Monday.com (MNDY) reported third-quarter earnings and revenue that topped Wall Street consensus estimates while the software maker’s revenue guidance came in below expectations. Monday stock plunged on the news.
Monday.com released earnings before the market open on Monday. For the quarter ending Sept. 30, the maker of project management software reported a profit of $1.16 a share on an adjusted basis, up 36% from a year earlier. Revenue rose 26% to $316.9 million.
Analysts had predicted adjusted profit of 88 cents on revenue of $312.3 million. A year earlier, Monday.com earned 85 cents on revenue of $251 million.
For the current quarter ending in December, Monday.com predicted revenue of $329 million, versus estimates of $333.7 million.
“We’re continuing to scale the business responsibly by balancing investment in innovation and go-to-market expansion with strong operational discipline,” said Chief Financial Officer Eliran Glazer, in a statement. “This approach enables us to sustain margin strength while supporting durable, long-term growth.”
Monday.com Stock Dives
On the stock market today, shares plunged 18% to near 155.49 in early trading. That would be a two-year low. Heading into the earnings report, MNDY stock had retreated 18% in 2024. Monday.com dived 29.8% on Aug. 11 on its Q2 results.
Asana, Smartsheet Rivals
Monday.com competes with Asana (ASAN), Smartsheet (SMAR) and Atlassian (TEAM), among others.
Founded in 2012, Monday.com raised $574 million in its June 2021 initial public offering, with MNDY stock priced at 155.
MNDY stock holds a Composite Rating of 53 out of a best-possible 99, according to IBD Stock Checkup.
Monday.com stock holds an Accumulation/Distribution Rating of D. That rating analyzes price and volume changes in a stock over the past 13 weeks of trading. (A+ signifies heavy institutional buying; E means heavy selling. Think of a C grade as neutral.)
Follow Reinhardt Krause on Twitter @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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