MNDY - Monday.com dips as Q1 results top expectations but guidance indicates slowing growth

Monday.com (NASDAQ:MNDY) shares dipped early Monday after the software-as-a-service company posted strong first-quarter results, but issued guidance that indicated slowing growth. For the period ending March 31, the Tel Aviv, Israel-based company said it lost an adjusted 96 cents per share on $108.5 million in sales, up 84% year-over-year. Analysts were expecting the company to lose an adjusted $1.01 per share on $101.3 million. However, monday.com (MNDY) said it expected second-quarter revenue to be between $117 million and $119 million, representing growth of 66% and 69% year-over-year. Analysts were expecting sales to be roughly $110.88 million. For the full-year, monday.com (MNDY) said it expects sales to be between $488 million and $492 million, compared to estimates of $474.91 million, but that would represent growth of 58% to 60% year-over-year. Monday.com (MNDY) shares fell nearly 1.5% to $108.98 in premarket trading on Monday. The work management company also said it expects an adjusted

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Monday.com dips as Q1 results top expectations, but guidance indicates slowing growth