Monday.com Inc. (NASDAQ: (MNDY) stock declined by 10.40% at last close whereas the MNDY stock price gained by 8.06% in the after-hours trading session. The company has not provided any update as of now. The monday.com Work OS is an open platform that democratizes software power so that businesses may quickly create work management tools and software applications to meet their specific requirements.
MNDY stock’ Financial Results
Monday.com released financial results for the third quarter of 2021, which concluded on September 30, 2021, on November 10, 2021.
- For the third quarter of 2021, revenue was $83.0 million, up 95 percent from the previous year.
- GAAP operational loss was $29.2 million, down from $40.6 million in the third quarter of 2020.
- GAAP operating margin was negative 35%, down from negative 95% in the third quarter of 2020.
- The non-GAAP operational loss was $9.4 million, down from $30.9 million in the third quarter of 2020
- The non-GAAP operating margin was negative 11 percent, down from negative 72 percent.
- In the third quarter of 2021, net cash provided by operating operations was $3.8 million, with a positive adjusted free cash flow of $2.9 million, relative to negative $7.2 million in net cash consumed in operating activities and negative $7.8 million in adjusted free cash flow.
- In the third quarter of 2020, GAAP net loss per basic and diluted share was $0.65, compared to $3.74 in the third quarter of 2019.
- As of September 30, 2021, we had $876.2 million in cash and cash equivalents, including $735.9 million in net proceeds from our IPO and concurrent private placement.
Future Outlook
- The company is expecting its revenue to be $87 to $88 million for the fourth quarter of 2021 which will be a 74% to 75% y-o-y growth however for the full year 2021 the anticipated revenue is $300 million to $301 million, an increase of 86% to 87% y-o-y.
- For the fourth quarter of 2021, the operating loss is expected to be $23 million to $22 million on a non-GAAP basis. While for the full year 2021the non-GAAP operating loss ranges from $65 million to $64 million, with a negative operating margin of 22% to 21%.
