Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

monday.com rallies after topping earnings, revenue estimates

Published 11/14/2022, 10:04 AM
Updated 11/14/2022, 10:15 AM
© Netanel Tobias, monday.com PR monday.com (MNDY) Rallies after Topping Earnings, Revenue Estimates
MNDY
-

By Sam Boughedda

monday.com Ltd. (NASDAQ:MNDY) shares jumped Monday after the company reported third-quarter earnings, topping analyst estimates for profit and revenue.

The company's stock is currently up 8.2% at around the $103 mark after opening the session at around $114.54 per share.

monday.com posted earnings of $0.05 per share, $0.59 above the analyst consensus estimate of a loss per share of $0.54. Revenue for the quarter came in at $136.9 million versus the consensus estimate of $130.36M.

In addition, the company revealed that the number of customers with more than $50k ARR grew 116% year over year.

"We made strong progress against our financial and operating plans, which drove improving margins and positive adjusted free cash flow in the third quarter," said Eliran Glazer, monday.com CFO.

Glazer added that while uncertainties in the macroeconomic environment remain, the company's results give it the confidence to increase its outlook for the balance of the year.

monday sees fourth-quarter revenue coming in between $140M  and 142M, versus the consensus of $138.6M, while full-year 2022 revenue is expected to be between $509M and $511M, with FX expected to negatively impact its full-year revenue growth estimates by approximately 300 basis points.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.