Monday.com reported fourth-quarter earnings and revenue that topped estimates. The software maker's guidance for MNDY stock merely met expectations, sending Monday stock down.
Monday.com earnings were released before the market open on Monday. For the quarter ending Dec. 31, the maker of project management software reported a profit of 65 cents a share on an adjusted basis, up 48% from a year earlier. Revenue rose 35% to $202.6 million.
Analysts had predicted adjusted profit of 32 cents on revenue of $198 million.
MNDY Stock: Revenue Outlook Meets Views
For the current quarter ending in March, Monday.com predicted revenue of $209 million, in line with estimates. The company forecast full-year 2024 in a range of $926 million to $932 million, in-line with estimates of $928 million.
Its operating income outlook of $58 million to $64 million came in below estimates of $68 million.
On the stock market today, MNDY stock tumbled 10.5% to near 211.25. Heading into the earnings report, Monday.com stock had climbed 25% in 2024. Shares hit a two-year high last week.
MNDY stock holds a Relative Strength Rating of 96 out of a best-possible 99, according to IBD Stock Check-up.
Monday.com competes with Asana, Smartsheet, Atlassian and Microsoft, among others.
Founded in 2012, Monday.com raised $574 million in its June 2021 initial public offering, with MNDY stock priced at 155.
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