Monday.com (NASDAQ:MNDY) stock fell Monday after the work management software company issued third-quarter revenue guidance below Wall Street expectations, overshadowing a second-quarter earnings and revenue beat.
The company reported second-quarter revenue of $364.62 million, up 22% year over year and above the analyst consensus estimate of $355.22 million.
Adjusted earnings of $1.48 per share topped the consensus estimate of $1.11.
Monday.com generates revenue primarily through subscriptions to its cloud-based Work OS platform.
Net dollar retention was 109% overall and 113% among customers with more than 10 users. The number of paid customers generating more than $50,000 in annual recurring revenue rose 31% year over year to 4,834.
