Monday.com (NASDAQ: MNDY) Surged In Early Monday Trading
Monday.com Earnings
a. The third quarter revenue was $189.2 million, a 38% year-over-year growth.
b. A 57% increase year-over-year in customers contributing more than 50k in annual recurring revenue (ARR).
c. A record quarterly non-GAAP operating margin and free cash flow.
d. The firm beat estimates with $189.2 million in revenue vs. the expected $182.5 million and an EPS of $0.64 vs. the expected $0.21.
Expanding High-Value Customer Base: 57% Growth in 50K+ ARR Segment
A notable aspect of monday.com’s third-quarter success is the substantial growth in its high-value customer segment. The number of customers contributing more than $50,000 in annual recurring revenue (ARR) surged by 57% year over year. This surge shows the company’s effectiveness in attracting and retaining large-scale clients. The co-CEOs emphasized the importance of monday DB, their new infrastructure underpinning the WorkOS platform, in attracting and maintaining these high-value relationships. The rollout of monday DB, which is ahead of schedule, is already receiving positive feedback for its significant speed improvements and enhanced capabilities.
Technical Analysist
Price Momentum
MNDY is trading in the middle of its 52-week range and near its 200-day simple moving average.
What does this mean?
Investors are still evaluating the share price, and the stock is still trying to generate some momentum. This is a positive sign for the stock's future value.
a. The third quarter revenue was $189.2 million, a 38% year-over-year growth.
b. A 57% increase year-over-year in customers contributing more than 50k in annual recurring revenue (ARR).
c. A record quarterly non-GAAP operating margin and free cash flow.
d. The firm beat estimates with $189.2 million in revenue vs. the expected $182.5 million and an EPS of $0.64 vs. the expected $0.21.
Expanding High-Value Customer Base: 57% Growth in 50K+ ARR Segment
A notable aspect of monday.com’s third-quarter success is the substantial growth in its high-value customer segment. The number of customers contributing more than $50,000 in annual recurring revenue (ARR) surged by 57% year over year. This surge shows the company’s effectiveness in attracting and retaining large-scale clients. The co-CEOs emphasized the importance of monday DB, their new infrastructure underpinning the WorkOS platform, in attracting and maintaining these high-value relationships. The rollout of monday DB, which is ahead of schedule, is already receiving positive feedback for its significant speed improvements and enhanced capabilities.
Technical Analysist
Price Momentum
MNDY is trading in the middle of its 52-week range and near its 200-day simple moving average.
What does this mean?
Investors are still evaluating the share price, and the stock is still trying to generate some momentum. This is a positive sign for the stock's future value.
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