Monday.com Ltd. (MNDY) shares skyrocketed 29.21% in pre-market trading on Monday, February 10, 2025, after the work management platform reported outstanding fourth-quarter and fiscal year 2024 results that topped Wall Street estimates. The company also unveiled its AI vision to drive further growth.
For the fourth quarter of 2024, Monday.com posted revenue of $268 million, surging 32% year-over-year and exceeding consensus estimates of $261.4 million. The company reported non-GAAP earnings of $1.08 per share, a staggering 36.8% beat over analysts' expectations of $0.79. Non-GAAP operating income reached $40.3 million, representing a healthy 15% operating margin.
The strong quarterly performance capped off a stellar fiscal year 2024 for Monday.com. Full-year revenue climbed 33% to $972 million, while non-GAAP operating income hit $132.4 million, reflecting a 14% operating margin. The company also generated robust free cash flow of $295.8 million, or a 30% free cash flow margin.
Monday.com's impressive results were driven by rapid product innovation, including the recent launch of its monday service enterprise service management platform. The company also benefited from strong demand across customers of all sizes, reflecting the platform's increasing popularity and adoption.
Looking ahead to 2025, Monday.com expects revenue in the range of $1.21 billion to $1.22 billion, outpacing analysts' estimates and implying growth of 24% to 26% year-over-year. The company also anticipates continued profitability, forecasting non-GAAP operating income between $134 million and $142 million, or an operating margin of 11% to 12%.
In addition to its strong financial performance, Monday.com unveiled its AI vision, which encompasses AI Blocks to embed AI capabilities across its products, AI-powered Product Power-ups, and a new Digital Workforce of AI agents designed to handle tasks autonomously. This strategic focus on AI positions the company to capitalize on the growing demand for intelligent and automated work management solutions.
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