Monday.com Ltd. · NASDAQ:MNDY
Monday.com — Q2 2026 Earnings Presentation
27 slides from Monday.com's earnings presentation, Aug 10, 2026
Slide 1: Q2 FY26 Earnings
monday... Q2 FY26 EQrnings August 2026
Slide 2: Safe harbor
Safe harbor This presentation contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding our financial outlook and market positioning. These forward-looking state
Slide 3: Strong revenue growth
$365M 22% Strong revenue growth $365M Revenue YoY revenue growth $351M $334M 31% 115% $299M $317M YoY increase in customers Net dollar retention rate* of with $50k+ ARR* to 4,834*** customers with $50k+ ARR*** 89% $52M Adjusted free cash flow ** Gross margin** Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 represent
Slide 4: In this new era, our mission is transformed
, In this new era, — our mission is transtormed.
Slide 5: From managing work to doing the work
From managing work to doing the work. + “monday...
Slide 6: The best monday.com AI work platform
T h e best monday.com Al work platform Al work 4 Sree platform ry | S8 Al work capabilities > my | & monday
Slide 7: AI usage metrics: agent interactions, AI blocks actions
1.7M+ 98M+ Agent interactions AI blocks actions ~3M 180k+ conversations Notetaker hours Note: Based on data at the end of Q2 since the product feature launch
Slide 8: Total customers
Total customers 252K +17% 245K 225K 186K 152K Customers CAGR 114K 2020 – 2025 FY-20 FY-21 FY-22 FY-23 FY-24 FY-25 Note: data as of the end of each year
Slide 9: Customers spanning across 200+ industries
Customers spanning across 200+ industries > _ 0 Education Industrials Finance Marketing Retail Publishing « Ms. ah
Slide 10: % of revenue by region
% of revenue Europe North 28% America 53% MEA 5% Latam APAC 6% 8% Note: data represents % of Q2 FY26 revenue
Slide 11: $50k+, $100k+, $500k+ ARR customers
$50k+ ARR customers $100k+ ARR customers $500k+ ARR customers +31% YoY growth +37% YoY growth +68% YoY growth 2,019 114 4,834 1,844 99 4,547 1,756 4,281 1,603 87 3,993 1,472 78 3,702 68 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Note: for definition of
Slide 12: % of total ARR by customer ARR band
% of total ARR $50k+ ARR customers $100k+ ARR customers $500k+ ARR customers 7% 30% 43% 42% 29% 6% 6% 6% 41% 28% 40% 5% 27% 38% 26% Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Note: for definition of ARR, see App end ix Note: data as of the end of each q
Slide 13: Financial overview and update
Financial overview and update
Slide 14: Quarterly and annual revenue
Quarterly revenue Annual revenue +22% YoY growth ’20-’25 CAGR: 50% $1,232M $365M $351M $334M $317M $972M $299M $282M $268M $251M $236M $730M $519M $308M $161M Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 FY-20 FY-21 FY-22 FY-23 FY-24 FY-25
Slide 15: Remaining performance obligations (RPO and cRPO)
Total remaining performance obligations Current remaining performance obligations (RPOs) (cRPOs) +34% YoY growth +27% YoY growth $937M $750M $880M $716M $839M $676M $620M $747M $588M $699M Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Note: for definitions of RPO s and cRPO s, see Ap p
Slide 16: Net dollar retention rate: all customers
All customers 125% 123% 121% 117% 114% 112% 111% 112% 112% 111% 111% 110% 110% 110% 110% 110% 109% Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Note: for definition of net dollar retention rate, see A ppendix Note: data as of the end of each q
Slide 17: Net dollar retention rate by customer segment
Customers with 10+ users $50k+ ARR customers $100k+ ARR customers 117% 117% 117% 116% 116% 116% 116% 115% 115% 115% 115% 115% 114% 114% 113% Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Note: for definition of net dollar retention rate, see A ppendix Note
Slide 18: Expenses as a % of revenue
Quarterly expenses as a % of revenue Annual expenses as a % of revenue 15% 15% 13% 14% 17% (53%) (17%) (9%) 8% 14% 14% 47% 48% 45% 41% 48% 113% 79% 69% 57% 51% 48% 20% 18% 20% 22% 23% 19% 17% 18% 16% 19% 17% 9% 9% 9% 8% 8% 11% 11% 9% 9% 8% 9% Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 FY-20 FY-21 FY-22 FY-23 FY-
Slide 19: Adjusted free cash flow margin
Quarterly adjusted free cash flow margin Annual adjusted free cash flow margin 30% 29% 29% 28% 26% 21% 17% 3% 2% 14% (25%) Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 FY-20 FY-21 FY-22 FY-23 FY-24 FY-25 Adjusted free cash flow amounts to: $64.1M, $92.3M, $56.7M, $102.8M, Adjusted free cash flow amounts to: ($40.7
Slide 20: Appendix
Appendix Supplementary materials
Slide 21: Definitions
Definitions (1) Annual recurring revenue (“ARR”) is defined to mean, as of a measurement date, the annualized value of our customer subscription plans assuming that any contract that expires during the next 12 months is renewed on its existing terms. (2) We calculate Net Dollar Retention Rate (NDR)
Slide 22: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) FY’20 FY’21 FY’22 FY’23 FY’24 FY’25 Net cash provided by (used in) operating (37.2) 16.4 27.1 215.4 311.1 333.6 activities Purchase of PP&E (4.4) (11.6) (16.0) (7.9) (13.2) (20.3) Capitalized software development c
Slide 23: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures Adjusted free cash flow ($ in millions) Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Net cash provided by operating activities 66.8 95.1 59.7 104.7 55.4 Purchase of PP&E (5.9) (4.0) (6.9) (2.4) )3.8( Capitalized software development costs (0.9) (0.9) (0.7) (0.5) (1.1)
Slide 24: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures ($ in thousands) FY’20 FY’21 FY’22 FY’23 FY’24 FY’25 ✦ Reconciliation of gross profit: GAAP gross profit 138,635 269,137 452,501 649,050 868,304 1,098,898 Add: Share-based compensation 2,720 7,681 10,406 6,307 6,603 8,561 Non-GAAP gross profit 141,355 27
Slide 25: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures ($ in thousands) FY’20 FY’21 FY’22 FY’23 FY’24 FY’25 Reconciliation of operating expenses (cont.): GAAP general and administrative 54,339 53,493 85,401 92,733 142,090 148,996 Less: Share-based compensation 39,415 20,934 28,100 29,747 37,746 42,116 Less:
Slide 26: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures ($ in thousands) Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 ✦ Reconciliation of gross profit: GAAP gross profit 267,841 281,067 296,545 313,141 321,960 Add: Share-based compensation 2,272 2,964 2,191 1,049 2,262 Non-GAAP gross profit 270,113 284,031 298,736 314,190 3
Slide 27: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures ($ in thousands) Q2-25 Q3-25 Q4-25 Q1-26 Q2-26 Reconciliation of operating expenses (cont.): GAAP general and administrative 39,763 38,184 38,505 35,972 40,359 Less: Share-based compensation 13,200 11,213 9,258 7,413 9,694 Non-GAAP general and administra