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Monday.com
🇮🇱 NASDAQ:MNDY
•
Dec 31, 2024

Monday.com Q4 2024 Earnings Report

Key Takeaways

monday.com reported strong Q4 FY24 results with revenue growth of 32% YoY to $268.0 million. The company achieved record non-GAAP operating income and increased net dollar retention rate to 112%.

Total Revenue
$268M
Previous year: $203M
+32.3%
EPS
$1.08
Previous year: $0.65
+66.2%
Customers >$100k ARR
1.21K
Previous year: 833
+44.9%
Customers >$50k ARR
3.2K
Previous year: 2.3K
+39.5%
Customers with 10+ users
59.21K
Previous year: 53.69K
+10.3%
Gross Profit
$237M
Previous year: $193M
+22.8%
Cash and Equivalents
$1.46B
Previous year: $1.12B
+31.0%
Free Cash Flow
$75M
Previous year: $55.4M
+35.3%
Total Assets
$1.69B
Previous year: $1.28B
+32.1%

Monday.com Revenue

Monday.com EPS

Forward Guidance

monday.com expects continued revenue growth in Q1 FY25 and FY25, with a focus on AI-powered products and operational efficiencies.

Positive Outlook

  • Projected Q1 FY25 revenue growth of 26% to 27%.
  • Full-year FY25 revenue expected to grow 24% to 26%.
  • Non-GAAP operating margin projected to improve to 11%-12%.
  • Anticipated free cash flow of $300M to $308M for FY25.
  • Expansion of AI offerings with Digital Workforce and AI Agents.

Challenges Ahead

  • Foreign exchange impact expected to be negative 100 to 200 basis points.
  • Higher operating expenses to support AI investments.
  • Continued macroeconomic uncertainties affecting enterprise spending.
  • Competitive pressures in the work management software market.
  • Potential volatility in customer retention rates.