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monday.com (MNDY) second-quarter 2024 results benefit from strength in customer demand for the company's offerings, including the largest deal in its history.
monday.com defies market pessimism with impressive Q2 results, including 34% y/y revenue growth and stable net retention rates. The company also dramatically boosted its operating margins, giving it an impressive "Rule of 40" score of 50. I'm upgrading monday.com to a neutral rating, but continue to encourage caution here amid expensive valuation multiples.
Strong Growth: Monday.com reported robust growth, with Q2 revenue reaching $236.1 million, up 34% year-over-year.
Monday topped estimates and raised its guidance. The company posted its first quarter of GAAP profitability.
Shares of monday.com popped after the workplace software company topped analysts' expectations with its second-quarter results and raised its full-year guidance.
monday.com Ltd. (NASDAQ:MNDY ) Q2 2024 Earnings Conference Call August 12, 2024 8:30 AM ET Company Participants Byron Stephen - Vice President, Investor Relations Roy Mann - Co-Chief Executive Officer Eran Zinman - Co-Chief Executive Officer Eliran Glazer - Chief Financial Officer Conference Call Participants Brent Bracelin - Piper Sandler Jackson Ader - KeyBanc Capital Markets Alex Zukin - Wolfe Research Arjun Bhatia - William Blair Ryan MacWilliams - Barclays Derrick Wood - TD Cowen Pinjalim Bora - JPMorgan Michael Berg - Wells Fargo Michael Funk - Bank of America DJ Hynes - Canaccord Genuity Steve Enders - Citibank Scott Berg - Needham & Company Taylor McGinnis - UBS Rob Oliver - Baird Operator Thank you for standing by.
Q2 2024 revenue was $236.1 million, growing 34% year-over-year and surpassing management's expectations. Non-GAAP operating income was $38.4 million, more than double the upper end of guidance.
Monday.com NASDAQ: MNDY had another beat-and-raise quarter because the combination of its offering and operational quality delivered results. The company delivers results for its clients and investors and has its stock on track to hit a multi-year high soon.
Monday.com (MNDY) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.54 per share. This compares to earnings of $0.41 per share a year ago.
Monday.com (MNDY) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.