-day drop since early March 2026.
