Monday.com Stock Tanks Despite Q3 Beat, Raised Outlook

Monday.com Ltd (NASDAQ:MNDY) reported fiscal third-quarter 2024 revenue growth of 33% Y/Y to $251.0 million, beating the analyst consensus estimate of $246.1 million. 

The project management software company's adjusted EPS of $0.85 beat the analyst consensus estimate of $0.63, but the stock price plunged after the results.

Also Read: AMC Networks Q3 Earnings: Streaming Subscriber Growth Shines Amid Ad Revenue Dip Bolstered By Netflix, Amazon Partnerships

The net dollar retention rate was 111%, and it was 114% for customers with more than ten users.

The number of paid customers with over $50,000 in annual recurring revenue (ARR) rose 40% year over year to ...