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Monday .com (NASDAQ:MNDY) delivered better-than-expected results for the fourth quarter to send its shares higher in premarket Monday.
MNDY posted an EPS of $0.44 on revenue of $149.9 million, which easily beats the analyst consensus for a loss per share of $0.38 on revenue of $141.2M. Revenue increased 57% year-over-year.
“Q4 capped off an amazing year, exceeding our expectations on both the top and bottom lines,” said monday.com founder and co-CEO, Roy Mann. “We finished FY’22 with strong revenue growth, improving efficiency, and positive free cash flow for the second consecutive year. Despite macro uncertainties, we believe we are well positioned for the road ahead.”
For this quarter, monday.com forecasts an adjusted operating loss of $18M (up or down $1M) on revenue of $155M (up or down $1M), better than the analyst consensus of $149M. For 2023, the company sees revenue in the range of $688M-$693M, again easily ahead of the consensus of $661.7M. Monday.com expects to post an adjusted operating loss of $34M (up or down $2M).
The company reiterated that it expects to be free cash flow positive in FY23.
Monday.com shares are up over 12% in premarket Monday.
