monday.com Expects Q4 Revenue of $196M-$198M Vs $195.16M Est, FY23 Revenue $723M-$725M Vs $715.53M Est
Portfolio Pulse from Benzinga Newsdesk
monday.com projects Q4 revenue to be between $196M-$198M, surpassing the estimate of $195.16M. For FY23, the company expects revenue of $723M-$725M, exceeding the forecast of $715.53M. The Q4 year-over-year growth is anticipated to be 31%-32%, with a non-GAAP operating income of $7M-$9M and a margin of 4%-5%. For the full year, the expected growth is 39%-40%, with a non-GAAP operating income of $47M-$49M and an operating margin of about 7%.
November 13, 2023 | 12:06 pm
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monday.com anticipates higher-than-expected revenue for Q4 and FY23, with significant year-over-year growth and solid operating margins.
The positive revenue forecast by monday.com for both Q4 and FY23, which exceeds analysts' expectations, is likely to instill investor confidence and could lead to a short-term increase in the stock price. The reported growth rates and operating margins suggest operational efficiency and market expansion, which are key drivers of investor sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100