Key Highlights

  • MNDY closed up 7.96% at $100.88 on October 20 and is up 19.15% over the week.
  • Second-quarter revenue was $364.6 million, up 22%.
  • Full-year 2026 revenue guidance is $1,466 million to $1,474 million.
  • Customers above $100,000 in annual recurring revenue numbered 2,019, up 37%.
  • Cash and securities were about $1.07 billion after a full $870 million buyback authorization was used.

Why Is monday.com Up 19.15% This Week, and Is Second-Quarter Growth What Investors Are Missing?

monday.com (NASDAQ:MNDY) closed up 7.96% at $100.88 on October 20 and is up 19.15% over the week. No company-specific announcement was identified for the session or the week. The stock moved in the same session as Braze (NASDAQ:BRZE), which received a takeover offer, but any link between the two is coincident rather than confirmed.

What investors may be missing is the fundamental record that predates the move. The company is an Israel-based work-management and collaboration platform, and its second-quarter report, issued on August 10, showed revenue of $364.6 million, up 22%, including a tailwind of about 110 basis points from currency. Full-year 2026 revenue guidance stands at $1,466 million to $1,474 million.

How Profitable Was the 22% Revenue Growth?

Non-GAAP operating income was $61.1 million, or about 17% of revenue against 15% a year earlier. The GAAP operating loss was about $1.5 million, including $21.4 million of restructuring costs.

Adjusted free cash flow was $52.3 million, a 14% margin, down from $64.1 million a year earlier. Cash and securities were about $1.07 billion, and the company repurchased about $182 million of stock in the quarter, using its full $870 million authorization.

Do Customer Expansion Metrics Support the Rally?

Net dollar retention was 109% overall and 113% for customers with 10 or more users. The company had 65,783 customers with 10 or more users, up 6%, and 4,834 customers above $50,000 in annual recurring revenue, up 31%.

Customers above $100,000 numbered 2,019, up 37%, and those above $500,000 numbered 114, up 68%. The faster growth in larger accounts compares with the 6% increase in the overall base of customers with 10 or more users, so growth is concentrated at the top of the customer base.

Third-quarter guidance calls for revenue of $368 million to $370 million and non-GAAP operating income of $57 million to $59 million. Full-year 2026 guidance is for non-GAAP operating income of $230 million to $234 million and adjusted free cash flow of $280 million to $290 million, with an assumed currency headwind of 100 to 200 basis points.

Outlook: November Report Will Test the Third-Quarter Range

monday.com is expected to report in November, although the date was not confirmed. The results will show whether revenue lands within the $368 million to $370 million third-quarter range and whether non-GAAP operating income moves in line with guidance of $57 million to $59 million. Because no announcement accompanied the 19.15% weekly gain, those figures will be the next confirmed information on growth and margins.