MNDY · monday.com Ltd.

monday.com delivered a strong first quarter in 2026, with revenue of $351.3 million, up 24% year-over-year, driven by broad-based strength across customer segments and the early success of its new AI Work Platform. The company achieved record GAAP operating income of $19.8 million (6% margin) and non-GAAP operating income of $49.0 million (14% margin), despite a 190 basis point negative FX impact. Net dollar retention remained healthy at 110% overall and 116% for customers with over $50k ARR. Notably, the number of customers with over $500k ARR surged 74% to 99, reflecting strong enterprise adoption. Management highlighted the launch of the AI Work Platform with native agents and a consumption-based pricing model as key strategic moves. The company also announced the acquisition of OneAI to add voice agent capabilities. For Q2 2026, monday.com guided revenue of $354-$356 million (18-19% YoY growth) and non-GAAP operating income of $46-$48 million. For the full year, revenue is expected to be $1,466-$1,474 million (19-20% growth) with non-GAAP operating margin around 13%. The company also repurchased $553 million in shares during Q1, with $182 million remaining under its $870 million authorization. Overall, the results and guidance underscore monday.com's disciplined execution and growing operating leverage, supported by AI-driven product innovation.