Monday earnings


Monday posted its earnings, and while they are very good, they are not great. Here are the highlights.

  • revenue is 95.5 million, a 91% YoY and 15% SQoQ increase (against 95% and 18% in the previous quarter).
  • the entire 2021 revenue was 308.2 million, a 91% increase YoY
  • Net dollar retention rate for customers with more than 10 users was over 135%
  • The number of paid customers with more than $50,000 in annual recurring revenue (“ARR”) was 793, up 200% from 264 as of December 31, 2020. It is also +29.4% sequentially (previous was 613).
  • adjusted FCF is 10.1 million. (the upward trend continues).

The Outlook provided is like this:

  • revenue of $100 to $102 million for Q1 2022, representing year-over-year growth of 70% to 73%.
  • Total revenue of $470 million to $475 million for 2022, representing year-over-year growth of 53% to 54%

Both the revenue growth and outlook are below the benchmarks of Dawsdaws:…

We know they’ll beat and raise. The timing sucks though. Anything less than a “great” quarter and the stock gets a wallop, even when it’s cheap compared to its peers.

Happy to hear your thoughts.