Monday.com Ltd ( MNDY ) reported fiscal fourth-quarter 2024 revenue growth of 32% year-on-year to $267.98 million, beating the analyst consensus estimate of $261.37 million. 

The project management software company’s adjusted EPS of $1.08 beat the analyst consensus estimate of $0.79. The stock price climbed after the results.

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The net dollar retention rate was 112% and 115% for customers with more than ten users.

The number of paid customers with over $50,000 in annual recurring revenue (ARR) rose 39% year over year to 3,201. The adjusted operating margin increased 500 bps to 15%.

In the quarter, Monday.com ( MNDY ) generated:

Operating cash flow of $76.7 million

$72.7 million of free cash flow, compared to $58.5 million and $55.4 million, respectively, a year ago.

$1.46 billion in cash and equivalents as of Dec. 31, 2024.

Roy Mann and Eran Zinman, co-founders and co-CEOs, flagged the expansion of its product suite with Monday service, which is already seeing rapid adoption from both existing and new customers.

They also highlighted that the company doubled down on its AI efforts, focusing on AI Blocks, Product Power-ups, and a new Digital Workforce of AI Agents for 2025. They expect AI to be a game-changer for their customers, giving them the ability to transform their workflows and scale faster than ever before.

Outlook: Monday.com ( MNDY ) expects fiscal first-quarter 2025 revenue of $274 million—$274.32 million (versus the consensus of $246.1 million) and an adjusted operating margin of 9%–10%.

Monday.com ( MNDY ) expects 2025 revenue of $1.208 billion—$1.221 billion, against the consensus of $1.210 billion, and an adjusted operating margin of 11%–12%.

Monday.com ( MNDY ) stock surged over 57% in the last 12 months. At least four Wall Street firms reduced their price target on the stock in 2025. However, Citigroup upgraded its rating from Neutral to Buy, and Cantor Fitzgerald initiated coverage on the stock with an Overweight.

Price Action: Monday.com ( MNDY ) stock is up 30.4% at $334.76 at the last check Monday.

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