monday.com Ltd. reported an outstanding start to 2025 with strong first-quarter financial results. Revenue for Q1 2025 reached $282.3 million, marking a 30% increase year-over-year, surpassing analyst expectations. The company also achieved record GAAP and non-GAAP operating income, alongside its highest-ever adjusted free cash flow for a single quarter.
Non-GAAP operating income for the quarter was $44.0 million, resulting in a 16% operating margin. Net income for Q1 2025 was $27.4 million, with diluted earnings per share of $0.52. The adjusted free cash flow represented 39% of revenue, demonstrating strong operational efficiency.
The company's net dollar retention rate stood at 112%, increasing to 115% for customers with more than ten users. monday.com also saw a 38% year-over-year increase in customers with over $50,000 in annual recurring revenue (ARR), reaching 3,444 customers. For the second quarter of fiscal year 2025, monday.com expects revenue between $292 million and $294 million, while reiterating its full-year 2025 revenue guidance of $1.224 billion to $1.229 billion.
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