The earnings call highlighted strong revenue growth, a significant ARR milestone, and robust product development. However, challenges such as slowing net new customer growth, slower-than-expected performance in monday Dev, and upcoming management transitions provide areas of concern.

Company Guidance

In the third quarter of fiscal year 2024, monday.com provided guidance reflecting strong financial performance and strategic growth initiatives. The company achieved a significant milestone, surpassing $1 billion in annual recurring revenue (ARR). For Q3 2024, total revenue reached $251 million, marking a 33% increase year-over-year, with a net dollar retention rate (NDR) of 111%, indicating stable customer retention and expansion. The gross margin was maintained at 90%, while net income rose to $45 million, resulting in diluted net income per share of $0.85. Looking ahead, monday.com expects Q4 revenue between $260 million to $262 million, representing a 28% to 29% growth year-over-year, and forecasts full-year 2024 revenue in the range of $964 million to $966 million, reflecting approximately 32% growth. The company anticipates a non-GAAP operating income of $121 million to $123 million and free cash flow between $286 million to $289 million for the entire fiscal year.

Surpassing $1 Billion ARR

monday.com reached over $1 billion in annual recurring revenue (ARR), a significant milestone for the company, showcasing strong growth and market presence.

Revenue Growth of 33%

Total revenue for Q3 2024 was $251 million, marking a 33% increase from the previous year.

Strong Product Development

Significant advancements in product offerings, including the introduction of monday AI and the upcoming release of monday Service, which shows promising cross-sell potential.

Net Income Increase

Net income for Q3 2024 increased to $45 million from $33 million in the previous year, with a diluted net income per share of $0.85.

High Gross Margin

The company reported a third-quarter gross margin of 90%, expecting it to remain in the high 80s in the medium to long term.

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Monday.com (MNDY) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MNDY Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Feb 17, 2025	2024 (Q4)	0.79 / -	0.65	―	―	―
Nov 11, 2024	2024 (Q3)	0.63 / 0.85	0.64	32.81% (+0.21)
Aug 12, 2024	2024 (Q2)	0.56 / 0.94	0.41	129.27% (+0.53)
May 15, 2024	2024 (Q1)	0.40 / 0.61	0.14	335.71% (+0.47)
Feb 12, 2024	2023 (Q4)	0.33 / 0.65	0.44	47.73% (+0.21)
Nov 13, 2023	2023 (Q3)	0.20 / 0.64	0.05	1180.00% (+0.59)
Aug 14, 2023	2023 (Q2)	0.17 / 0.41	-0.33	224.24% (+0.74)
May 15, 2023	2023 (Q1)	-0.28 / 0.14	-0.96	114.58% (+1.10)
Feb 13, 2023	2022 (Q4)	-0.36 / 0.44	-0.26	269.23% (+0.70)
Nov 14, 2022	2022 (Q3)	-0.54 / 0.05	-0.26	119.23% (+0.31)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MNDY Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Nov 11, 2024	$324.31	$275.21	-15.14%
Aug 12, 2024	$225.70	$259.05	+14.78%
May 15, 2024	$181.86	$220.72	+21.37%
Feb 12, 2024	$235.92	$212.01	-10.13%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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