According to a recent report, the Cloud Database and DBaaS Market grew at 11% CAGR from 2019 to 2022. It is expected to grow at 15% CAGR to reach $40 billion by 2029 from $16 billion in 2022. MongoDB (Nasdaq: MDB) recently reported its first-quarter results that surpassed market expectations. MongoDB's Financials MongoDB's revenues for the quarter grew 29% to $368.3 million, ahead of the market's forecast by 6.35%. Adjusted earnings of $0.56 per share was also ahead of the Street's forecast of $0.19 per share. By segment, Subscription revenues grew 29% to $354.7 million, and Services revenues grew 25% to $13.6 million. For the second quarter, MongoDB expects revenues of $388-$392 million and a net income of $0.43-$0.46 per share. It expects to end the year with revenues of $1.522-$1.542 billion and a net income of $1.42-$1.56 per share. The market was looking for revenues of $357.46 million for the quarter with earnings of $0.15 per share and revenues of $1.5 billion with