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undefined (MNCY) delivers enterprise software solutions that power modern workplace collaboration and process automation. This news hub provides investors and professionals with essential updates about the company's strategic initiatives, product enhancements, and market positioning.
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monday.com (NASDAQ: MNDY) announced its financial results for Q1 2024, highlighting a substantial revenue increase of 34% year-over-year, reaching $216.9 million. The company also achieved record quarterly free cash flow of $89.9 million. Notably, the number of customers with more than $50k in annual recurring revenue (ARR) grew by 48% year-over-year. Non-GAAP operating income was $21.5 million, with a non-GAAP operating margin of 10%. GAAP net income per share was $0.14, compared to a loss of $0.31 in Q1 2023. The company projects Q2 revenue between $226 million and $230 million and full-year 2024 revenue between $942 million and $948 million, reflecting growth of 29% to 30%. monday sales CRM and monday dev are now accessible to all customers, fueling further account additions. The management expressed confidence in delivering the 'base case' guidance outlined for 2023.
