MongoDB Inc. (MDB) shares declined more than 6% Friday as the database platform provider for developers posted ♛guidance that missed estimates, driven by the loss♐ of some of its expected business.

The company said late Thursday that it anticipates current-quarter 澳洲幸运5官方开奖结果体彩网:earnings per share (EPS) of 34 cents to 39 cents, and revenue in the range of $436 million to $440 million. It sees full-year EPS between $2.27 and $2.49, and sales of $1.90 billion to $1.93 billion. All were less than 澳洲幸运5官方开奖结果体彩网:analysts’ forecasts.

MongoDB said that the outlook “reflects the impact of over $80 million of FY24 revenue, related to multi-year term licenses and unused Atlas commitments, that we do not expect to realize in FY25.” Atlas is a cloud-based database that handles deployments on cloud service providers Amazon.com Inc.'s (AMZN) AWS, Google's (GOOGL) Cloud, and Microsoft Corp.'s (MSFT) Azure.

In addition, 澳洲幸运5官方开奖结果体彩网:Chief Financial Officer (CFO) Michael Gordon told analysts that MongoDB will be facing higher labor costs as it increases headcount to a mid-teens percentage during the year. He noted that the company predicts a decline in 澳洲幸运5官方开奖结果体彩网:operating margin from fiscal 2024.

In the fourth quarter, the comꦆpany reported EPS of 86 cents, with total revenue 27% higher at $458.0 million.𓆉 Both were above expectations.

Shares of MongoDB had been up more than 100% year-over-year in the month before Friday’s selloff, but they remain about 84% higher. At 1:55 p.m. ET, MongoDB stock was down𒀰 6.8% at $383.97.