Slide 1: Q1 FY26 Earnings
¢@.mMonday.-on QI FY26 FAIMMINGS May 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
$351M 24% Strong revenue growth $351M Revenue YoY revenue growth $334M $317M $299M 32% 116% $282M YoY increase in customers Net dollar retention rate* of with $50k+ ARR* to 4,547*** customers with $50k+ ARR*** 89% $103M Adjusted free cash flow ** Gross margin** Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 represen
Slide 4: In this new era, our mission is transformed
In this new era, — our mission is transformed.
Slide 5: From managing work to doing the work
From managing work to doing the work. + /é.monday....
Slide 6: The best AI work platform
The best Al work platform monday.com Al work platform management CRM campaigns service A Al work capabilities ) om Unified context layer on g mondayDB
Slide 7: Total customers
Total customers 245K 252K +17% 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 8: Customers spanning across 200+ industries
Customers spanning across 200+ industries Dax cove QD Education Industrials Finance Marketing Retail Publishing < Mm. a6
Slide 9: % of revenue by region
% of revenue Europe North 28% America 53% MEA 5% Latam APAC 6% 8% Note: data repres ents % of Q1 FY 26 revenue
Slide 10: $50k+ ARR customers
$50k+ ARR customers $100k+ ARR customers $500k+ ARR customers +32% YoY growth +39% YoY growth +74% YoY growth 4,547 1,844 99 4,281 1,756 3,993 87 1,603 3,702 1,472 78 3,444 1,328 68 57 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Note: for definition of A
Slide 11: % of total ARR
% of total ARR $50k+ ARR customers $100k+ ARR customers $500k+ ARR customers 42% 29% 28% 6% 6% 6% 41% 40% 27% 26% 5% 5% 38% 24% 37% Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Note: for definition of ARR, see Ap pendix Note: data as of the end of each qu
Slide 12: Apps in the marketplace and partners
959 308 apps in the marketplace active channel partners 752 901 apps collecting payments new referral partners
Slide 13: Financial overview and update
Financial overview and update
Slide 14: Quarterly and annual revenue
Quarterly revenue Annual revenue +24% YoY growth ’20-’25 CAGR: 50% $1,232M $351M $334M $317M $972M $299M $282M $268M $251M $236M $730M $217M $519M $308M $161M Q1-24 Q2-24 Q3-24 Q4-24 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 FY-20 FY-21 FY-22 FY-23 FY-24 FY-25
Slide 15: Total remaining performance obligations
Total remaining performance obligations Current remaining performance obligations (RPOs) (cRPOs) +33% YoY growth +26% YoY growth $880M $716M $839M $676M $747M $620M $568M $588M $699M $660M Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Note: for definitions of RPOs and cRPOs, s ee Appen
Slide 16: All customers net dollar retention
All customers 125% 125% 123% 121% 117% 114% 112% 112% 112% 110% 110% 110% 111% 111% 111% 110% 110% Q1-22 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 Note: for definition of net dollar retention rate, see Ap pendix Note: data as of the end of each q
Slide 17: Net dollar retention by customer cohort
Customers with 10+ users $50k+ ARR customers $100k+ ARR customers 117% 117% 117% 117% 116% 116% 116% 116% 116% 115% 115% 115% 115% 114% 114% Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Note: for definition of net dollar retention rate, see Ap pendix Note
Slide 18: Quarterly expenses as a % of revenue
Quarterly expenses as a % of revenue Annual expenses as a % of revenue 14% 15% 15% 13% 14% (53%) (17%) (9%) 8% 14% 14% 48% 47% 48% 48% 45% 113% 79% 69% 57% 51% 48% 19% 20% 18% 20% 22% 19% 17% 18% 16% 17% 19% 9% 9% 9% 9% 8% 9% 11% 11% 9% 8% 9% Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 FY-20 FY-21 FY-22 FY-23 FY-
Slide 19: Quarterly adjusted free cash flow margin
Quarterly adjusted free cash flow margin Annual adjusted free cash flow margin 39% 30% 28% 26% 29% 29% 21% 3% 2% 17% (25%) Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 FY-20 FY-21 FY-22 FY-23 FY-24 FY-25 Adjusted free cash flow amounts to: $109.5M, $64.1M, $92.3M, $56.7M, 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) Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Net cash provided by operating activities 112.0 66.8 95.1 59.7 104.7 Purchase of PP&E (3.7) (5.9) (4.0) (6.9) (2.4) Capitalized software development costs (0.8) (0.9) (0.9) (0.7) (0.5)
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 54,3 39 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) Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 ✦ Reconciliation of gross profit: GAAP gross profit 253,445 267,841 281,067 296,545 313,141 Add: Share-based compensation 1,134 2,272 2,964 2,191 1,049 Non-GAAP gross profit 254,579 270,113 284,031 298,736 3
Slide 27: Reconciliation of non-GAAP financial measures
Reconciliation of non-GAAP financial measures ($ in thousands) Q1-25 Q2-25 Q3-25 Q4-25 Q1-26 Reconciliation of operating expenses (cont.): GAAP general and administrative 32,544 39,763 38,184 38,505 35,972 Less: Share-based compensation 8,445 13,200 11,213 9,258 7,413 Non-GAAP general and administra