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The latest data point for MDB's EV/EBITDA ratio in Q4'26 stands at -1365.91, reflecting a substantial deepening of negative valuation relative to earnings before interest, taxes, depreciation, and amortization, which underscores ongoing profitability challenges and potential market concerns over future cash flows. Over the period from Q1'24 to Q4'26, the EV/EBITDA ratio has exhibited a consistent downward trajectory, starting at -100.4 and progressively worsening to -1365.91, with notable acceleration in negativity after Q1'25, where it shifted from a relative stabilization around -120 to -150 into steeper declines exceeding -1000 by Q3'26. This area chart trend highlights increasing volatility and deteriorating financial health, as the metric's rapid deterioration suggests expanding enterprise value against shrinking or negative EBITDA, warranting caution for analysts evaluating MDB's growth sustainability.