monday.com Sees Surge in High-Paying Customers and Boosted Margins

Published 2 hours agoMNDY

monday.com Sees Surge in High-Paying Customers and Boosted Margins

monday.com has reported impressive growth in its high-paying customer segment alongside improved operating margins. As of December 31, 2024, the number of clients with annual recurring revenue (ARR) exceeding $50,000 jumped by 39% year-over-year, reaching 3,201. Additionally, customers generating over $100,000 in ARR surged by 45%, totaling 1,207 for the same period, according to details shared on Nasdaq.com.

Supporting its robust customer growth, monday.com also showcased enhanced operational efficiency. The company's non-GAAP operating margin for the fourth quarter of 2024 increased to 15%, up from 10% the previous quarter. For the full fiscal year 2024, this margin stood at 14%, reflecting a significant improvement from the 8% recorded in fiscal year 2023, as noted by the company’s investor relations website.

These developments are part of monday.com's ongoing strategy to attract and keep high-value customers, while simultaneously boosting operational effectiveness. The company's revenue for the fourth quarter hit $268 million, marking a 32% rise year-over-year, and it maintained a strong net dollar retention rate of 112%, signifying solid customer retention and expansion.

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