$MNDY (+6,21%) | monday. com Q2 2024 Earnings Highlights:
๐น Adj EPS: $0.94 (Est. $0.56) ๐ข
๐น Revenue: $236M (Est. $229M) ๐ข; UP +34.2% YoY
๐น Gross Margin: 90.8% (Est. 89.7%) ๐ข; UP 101 bps YoY
๐น Operating Income: $38M (Est. $20M) ๐ข; UP 126% YoY
๐น Operating Margin: 16.3% (Est. 8.8%) ๐ข; UP 661 bps YoY
๐น Free Cash Flow: $51M (Est. $50M) ๐ข; UP +10.5% YoY
๐น Billings: $251M (Est. $247M) ๐ข; UP +29.3% YoY
Q3 Outlook::
๐น Revenue Guidance: $245M (Est. $243M) ๐ข; UP +29.6% YoY
๐น Operating Income: $21M (Est. $21M) ๐ก
๐น Operating Margin: 8.6% (Est. 8.5%) ๐ก
FY'24 Outlook:
๐น Revenue Guidance: $959M (Est. $947M) ๐ข; UP +31.3% YoY
๐น Operating Income: $103M (Est. $82M) ๐ข; UP +65.3% YoY
๐น Operating Margin: 10.7% (Est. 8.7%) ๐ข; UP 220 bps YoY
Business Highlights:
๐ธ Net Dollar Retention Rate: 110%
๐ธ Net Dollar Retention Rate for Customers with More than 10 Users: 114%
๐ธ Net Dollar Retention Rate for Customers with More than $50,000 in ARR: 114%
๐ธ Net Dollar Retention Rate for Customers with More than $100,000 in ARR: 114%
๐ธ Paid Customers with More than 10 Users: 57,203, UP +15% YoY
๐ธ Paid Customers with More than $50,000 in ARR: 2,713, UP +43% YoY
๐ธ Paid Customers with More than $100,000 in ARR: 1,009, UP +49% YoY
๐ธ Closed the largest deal in company history with a multinational healthcare company, expanding seat count to 80,000 seats
CEO Roy Mann and Eran Zinman:
๐ธ "Q2 marks three years since our debut on the Nasdaq, and weโre more excited than ever about the opportunities we see ahead. We continue to drive strong and efficient growth, while constantly innovating to ensure that our go-to-market strategy, products, and platform can effectively scale as our customers grow. In Q2, these ongoing investments enabled us to more than triple our largest seat count as we continue to focus on expanding upmarket."