
Investing.com -- Monday.com shares surged more than 15% in premarket trading Monday after the company reported better-than-expected Q4 results and offered an upbeat outlook for the first quarter of fiscal 2025.
For Q4, the project management software maker reported earnings per share (EPS) of $1.08, surpassing analyst estimates of $0.79. The company's revenue jumped 32% year-over-year to $268 million, also ahead of the consensus forecast of $261.37 million.
Monday.com reported cash and cash equivalents of $1.41 billion, up 26% year-over-year, though just below the $1.42 billion estimate.
“2024 was a remarkable year for monday.com, reflecting our rapid product innovation and focus on go-to-market execution, driving strong demand across customers of all sizes. We are proud to have further expanded our product suite with monday service, which is already seeing rapid adoption from both existing and new customers,” said monday.com co-founders and co-CEOs, Roy Mann and Eran Zinman.
“As we look to 2025, we are excited to double-down on our AI efforts, with a focus on AI Blocks, Product Power-ups, and our new Digital Workforce of AI Agents. We believe AI can be a game-changer for our customers, giving them the ability to transform their workflows and scale faster than ever before.”
For guidance, the company expects first-quarter 2025 revenue between $274 million and $276 million, compared to the consensus estimate of $273.9 million.
Full-year 2025 revenue is projected at $1.21 billion to $1.22 billion, in line with the consensus forecast of $1.21 billion.