MNDY

MKT CAP:$3B

monday.com Ltd.

Market Cap

$3B

Technology·Software - Application·🇮🇱 Israel·NASDAQ

Technology·Software App·🇮🇱·NASDAQ

Stock Price

$64.99-$78.43 (-54.69%)

Apr 17, 2026

Company Details

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It provides Work OS, a cloud-based visual work operating system that consists of mod...

CEO

Eran Zinman

IPO Date

Jun 10, 2021

Website

www.monday.com

Key Metrics TTM

Revenue

$1.2B

+26.7% YoY

Net Income

$119M

EPS (Diluted)

$2.25

Free Cash Flow

$321M

Revenue / Share

$23.28

Gross Margin

89.2%

Operating Margin

-0.1%

Net Margin

9.6%

FCF Margin

26.0%

P/S

2.8x

P/E

29.3x

Earnings Reports

Q1 2026

May 11, 2026

PENDING

FY 2025

Mar 13, 2026

$1.2B+26.7%EPS $2.24

Q4 2025

Mar 13, 2026

$334M+24.6%EPS $1.45

Q3 2025

Nov 10, 2025

$317M+26.2%EPS $0.25

Q2 2025

Aug 11, 2025

$299M+26.6%EPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$108M	$94M	-$67M
Q2 22	$124M	$107M	-$46M
Q3 22	$137M	$119M	-$28M
Q4 22	$150M	$133M	-$10M
Q1 23	$162M	$145M	-$23M
Q2 23	$176M	$156M	-$12M
Q3 23	$189M	$167M	-$3M
Q4 23	$203M	$180M	-$1M
Q1 24	$217M	$193M	-$5M
Q2 24	$236M	$212M	$2M
Q3 24	$251M	$225M	-$27M
Q4 24	$268M	$237M	$10M
Q1 25	$282M	$253M	$10M
Q2 25	$299M	$268M	-$12M
Q3 25	$317M	$281M	-$2M
Q4 25	$334M	$297M	$2M

Valuation

Quarter	P/S	P/E
Q1 22	9.7x	—
Q2 22	8.5x	—
Q3 22	7.5x	—
Q4 22	6.7x	—
Q1 23	6.1x	—
Q2 23	5.6x	—
Q3 23	5.1x	—
Q4 23	4.8x	—
Q1 24	4.4x	174.8x
Q2 24	4.1x	84.3x
Q3 24	3.8x	160.1x
Q4 24	3.6x	107.3x
Q1 25	3.3x	65.9x
Q2 25	3.2x	86.9x
Q3 25	3.0x	53.4x
Q4 25	2.8x	29.3x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$13M	-$15M
Q2 22	-$14M	-$19M
Q3 22	$20M	$14M
Q4 22	$34M	$30M
Q1 23	$43M	$39M
Q2 23	$48M	$46M
Q3 23	$67M	$65M
Q4 23	$59M	$56M
Q1 24	$92M	$90M
Q2 24	$56M	$51M
Q3 24	$87M	$82M
Q4 24	$77M	$73M
Q1 25	$112M	$108M
Q2 25	$67M	$60M
Q3 25	$95M	$90M
Q4 25	$67M	$63M

Capital Expenditures

Quarter	CapEx
Q1 22	$2M
Q2 22	$5M
Q3 22	$6M
Q4 22	$4M
Q1 23	$4M
Q2 23	$2M
Q3 23	$2M
Q4 23	$2M
Q1 24	$2M
Q2 24	$5M
Q3 24	$4M
Q4 24	$4M
Q1 25	$4M
Q2 25	$7M
Q3 25	$5M
Q4 25	$5M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	+84.0%	+81.8%
Q2 22	+75.2%	+73.2%
Q3 22	+64.9%	+47.1%
Q4 22	+56.9%	+25.9%
Q1 23	+49.5%	+5.1%
Q2 23	+42.0%	+10.6%
Q3 23	+38.2%	+16.1%
Q4 23	+35.1%	+27.3%
Q1 24	+33.7%	+20.0%
Q2 24	+34.4%	+24.7%
Q3 24	+32.7%	+45.2%
Q4 24	+32.3%	+26.8%
Q1 25	+30.1%	+22.8%
Q2 25	+26.6%	+32.5%
Q3 25	+26.2%	+14.7%
Q4 25	+24.6%	+28.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$24M	21.8%
Q2 22	$31M	24.9%
Q3 22	$26M	19.0%
Q4 22	$24M	16.3%
Q1 23	$22M	13.8%
Q2 23	$29M	16.4%
Q3 23	$27M	14.1%
Q4 23	$22M	11.0%
Q1 24	$27M	12.2%
Q2 24	$37M	15.5%
Q3 24	$35M	14.1%
Q4 24	$31M	11.4%
Q1 25	$31M	11.0%
Q2 25	$57M	18.9%
Q3 25	$50M	15.7%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q1 22	$27M	$19M	$116M	—
Q2 22	$34M	$22M	$97M	—
Q3 22	$34M	$22M	$91M	—
Q4 22	$33M	$22M	$88M	—
Q1 23	$37M	$23M	$108M	—
Q2 23	$39M	$22M	$107M	—
Q3 23	$38M	$23M	$108M	—
Q4 23	$42M	$24M	$115M	—
Q1 24	$44M	$26M	$128M	—
Q2 24	$50M	$29M	$131M	—
Q3 24	$57M	$56M	$140M	—
Q4 24	$62M	$32M	$134M	—
Q1 25	$69M	$33M	$142M	—
Q2 25	$87M	$40M	$153M	—
Q3 25	$79M	$38M	$166M	—
Q4 25	$85M	—	—	$209M

Rule of 40

Quarter	Rev Growth %	EBITDA Margin %	Rule of 40
Q1 22	84.0%	-59.3%	24.6
Q2 22	75.2%	-34.2%	41.0
Q3 22	64.9%	-13.4%	51.4
Q4 22	56.9%	2.8%	59.7
Q1 23	49.5%	-6.7%	42.8
Q2 23	42.0%	-1.4%	40.6
Q3 23	38.2%	6.0%	44.2
Q4 23	35.1%	7.0%	42.2
Q1 24	33.7%	4.8%	38.5
Q2 24	34.4%	8.3%	42.7
Q3 24	32.7%	-3.7%	29.0
Q4 24	32.3%	12.0%	44.3
Q1 25	30.1%	10.9%	41.0
Q2 25	26.6%	2.0%	28.6
Q3 25	26.2%	5.3%	31.6
Q4 25	24.6%	5.9%	30.5

Rule of 40

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$850M	$0	$850M
Q2 22	$835M	$0	$835M
Q3 22	$853M	$0	$853M
Q4 22	$886M	$0	$886M
Q1 23	$936M	$0	$936M
Q2 23	$989M	$0	$989M
Q3 23	$1.1B	$0	$1.1B
Q4 23	$1.1B	$0	$1.1B
Q1 24	$1.2B	$0	$1.2B
Q2 24	$1.3B	$0	$1.3B
Q3 24	$1.3B	$51M	$1.4B
Q4 24	$1.4B	$50M	$1.5B
Q1 25	$1.5B	$61M	$1.6B
Q2 25	$1.6B	$60M	$1.7B
Q3 25	$1.5B	$212M	$1.7B
Q4 25	$1.5B	$162M	$1.7B

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	45M	+0.5%	+2.9%
Q2 22	45M	+0.2%	+2.5%
Q3 22	45M	+0.9%	+2.7%
Q4 22	48M	+4.8%	+6.5%
Q1 23	48M	+0.5%	+6.5%
Q2 23	48M	+0.6%	+7.0%
Q3 23	51M	+6.7%	+13.2%
Q4 23	52M	+0.3%	+8.3%
Q1 24	52M	+0.8%	+8.6%
Q2 24	52M	+0.4%	+8.3%
Q3 24	50M	-4.0%	-2.6%
Q4 24	52M	+4.6%	+1.6%
Q1 25	53M	+1.2%	+2.0%
Q2 25	53M	+0.4%	+2.0%
Q3 25	53M	-0.0%	+6.2%
Q4 25	53M	-0.6%	+1.0%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$467.7K	232
Q2 22	$533.3K	232
Q3 22	$590.1K	232
Q4 22	$479.0K	313
Q1 23	$518.4K	313
Q2 23	$561.3K	313
Q3 23	$604.4K	313
Q4 23	$495.3K	409
Q1 24	$530.3K	409
Q2 24	$577.3K	409
Q3 24	$613.7K	409
Q4 24	$426.0K	629
Q1 25	$448.7K	629
Q2 25	$475.4K	629
Q3 25	$503.7K	629
Q4 25	$381.6K	875

Revenue / Employee