09:52 AM EDT, 05/12/2025 (MT Newswires) -- Monday.com ( MNDY ) raised its full-year guidance on Monday after the project management software company reported first-quarter results that surpassed Wall Street estimates.

The company now anticipates annual revenue growth of 25% to 26% to between $1.220 billion and $1.226 billion for 2025, compared with its prior outlook of $1.208 billion to $1.221 billion. The consensus on FactSet is for full-year revenue to increase to $1.21 billion from the previous year's $972 million.

Monday.com's ( MNDY ) non-GAAP operating income is expected at $144 million to $150 million, up from the prior forecast of $134 million to $142 million.

"Our strong financial performance and disciplined execution position us well to navigate uncertainties ahead," Chief Financial Officer Eliran Glazer said in a statement. "As we continue to invest in innovation, including the launch of new enterprise work management capabilities and (artificial intelligence)-powered features, we are confident in our ability to execute our strategy and capitalize on the significant growth opportunities before us."

For the first quarter ended March 31, non-GAAP per-share earnings rose to $1.10 from $0.61 a year earlier, exceeding the $0.70 consensus estimate. Revenue jumped 30% year on year to $282.3 million, above analysts' view of $275.8 million.

The number of paid customers with more than $50,000 in annual recurring revenue surged 38% year on year to 3,444, the company said. The overall net dollar retention rate was 112%.

For the ongoing quarter, Monday.com ( MNDY ) is projecting revenue to increase 24% to 25% year on year to between $292 million and $294 million. Analysts are looking for $294 million. Non-GAAP operating income is pegged at $32 million to $34 million.