monday.com Guides Q3 Revenue Below Estimates, Stock Drops 6%
MNDY sits 52% above its 52-week low of $57.5 on elevated volume (1.9× avg).
Summary
monday.com reported Q2 revenue of $364.6M (+22% YoY) and adjusted EPS of $1.48, both beating estimates. However, Q3 revenue guidance of $368M-$370M missed the $372.73M consensus, and the company warned of short-term disruption from its 20% workforce cut. Full-year adjusted operating margin was raised to ~16% from ~13%, reflecting cost savings from the restructuring. The stock fell 6.1% as the weak outlook overshadowed the strong Q2 beat. This follows the earlier Q2 earnings release and the July restructuring announcement.
At the time of this announcement, MNDY was trading at $87.17 on NASDAQ in the Technology sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $57.50 to $252.86. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Benzinga.