Monday.com reported first quarter results that exceeded analyst expectations across earnings, revenue and guidance, sending shares up over 24% following the announcement.

The AI work platform reported adjusted earnings per share of $1.15, beating the analyst consensus of $0.95 by $0.20. Revenue reached $351.3 million, surpassing the estimate of $339.31 million and representing 24% growth YoY from the prior year period. The company also delivered record adjusted and GAAP operating income for the quarter.

The stock surge reflected investor enthusiasm over the company's performance and outlook. For the second quarter, Monday.com issued revenue guidance of $354 million to $356 million, with a midpoint of $355 million slightly above the analyst consensus of $354.2 million. For full year 2026, the company expects revenue of $1.466 billion to $1.474 billion, with a midpoint of $1.470 billion exceeding the consensus estimate of $1.458 billion.

"The results we delivered in Q1 reflect a business that is executing with discipline and building with ambition at the same time," said co-founders and co-CEOs Roy Mann and Eran Zinman. "The launch of the AI Work Platform and our shift to consumption-based pricing build directly on that momentum."

The company reported adjusted operating income of $49.0 million, up from $40.8 million in the first quarter of 2025, with a 14% adjusted operating margin. GAAP operating income reached $19.8 million compared to $9.8 million in the year-ago period.

Monday.com demonstrated strong customer growth, particularly in its enterprise segment. The number of customers with more than $500,000 in ARR reached 99, up 74% from 57 a year earlier. Customers with more than $100,000 in ARR grew 39% to 1,844, while those with more than $50,000 in ARR increased 32% to 4,547.

The company's net dollar retention rate stood at 110%, with higher retention rates among larger customers reaching 116% for those with more than $50,000 in ARR.