Shares of Monday.com (NASDAQ: MNDY) soared in pre-market trading on Monday as the work management platform announced upbeat Q3 results. The company’s revenues jumped 65% year-over-year to $136.9 million, beating analysts’ estimates by $6.5 million.
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Adjusted earnings came in at $0.05 per share versus a loss of $0.26 per share in the same period last year. Analysts were expecting a loss of $0.54 per share.
More importantly, MNDY’s number of paid customers with more than $50,000 in Annual Recurring Revenue (ARR) soared 116% to 1,323 customers at the end of Q3.
For FY22, monday.com now expects revenues in the range of $509 million to $511 million, a year-over-year growth between 65% and 66% while adjusted operating loss is anticipated to be range from $83 million to $81 million.
