11:37 AM EST, 11/11/2024 (MT Newswires) -- Monday.com's ( MNDY ) shares fell 16.3% in recent Monday trading after the company posted its Q3 results.

The project management software firm reported Q3 non-GAAP net income of $0.85 per diluted share, up from $0.64 a year earlier. Analysts polled by Capital IQ expected $0.63.

Revenue for the quarter ended Sept. 30 was $251 million, up from $189.2 million a year earlier. Analysts surveyed by Capital IQ expected $246.3 million.

The company said it expects Q4 revenue of $260 million to $262 million. Analysts polled by Capital IQ expect $261 million.

For the full year 2024, Monday.com ( MNDY ) said it now expects total revenue to be between $964 million and $966 million, up from its prior outlook of $956 million to $961 million. Analysts surveyed by Capital IQ expect $960.3 million.

Price: 271.50, Change: -52.81, Percent Change: -16.28