Monday.com · Q1 2025 earnings

Briefing

Revenue grows 27% to $299M; non-GAAP EPS $1.09 as enterprise demand accelerates

monday.com delivered Q2 2025 revenue of $299.0 million, up 27% year over year, with strong enterprise momentum including a record number of net new customers above $100k ARR (1,472, +46% YoY). GAAP net income was $1.6 million ($0.03 per share) versus $14.3 million in Q2 2024, reflecting higher share-based compensation as R&D spending rose sharply. Non-GAAP net income reached $58.3 million with non-GAAP EPS of $1.09 diluted. Non-GAAP operating income was $45.1 million (15% margin). Net dollar retention was 111% overall and 117% for customers above $100k ARR. monday CRM surpassed $100M ARR three years after launch. Adjusted free cash flow was $64.1 million with cash ending the quarter at $1.59 billion.

• Revenue $299.0M (+27% YoY); GAAP net income $1.6M ($0.03/share); non-GAAP EPS $1.09 diluted
• Non-GAAP operating income $45.1M (15% margin); adjusted free cash flow $64.1M
• 1,472 customers with >$100k ARR (+46%); net dollar retention 111% (117% for >$100k ARR)
• monday CRM reached $100M ARR; launched AI features monday magic, vibe, and sidekick
• Q3 revenue outlook $311–313M (+24–25% YoY); FY2025 revenue outlook $1,224–1,229M

Headline financials

Revenue & EPS history

Q3 2025 revenue expected $311–313M (+24–25% YoY) with non-GAAP operating income $34–36M. Full-year 2025 revenue outlook $1,224–1,229M (~26% growth), non-GAAP operating income $154–158M, and adjusted free cash flow $320–326M.