Slide 1: Work OS
Work OS Changing the way that people work and businesses operate
Slide 2: Safe Harbor Disclaimer
Safe Harbor Disclaimer This presentation has been prepared by monday.com Ltd. (“we,” “us,” “our,” “monday.com” or the “Company”). This presentation (including oral commentary that accompanies this presentation) contains “forward- looking statements” within the meaning of the “safe harbor” provisions
Slide 3: Our success by the numbers – Strong revenue growth
Our success by the numbers – Strong revenue growth Quarterly revenue run rate (revenue x4) Q2-23 Financial Highlights $176M 42% $703 Revenue YoY revenue growth $495 63% >120% YoY increase in Net dollar retention rate of customers with $50K ARR* customers with 10+ users* $282 1,892 customers, up from
Slide 4: Serving teams and organizations of all kinds
Serving teams and organizations of all kinds Teams & orgs 200+ 200+ 59% of Fortune of all sizes Countries & Business 500 companies* 2 – 7,000 territories industries Land & expand 14 languages Thousands of use cases 186,000+ customers** 한국어 中文 Español Work management tools Self-serve + flywheel Portu
Slide 5: Increasing number of enterprise customers with more than $50K ARR
Expanding upmarket Increasing number of enterprise customers with more than $50K ARR 63% YoY growth 1,892 We’re focusing on security, control and governance to enable new enterprise deals and expansion. 1,683 1,474 Robust board and item level 1,323 permissions 1,160 Audit log enhancements 960 793 Do
Slide 6: Traditional work software wasn’t working
Traditional work software wasn’t working Rigid architectures Forcing users to adapt to software rather than the other way around Development capabilities limited to a select few Creating a lack of speed and agility Disconnected work tools and applications Causing work silos and loss of information
Slide 7: monday.com Work OS product demo
Product demo monday.com Work OS Democratizing the power of software Watch now Watch now
Slide 8: One platform, many products
One platform, many products We’re taking one modular infrastructure and packaging our offerings into products, expanding to hundreds of industries and thousands of use cases without friction.
Slide 9: Pioneering a new category of software
Pioneering a new category of software The monday.com Work OS Flexible and adaptable Built to change and grow with every customer Customizable no-code building blocks Easy enough for anyone to use One platform to run all aspects of work Where employees run and manage their everyday work Creating a si
Slide 10: Built like no other software
Built like no other software Simple-to-use building blocks that are powerful enough to drive the core functionality within any organization, in any industry, for any use case.
Slide 11: Empowering anyone to build their own tools with no-code building blocks
Building blocks Empowering anyone to build their own tools with no-code building blocks Built as a modular, non-rigid infrastructure Easy to adopt and easy to scale over time Users can fully customize their experience with our no-code and low-code capabilities — nothing is predefined Every building
Slide 12: Integrates with any tool. Automates any workflow
Connective layer Integrates with any tool. Automates any workflow Brings organizations’ departments, applications and data into one unified workspace Serves as a connective layer, integrating with various digital tools across any organization Easily automates complex workflows to accelerate digital
Slide 13: Go-to-market strategy
Go–to-market strategy Rapid product One platform, Expanding innovation many products upmarket
Slide 14: Rapid product innovation enables us to capture the market
Rapid product innovation enables us to capture the market We are constantly expanding our existing capabilities, serving new industries and enterprise customers. Annual Revenue
Slide 15: Rapid product innovation: From 2018
Rapid product innovation From 2018
Slide 16: Rapid product innovation: To 2023
Rapid product innovation To 2023
Slide 17: Enhancing our partner ecosystem
Enhancing our partner ecosystem Our marketplace and partnerships continue to be major growth drivers, increasing our ability to serve all types of organizations across virtually any industry. 196 708 active channel new referral partners partners 301 136 marketplace apps collecting apps payments
Slide 18: A customized user journey
A customized user journey An example: CRM Product Targeted ads Landing pages Product Discovery opportunities for Product Solutions include our template store, integration center, email marketing, CSM, and more.
Slide 19: Why we win
Why we win 1 A new category of software 2 Flexible and adaptable 3 Creating a unified workspace Work OS is the future of Fits organizations of all Connecting departments, work software sizes, from teams of 2 to tools and data across the companies of over 7,000 organization 4 Virtually limitless 5 A
Slide 20: Pricing model
Pricing model ~100% of our revenue is subscription-based Price is per user according to the subscription plan
Slide 21: Financial overview and update
Financial overview and update
Slide 22: Consistent incremental revenue growth ($ Millions)
Consistent incremental revenue growth ($ Millions) Quarterly revenue Annual revenue Q2-23 YoY growth: 42% 176 ’20-’22 CAGR: 79% 519 162 150 137 124 108 308 96 83 71 59 50 161 43 36 Q2-20 Q3-20 Q4-20 Q1-21 Q2-21 Q3-21 Q4-21 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 FY-20 FY-21 FY-22
Slide 23: Strong net dollar retention rate
Strong net dollar retention rate All customers Customers with 10+ users Customers with >$50K ARR >150% >145% >135% >135% >130% >135% >125% >120% >120% >125% >120% >125% >120% >115% >110% Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Note: For definition of
Slide 24: Operating leverage while investing in growth
Operating leverage while investing in growth Quarterly expenses as a % of revenue Annual expenses as a % of revenue (53%) (17%) (9%) (12%) (2%) (0%) 10% 9% 113% 79% 69% 70% 60% 63% 54% 56% 19% 19% 19% 17% 18% 16% 18% 16% 12% 11% 10% 10% 8% 9% 11% 11% Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 FY-20 FY-21 FY-22 O
Slide 25: Investing in growth while maintaining cash efficiency
Investing in growth while maintaining cash efficiency Quarterly adjusted free cash flow margin Annual adjusted free cash flow margin 3% 2% 26% 24% 20% 10% (25%) (16%) Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 FY-20 FY-21 FY-22 Adjusted free cash flow amounts to: ($19.3M), $14.0M, $29.7M, $38.7M Adjusted free ca
Slide 26: Thank you
“.monday.on Thank you
Slide 27: Appendix
Appendix Supplementary materials
Slide 28: Definitions
Definitions (1) We calculate Net Dollar Retention Rate as of a period end by starting with the ARR from customers as of the 12 months prior to such period end Landing (“Prior Period ARR”). We then calculate the ARR from Page these customers as of the current period end (“Current Period ARR”). The ca
Slide 29: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted free cash flow Landing Page ($ in millions) FY-20 FY-21 FY-22 Net cash provided by (used in) operating activities (37.2) 16.4 27.1 Purchase of PP&E (4.4) (11.6) (16.0) Capitalized software development costs (1.1) (2.2) (3.0) Purchase of property
Slide 30: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Free cash flow Landing Page ($ in millions) Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Net cash provided by (used in) operating activities (14.1) 20.0 34.1 42.7 47.6 Purchase of PP&E (4.5) (5.3) (3.8) (3.6) (1.1) Capitalized software development costs (0.7) (0.7) (0.
Slide 31: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Non-GAAP operating loss ($ in thousands) FY-20 FY-21 FY-22 Landing Page Reconciliation of gross profit: GAAP gross profit 138,635 269,137 452,501 Add: Share-based compensation 2,720 7,681 10,406 Non-GAAP gross profit 141,355 276,818 462,907 Reconciliatio
Slide 32: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Non-GAAP operating loss (cont.) ($ in thousands) FY-20 FY-21 FY-22 Landing Page Reconciliation of operating expenses (cont.): GAAP general and administrative 54,339 53,493 85,401 Less: Share-based compensation 39,415 20,934 28,100 Non-GAAP general and ad
Slide 33: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Non-GAAP operating loss ($ in thousands) Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Landing Page Reconciliation of gross profit: GAAP gross profit 106,988 119,063 132,562 145,242 156,163 Add: Share-based compensation 2,915 2,683 2,367 1,477 1,845 Non-GAAP gross profi
Slide 34: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Non-GAAP operating loss (cont.) ($ in thousands) Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Landing Page Reconciliation of operating expenses (cont.): GAAP general and administrative 22,466 22,348 21,717 23,251 21,781 Less: Share-based compensation 7,833 7,108 6,700