MNDY - monday.com beats Q1 top and bottom line estimates; initiates Q2 and raises FY23 outlook

May, 15 2023 07:03 AM monday.com Ltd.

2023-05-15 07:03:19 ET

monday.com press release ( NASDAQ: MNDY ): Q1 Non-GAAP EPS of $0.15 beats by $0.44 .
Revenue of $162.3M (+49.6% Y/Y) beats by $7.01M .
Non-GAAP operating margin was negative 0% compared to negative 40% in the first quarter of 2022.
Net cash provided by operating activities was $42.7 million, with $38.7 million of free cash flow, compared to net cash used in operating activities of $12.9 million and negative $16.2 million of free cash flow in the first quarter of 2022.
Outlook: For the second quarter of the fiscal year 2023, monday.com currently expects: Total revenue of $168 million to $170 million vs. consensus of $165.28M, representing year-over-year growth of 36% to 37%.
Non-GAAP operating income of $2 million to $4 million and operating margin of 1% to 2%.
For the full year 2023, monday.com currently expects: Total revenue of $702 million to $706 million vs. consensus of $236.46M, representing year-over-year growth of 35% to 36%.
Non-GAAP operating income of $8 million to $12 million and operating margin of approximately 1%.

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