On May 15, 2024, monday.com Ltd., a leading work operating system platform, announced its financial results for the first quarter of 2024. The company reported a significant revenue increase to $216.9 million, which is a 34% growth compared to the previous year. The number of customers contributing more than $50k in annual recurring revenue (ARR) saw a 48% year-over-year increase. A notable achievement for the quarter was a record high in quarterly free cash flow. The company's sales CRM and development platform, monday dev, have been made accessible to all customers, contributing to the accelerated growth in accounts. The co-founders and co-CEOs, Roy Mann and Eran Zinman, expressed satisfaction with the product demand and the growth of monday sales CRM and...Show More

On May 15, 2024, monday.com Ltd., a leading work operating system platform, announced its financial results for the first quarter of 2024. The company reported a significant revenue increase to $216.9 million, which is a 34% growth compared to the previous year. The number of customers contributing more than $50k in annual recurring revenue (ARR) saw a 48% year-over-year increase. A notable achievement for the quarter was a record high in quarterly free cash flow. The company's sales CRM and development platform, monday dev, have been made accessible to all customers, contributing to the accelerated growth in accounts. The co-founders and co-CEOs, Roy Mann and Eran Zinman, expressed satisfaction with the product demand and the growth of monday sales CRM and monday dev. CFO Eliran Glazer highlighted the positive impact of recent pricing model adjustments and expressed confidence in meeting the 'base case' guidance provided during the 2023 Investor Day. The company also provided a financial outlook for Q2 and the full year of 2024, expecting continued revenue growth and profitability. Non-GAAP financial measures were used to provide additional insight into the company's performance, excluding certain expenses and income required by GAAP.