Monday.com Soars As Q2 Revenue Blows Past Estimates By Investing.com
© Netanel Tobias, monday.com PR
Investing.com – Monday .com stock (NASDAQ:) climbed 13% Wednesday after reporting a near-doubling of its quarterly revenue as it continued to widen the usage of its platform into cases such as operations, project management, finance, marketing and HR.
Monday.com provides a cloud-based work operating system that organizations can use to create tools and processes they need to manage aspects of their work.
Second-quarter revenue grew 94% year-over-year to $70.6 million. Operating loss narrowed to $9.9 million from $14.9 million in the June quarter of 2020.
The company closed the quarter with 470 paid enterprise customers having more than $50,000 in annual recurring revenue, up 226% from 144 in the second quarter of 2020.
For the full year 2021, Monday.com expects total revenue of $280 million to $282 million, representing year-over-year growth of 74% to 75%. The operating loss is seen between $93 million and $91 million.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
