Eran Zimanan and Roi Mann (Photo by Nathaniel Torias)
The Israeli company Monday.com today released its first annual report as a public company, and despite some optimistic data investors went into hysteria.
Monday.com ended the fourth quarter of 2021 with revenue of $ 95.6 billion – an increase of 91%, that is, close to twice as much as in the corresponding quarter in 2020; Operating loss of $ 31.6 million compared to $ 61.7 million a year earlier – a decrease of almost 50% in this item; A net loss of $ 32.6 million compared to 62.9 – again a decrease of almost 50%; And a loss of 73 cents per share, compared to a nearly $ 5.5 loss per share a year ago.
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The company ended its first year as a publicly traded company with revenues of $ 308.15 million – an increase of 91% compared to 2020; Operating loss of $ 126.1 million compared to $ 150.5 million in the previous year, when the loss rate dropped from 93% of revenue to 41%; And a net loss of $ 129.3 million compared to $ 152.2 million in 2020 and $ 4.53 per share compared to $ 14.19 per share a year ago.
The company noted that for her, this is positive data; She stressed that the number of paying customers has jumped 34% to 152,048, and the number of paying customers who bring in amounts of more than $ 50,000 a year has tripled to 793. Its forecast for the current quarter was for a 70% -73% increase in revenue, to the tune of $ 100 million to $ 102 million.
“We ended another excellent quarter on Monday and the fiscal year 2021 with a particularly strong momentum,” said Roy Mann, founder and co-CEO of Monday. Free cash in the fourth quarter. His partner, Eran Zinman, added that “over the past quarter, we have introduced a number of new capabilities designed to give our customers more powerful ways to create the organization’s core business management software, as part of our quest to continually produce innovation and add significant value to our customers.”
However, the CEOs’ optimism did not reassure investors, who seem to have internalized what was published here on ice on the day of the company’s issuance, so they stated that it was unable to make money and was burning cash at a rate that should greatly deter potential investors. -Street more than 20%, after also yesterday, prior to the presentation of the reports, fell by 8.9%. However, the company’s market capitalization is still slightly higher than its estimated value at the time of the IPO – $ 6.8 billion.
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