Israeli business operating systems company monday.com (Nasdaq: MNDY) reported its first results today since its initial public offering in June, beating analysts with higher-than-expected revenue. In today’s trading on Wall Street, monday.com’s share price rose 23.55% to $302.78, making the market capitalization $13.24 billion. monday.com’s business operating system allows organizations to produce the tools and processes they require. Revenues for the second quarter of 2021 were $70.6 million, well above analysts’ expectations of $62.1 million and 93.7 percent higher than the corresponding quarter of 2020. Related Articles The New Israelis on Wall Street generate massive revenue monday.com of $9 billion On Monday, Nasdaq completed its initial public offering on the Nasdaq Stock Exchange with a valuation of $6.8 billion, with a net loss in the second quarter of $32.5 million, compared to $33 million in the corresponding quarter of 2020. The non-compliant net loss was GAAP in the second quarter of 2021 was $35.7 million, compared to $31.7 million. In the second quarter of 2020. In the third quarter of 2021, monday.com expects revenue of $74-75 million and a non-GAAP net loss of $25-26 million, and in 2021 it sees The company’s revenues range from 280-282 million US dollars. Operating loss of $91-93 million. monday.com founder and co-CEO Roy Mann said: “We had strong results in the first quarter as a public company, with strong implementation and expansion of our monday.com Work OS app driving total revenue growth of 94%. We are pleased with the momentum in our business that demonstrates continued high growth at scale.” monday.com Founder and Co-CEO Eran Zinman added, “Monday.com Work OS is the leader in the low token market, and our business is accelerating as we continue to expand use of the platform in use cases such as Operations, Project Management, Customer Relationship Management, Finance, Marketing, Human Resources and Information Technology”. Published by Globes, Israel business news – en.globes.co.il – on August 17, 2021 © Copyright Globes Publisher Itonut (1983) Ltd. 2021
monday.com stock price jumped after outperforming analysts in the second quarter
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