Great Q2 From Monday.com
Aug 15, 2024
Monday.com, a SaaS provider of "Work OS" business management tools, reported another great quarter earlier this week. Revenues were up close to 35%, with expanding profitability and continued strong free cash flows. The firm is also seeing success moving upmarket to larger enterprises, with its largest ever deal closed during the quarter, and a 49% increase in customers paying over $100k annually. I've mentioned many times how larger customers in software are far stickier and far more likely to expand usage organically. Everything is looking good here, but the stock price has soared past the present value, in my opinion. The fair value is $195.
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