MN

monday.com Ltd. Ordinary Shares Earnings Recaps

MNDY Information Technology 4 recaps
Next earnings: November 9, 2026 (estimated) · full calendar
Q2 2026 Aug 13, 2026

monday.com shares dropped 6.1% after the company signaled deceleration risks ahead, primarily through a cautious outlook that highlights modest pressure on net dollar retention (NDR) amid a challenging pricing backdrop and ongoing restructuring impacts.

Key takeaways
  • Q2 revenue rose 22% year-over-year to $365 million, supported by milestone ARR of $1.5 billion and strong AI adoption.
  • Non-GAAP operating margin improved to 17%, despite gross margin slipping to 89% from 90% last year and a 210 bps negative FX impact.
  • Research and development expenses increased to 23% of revenue, reflecting heavy reinvestment in AI and product development.
  • Sales and marketing expenses declined as a percentage of revenue to 41%, but headcount reduction of roughly 20% signals cost rationalization amid strategic shifts.
  • Management flagged potential modest pressure on NDR in second half of fiscal 2026 due to lapping previous pricing increases, indicating potential growth headwinds.
Full recap
Q1 2026 May 12, 2026

Monday.com’s shares rose 6.7% following a quarter that demonstrated notable revenue growth and efficiency gains, driven by strong enterprise adoption and early traction from AI initiatives.

Key takeaways
  • Q1 revenue grew 24% year-over-year to $351 million, supported by sustained demand and consolidation of enterprise work infrastructure.
  • Operating profit hit a record $49 million, with operating margin steady at 14%, despite a 190 basis point FX headwind mainly from Israeli shekel appreciation.
  • Net revenue retention (NDR) was 110% in Q1, though management cautioned it will slightly decline over the full fiscal year.
  • AI contributed approximately 3% of net new ARR, with internal AI-driven productivity improvements including a 32% increase in output per developer and 38% reduction in product time to market.
  • The transition to a consumption-based “seats credit” pricing model aims to align revenue with AI adoption, with enterprise customers receiving complementary AI packages to encourage scale.
Full recap
Q3 2025 Nov 10, 2025

monday.com Ltd. delivered robust Q3 FY 2025 results, achieving a record non-GAAP operating profit while significantly expanding its customer base and product offerings, positioning the company favorably for its long-term revenue targets.

Key takeaways
  • Total revenue reached $317 million, a 26% increase year-over-year, driven by strong performance in larger customer segments.
  • Recorded net additions of over 100,000 customers, exceeding 500,000 paying customers in total, highlighting the effectiveness of their go-to-market strategy.
  • Operating income reached a record $47.5 million, with an operating margin of 15%, underscoring improved operational efficiency.
  • New product revenues surpassed 10% of total ARR, ahead of their 2025 goal, reflecting successful multi-product and AI-driven strategies.
  • Gross margin maintained at 90%, with expectations to remain in the high 80s in the medium to long term.
Full recap
Q2 2025 Aug 11, 2025

monday.com delivered strong second-quarter results with a 27% revenue growth, driven by increasing demand for its platform and enhanced AI capabilities. The company also maintained robust operational efficiency, achieving a 15% non-GAAP operating margin.

Key takeaways
  • Total revenue for Q2 reached $299 million, marking a 27% year-over-year increase.
  • Non-GAAP operating margin improved to 15%, reflecting disciplined cost management.
  • monday CRM hit $100 million in annual recurring revenue, showcasing strong market traction.
  • Customer engagement with AI capabilities skyrocketed, with 46 million AI-driven actions taken since launch.
  • The company projected third-quarter revenues of $311 million to $313 million, indicating 24%-25% growth year-over-year.
Full recap

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