Q1 2026 monday.com Ltd Earnings Call Transcript
Key Points
- Monday.Com Ltd (MNDY) reported a 24% year-over-year revenue growth for Q1 2026, indicating strong demand for its platform.
- The company achieved a record $49 million in operating profit, showcasing efficient growth.
- Gross retention reached historical highs, demonstrating deep integration of Monday.Com Ltd (MNDY) in customer operations.
- Enterprise momentum is strong, with 42% of ARR coming from customers with over $50,000 in ARR.
- AI-driven products contributed approximately 3% of net new ARR in Q1, with expectations for growth as AI offerings expand.
- Overall Net Dollar Retention (NDR) was 110% in Q1, with expectations for a slight decline by the end of fiscal year 2026.
- Research and development expenses increased to 22% of revenue, up from 19% in the previous year.
- The company experienced a negative FX impact on operating margin due to the appreciation of the Israeli shekel.
- Total cash and marketable securities decreased from $1.67 billion to $1.21 billion, partly due to share repurchases.
- The top of funnel environment remains soft, aligning with expectations but indicating potential challenges in demand generation.
Good day. My name is Desiree, and I'll be your conference operator today. At this time, I would like to welcome everyone to monday.com's first-quarter fiscal year 2026 earnings conference call.
I would like to turn the call over to monday.com's Vice President of Investor Relations, Mr. Byron Stephen. Please go ahead.
Hello, everyone, and thank you for joining us on today's conference call to discuss the financial results for monday.com's first quarter fiscal year 2026. Joining me today are Roy Mann and Eran Zinman co-CEO's of monday.com; Eliran Glazer, monday.com's CFO; and Casey George, monday.com's CRO.
We released our results for the first quarter of fiscal year 2026 earlier today. You can find our quarterly shareholder letter, along with the investor presentation and a replay of today's webcast under the News and Events section of our IR website at ir.monday.com.
Certain statements made on the call today will be forward-looking statements, which reflect management's
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