Monday.com (NASDAQ:MNDY) stock gained on Monday after the work-management software company topped quarterly earnings expectations and offered an optimistic outlook.
The company reported a quarterly revenue growth of 24% year-on-year (Y/Y) to $351.27 million, beating the analyst consensus estimate of $339.23 million.
The company’s adjusted quarterly EPS of $1.15 beat the analyst consensus estimate of 93 cents.
Monday.com makes money by selling subscriptions that give customers access to its cloud-based Work OS platform.
The net dollar retention rate was 110% and 114% for customers with more than 10 users.
The number of paid customers with over $50,000 in annual recurring revenue (ARR) rose 32% Y/Y to 4,547.
The adjusted operating margin remained firm at 14% Y/Y despite an approximately 190-basis-point negative foreign-exchange impact.
In the quarter, Monday.com generated operating cash flow of $104.69 million, down from $111.97 million …