analyticsData & Analytics / DevTools & Observability
Data as of Q1 2026
Summary Verdict
MDB: 3—ESTC: 2wins
Rule of 40
43.1MDB
34.7ESTC
check_circleMDB leads
Revenue Growth
22.8%MDB
17.0%ESTC
check_circleMDB leads
Gross Margin
72%MDB
74%ESTC
check_circleESTC leads
FCF Margin
20.3%MDB
17.6%ESTC
check_circleMDB leads
Operating Margin
-5.6%MDB
-3.7%ESTC
check_circleESTC leads
NRR
—MDB
—ESTC
Metric
Rule of 40Efficiency score
MDB
43.1check_circle
ESTC
34.7
Revenue GrowthYoY
MDB
22.8%check_circle
ESTC
17.0%
Gross Margin% of revenue
MDB
72%
ESTC
74%check_circle
FCF MarginFree cash flow
MDB
20.3%check_circle
ESTC
17.6%
Operating MarginGAAP
MDB
-5.6%
ESTC
-3.7%check_circle
NRRNet retention
MDB
N/A
ESTC
N/A
EV / RevenueValuation multiple
MDB
8.3x
ESTC
3.4xcheck_circle
Market CapUSD
MDB
$21.2Bcheck_circle
ESTC
$5.1B
ARR GrowthYoY
MDB
N/A
ESTC
N/A
CAC PaybackMonths to recover
MDB
N/A
ESTC
N/A
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Analysis
As of Q1 2026, MongoDB, Inc. trades at 8.3x EV/Revenue versus Elastic N.V. at 3.4x. On the Rule of 40, MongoDB, Inc. scores 43.1 compared to Elastic N.V.'s 34.7, placing MongoDB, Inc. ahead in operating efficiency. Gross margins stand at MongoDB, Inc. 72% vs Elastic N.V. 74%.