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MongoDB, Inc. Announces Second Quarter Fiscal 2027 Financial Results

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Second quarter fiscal 2027 total revenue of $771.8 million, up 30% year-over-year

Atlas revenue up approximately 29% year-over-year in the second quarter fiscal 2027

EA & other revenue up approximately 36% year-over-year in the second quarter fiscal 2027

Raising full year fiscal 2027 guidance, with H2 raise mainly due to Atlas

NEW YORK, Sept. 1, 2026 /PRNewswire/ — MongoDB, Inc. (NASDAQ: MDB) today announced its financial results for the second quarter ended July 31, 2026.

“We delivered strong second quarter results, highlighted by 30% year-over-year revenue growth—the highest level of growth in several years—and continued strong profitability. This performance reflects the mission-critical role our platform plays for customers, with strength driven by core enterprise workloads and early momentum with AI use cases. That strength spans our run anywhere strategy across both Atlas and Enterprise Advanced, highlighting the power of our data platform. This gives us the confidence to raise our full year fiscal 2027 guidance,” said CJ Desai, President and Chief Executive Officer of MongoDB.

“Looking ahead, we’re emerging as the intelligent data platform for the AI era—launching powerful retrieval innovations, simplifying how developers connect coding agents to their operational data on MongoDB, and reinforcing our position as the only modern data platform that extends seamlessly from self-managed to any cloud for production applications. These investments sharpen our focus on mission-critical capabilities, giving us high confidence in our ability to drive durable growth.”

“Our second quarter results reflect very strong and growing operating leverage in our business,” said Mike Berry, Chief Financial Officer of MongoDB. “We delivered a non-GAAP operating margin of 24%, up significantly from 15% a year ago, while free cash flow nearly doubled year-over-year to $137.6 million. We’re also pleased to report our third consecutive quarter of GAAP EPS profitability, highlighting our disciplined approach to driving long-term shareholder value.”

Second Quarter Fiscal 2027 Financial Highlights

Revenue: Total revenue was $771.8 million for the second quarter of fiscal 2027, an increase of 30% year-over-year. Subscription revenue was $747.1 million, an increase of 31% year-over-year, and services revenue was $24.6 million, an increase of 29% year-over-year.Gross Profit: Gross profit was $569.8 million for the second quarter of fiscal 2027, representing a 74% gross margin compared to 71% in the year-ago period. Non-GAAP gross profit was $585.7 million, representing a 76% non-GAAP gross margin, compared to non-GAAP gross margin of 74% in the year-ago period.Income (Loss) from Operations: Income from operations was $28.4 million for the second quarter of fiscal 2027, compared to a loss from operations of $65.3 million in the year-ago period. Non-GAAP income from operations was $185.9 million, compared to non-GAAP income from operations of $86.8 million in the year-ago period.Net Income (Loss): Net income was $40.9 million, or $0.50 per share, based on 82.0 million diluted weighted-average shares outstanding, for the second quarter of fiscal 2027. This compares to a net loss of $47.0 million, or $0.58 per share, based on 81.1 million basic and diluted weighted-average shares outstanding in the year-ago period. Non-GAAP net income was $162.6 million, or $1.90 per share, based on 85.8 million fully diluted weighted-average shares outstanding. This compares to a non-GAAP net income of $87.2 million, or $1.00 per share, based on 87.1 million fully diluted weighted-average shares outstanding in the year-ago period.Remaining Performance Obligations (“RPO”): RPO was $1,519.2 million, an increase of 91% year-over-year. Current Remaining Performance Obligations (“cRPO”) was $797.3 million, an increase of 73% year-over-year.Cash Flow: As of July 31, 2026, MongoDB had $2.4 billion in cash, cash equivalents, short-term investments and restricted cash. During the three months ended July 31, 2026, MongoDB generated $141.9 million of cash from operations, compared to $72.1 million in the year-ago period. MongoDB used $2.5 million of cash in capital expenditures and used $1.8 million of cash in principal payments of finance leases, leading to free cash flow of $137.6 million, compared to $69.9 million in the year-ago period.

A reconciliation of each non-GAAP measure to the most directly comparable GAAP measure has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.” 

Second Quarter Fiscal 2027 Recent Business Highlights

MongoDB Search and Vector Search are now generally available in MongoDB Enterprise Advanced, bringing the retrieval capabilities MongoDB Atlas customers use to build AI applications in the cloud to self-managed, private cloud, and hybrid environments—with the same platform, APIs, and technical skills across deployment models.MongoDB launched the Atlas Managed MCP Server at .local San Francisco Build Fest, a fully hosted service that connects coding agents—including Claude Code, Codex, Grok Build, and Devin by Cognition—to live MongoDB Atlas data without requiring customers to deploy or manage additional infrastructure.MongoDB announced the general availability of four capabilities that improve AI retrieval in MongoDB Atlas: Automated Embeddings powered by Voyage AI, the Atlas Embedding and Reranking API, voyage-code-4, and Vector Search in Atlas Stream Processing. Together, they help developers build AI applications that can retrieve accurate, up-to-date information from operational and streaming data.At MongoDB.local Bengaluru, MongoDB announced plans to upskill two million Indian builders by 2030, expanding the MongoDB for Academia program in India, which has trained more than 650,000 students since 2023. The expansion will help equip the next generation of builders with the cloud, data, and AI skills required to scale India’s digital economy.MongoDB was named a Leader in The Forrester Wave™: Multimodel Data Platforms, Q2 2026. Forrester reiterated that MongoDB’s robust vision is to be the data platform for the AI era, said that the company’s compelling roadmap advances AI-native capabilities, and noted that MongoDB is investing heavily in AI research and strategic acquisitions to ensure its innovations consistently meet the evolving needs of AI.

Third Quarter Fiscal 2027 Guidance

Based on information available to management as of today, September 1, 2026, MongoDB is issuing the following financial guidance for the third quarter fiscal 2027.

Revenues are expected to be in the range of:

$756 million to $761 million

GAAP

Non-GAAP

Income (Loss) from Operations are expected to be in the range of:

$(14.5) million to
$(10.5) million

$152.0 million to
$156.0 million

Net Income per Share is expected to be in the range of:

$0.00 to $0.05

$1.57 to $1.61

Full Year Fiscal 2027 Guidance

Based on information available to management as of today, September 1, 2026, MongoDB is issuing the following financial guidance for the full year fiscal 2027.

Revenues are expected to be in the range of:

$2.99 billion to $3.03 billion

GAAP

Non-GAAP

Income (Loss) from Operations are expected to be in the range of:

$(28.0) million to
$(8.0) million

$616.3 million to
$636.3 million

Net Income per Share is expected to be in the range of:

$0.53 to $0.77

$6.39 to $6.58

Conference Call Information

MongoDB will host a conference call today, September 1, 2026, at 5:00 p.m. (Eastern Time) to discuss its financial results and business outlook. A live webcast of the call will be available on the “Investor Relations” page of MongoDB’s website at https://investors.mongodb.com. To access the call by phone, please go to this link (registration link), and you will be provided with dial in details. To avoid delays, the Company encourages participants to dial into the conference call fifteen minutes ahead of the scheduled start time. A replay of the webcast will also be available for a limited time at https://investors.mongodb.com.

Forward-Looking Statements

This press release includes certain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, or the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements concerning MongoDB’s financial guidance for the third fiscal quarter and full year fiscal 2027. These forward-looking statements include, but are not limited to, plans, objectives, expectations and intentions and other statements contained in this press release that are not historical facts and statements identified by words such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “project,” “will,” “would” or the negative or plural of these words or similar expressions or variations. These forward-looking statements reflect our current views about our plans, intentions, expectations, strategies and prospects, which are based on the information currently available to us and on assumptions the Company has made. Although the Company believes that our plans, intentions, expectations, strategies and prospects as reflected in or suggested by those forward-looking statements are reasonable, the Company can give no assurance that the plans, intentions, expectations or strategies will be attained or achieved. Furthermore, actual results may differ materially from those described in the forward-looking statements and are subject to a variety of assumptions, uncertainties, risks and factors that are beyond our control including, without limitation: our customers renewing their subscriptions with us and expanding their usage of software and related services; global political changes; the effects of the ongoing geopolitical instability resulting from the conflict in Iran, the unrest in Mexico, the conflicts between Russia and Ukraine, Israel and Hamas and recent events in Venezuela on our business and future operating results; economic downturns and/or the effects of rising interest rates, inflation and volatility in the global economy and financial markets on our business and future operating results; our ability to remain profitable and grow in a constantly changing market; our potential failure to meet publicly announced guidance or other expectations about our business and future operating results; reputational harm or other adverse consequences resulting from use of artificial intelligence (“AI”) and machine learning (“ML”) in our product offerings and internal operations if they don’t produce the desired benefits; our limited operating history; our history of losses; our potential failure to repurchase shares of our common stock at favorable prices, if at all; failure of our platform to satisfy customer demands; the effects of increased competition; our investments in new products and our ability to introduce new features, services or enhancements, including AI and ML, for both traditional and emerging use cases; our ability to effectively expand our sales and marketing organization; our ability to continue to build and maintain credibility with the developer community; our ability to add new customers or increase sales to our existing customers; our ability to maintain, protect, enforce and enhance our intellectual property; our ability to continue to increase revenue from our Atlas platform; the effects of social, ethical, security and regulatory issues relating to the use of new and evolving technologies, such as AI and ML, in our offerings or partnerships; the possibility that the market for AI-related data infrastructure may not develop as we expect or may favor alternative architectures or competitors; the growth and expansion of the market for database products and our ability to penetrate that market; our ability to maintain the security of our software and adequately address privacy concerns; our ability to manage our growth effectively and successfully recruit and retain additional highly-qualified personnel; our ability to integrate acquisitions and work with our strategic partners effectively; and the price volatility of our common stock. These and other risks and uncertainties are more fully described in our filings with the Securities and Exchange Commission (“SEC”), including under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarter ended April 30, 2026, filed with the SEC on May 29, 2026. Additional information will be made available in our Quarterly Report on Form 10-Q for the quarter ended July 31, 2026, and other filings and reports that the Company may file from time to time with the SEC. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events, changes in expectations or otherwise.

Non-GAAP Financial Measures

This press release includes the following financial measures defined as non-GAAP financial measures by the SEC: non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income, non-GAAP net income per share, and free cash flow. Non-GAAP gross profit and non-GAAP gross margin exclude expenses associated with stock-based compensation. Non-GAAP operating expenses, non-GAAP income from operations, non-GAAP operating margin, non-GAAP net income and non-GAAP net income per share, exclude:

expenses associated with stock-based compensation including employer payroll taxes upon the vesting and exercising of stock-based awards and expenses related to stock appreciation rights previously issued to our employees in China;amortization of intangible assets for the acquired technology and acquired customer relationships associated with prior acquisitions;certain acquisition-related costs and other, including due diligence costs, professional fees in connection with an acquisition and certain integration-related expenses. These expenses are unpredictable, and dependent on factors that may be outside of our control and unrelated to the continuing operations of the acquired business or our Company. In addition, the size and complexity of an acquisition, which often drives the magnitude of acquisition-related costs, may not be indicative of such future costs;legal costs and settlement fees incurred in connection with non-ordinary course litigation, particularly ongoing securities litigation, which are not considered indicative of core operating performance;restructuring costs associated with a formal restructuring plan that are primarily related to workforce reductions. The Company excludes these expenses because they are not reflective of ordinary course ongoing business and operating results; andin the case of non-GAAP net income and non-GAAP net income per share, amortization of the debt issuance costs associated with our convertible senior notes and gains or losses on our financial instruments;additionally, non-GAAP net income and non-GAAP net income per share, are adjusted for an assumed provision for income taxes based on an estimated long-term non-GAAP tax rate as well as the tax charges or benefits resulting from the integration of intellectual property from acquisitions. The non-GAAP tax rate was calculated utilizing a three-year financial projection that excludes the direct impact of the GAAP to non-GAAP adjustments and considers other factors such as operating structure and existing tax positions in various jurisdictions. The Company intends to periodically reevaluate the projected long-term tax rate, as necessary, for significant events and our ongoing analysis of relevant tax law changes.

MongoDB uses these non-GAAP financial measures internally in analyzing its financial results and believes they are useful to investors, as a supplement to GAAP measures, in evaluating MongoDB’s ongoing operational performance. MongoDB believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing its financial results with other companies in MongoDB’s industry, many of which may present similar non-GAAP financial measures to investors.

Free cash flow represents net cash from/used in operating activities, less capital expenditures, principal payments of finance lease liabilities and capitalized software development costs, if any. MongoDB uses free cash flow to understand and evaluate its liquidity and to generate future operating plans. The exclusion of capital expenditures, principal payments of finance lease liabilities and amounts capitalized for software development facilitates comparisons of MongoDB’s liquidity on a period-to-period basis and excludes items that it does not consider to be indicative of its liquidity. MongoDB believes that free cash flow is a measure of liquidity that provides useful information to investors in understanding and evaluating the strength of its liquidity and future ability to generate cash that can be used for strategic opportunities or investing in its business in the same manner as MongoDB’s management and board of directors.

Non-GAAP financial measures have limitations as an analytical tool and should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. In particular, other companies may report non-GAAP gross profit, non-GAAP gross margin, non-GAAP operating expenses, non-GAAP income from operations, non-GAAP net income, non-GAAP net income per share, free cash flow or similarly titled measures but calculate them differently, which reduces their usefulness as comparative measures. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures, as presented below. This earnings press release and any future releases containing such non-GAAP reconciliations can also be found on the Investor Relations page of MongoDB’s website at https://investors.mongodb.com.

Definitions

Remaining Performance Obligations

Remaining performance obligations represent the aggregate amount of the transaction price in contracts allocated to performance obligations not delivered, or partially undelivered, as of the end of the reporting period. Remaining performance obligations include unearned revenue, multi-year contracts with future installment payments and certain unfulfilled orders against accepted customer contracts at the end of any given period. The Company applies the practical expedient to omit disclosure with respect to the amount of the transaction price allocated to remaining performance obligations if the related contract has a total duration of 12 months or less.

About MongoDB

Headquartered in New York, MongoDB’s mission is to empower innovators to create, transform, and disrupt industries with software and data. MongoDB’s unified, intelligent data platform was built to power the next generation of applications, and MongoDB is the most widely available, globally distributed database on the market. With integrated capabilities for operational data, search, real-time analytics, and AI-powered retrieval, MongoDB helps organizations everywhere move faster, innovate more efficiently, and simplify complex architectures. Millions of developers and more than 70,600 customers across almost every industry—including approximately 75% of the Fortune 100—rely on MongoDB for their most important applications. To learn more, visit https://mongodb.com.

Investor Relations

Jess Lubert
jess.lubert@mongodb.com

Media Relations

MongoDB
press@mongodb.com

MONGODB, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands of U.S. dollars, except share and per share data)

(unaudited)

July 31, 2026

January 31, 2026

Assets

Current assets:

Cash and cash equivalents  

$          1,002,401

$          1,083,540

Short-term investments

1,408,853

1,303,701

Accounts receivable, net of allowance for doubtful accounts

458,221

499,002

Deferred commissions  

130,874

131,442

Prepaid expenses and other current assets  

125,637

97,170

Total current assets  

3,125,986

3,114,855

Property and equipment, net  

38,988

39,773

Operating lease right-of-use assets

24,790

28,978

Goodwill  

204,151

191,397

Intangible assets, net

30,731

34,502

Deferred tax assets  

25,096

26,021

Other assets  

327,946

323,322

Total assets  

$          3,777,688

$          3,758,848

Liabilities and Stockholders’ Equity

Current liabilities:

Accounts payable  

$              17,689

$              20,269

Accrued compensation and benefits  

146,031

143,046

Operating lease liabilities

9,371

9,259

Other accrued liabilities  

129,812

109,803

Deferred revenue  

339,462

387,119

Total current liabilities  

642,365

669,496

Deferred tax liability

358

352

Operating lease liabilities

19,224

23,600

Deferred revenue

108,233

83,588

Other liabilities

27,527

29,454

Total liabilities  

797,707

806,490

Stockholders’ equity:

Common stock

82

81

Additional paid-in capital  

4,846,747

5,345,494

Treasury stock

—

(494,569)

    Accumulated other comprehensive income (loss)

(367)

13,207

Accumulated deficit  

(1,866,481)

(1,911,855)

  Total stockholders’ equity

2,979,981

2,952,358

Total liabilities and stockholders’ equity

$          3,777,688

$          3,758,848

 

MONGODB, INC. 

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands of U.S. dollars, except share and per share data)

(unaudited)

Three Months Ended July 31,

Six Months Ended July 31,

2026

2025

2026

2025

Revenue:

Subscription

$      747,147

$      572,355

$      1,413,285

$      1,103,810

Services  

24,626

19,047

46,104

36,606

Total revenue  

771,773

591,402

1,459,389

1,140,416

Cost of revenue:

Subscription(1)

174,251

139,949

339,158

269,534

Services(1)

27,757

31,479

54,291

59,935

Total cost of revenue  

202,008

171,428

393,449

329,469

Gross profit  

569,765

419,974

1,065,940

810,947

Operating expenses:

Sales and marketing(1)  

253,071

244,065

502,405

464,988

Research and development(1)  

213,874

181,739

414,283

350,568

General and administrative(1)  

74,420

59,464

145,656

114,239

Total operating expenses  

541,365

485,268

1,062,344

929,795

Income (loss) from operations  

28,400

(65,294)

3,596

(118,848)

Other income, net  

17,545

22,174

51,143

42,404

Income (loss) before provision for income taxes  

45,945

(43,120)

54,739

(76,444)

Provision for income taxes  

5,005

3,928

9,365

8,230

Net income (loss)

$       40,940

$      (47,048)

$          45,374

$        (84,674)

Net income (loss) per share

Basic

$          0.51

$         (0.58)

$            0.56

$           (1.04)

Diluted

$          0.50

$         (0.58)

$            0.55

$           (1.04)

Weighted-average shares used to compute net
     income (loss) per share

Basic

80,497,631

81,078,234

80,400,680

81,304,435

Diluted

81,995,492

81,078,234

81,850,579

81,304,435

(1) Includes stock‑based compensation expense as follows:

Three Months Ended July 31,

Six Months Ended July 31,

2026

2025

2026

2025

Cost of revenue—subscription  

$        9,205

$        8,831

$          18,093

$          17,226

Cost of revenue—services  

3,424

4,273

6,216

8,167

Sales and marketing  

35,722

36,265

68,403

75,367

Research and development  

74,506

75,113

145,214

141,518

General and administrative  

26,082

15,918

48,843

30,553

Total stock‑based compensation expense  

$      148,939

$      140,400

$        286,769

$        272,831

 

MONGODB, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands of U.S. dollars)

(unaudited)

Three Months Ended July 31,

Six Months Ended July 31,

2026

2025

2026

2025

Cash flows from operating activities

Net income (loss)  

$       40,940

$      (47,048)

$      45,374

$    (84,674)

Adjustments to reconcile net income (loss) to net cash
     provided by operating activities:

Depreciation and amortization  

5,940

5,677

11,495

10,986

Stock-based compensation  

148,939

140,400

286,769

272,831

Amortization of finance right-of-use assets

993

993

1,987

1,986

Amortization of operating right-of-use assets

2,600

2,841

5,178

5,599

Deferred income taxes  

(30)

(1,159)

(11)

(1,134)

Amortization of premium and accretion of discount on
     short-term investments, net

(804)

(2,739)

(1,888)

(6,539)

Realized and unrealized loss (gain) on financial instruments, net

(196)

—

(16,616)

272

Unrealized foreign exchange loss

519

(759)

667

1,211

Change in operating assets and liabilities:

Accounts receivable, net

(69,256)

(38,090)

43,695

41,805

Prepaid expenses and other current assets  

(8,006)

317

(21,394)

(4,656)

Deferred commissions  

(2,121)

6,728

10,118

14,500

Other long-term assets  

(10,222)

1,525

(9,097)

(11,068)

Accounts payable  

(23,273)

1,040

(2,777)

(1,438)

Accrued liabilities  

43,093

16,751

20,291

(2,602)

Operating lease liabilities

(2,924)

(2,063)

(5,400)

(4,751)

Deferred revenue  

15,681

(9,906)

(24,183)

(49,530)

Other liabilities, non-current

5

(2,403)

(699)

(764)

Net cash provided by operating activities  

141,878

72,105

343,509

182,034

Cash flows from investing activities

Purchases of property, equipment and other assets

(2,472)

(537)

(4,791)

(2,148)

Investments in non-marketable securities

—

(3,500)

(3,000)

(8,322)

Business combination, net of cash acquired

(9,237)

—

(9,237)

(2,032)

Proceeds from maturities of marketable securities  

362,000

292,310

621,800

490,970

Proceeds from non-marketable securities

—

—

10,718

—

Purchases of marketable securities  

(387,002)

(198,668)

(739,124)

(337,292)

Net cash provided by (used in) investing activities  

(36,711)

89,605

(123,634)

141,176

Cash flows from financing activities

Repurchases of common stock

(99,999)

(194,446)

(200,254)

(194,446)

Proceeds from the issuance of common stock under the
     Employee Stock Purchase Plan

23,948

22,917

23,948

22,917

Proceeds from exercise of stock options

262

1,210

723

1,789

Taxes paid related to net share settlement of equity
     awards

(59,356)

—

(117,673)

—

Principal payments of finance leases

(1,790)

(1,691)

(3,554)

(4,085)

Net cash used in financing activities  

(136,935)

(172,010)

(296,810)

(173,825)

Effect of exchange rate changes on cash, cash equivalents
     and restricted cash  

(2,180)

68

(3,878)

8,068

Net increase (decrease) in cash, cash equivalents and
     restricted cash  

(33,948)

(10,232)

(80,813)

157,453

Cash, cash equivalents and restricted cash, beginning of
     period  

1,039,760

660,438

1,086,625

492,753

Cash, cash equivalents and restricted cash, end of period  

$   1,005,812

$      650,206

$  1,005,812

$    650,206

 

MONGODB, INC.

RECONCILIATION OF GAAP MEASURES TO NON-GAAP MEASURES

(in thousands of U.S. dollars, except share and per share data)

(unaudited)

Three Months Ended July 31,

Six Months Ended July 31,

2026

2025

2026

2025

Reconciliation of GAAP gross profit to non-GAAP
gross profit:

Gross profit on a GAAP basis

$    569,765

$    419,974

$ 1,065,940

$   810,947

Gross margin (Gross profit/Total revenue) on a GAAP
basis

74 %

71 %

73 %

71 %

Add back:

Expenses associated with stock-based compensation:
Cost of Revenue—Subscription

9,324

8,900

18,471

17,522

Expenses associated with stock-based compensation:
Cost of Revenue—Services

3,605

4,438

7,581

9,024

Restructuring

—

89

—

89

Amortization of intangible assets

3,025

3,025

5,951

5,392

Non-GAAP gross profit

$    585,719

$    436,426

$ 1,097,943

$   842,974

Non-GAAP gross margin (Non-GAAP gross
profit/Total revenue)

76 %

74 %

75 %

74 %

Reconciliation of GAAP operating expenses to non-
GAAP operating expenses:

Sales and marketing operating expense on a GAAP
basis

$    253,071

$    244,065

$   502,405

$   464,988

Less:

Expenses associated with stock-based compensation

37,146

37,689

71,409

77,593

Restructuring

—

4,524

357

4,524

Amortization of intangible assets

185

—

185

—

Non-GAAP sales and marketing operating expense

$    215,740

$    201,852

$   430,454

$   382,871

Research and development operating expense on a
GAAP basis

$    213,874

$    181,739

$   414,283

$   350,568

Less:

Expenses associated with stock-based compensation

76,505

76,290

149,725

144,467

Restructuring

—

159

—

159

Amortization of intangible assets

—

170

113

340

Certain acquisition-related costs and other

—

—

—

40

Non-GAAP research and development operating
expense

$    137,369

$    105,120

$   264,445

$   205,562

General and administrative operating expense on a
GAAP basis

$     74,420

$     59,464

$   145,656

$   114,239

Less:

Expenses associated with stock-based compensation

26,831

16,826

50,501

32,056

Legal fees related to securities litigation

581

—

581

—

Certain acquisition-related costs and other

276

—

579

1,890

Non-GAAP general and administrative operating expense

$     46,732

$     42,638

$    93,995

$    80,293

Reconciliation of GAAP income (loss) from operations to non-
GAAP income from operations:

Income (loss) from operations on a GAAP basis

$     28,400

$    (65,294)

$     3,596

$ (118,848)

GAAP operating margin (Income (loss) from operations/Total 
revenue)

4 %

(11) %

— %

(10) %

Add back:

Expenses associated with stock-based compensation

153,411

144,143

297,687

280,662

Restructuring

—

4,772

357

4,772

Amortization of intangible assets

3,210

3,195

6,249

5,732

Legal fees related to securities litigation

581

—

581

—

Certain acquisition-related costs and other

276

—

579

1,930

Non-GAAP income from operations

$    185,878

$     86,816

$   309,049

$   174,248

Non-GAAP operating margin (Non-GAAP income
from operations/Total revenue)

24 %

15 %

21 %

15 %

Reconciliation of GAAP net income (loss) to non-
GAAP net income:

Net income (loss) on a GAAP basis

$     40,940

$    (47,048)

$    45,374

$   (84,674)

Add back:

Expenses associated with stock-based compensation

153,411

144,143

297,687

280,662

Restructuring

—

4,772

357

4,772

Amortization of intangible assets

3,210

3,195

6,249

5,732

Legal fees related to securities litigation

581

—

581

—

Certain acquisition-related costs and other

276

—

579

1,930

Less:

Gains (loss) on financial instruments, net

196

—

16,616

(272)

Income tax effects and adjustments *

35,640

17,870

59,350

35,155

Non-GAAP net income

$    162,582

$     87,192

$   274,861

$   173,539

Reconciliation of GAAP net income (loss) per share, diluted,
to non-GAAP net income per share, fully diluted:

Net income (loss) per share, diluted, on a GAAP basis

$        0.50

$       (0.58)

$       0.55

$      (1.04)

Add back:

Expenses associated with stock-based compensation

1.91

1.78

3.70

3.45

Restructuring

—

0.06

—

0.06

Amortization of intangible assets

0.04

0.04

0.08

0.07

Legal fees related to securities litigation

0.01

—

0.01

—

Certain acquisition-related costs and other

0.01

—

0.01

0.02

Less:

Gains (loss) on financial instruments, net

—

—

0.21

—

Income tax effects and adjustments *

0.44

0.22

0.74

0.43

Non-GAAP net income per share, diluted

$        2.03

$        1.08

$       3.40

$       2.13

Adjustment for fully diluted earnings per share

(0.13)

(0.08)

(0.19)

(0.13)

Non-GAAP net income per share, fully diluted **

$        1.90

$        1.00

$       3.21

$       2.00

* Non-GAAP financial information is adjusted for an assumed provision for income taxes based on our long-term projected tax rate of 20%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities.

** Fully diluted non-GAAP net income per share is calculated based upon 85.8 million and 85.6 million of fully diluted weighted-average shares of outstanding common stock for the three and six months ended July 31, 2026, respectively, and 87.1 million and 87.0 million of fully diluted weighted-average shares of outstanding common stock for the three and six months ended July 31, 2025, respectively.

 

The following table presents a reconciliation of free cash flow to net cash provided by operating activities, the most directly comparable GAAP measure, for each of the periods indicated (unaudited, in thousands):

 

Three Months Ended July 31,

Six Months Ended July 31,

2026

2025

2026

2025

Net cash provided by operating activities  

$    141,878

$     72,105

$    343,509

$    182,034

Capital expenditures  

(2,472)

(537)

(4,791)

(2,148)

Principal payments of finance leases

(1,790)

(1,691)

(3,554)

(4,085)

Free cash flow  

$    137,616

$     69,877

$    335,164

$    175,801

 

 MONGODB, INC.

 RECONCILIATION OF GAAP GUIDANCE TO NON-GAAP GUIDANCE

 THIRD QUARTER & FULL YEAR FISCAL 2027

 (in millions of U.S. dollars, except share and per share data)

 (unaudited) 

Third Quarter

Fiscal 2027

Full Year

Fiscal 2027

Income (loss) from operations – GAAP guidance

$(14.5) to $(10.5)

$(28.0) to $(8.0)

Add back:

Expenses associated with stock-based compensation

162.7

628.9

Restructuring

—

0.4

Amortization of intangible assets

3.2

12.6

Legal fees related to securities litigation

0.5

1.6

Certain acquisition-related costs and other

0.1

0.8

Income (loss) from operations – non-GAAP guidance

$152.0 to $156.0

$616.3 to $636.3

Third Quarter

Fiscal 2027

Full Year

Fiscal 2027

Net income per share – GAAP guidance

$0.00 to $0.05

$0.53 to $0.77

Add back:

Expenses associated with stock-based compensation

1.95

7.60

Restructuring

—

0.01

Amortization of intangible assets

0.04

0.16

Legal fees related to securities litigation

0.01

0.02

Certain acquisition-related costs and other

—

0.01

Less:

Gains (loss) on financial instruments, net

—

0.21

Income tax effects and adjustments*

0.36 to 0.37

1.45 to 1.50

Adjustment for fully diluted earnings per share

(0.07)

(0.28)

Net income per share – non-GAAP guidance

$1.57 to $1.61

$6.39 to $6.58

* Non-GAAP financial information is adjusted for an assumed provision for income taxes based on our long-term projected tax rate of 20%. Due to the differences in the tax treatment of items excluded from non-GAAP earnings, our estimated tax rate on non-GAAP income may differ from our GAAP tax rate and from our actual tax liabilities.

 

MONGODB, INC.

CUSTOMER COUNT METRICS

(unaudited)

The following table presents certain customer count information as of the periods indicated:

7/31/2024

10/31/2024

1/31/2025

4/30/2025

7/31/2025

10/31/2025

1/31/2026

4/30/2026

7/31/2026

Total Customers(a)

50,700+

52,600+

54,500+

57,100+

59,900+

62,500+

65,200+

67,700+

70,600+

MongoDB Atlas Customers

49,200+

51,100+

53,100+

55,800+

58,500+

61,200+

63,900+

66,400+

69,300+

Customers over $100K(b)

2,189

2,314

2,396

2,506

2,564

2,694

2,799

2,895

2,999

(a) Our definition of “customer” excludes users of our free offerings and all affiliated entities are counted as a single customer.

(b) Represents the number of customers with $100,000 or greater in annualized recurring revenue (“ARR”). ARR includes the revenue we expect to receive from our customers over the following 12 months based on contractual commitments and, in the case of Direct Sales Customers of Atlas, by annualizing the prior 90 days of their actual consumption of Atlas, assuming no increases or reductions in their subscriptions or usage. For all other customers of our self-serve products, we calculate ARR by annualizing the prior 30 days of their actual consumption of such products, assuming no increases or reductions in usage. ARR excludes professional services.

 

MONGODB, INC.

SUPPLEMENTAL REVENUE INFORMATION

(unaudited)

The following table presents certain supplemental revenue information as of the periods indicated:

7/31/2024

10/31/2024

1/31/2025

4/30/2025

7/31/2025

10/31/2025

1/31/2026

4/30/2026

7/31/2026

MongoDB Enterprise
Advanced: % of
Subscription Revenue

24 %

25 %

23 %

22 %

21 %

20 %

21 %

21 %

21 %

 

The following table presents the Company’s revenues disaggregated by geography, based on address of the Company’s customers (in thousands):

 

Three Months Ended July 31,

Six Months Ended July 31,

Primary geographical markets:

2026

2025

2026

2025

Americas  

$      478,261

$      364,245

$      890,598

$      697,111

EMEA

$      210,298

$      160,960

404,976

311,726

Asia Pacific  

83,214

66,197

163,815

131,579

Total  

$      771,773

$      591,402

$   1,459,389

$   1,140,416

 

The following table presents the Company’s revenues disaggregated by subscription product categories and services (in thousands):

 

Three Months Ended July 31,

Six Months Ended July 31,

Subscription product categories and services:

2026

2025

2026

2025

Atlas-related

$      565,916

$      438,970

$   1,078,382

$      834,863

MongoDB Enterprise Advanced and other

181,231

133,385

334,903

268,947

Services

24,626

19,047

46,104

36,606

Total  

$      771,773

$      591,402

$   1,459,389

$   1,140,416

 

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SOURCE MongoDB, Inc.

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Rohit Sharma Joins Freyr Energy as its First Brand Ambassador; Launches ‘Solar Ho, Toh Freyr Ho!’ Campaign

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• India’s World Cup-winning captain fronts a nationwide campaign urging families to choose a rooftop solar partner they can count on for the next 30 years

• Freyr’s “Rishta Pakka” ad film features brand ambassador Rohit Sharma

National, Oct. 17, 2026 /PRNewswire/ — Freyr Energy, India’s second-largest residential rooftop solar company under the PM Surya Ghar: Muft Bijli Yojana, announced Rohit Sharma, India’s World Cup-winning captain, as its first-ever brand ambassador. The association launches with ‘Solar Ho, Toh Freyr Ho!’, a nationwide campaign built on a simple idea: rooftop solar is a 30-year decision, and it deserves a company that delivers year after year. The campaign also features an ad film, “Rishta Pakka,” with Rohit Sharma as the protagonist, talking about solar, subsidies, and its benefits through a humour-led narrative.

The partnership brings together two records of consistency and benchmark-setting. Rohit Sharma has spent nearly two decades delivering at the highest level of international cricket, setting standards others now measure themselves against. Freyr Energy has done the same on India’s rooftops for more than a decade, designing, financing, installing and servicing 24,000+ solar systems across 40+ cities, and introducing industry firsts such as its Freyr Energy App, self-cleaning solar systems and solar experience centres. The launch comes at a turning point for the category, with the PM Surya Ghar Yojana bringing millions of Indian families to rooftop solar for the first time. Eligible households can access government subsidy support of up to ₹78,000, while financing options at low and competitive interest rates can further reduce the upfront financial burden of making the switch. A solar system is meant to perform for decades, long after installation day, so the real risk for a family is not whether to go solar, but whom to trust with it. ‘Solar Ho, Toh Freyr Ho!’ is built to answer that question.

Saurabh Marda, Co-founder & Managing Director, Freyr Energy, said, “Our aim has always been to raise the bar for what Indian homeowners can expect from rooftop solar, not just on installation day but across the 30-year life of their system. Rohit has spent his career doing exactly that in cricket, which made him the natural choice as our first brand ambassador.”

Radhika Choudary, Co-founder & Director, Freyr Energy, said, “When a family puts solar on its roof, they are trusting a company for the next 30 years. That company has to show up every time and stand behind the family’s decision long after the system is switched on. ‘Solar Ho, Toh Freyr Ho!’ says that in five words, and no one says it better than Rohit.”

Speaking about the association, Rohit Sharma, exclusively managed by RISE Worldwide, said, “Protecting the environment has been close to my heart for years. Rooftop solar gives families a chance to do their bit for the planet, and it’s important to have a partner you can trust for the journey. That’s what drew me to Freyr Energy. I’m happy to be part of their campaign, encouraging more families to embrace solar and choose a cleaner, more sustainable future.”

Rajan Mahalingam, Marketing Head, Freyr Energy, said, “‘Solar Ho, Toh Freyr Ho!’ is built to make Freyr the first name families think of when they consider rooftop solar. Rohit’s reputation for consistency and trust mirrors what we promise every customer, and that gives the campaign an authenticity audiences will connect with. We look forward to taking this message to millions of homes across India.”

The ad film “Rishta Pakka” is live across Freyr Energy’s YouTube channel on: https://youtu.be/SW_0c1FSaQU   

About Freyr Energy

Founded in 2014 by Saurabh Marda and Radhika Choudary, Freyr Energy is India’s second-largest residential rooftop solar company under the PM Surya Ghar: Muft Bijli Yojana, with 24,000+ installations for homes and businesses across 40+ cities. The company brings system design, installation, financing assistance and technology-enabled customer support under one roof to make the switch to rooftop solar simple and dependable.

 

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Thousands of Suppliers, Nine Buyer Delegations, Three Major Trends: The 35th Guzhen Lighting Fair Opens October 22 to Chart New Directions for the Industry

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ZHONGSHAN, China, Oct. 17, 2026 /PRNewswire/ — This October, the global lighting industry will once again turn its attention to the Pearl River Delta. The 2026 China (Guzhen) International Lighting Fair (Autumn Edition), also known as the 35th Guzhen Lighting Fair, will take place from October 22 to 25, 2026, at the Guzhen Convention and Exhibition Center in Zhongshan, Guangdong. Thousands of suppliers, nine buyer delegations, three major trends. They represent a major collective showcase for China’s lighting industry at a time of profound change in global trade.

Highlight 1: A New National Milestone for the Lighting Industry’s Only National-Level Trade Event

The Guzhen Lighting Fair’s standing begins with its national credentials. Approved by the Ministry of Commerce of the People’s Republic of China as a national-level exhibition and certified by UFI, the Global Association of the Exhibition Industry, this edition draws on a strong industrial base: a RMB 100 billion-plus lighting industry cluster centered on Guzhen and encompassing 11 towns and subdistricts across three surrounding cities.

Notably, the fair has been included in the 2026 National Consumer Goods Campaign Key Activity List, jointly issued by the Ministry of Industry and Information Technology and the Ministry of Culture and Tourism. It is the only major annual trade event from the lighting industry included on the list. The fair is also listed in the Guangdong Department of Commerce’s 2026 Guangdong Trade Nationwide program. These endorsements recognize the collective strength of Guzhen’s lighting industry and mark the fair’s rise from an industry exhibition to a national showcase.

Highlight 2: Seven themed Halls Reflect the Industry’s Evolving Priorities

All seven halls at the main venue have been upgraded, creating a new exhibition and trading layout in which each hall has a distinct theme and identity.

The seven-hall layout reveals three clear trends: increasingly sophisticated smart technologies, the return of design and aesthetics to the mainstream, and greater supply chain autonomy and control. Hall A, Urban Lighting and Smart Engineering, focuses on smart lighting and project lighting. Hall B, inter and commercial lighting, brings together decorative fixtures, residential lighting, and commercial lighting. Hall C, outdoor and special lighting, covers outdoor lighting, lighting for cultural and tourism attractions, and special-purpose fixtures. Halls D and E, lighting manufacturing and supply-chain, connect machinery, auxiliary materials and components, and supporting services. Hall F, smart home and living decor, combines smart home technologies with decorative furnishings and accessories. Hall H, new brands and cross-border sourcing, gives buyers a one-stop product sourcing destination.

The fair will showcase advances in three major areas. In AI integration, lighting control systems powered by large AI models and wireless AIoT lighting solutions will deliver more responsive experiences, with light adapting to people’s movements. In health-focused lighting, highlights include classroom lighting solutions designed to meet China’s new national standards, along with human-centric lighting and products tailored to older adults. In green and low-carbon development, the displays will span high-efficiency energy-saving technologies, solar photovoltaic and energy storage applications, and innovations in environmentally friendly materials.

Highlight 3: Targeted Sourcing for a Thousand Buyers Shifts the Focus from Visitor Traffic to Lasting Business

This edition will assemble nine professional buyer delegations. Six domestic groups will cover smart lighting systems, decorative lighting, linear lighting, wholesale distribution, the full range of lighting products, and intelligent lighting. Under the banner “Hundreds of Businesses, Nationwide Connections: Leading Lighting Distributors’ Sourcing Delegation,” the fair will invite selected company executives and decision-makers to attend with concrete sourcing plans. Three further delegations will bring together key overseas buyers, media and associations, and key opinion leaders (KOLs).

This approach shifts the emphasis from visitor traffic to a sustained flow of orders. Using the IIRIS data management system, the fair will identify high-quality buyers, establish qualification criteria for major buyers, and build a year-round service framework. By extending short-term connections at the fair into year-round trade support, it will help exhibitors turn a four-day encounter into year-round business relationships.

Highlight 4: The Hosted Buyer Program Combines Business Matching, VIP Sourcing Tour, and Networking Party

The fair’s flagship Hosted Buyer Program (HBP) will return with an expanded program, inviting hundreds of overseas buyers to join an international sourcing delegation. The business matching area in Hall H will host five Denggle.com Business Matching, four for overseas buyers and one for domestic buyers. The proven format combines pre-event research into buyers’ needs, targeted invitations, and one-on-one matching in a dedicated meeting area during the fair. It will cover major lighting markets including Southeast Asia, South Asia, Europe, the Americas, and Africa.

A distinctive addition is the partnership with GZCD•STAR ALLIANCE for the “Stars Gather at Star Alliance: A Global Search for Lighting” event series. Activities will include a guided tour for 40 overseas buyers, store visits by KOLs, and the “206 Hosted Buyer Program Networking Party.” Together, they will create an integrated program of exhibition matchmaking, direct sourcing at lighting malls, and social networking over cocktails.

This combination of exhibition halls and lighting malls, formal business meetings and informal networking, sets the Guzhen Lighting Fair apart. Behind the event is Guzhen’s extensive local industry. In China’s Lighting Capital, the entire town serves as a showroom, with opportunities to do business throughout the area. This is the foundation of the fair’s distinctive strength: industry concentration drives efficiency, and location creates a competitive advantage that is hard to replicate.

Highlight 5: Five Lighting Forums Address the Industry’s Challenges and Next Steps

This edition will feature five themed forums, all centered on light.

“Illuminating Prospects: Forum on Industry Trends and New Opportunities in Guzhen” will examine the reshaping of global trade and the direction of industrial policy, exploring how the industry can move from selling lighting products to providing lighting solutions and services.

The “Building Intelligence with Light, Achieving Low-Carbon Coexistence” forum will focus on green, low-carbon IoT applications, wireless AIoT lighting, and upgrades to smart manufacturing in factories.

“Expanding Markets with Light, Making Retail Breakthroughs,” a distribution alliance forum, will address declining foot traffic for dealers and encourage shared access to customer bases and joint brand initiatives among lighting malls.

“Light for All Homes, Harmonious Living,” a forum on health-focused lighting, will explore lighting environments that serve people of all ages and the standardization of lighting for older adults.

“Global Reach with Light, Profit at the Endpoints,” a practical matchmaking forum on cross-platform customer acquisition through new media and overseas expansion, will focus on AI-powered customer acquisition across new media channels and generative engine optimization (GEO).

The five events will be organized in collaboration with leading bodies including the China Association of Lighting Industry, the Guangdong Lighting Association, and the Guangdong Electronic Commerce Association. They will cover industry trends, smart manufacturing, retail channels, health-focused lighting, and overseas expansion through new media. Their themes address both where businesses should go and how to get there. Combining strategic direction with practical methods is precisely the value industry dialogue should deliver.

Highlight 6: A Networking Party Builds Industry Consensus Through Recognition

To mark its 35th edition, the fair will hold the 35th Guzhen Lighting Fair Sourcing and Supply Information Networking Dinner on the evening of October 22. The organizing committee will launch a “Gold Partners” recognition program, with awards across several categories honoring companies that have supported the fair over the long term, demonstrated sustained commitment to the industry, and excelled in their respective fields.

By recognizing exemplary businesses, the program will establish industry role models, strengthen longstanding exhibitors’ connection to the fair, and demonstrate to global buyers the industry’s commitment to quality and a strong reputation for reliability. Around 250 key guests are expected to be invited, including representatives of government, business and industry associations, industrial bases, and high-caliber exhibitor partners. With the fair as a meeting point, the dinner will help companies support one another and strengthen ties between individual businesses and the wider industry.

Highlight 7: The 2026 Short-Video & Live Creator Contest Award Ceremony and KOL Tours Test New Ways for a Traditional Trade Fair to Reach Wider Audiences

“Good Lighting in Guzhen: The 2026 Short-Video & Live Creator Contest Award Ceremony” has evolved into a year-round signature event on Douyin and WeChat Channels. It features two categories, short-form video and on-site livestreaming, with quarterly popularity awards, annual grand prizes, and other honors. Recognition, audience metrics, and cash prizes will encourage participation by industry buyers and sellers, creators, and influencers.

The “Star Scout KOL Sourcing Group” will bring together more than 30 short-video creators specializing in lighting. Through in-depth short videos and on-site livestreams, they will explore the fair and amplify its reach across their combined online channels. Campaign-related content is expected to generate more than one million impressions over the full campaign period.

The Data Foundation: A Buyer Database of Over 1.3 Million Records and Year-Round Online Exhibitions and Trade

For promotion and buyer outreach, the fair uses the IIRIS data management system to draw on more than 1.3 million global buyer records. It works with over 150 trade and general-interest media outlets and web portals, alongside a social media presence on WeChat, Douyin, Kuaishou, Xiaohongshu, and Weibo, to send multiple rounds of targeted invitations to buyers in more than 140 countries and regions. Offline, it partners with over ten industry print publications and sends promotion teams to more than 40 lighting wholesale markets across China. Outdoor advertising will also appear along Guzhen’s main roads, on shuttle buses, and on LED displays.

On the digital side, the fair’s specialized B2B trading website, Denggle.com, and its online exhibition and e-commerce platform, Denggle EZbuy, use big data and intelligent recommendations to match buyers and suppliers precisely, providing online exhibition and trading services 365 days a year. By extending a four-day fair into a year-round online presence and complementing in-person connections with data-driven matching, the Guzhen Lighting Fair is redefining the reach of a lighting exhibition, extending it beyond its physical venue and four-day run.

Since its launch in 1999, the Guzhen Lighting Fair has held 34 successful editions over 27 years. From a regional ordering fair to an international exhibition and trading platform spanning more than 1.5 million square meters, each stage of its development has kept pace with the transformation of China’s lighting industry.

As AI integration reshapes lighting products, health-focused lighting responds to people’s aspirations for a better life, and green, low-carbon practices become a requirement for access to global supply chains, the 35th Guzhen Lighting Fair offers more than seven event highlights. It presents a promising vision for the future of China’s lighting industry.

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SOURCE China (Guzhen) International Lighting Fair

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DR. PHONE FIX ANNOUNCES AMENDMENT TO INTEREST CONVERSION TERMS OF CONVERTIBLE DEBENTURES

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/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/

EDMONTON, AB, Oct. 16, 2026 /CNW/ — Dr. Phone Fix Canada Corporation (“Dr. Phone Fix” or the “Company”) (TSXV: DPF) announces that it has entered into an amending agreement dated October 8, 2026 (the “Amending Agreement”) to amend the mechanics for converting accrued and unpaid interest under its unsecured convertible debentures issued on June 24, 2026 and July 17, 2026 in the aggregate principal amount of $1,608,000 and bearing interest at 10% per annum (the “Debentures”). The conversion price applicable to the principal amount of the Debentures is not affected by the amendments.

Under the Amending Agreement, the principal amount of the Debentures remains convertible, at the option of the holder, at any time on or before the maturity date into common shares of the Company (“Common Shares”) at a conversion price of $0.16 per Common Share. Accrued and unpaid interest on the Debentures remains convertible into Common Shares at the option of the holder, but at a deemed price per Common Share (the “Interest Conversion Price”) equal to the closing price of the Common Shares on the TSX Venture Exchange (the “TSXV”) on the last trading day before the holder delivers a notice electing to convert interest (an “Interest Conversion Notice”), provided that the Interest Conversion Price will not be less than the Market Price (as defined in the policies of the TSXV) on that trading day.

An Interest Conversion Notice must be delivered within the five trading days before the date on which the applicable interest becomes payable, including on conversion of the principal amount, in which case the Interest Conversion Notice is to be delivered together with the conversion notice. Any issuance of Common Shares in satisfaction of interest is subject to the prior acceptance of the TSXV, and any interest that is not converted, or for which TSXV acceptance is not obtained, will be paid in cash. The form of conversion notice attached to the Debentures has been updated to reflect these amendments. All other terms of the Debentures remain unchanged.

The terms of the Debentures provide that they may be amended with the consent of the holders of a majority of the aggregate principal amount of the Debentures outstanding, and that all holders are bound by any amendment so approved. Holders of more than 50% of the aggregate principal amount of the outstanding Debentures have consented to the Amending Agreement. Accordingly, the amendments are binding on all holders of Debentures, whether or not they executed the Amending Agreement and whether or not replacement certificates are issued.

The amendments to the Debentures remain subject to the acceptance of the TSXV.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. Such securities have not been, and will not be, registered under the U.S. Securities Act, or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

About Dr. Phone Fix

Dr. Phone Fix is an award-winning, eco-friendly, and customer-centric integrated device care platform providing repair, refurbishment, certified pre-owned devices, trade-in solutions, accessories and related services through its growing national retail network. Founded in 2019, the Company serves consumers and businesses across multiple Canadian markets, delivering convenient and reliable device care solutions through its corporately owned retail network. With a focus on operational execution, customer service and sustainability, Dr. Phone Fix continues to expand its national platform while supporting the repair, reuse and extension of the useful life of connected devices.

NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE.

Forward-Looking Information and Cautionary Statements

Certain information in this news release constitutes forward-looking statements under applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend” or the negative of these terms and similar expressions. Forward-looking statements in this news release include statements relating to: the acceptance of the amendments to the Debentures by the TSXV; and the conversion of principal and interest under the Debentures and the issuance of Common Shares in connection therewith. Forward-looking information in this news release is based on certain assumptions and expected future events, namely: the Company’s financial condition and development plans do not change as a result of unforeseen events; and the Company will be able to obtain the financing required in order to develop and continue its business and operations. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the Company’s inability to obtain TSXV acceptance of the amendments to the Debentures or of any issuance of Common Shares in satisfaction of interest; market conditions and investor demand for the Company’s securities; and general economic and market conditions. Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.

SOURCE Dr. Phone Fix

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