Summary by Moomoo AI
monday.com Ltd., a leading work operating system platform, announced its financial results for the fourth quarter and fiscal year 2023 on February 12, 2024. The company reported a significant year-over-year revenue increase of 35% for the quarter, reaching $202.6 million, and a 41% increase for the fiscal year, totaling $729.7 million. The number of customers with over $50k in annual recurring revenue (ARR) grew by 56%, indicating strong customer growth. Notably, monday.com achieved a record annual non-GAAP operating margin and free cash flow. The company's GAAP operating loss improved from $10.1 million in Q4 2022 to $1.1 million in Q4 2023, and from a $152.0 million loss in fiscal 2022 to a $38.6 million loss in fiscal 2023. Non-GAAP operating income was $21.2 million for the quarter and $61.6 million for the year. The...Show More