Monday.com Ltd (NASDAQ:MNDY) shares are trading higher Monday after the company reported better-than-expected financial results and issued strong guidance.
What Happened: Monday.com said fourth-quarter revenue increased 57% year-over-year to $149.9 million, which beat average analyst estimates of $141.23 million. The company reported quarterly adjusted earnings of 44 cents per share, which beat estimates for a loss of 37 cents per share.
Net cash from operations totaled $34.1 million and adjusted free cash flow was $29.7 million in the fourth quarter.
"Q4 capped off an amazing year, exceeding our expectations on both the top and bottom lines. We finished FY'22 with strong revenue growth, improving efficiency, and positive free cash flow for the second consecutive year. Despite macro uncertainties, we believe we are well positioned for the road ahead," said Roy Mann, founder and co-CEO of Monday.com.
Monday.com sees first-quarter revenue in a range of $154 million to $156 million. The company expects full-year 2023 revenue to be between $688 million and $693 million.
Monday.com also announced a new partnership with Appfire, an enterprise collaboration app provider, to expand the Monday.com app marketplace.
Monday.com offers a work operating system where organizations can create the tools and processes they need to manage every aspect of their work.
MNDY Price Action: Monday.com has a 52-week high of $237.02 and a 52-week low of $73.58.
The stock was up 12.1% at $147 at the time of writing, according to Benzinga Pro.
Photo: courtesy of Monday.com.
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