NEW YORK – monday.com Ltd. (NASDAQ:MNDY (NASDAQ:)) reported second-quarter results that exceeded analyst expectations and raised its full-year outlook, sending shares soaring 5.4% in premarket trading.
The work management software company posted adjusted earnings per share of $0.94, significantly beating the consensus estimate of $0.56. Revenue grew 34% year-over-year to $236.1 million, surpassing analyst projections of $229.04 million.
monday.com achieved GAAP operating profitability for the first time, with operating income of $1.8 million compared to a loss of $12.2 million in the year-ago quarter. Non-GAAP operating income nearly doubled to $38.4 million.
“Q2 marks three years since our debut on the Nasdaq, and we’re more excited than ever about the opportunities we see ahead,” said co-CEOs Roy Mann and Eran Zinman in a statement. They highlighted the company’s ability to “more than triple our largest seat count as we continue to focus on expanding upmarket.”
Looking ahead, monday.com raised its full-year 2024 revenue guidance to a range of $956-961 million, above the consensus of $947.9 million. For the third quarter, the company expects revenue between $243-247 million, also ahead of analyst estimates.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.