Curious about Monday.com net worth and how this dynamic platform is performing financially? In 2024, Monday.com continues to thrive, demonstrating impressive revenue growth and profitability.
We’ll dive into its recent financial performance, from revenue drivers to key metrics, to give you a clear picture of this innovative company’s standing.
Stay tuned as Ando Money brings you up-to-date insights.
Quick Facts
| FACT | DETAIL |
|---|---|
| Name | Monday.com |
| Full Name | Monday.com Ltd |
| Website | Monday.com |
| Industry | Software (Work Operating System) |
| Traded as | NASDAQ: MNDY |
| ISIN | IL0011762130 |
| Founded | 2012 |
| Founders | Roy Mann, Eran Zinman |
| Country/Territory | Israel |
| Headquarters | New York, Tel Aviv |
| Chief Executive Officer | Roy Mann, Eran Zinman (Co-CEOs) |
| Number of Employees | N/A |
| Market Cap | $13.96 billion (October 2024) |
| Total Assets | $1.47 billion (June 2024) |
| Total Equity | $910.1 million (June 2024) |
| Revenue | $236.1 million (Q2 2024) |
| Net Income | $14.3 million (Q2 2024) |
What is the Net Worth/Market Cap Of Monday.com in 2024?
In October 2024, Monday.com’s market capitalization reached $13.96 billion. This places the company among the notable names in the tech industry, but how does it stack up against its peers?
While not the largest, Monday.com shows significant growth potential, particularly as it continues to expand its customer base and product offerings.
Comparatively, it stands strong among competitors and partners in its industry.
Here are a few related companies to consider:
For more details about companies with impressive valuations, check out this list of high-value businesses.
Monday.com Financial Performance Overview
Revenue Growth and Key Drivers
In Q2 2024, Monday.com reported $236.1 million in revenue, marking a 34% year-over-year increase.
This growth can be attributed to the continued success of its Work OS platform, which offers versatile, customizable tools for businesses.
The company’s expansion into higher-value accounts played a significant role in its revenue growth, as demonstrated by the addition of an 80,000-seat agreement, the largest in its history.
Additionally, Monday.com continues to see an increase in the number of paid customers, particularly those generating over $100,000 in annual recurring revenue (ARR).
Operating Income and Profitability Trends
One of the most exciting developments in Monday.com’s financial journey is achieving GAAP operating profitability for the first time in Q2 2024, with a reported operating income of $1.8 million.
This marks a significant shift from the previous year’s operating loss of $12.2 million.
Furthermore, the company’s non-GAAP operating income saw a substantial increase to $38.4 million, showcasing its ability to manage costs efficiently while growing revenue.
Expenses Breakdown Affecting Financial Performance
Monday.com’s operational efficiency can be seen in its breakdown of expenses. A significant portion of its costs is directed toward Research and Development (R&D), where it spent $50.4 million in Q2 2024.
This investment supports innovation and the development of new features on the Work OS platform.
Additionally, sales and marketing expenses accounted for $131.5 million, a reflection of Monday.com’s commitment to expanding its customer base and reaching new markets.
By controlling these costs, the company has been able to maintain a GAAP operating margin of 1% and a non-GAAP operating margin of 16%.
Cash Flow and Free Cash Flow Impact
Monday.com’s financial health is also reflected in its strong cash flow performance. In Q2 2024, the company generated $55.8 million in cash from operating activities, with free cash flow coming in at $50.8 million.
This represents a significant improvement from the previous year, underscoring its ability to generate liquidity while maintaining operational efficiency.
With such robust free cash flow, Monday.com has the resources to invest in its future growth while maintaining financial stability.
Customer Growth and Revenue Impact
Customer growth has been another major contributor to Monday.com’s financial performance.
As of June 2024, the number of paid customers with more than 10 users increased by 15% to 57,203. Moreover, the number of high-value customers generating over $100,000 in ARR grew by 49%.
This shift toward larger accounts has had a positive impact on overall revenue, highlighting the company’s focus on expanding its presence among enterprise customers.
Asset and Equity Performance
By June 2024, Monday.com’s total assets amounted to $1.47 billion, up from $1.27 billion at the end of 2023.
This growth in assets is accompanied by an increase in shareholders’ equity, which stood at $910.1 million in June 2024.
These numbers reflect the company’s solid financial foundation and its ability to leverage assets effectively to generate shareholder value.
FAQs About Monday.com
What are the key products driving Monday.com’s revenue?
Monday.com’s core product is its Work OS platform, which allows businesses to build and customize workflows for various operational needs.
How has Monday.com improved its profitability in 2024?
It achieved GAAP operating profitability for the first time in Q2 2024, due to effective cost management and strong revenue growth, especially from high-value customers.
What are Monday.com’s main expense areas?
The largest expenses for Monday.com include sales and marketing and research and development, accounting for over $180 million in Q2 2024. These investments support customer acquisition and innovation.
How has Monday.com’s customer base grown?
Its customer base has seen significant growth, particularly among high-value accounts. By June 2024, the number of customers generating over $100,000 in ARR grew by 49%.
What is Monday.com’s financial outlook for 2024?
For the full year 2024, the company expects revenue to reach between $956 million and $961 million, with non-GAAP operating income projected to be $100 million to $105 million.
Conclusion
Monday.com continues to make impressive strides in its financial performance, with strong revenue growth and increasing profitability.
If you’re interested in more company financial insights, be sure to explore additional content on Ando Money! Feel free to leave your comments or share this article with your network.
