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<h3 id="monday-com-earnings-key-highlights">monday.com Earnings Key Highlights:</h3>
<ul>
 <li>The third quarter revenue was $189.2 million, a 38% year-over-year growth.</li>
 <li>A 57% increase year-over-year in customers contributing more than $50k in annual recurring revenue (ARR).</li>
 <li>A record quarterly non-GAAP operating margin and free cash flow.</li>
 <li>The firm beat estimates with $189.2 million in revenue vs. the expected $182.5 million and an EPS of $0.64 vs. the expected $0.21.</li>
</ul>
<h3 id="robust-revenue-rise-monday-com-s-38-yoy-growth-in-q3">Robust Revenue Rise: monday.com’s 38% YoY Growth in Q3</h3>
<p>Monday.com (NASDAQ: MNDY) announced its financial results for the third quarter ended September 30, 2023. The company reported a significant revenue increase to $189.2 million, marking a 38% rise compared to last year. This growth is attributed to the company’s expanding customer base and enhanced product offerings. monday.com’s co-founders and co-CEOs, Roy Mann and Eran Zinman, highlighted the continued momentum from the company’s multi-product strategy and robust customer demand as key drivers behind this remarkable growth.</p>
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<h3 id="expanding-high-value-customer-base-57-growth-in-50k-arr-segment">Expanding High-Value Customer Base: 57% Growth in $50K+ ARR Segment</h3>
<p>A notable aspect of monday.com’s third-quarter success is the substantial growth in its high-value customer segment. The number of customers contributing more than $50,000 in annual recurring revenue (ARR) surged by 57% year over year. This surge shows the company’s effectiveness in attracting and retaining large-scale clients. The co-CEOs emphasized the importance of mondayDB, their new infrastructure underpinning the WorkOS platform, in attracting and maintaining these high-value relationships. The rollout of mondayDB, which is ahead of schedule, is already receiving positive feedback for its significant speed improvements and enhanced capabilities.</p>
<h3 id="achieving-financial-efficiency-record-non-gaap-operating-margin-and-cash-flow">Achieving Financial Efficiency: Record Non-GAAP Operating Margin and Cash Flow”</h3>
<p>In addition to revenue growth and customer base expansion, monday.com has achieved a record quarterly non-GAAP operating margin and free cash flow. This financial efficiency reflects the company’s strong operational performance and prudent financial management. The co-CEOs pointed out that these results demonstrate the company’s ability to balance growth with profitability, a key factor for sustained success in the competitive tech landscape.</p>
<p>In conclusion, monday.com’s third-quarter results for 2023 paint a picture of a company on the rise, characterized by robust revenue growth, an expanding high-value customer base, and impressive financial efficiency.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/earnings-review-monday-com-reports-38-yoy-growth-in-revenue/">Earnings Review: monday.com Reports 38% YoY Growth in Revenue</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

Earnings Review: monday.com Reports 38% YoY Growth in Revenue

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