Why Monday.Com Stock Is Plunging Today

By Benzinga
Benzinga
Benzinga
February 23, 2022 Updated: February 23, 2022

Monday.Com Ltd. reported fourth-quarter FY21 revenue growth of 91 percent year-on-year to $95.5 million, beating the consensus of $87.8 million.

The net dollar retention rate was over 120 percent. The net dollar retention rate for customers with over ten users was over 135 percent.

The total number of paid customers was 152,048, up 34 percent from 113,888 as of December 31, 2020.

The number of paid customers with over $50,000 in annual recurring revenue was 793, up 200 percent from 264 as of December 31, 2020.

The percentage of ARR attributable to customers with over ten users was 72 percent, up from 63 percent in Q4 of FY20.

The non-GAAP operating margin loss was (10) percent compared to (47) percent in Q4 of FY20.

Non-GAAP EPS loss of $(0.26) beat the consensus loss of $(0.52).

Monday.Com generated $13.5 million in operating cash flow and held $886.8 million in cash and equivalents.

Outlook

Monday.Com sees Q1 FY22 revenue of $100 million – $102 million, above the consensus of $94.1 million. It sees Q1 Non-GAAP operating loss of $(47) million – $(45) million.

Monday.Com sees FY22 revenue of $470 million – $475 million, above the consensus of $443.1 million.

The company expects FY22 Non-GAAP operating loss of $(147) million – $(142) million and a negative operating margin of (31) percent – (30) percent. For FY21, the company reported a Non-GAAP operating loss of $(52.6) million with a (17) percent margin.

By Anusuya Lahiri

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