monday.com (MNDY) announces good financial results‼️

Monday.com (MNDY)
The Q2 financial results for 2024 have been announced‼️
With a strong earnings report that exceeds market expectations,
Full-year outlook also revised upwards ✨
Stock price up 10% after hours 🚀

🔸 FY24 Q2 Performance
⭕ EPS (non-GAAP): $0.94 (financial estimates comparison: +$0.38)
⭕ Revenue: $0.236 billion (financial estimates comparison: +$0.007 billion)
📈 Revenue growth rate: +34.4% year-on-year

🔸 FY24 full year guidance (revised upward)
⭕ Revenue: $0.956 billion-$0.961 billion (previously $0.942 billion-$0.948 billion)
📈 Revenue growth rate: +31-32% year-on-year

🔸 Key Performance Indicators
📈 Number of paid customers (10 users or more): 57,203 (+15% Y/Y)
📈 Number of paid customers (ARR $50,000 and above): 2,713 (+43% Y/Y)
📈 Number of paid customers (ARR $100,000 and above): 1,009 (+49% Y/Y)
📊 Revenue retention rate: 110%
📊 Revenue retention rate (10 users or more): 114%
📊 Net dollar-based retention rate (ARR $50,000 and above): 114%
📊 Net dollar-based retention rate (ARR $100,000 and above): 114%

🔸Highlights
A multinational health care company has signed its largest-ever contract for 80,000 seats.
Operating profit has turned positive under GAAP standards, with non-GAAP operating profit reaching a record high.
Acquisition and expansion of large-scale customers are progressing smoothly.
Strong demand continues even in a challenging macro environment.

🔸Management Comments
After 3 years of being listed on Nasdaq, higher expectations are held for future opportunities.
Continuing innovation while maintaining efficient growth.
Focus on expanding products and platforms for large-scale customers.
Making steady progress towards short-term and long-term financial goals.
Achieving profitability in GAAP operating profit demonstrates effective business execution.

🔸Future prospects
Further strengthening solutions for businesses.
Continuing efforts to acquire and expand large-scale customers.
Maintaining competitiveness through product innovation.
Accelerating global expansion.

🔸Company Overview
Founded in 2012, it is an Israeli saas company.
It provides a work management platform, supporting companies in improving operational efficiency.
Its strength lies in leveraging the features of low-code and no-code to enable flexible customization.
Currently, it has more than 500,000 customers in over 200 countries and regions.

🔸AI Comment
The acquisition of large customers and expansion of existing customer usage are progressing smoothly, achieving a balance of high growth and profitability.🤖
Expectations are high for accelerating deployment in the enterprise market in the future‼️