They’ve (finally) reported a jump in sequential revenue over $13M to $14.31M, and I anticipate further growth to around $19M in upcoming quarters. This signals promising progress:
I assume, the primary driving force behind this is the increase in prices, coupled with the expansion through opening up Monday Sales CRM and Monday Dev to all customers. It’s worth noting that these changes aren’t yet reflected in the Net Revenue Retention rates since those metrics look backward.
Operating and free cash flow margins exceeding 41% are certainly impressive figures.
The fact that the company achieved profitability relatively quickly and maintained strong execution, especially during the past challenging couple of years, speaks volumes about its resilience and adaptability (and mission criticality?).
Nevertheless, the relatively lower absolute revenue base, with $217M revenue in Q1 growing at 34% YoY, tempers my optimism (a bit). To put it into perspective, businesses like SNOW or CRWD are growing over 3X that size at a similar growth rate.