$MNDY (+6.21%) | Monday. com Q3 '24 Earnings Highlights:

🔹 Revenue: $251M (Est. $246.1M) 🟢; UP +33% YoY

🔹 Adjusted EPS: $0.85 (Est. $0.63) 🟢

🔹 Non-GAAP Operating Margin 13%

🔸 Chief Revenue Officer, to step down

Q4 '24 Guidance:

🔹 Revenue: $260M-$262M (Est. $261M) 🟡

🔹 Non-GAAP Operating Income: $29M-$31M; Operating Margin 11%-12%

🔹 Free Cash Flow: $63M-$66M; Free Cash Flow Margin 24%-25%

FY24 Guidance:

🔹 Revenue: $964M-$966M (Est. $960.3M) 🟡

🔹 Non-GAAP Operating Income: $121M-$123M; Operating Margin 12%-13%

🔹 Free Cash Flow: $286M-$289M; Free Cash Flow Margin ~30%

Key Business Metrics:

🔸 Annual Recurring Revenue (ARR): Surpassed $1B

🔸 Net Dollar Retention Rate: 111% overall, 114% for customers with >10 users, 115% for customers with >$50K or >$100K in ARR

🔸 Paid Customers >10 Users: 58,760, UP +13% YoY

🔸 Paid Customers >$50K ARR: 2,907, UP +40% YoY

🔸 Paid Customers >$100K ARR: 1,080, UP +44% YoY

Leadership Updates:

🔸 Adi Dar appointed as Chief Operating Officer, bringing extensive experience from global technology firms

🔸 Yoni Osherov, Chief Revenue Officer, to step down at the end of 2024; a search for his successor is underway 👀

CEO Commentary:

🔸 "Reaching $1B in ARR is a major milestone. We’re excited to build on this foundation, focusing on growth and enhancing our platform for customers of all sizes."

CFO Eliran Glazer’s Commentary:

🔸 "With solid revenue growth and profitability, we’re confident in our ability to continue delivering strong growth at scale."