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monday.com Ltd. (NASDAQ: MNDY) is a leading provider of cloud-based work management software designed to improve efficiency, transparency, and collaboration within teams. Founded in 2012 and launched as an independent entity in 2014, the company has transformed the way businesses operate by offering flexible and highly customizable solutions that cater to a variety of business processes and use cases.
The core service of monday.com is its work operating system (Work OS), which facilitates workflow management across departments, real-time visibility, and accountability, and incorporates automation tools to streamline operations. The platform supports various business functions such as project management, CRM, DevOps, and marketing, providing a centralized hub for teams to collaborate and manage their tasks.
monday.com has also developed specialized tools like prepackaged CRM solutions, DevOps management platforms, standalone survey modules, and digital whiteboard tools. This diversity in offerings allows organizations to tailor the software precisely to their needs, enhancing productivity and effectiveness.
As of 2023, monday.com has a global presence, serving over 225,000 customers in more than 200 countries. The firm is praised for its user-friendly interface, robust functionality, and the ability to integrate seamlessly with other business tools. Recent achievements include strategic partnerships to expand their ecosystem and continuous updates to enhance product features and user experience.
Financially, monday.com has shown significant growth, driven by its subscription-based revenue model. The company reinvests heavily in research and development to maintain its competitive edge and deliver innovative solutions. This approach has led to a loyal customer base and positive feedback for its 24/7 customer support service.
Overall, monday.com is not just a software provider but a catalyst for creating a culture of transparency and empowerment within organizations, enabling teams to achieve more and be happier in their work environment.
monday.com (NASDAQ: MNDY) has opened its new Asia-Pacific headquarters in Sydney, aiming to leverage growth in the region as it surpasses 13,000 customers in Australia. The new office, located in the CBD, spans over 1,000 square metres and reflects the company's commitment to the local market. This expansion follows a 76% increase in headcount in Australia over the past year. The office design embodies the company's core values, fostering collaboration and inclusivity. monday.com aims to strengthen connections with customers and partners like Canva and Tourism Australia.
monday.com (NASDAQ: MNDY) has announced participation in several investor conferences, showcasing its work operating system capabilities. The conferences include:
- Morgan Stanley Technology, Media & Telecom Conference on March 6, 2023, at 11:00 am ET, San Francisco, CA.
- KeyBanc Capital Markets Emerging Technology Summit on March 7, 2023, at 2:00 pm ET, San Francisco, CA.
- Loop Capital Annual Investor Conference on March 13, 2023, virtually (1x1 meetings only).
These presentations will feature discussions with research analysts and will be available for live streaming on monday.com’s investor relations website.
Appfire has partnered with monday.com (NASDAQ: MNDY) to enhance its app marketplace. This collaboration aims to enable monday.com users to better customize their workflow through new apps that cater to diverse business needs. Since launching its marketplace in 2022, monday.com has attracted over 1.5 million visitors and 380,000 app installs. Appfire will contribute apps like Planning Poker and Dashboard Hub to optimize user experiences, supporting both project management and data visualization. The partnership emphasizes innovation, enhancing collaboration tools for teams across various sectors.
monday.com (NASDAQ: MNDY) reported a fiscal year 2022 revenue of $519.0 million, growing 68% year-over-year. The company achieved a positive adjusted free cash flow for the second consecutive year, with significant growth in customers—86% increase in those generating over $50k ARR. In Q4 alone, revenue reached $149.9 million (57% year-over-year growth). However, the GAAP net loss for the fiscal year was $2.99 per share. Looking ahead, monday.com anticipates 2023 revenue between $688 million and $693 million, reflecting a 33% to 34% growth expectation.
monday.com Ltd. (NASDAQ: MNDY) has announced it will report its financial results for the fourth quarter and fiscal year 2022 on
monday.com (NASDAQ: MNDY) has officially opened a new North American office in Denver, spanning over 10,000 square feet, to enhance its sales capabilities. This addition supports the company's expansion efforts, following previous openings in New York City, Miami, and Chicago. The Denver office aims to foster a hybrid work environment and accommodate 45 employees with room for growth. Executives emphasize the value of in-person collaboration and closeness to customers as key drivers for success in 2023.
monday.com has promoted Yoni Osherov to Chief Revenue Officer (CRO), the first to hold this title, to enhance customer experience and drive growth. He will lead over half of the global team, focusing on areas such as sales, marketing, and customer success. Osherov, who joined the company in 2017, has been integral in scaling the sales team significantly. This role aims to foster efficiency and collaboration across departments, ensuring a seamless customer journey as the company continues its upward trajectory.
monday.com (NASDAQ: MNDY) has announced the appointment of Tsafrir Ezra as its new Chief Information Officer, aimed at enhancing data management. Their latest report, based on a survey of IT decision-makers in the U.S., U.K., and Australia, shows a significant increase in software budgets for 2023, with 67% of U.S. leaders planning boosts. The report highlights a trend toward software consolidation for efficiency, with ease of use being a top priority. The ongoing global digital transformation indicates promising growth in the software sector.
monday.com (NASDAQ: MNDY) released a report indicating that UK IT teams are prioritizing software that enhances efficiency, with 54% increasing their software budget in 2022 and 55% planning further increases in 2023. The survey conducted with RepData LLC shows that UK decision-makers express dissatisfaction with existing software, often relying on multiple tools. Moreover, 87% plan to consolidate software platforms for improved workflows. The company also announced the hiring of Tsfarir Ezra as the new Chief Information Officer to lead data management efforts.
monday.com (NASDAQ: MNDY) reported third quarter revenue of $136.9 million, marking a significant 65% growth year-over-year. The number of customers with over $50k in annual recurring revenue (ARR) surged by 116%, reaching 1,323. The company saw improved margins and positive adjusted free cash flow of $14 million. Despite macroeconomic challenges, management raised its revenue outlook for the full year to between $509 million and $511 million. However, foreign exchange impacts may reduce growth estimates by 300 basis points.
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