02:33 PM EST, 02/10/2025 (MT Newswires) -- Shares of Monday.com ( MNDY ) soared intraday Monday after the project management software company guided for double-digit revenue growth in 2025 following stronger-than-expected fourth-quarter results.

The company projects year-over-year revenue growth of 24% to 26% to between $1.21 billion and $1.22 billion for the ongoing year. Analysts surveyed by FactSet are modeling revenue of $1.21 billion in 2025. In 2024, revenue climbed 33% to $972 million.

Monday.com's ( MNDY ) shares soared 30% in afternoon trade.

In 2025, Monday.com ( MNDY ) will be focused on building out the platform's artificial intelligence tools and making AI more accessible, Co-Chief Executive Eran Zinman told analysts on a conference call, according to a FactSet transcript. Separately on Monday, the company announced that its AI-first enterprise service management platform is now available to all customers.

"Looking ahead to 2025, we have a lot to be excited about," Zinman said. "Our momentum is stronger than ever, positioning us for continued growth and innovation."

The company expects 2025 non-GAAP operating income to range between $134 million and $142 million, compared with $132.4 million reported for 2024.

"Our 2024 results reflect our ongoing commitment to driving highly efficient growth through nearly any macroeconomic environment, with record GAAP and non-GAAP operating margins and free cash flow, and surpassing $1 billion in annual recurring revenue," Chief Financial Officer Eliran Glazer said in a statement.

In the fourth quarter, revenue jumped 32% to $268 million, surprising the FactSet consensus to the upside by 2.5%. Non-GAAP earnings per share advanced to $1.08 for the three months ended Dec. 31 from $0.65 the year earlier and surpassed the $0.79 market forecast.

Net dollar retention increased to 112% in the fourth quarter, and is expected to "remain stable throughout 2025," Glazer said on the call.

For the first quarter, the company expects revenue between $274 million and $276 million, reflecting year-over-year growth of 26% to 27%. Analysts are expecting first-quarter revenue of $274.5 million.

Price: 333.81, Change: +75.57, Percent Change: +29.26