Monday.Com(NASDAQ:MNDY) 
Monday.com, legally Monday.com Ltd., is a Cloud-based platform that allows companies to create their own applications and work management software. The product was launched in 2014 and in July 2019, the company raised $150 million, based on a $1.9 billion valuation. The company went public in June 2...
Website: https://monday.com/
Founded: 2012
IPO Price: $155 (Jun 10, 2021)
Full Time Employees: 1,744 (Sep 2023)
CEO / Co-Founder: Eran Zinman
Sector: Technology
Industry: Software-Application
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At a glance:
- Revenue Growth Remains the Core Narrative: monday.com is still primarily valued on its ability to sustain strong top-line growth in work management software, driven by continued customer expansion and broader adoption across teams.
- Operating Leverage and Margin Expansion in Focus: Investors closely track how efficiently the company scales—particularly whether sales & marketing intensity declines over time and translates into improving operating margins.
- Net Dollar Retention and Enterprise Mix Are Key KPIs: Upsell/cross-sell performance (net dollar retention) and the pace of moving upmarket into larger customers are central to assessing product stickiness and long-term growth durability.
- Competitive Pressure in Work Management and Collaboration Tools: The company operates in a crowded category with well-funded incumbents and adjacent platforms; differentiation via product breadth, integrations, and ease of use remains critical.
- Valuation Sensitivity to Growth and Profitability Signals: As a growth software name, the stock tends to react strongly to guidance changes, billings/remaining performance obligations trends, and any signals that growth is decelerating or profitability is accelerating.
Bull Thesis:
- Strong Enterprise Adoption and Upselling: Monday.com continues to demonstrate success in attracting larger enterprise clients and expanding its footprint within existing accounts. This strategy drives higher average revenue per user (ARPU) and creates more stable, predictable revenue streams as larger organizations tend to have lower churn.
- Expanding Work OS Ecosystem and TAM: The company's strategic evolution into a comprehensive 'Work OS' platform, offering solutions beyond core project management (e.g., CRM, Dev, Marketing, HR), significantly expands its total addressable market (TAM). This broadens its appeal to diverse departments and industries, increasing product stickiness and cross-selling opportunities.
- High Net Dollar Retention Rates: Consistently high net dollar retention rates (NDR) indicate strong customer satisfaction, low churn, and successful upselling/cross-selling to existing customers. This provides a predictable and compounding revenue base, reducing reliance solely on new customer acquisition for growth.
- Improving Profitability and Free Cash Flow Generation: Monday.com has shown a clear path towards profitability, with improving operating margins and consistent positive free cash flow. This demonstrates the scalability and financial health of its SaaS business model, reassuring investors about its long-term viability and ability to self-fund growth.
Bear Thesis:
- Intense Competition in the Collaboration Software Market: The work management and collaboration software space is highly saturated with well-funded competitors, including established tech giants (e.g., Microsoft, Google, Atlassian) and numerous niche players (e.g., Smartsheet, Asana). This intense competition could limit market share expansion, put pressure on pricing, and increase customer acquisition costs.
- Macroeconomic Headwinds and Software Spending Slowdown: A challenging global economic environment could lead to reduced software spending by businesses, particularly small and medium-sized businesses (SMBs) which form a significant part of Monday.com's customer base. This could impact new customer acquisition and expansion opportunities, slowing overall revenue growth.
- Valuation Concerns Amidst Decelerating Growth: Despite strong past growth, the company's valuation might be considered stretched if its growth rate continues to decelerate, as is common for maturing SaaS companies. This could make the stock vulnerable to market corrections or shifts in investor sentiment away from high-growth, high-multiple tech stocks.
- Potential for Customer Churn in Competitive Landscape: While retention has been strong, the ease of switching between collaboration tools and aggressive offerings from competitors could lead to increased customer churn. This risk is particularly pertinent among smaller clients who may be more price-sensitive or less entrenched in the platform, impacting long-term revenue stability.
Main Competitors:
- Asana, Inc. ($ASAN) (Asana), Directly competes with Monday.com in the work management and project management space, offering similar features for task tracking, workflow automation, and team collaboration. Asana often emphasizes clarity and ease of use for non-technical teams, with a focus on helping teams manage projects and daily tasks effectively.
- Atlassian Corporation Plc ($TEAM) (Jira (Jira Work Management, Jira Software)), While Jira Software is dominant in agile software development, Atlassian's Jira Work Management directly competes with Monday.com by offering project and work management solutions for business teams (marketing, HR, finance, operations). It leverages the extensive Atlassian ecosystem for integrations and scalability, appealing to organizations that may already use other Atlassian products.
- Smartsheet Inc. ($SMAR) (Smartsheet), Competes by providing a spreadsheet-like interface for project management, workflow automation, and collaboration. It appeals to users who prefer a familiar grid-based structure but need advanced features like automation, reporting, and resource management, often for larger enterprises and complex projects that require robust data handling.
- ClickUp (ClickUp), Positions itself as an 'all-in-one' productivity platform, offering a vast array of features for project management, task management, document creation, goal tracking, and more. It competes by providing a highly customizable and feature-rich alternative, often at a competitive price point, appealing to teams looking to consolidate multiple tools into a single platform.
Moat:
Monday.com operates in a highly competitive and fragmented work management software market. Its primary moat lies in its highly visual, intuitive, and customizable 'Work OS' platform, which allows teams across various industries to build and adapt workflows for diverse use cases, from project management to CRM and software development. The platform's ease of use, extensive template library, and robust automation capabilities contribute to its stickiness. However, it faces intense competition from established players offering comprehensive suites, specialized tools, and other 'all-in-one' solutions, all vying for market share by differentiating on features, pricing, UI/UX, and target audience.
Income Statements:
Quarterly
Annual
| Unit: USD | 2025-11-10 | 2025-06-30 | 2025-05-12 | 2025-02-10 | 2024-12-31 | 2024-11-12 | 2024-06-30 | 2024-05-15 | 2024-02-12 | 2023-12-31 | 2023-11-13 | 2023-08-14 | 2023-05-15 | 2023-02-13 | 2022-12-31 | 2022-11-14 | 2022-08-08 | 2022-05-16 | 2022-02-23 | 2021-12-31 | 2021-11-10 | 2021-08-17 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 316,855,000 | 581,264,000 | 282,250,000 | 267,976,000 | 267,976,000 | 251,000,000 | 453,019,000 | 216,913,000 | 202,570,000 | 202,570,000 | 189,190,000 | 175,679,000 | 162,256,000 | 149,921,000 | 149,921,000 | 136,893,000 | 123,718,000 | 108,497,000 | 95,545,000 | 95,545,000 | 83,018,000 | 70,615,000 |
yoy | 18.24% | 131.58% | -37.70% | 23.54% | 32.29% | 23.91% | 139.45% | 23.47% | 24.85% | 35.12% | 26.19% | 28.33% | 31.15% | 38.18% | 56.91% | 43.28% | 49.03% | 53.65% | ||||
qoq | -45.49% | 105.94% | 5.33% | 0.00% | 6.76% | -44.59% | 108.85% | 7.08% | 0.00% | 7.07% | 7.69% | 8.27% | 8.23% | 0.00% | 9.52% | 10.65% | 14.03% | 13.56% | 0.00% | 15.09% | 17.56% | |
cost of revenue | 35,788,000 | 59,978,000 | 28,805,000 | 30,502,000 | 30,502,000 | 25,972,000 | 47,217,000 | 23,454,000 | 22,408,000 | 22,408,000 | 21,707,000 | 19,516,000 | 17,014,000 | 17,359,000 | 17,359,000 | 17,830,000 | 16,730,000 | 14,609,000 | 11,768,000 | 11,768,000 | 10,213,000 | 9,108,000 |
gross profit | 281,067,000 | 521,286,000 | 253,445,000 | 237,474,000 | 237,474,000 | 225,028,000 | 405,802,000 | 193,459,000 | 180,162,000 | 180,162,000 | 167,483,000 | 156,163,000 | 145,242,000 | 132,562,000 | 132,562,000 | 119,063,000 | 106,988,000 | 93,888,000 | 83,777,000 | 83,777,000 | 72,805,000 | 61,507,000 |
yoy | 18.36% | 131.65% | -37.54% | 22.75% | 31.81% | 24.90% | 142.29% | 23.88% | 24.04% | 35.91% | 26.34% | 31.16% | 35.76% | 41.19% | 58.23% | 42.12% | 46.95% | 52.65% | ||||
qoq | -46.08% | 105.68% | 6.73% | 0.00% | 5.53% | -44.55% | 109.76% | 7.38% | 0.00% | 7.57% | 7.25% | 7.52% | 9.57% | 0.00% | 11.34% | 11.29% | 13.95% | 12.07% | 0.00% | 15.07% | 18.37% | |
gross margin % | 88.71% | 89.68% | 89.79% | 88.62% | 88.62% | 89.65% | 89.58% | 89.19% | 88.94% | 88.94% | 88.53% | 88.89% | 89.51% | 88.42% | 88.42% | 86.98% | 86.48% | 86.54% | 87.68% | 87.68% | 87.70% | 87.10% |
operating expenses: | ||||||||||||||||||||||
research and development | 79,453,000 | 156,424,000 | 69,385,000 | 62,332,000 | 62,332,000 | 56,509,000 | 94,868,000 | 44,423,000 | 41,898,000 | 41,898,000 | 38,433,000 | 39,106,000 | 37,063,000 | 32,560,000 | 32,560,000 | 33,984,000 | 33,962,000 | 26,541,000 | 21,959,000 | 21,959,000 | 19,875,000 | 16,271,000 |
sales and marketing | 165,808,000 | 294,310,000 | 141,720,000 | 133,643,000 | 133,643,000 | 140,284,000 | 259,612,000 | 128,141,000 | 114,919,000 | 114,919,000 | 108,360,000 | 107,443,000 | 107,680,000 | 88,385,000 | 88,385,000 | 90,970,000 | 96,740,000 | 115,973,000 | 76,535,000 | 76,535,000 | 67,443,000 | 61,057,000 |
general and administrative | 38,184,000 | 72,307,000 | 32,544,000 | 31,903,000 | 31,903,000 | 55,637,000 | 54,550,000 | 25,917,000 | 24,490,000 | 24,490,000 | 23,211,000 | 21,781,000 | 23,251,000 | 21,717,000 | 21,717,000 | 22,348,000 | 22,466,000 | 18,870,000 | 16,881,000 | 16,881,000 | 14,698,000 | 11,648,000 |
total operating expenses | 283,445,000 | 523,041,000 | 243,649,000 | 227,878,000 | 227,878,000 | 252,430,000 | 409,030,000 | 198,481,000 | 181,307,000 | 181,307,000 | 170,004,000 | 168,330,000 | 167,994,000 | 142,662,000 | 142,662,000 | 147,302,000 | 153,168,000 | 161,384,000 | 115,375,000 | 115,375,000 | 102,016,000 | 88,976,000 |
operating income | -2,378,000 | -1,755,000 | 9,796,000 | 9,596,000 | 9,596,000 | -27,402,000 | -3,228,000 | -5,022,000 | -1,145,000 | -1,145,000 | -2,521,000 | -12,167,000 | -22,752,000 | -10,100,000 | -10,100,000 | -28,239,000 | -46,180,000 | -67,496,000 | -31,598,000 | -31,598,000 | -29,211,000 | -27,469,000 |
yoy | -124.78% | -93.60% | -403.47% | -291.08% | -938.08% | 2293.19% | 28.04% | -58.72% | -94.97% | -88.66% | -75.04% | -56.91% | -50.73% | -85.04% | -68.04% | -10.63% | 58.09% | 145.72% | ||||
qoq | 35.50% | -117.92% | 2.08% | 0.00% | -135.02% | 748.88% | -35.72% | 338.60% | 0.00% | -54.58% | -79.28% | -46.52% | 125.27% | 0.00% | -64.23% | -38.85% | -31.58% | 113.61% | 0.00% | 8.17% | 6.34% | |
operating margin % | -0.75% | -0.30% | 3.47% | 3.58% | 3.58% | -10.92% | -0.71% | -2.32% | -0.57% | -0.57% | -1.33% | -6.93% | -14.02% | -6.74% | -6.74% | -20.63% | -37.33% | -62.21% | -33.07% | -33.07% | -35.19% | -38.90% |
financial income | 15,762,000 | 31,749,000 | 17,647,000 | 12,869,000 | 12,869,000 | 14,942,000 | 27,689,000 | 12,839,000 | 12,861,000 | 7,262,500 | 11,555,000 | 7,612,000 | 9,883,000 | 11,137,000 | 2,854,250 | 6,972,000 | 2,452,000 | 1,993,000 | 147,000 | -359,000 | ||
income before income taxes | 13,384,000 | 29,994,000 | 27,443,000 | 22,465,000 | 22,465,000 | -12,460,000 | 24,461,000 | 7,817,000 | 11,716,000 | 11,716,000 | 9,034,000 | -4,555,000 | -12,869,000 | 1,037,000 | 1,037,000 | -21,267,000 | -43,728,000 | -65,503,000 | -31,451,000 | -31,451,000 | -29,431,000 | -27,828,000 |
income tax benefit | -332,000 | 540,000 | -658,500 | 434,000 | 621,000 | -1,220,250 | -1,763,000 | |||||||||||||||
net income | 13,052,000 | 28,998,000 | 27,425,000 | 23,005,000 | 23,005,000 | -12,026,000 | 21,393,000 | 7,078,000 | 12,337,000 | 12,337,000 | 7,488,000 | -7,035,000 | -14,667,000 | -1,488,000 | -1,488,000 | -23,030,000 | -45,671,000 | -66,678,000 | -32,605,000 | -32,605,000 | -28,846,000 | -28,891,000 |
yoy | -43.26% | -341.13% | 28.20% | 225.02% | 86.47% | -197.48% | 185.70% | -200.61% | -184.11% | -929.10% | -603.23% | -69.45% | -67.89% | -97.77% | -95.44% | -29.37% | 58.33% | 130.79% | ||||
qoq | -54.99% | 5.74% | 19.21% | 0.00% | -291.29% | -156.21% | 202.25% | -42.63% | 0.00% | 64.76% | -206.44% | -52.04% | 885.69% | 0.00% | -93.54% | -49.57% | -31.51% | 104.50% | 0.00% | 13.03% | -0.16% | |
net income margin % | 4.12% | 4.99% | 9.72% | 8.58% | 8.58% | -4.79% | 4.72% | 3.26% | 6.09% | 6.09% | 3.96% | -4.00% | -9.04% | -0.99% | -0.99% | -16.82% | -36.92% | -61.46% | -34.13% | -34.13% | -34.75% | -40.91% |
net income per share | 0.25 | 0.57 | 0.54 | 0.45 | 0.46 | -0.24 | 0.43 | 0.14 | 0.25 | 0.25 | 0.15 | -0.15 | -0.31 | -0.03 | 0.01 | -0.51 | -1.01 | -1.48 | -0.73 | -0.41 | -0.65 | -1.67 |
weighted-average ordinary shares used in calculating net income per ordinary share, basic | 51,687,504 | 51,196,507 | 51,005,188 | 50,604,151 | 49,908,423 | 50,134,930 | 49,442,327 | 49,204,541 | 48,796,294 | 48,536,315 | ||||||||||||
weighted-average ordinary shares used in calculating net income per ordinary share, diluted | 53,264,485 | 53,149,561 | 53,042,479 | 52,942,616 | 52,420,826 | 50,134,930 | 52,106,369 | 52,020,163 | 51,607,542 | 51,461,709 | ||||||||||||
operating expenses | ||||||||||||||||||||||
income tax expense | -996,000 | -3,068,000 | -739,000 | -1,943,000 | -1,063,000 | |||||||||||||||||
income tax | -18,000 | -1,456,000 | -1,546,000 | -2,480,000 | -1,798,000 | -2,525,000 | ||||||||||||||||
monday.com and subsidiaries | ||||||||||||||||||||||
weighted-average ordinary shares used in calculating net loss per ordinary share, basic and diluted | 48,366,378 | 48,209,039 | 47,912,353 | 47,659,154 | 45,804,714 | 45,477,804 | 45,074,912 | 44,978,894 | 44,741,992 | 30,332,006 | 44,267,434 | 19,417,672 | ||||||||||
deemed dividend to preferred shareholders | -2,050,750 | -3,589,000 | ||||||||||||||||||||
net loss attributable to ordinary shareholders | -1,488,000 | -33,844,750 | -23,030,000 | -45,671,000 | -66,678,000 | -32,605,000 | -26,223,000 | -28,846,000 | -32,480,000 | |||||||||||||
taxes on income | -1,175,000 | -1,154,000 | ||||||||||||||||||||
financial expense | 246,250 | 220,000 | ||||||||||||||||||||
income taxes | 294,250 | -585,000 |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2025-11-10 | 2025-09-30 | 2025-06-30 | 2025-05-12 | 2025-03-31 | 2025-02-10 | 2024-12-31 | 2024-11-12 | 2024-09-30 | 2024-06-30 | 2024-05-15 | 2024-03-31 | 2024-02-12 | 2023-12-31 | 2023-11-13 | 2023-09-30 | 2023-08-14 | 2023-06-30 | 2023-05-15 | 2023-03-31 | 2023-02-13 | 2022-12-31 | 2022-11-14 | 2022-09-30 | 2022-08-08 | 2022-06-30 | 2022-05-16 | 2022-03-31 | 2022-02-23 | 2021-12-31 | 2021-11-10 | 2021-09-30 | 2021-08-17 | 2021-06-30 |
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assets | ||||||||||||||||||||||||||||||||||
current assets: | ||||||||||||||||||||||||||||||||||
cash and cash equivalents | 1,527,246,000 | 1,527,246,000 | 1,590,515,000 | 1,527,605,000 | 1,527,605,000 | 1,411,602,000 | 1,411,602,000 | 1,337,155,000 | 1,337,155,000 | 1,290,242,000 | 1,224,544,000 | 1,224,544,000 | 1,116,128,000 | 1,116,128,000 | 1,054,270,000 | 1,054,270,000 | 989,377,000 | 989,377,000 | 935,565,000 | 935,565,000 | 885,894,000 | 885,894,000 | 852,568,000 | 852,568,000 | 834,620,000 | 834,620,000 | 849,576,000 | 849,576,000 | 886,812,000 | 886,812,000 | 876,220,000 | 876,220,000 | 865,328,000 | 865,328,000 |
marketable securities | 211,740,000 | 211,740,000 | 60,102,000 | 60,730,000 | 60,730,000 | 50,004,000 | 50,004,000 | 50,667,000 | 50,667,000 | |||||||||||||||||||||||||
accounts receivable | 32,711,000 | 32,711,000 | 26,436,000 | 26,436,000 | 25,804,000 | 20,630,000 | 20,630,000 | 18,310,000 | 18,310,000 | 17,911,000 | 13,806,000 | 13,806,000 | 15,136,000 | 15,136,000 | 18,986,000 | 18,986,000 | 13,226,000 | 14,466,000 | 14,466,000 | 9,510,000 | 9,510,000 | 9,894,000 | 9,894,000 | 8,509,000 | 6,958,000 | 6,958,000 | 4,364,000 | 4,364,000 | ||||||
prepaid expenses and other current assets | 89,137,000 | 89,137,000 | 87,237,000 | 50,420,000 | 50,420,000 | 44,836,000 | 44,836,000 | 46,902,000 | 46,902,000 | 56,181,000 | 48,998,000 | 48,998,000 | 39,103,000 | 39,103,000 | 27,909,000 | 27,909,000 | 27,398,000 | 27,398,000 | 28,820,000 | 28,820,000 | 24,725,000 | 24,725,000 | 22,510,000 | 22,510,000 | 24,314,000 | 24,314,000 | 15,676,000 | 15,676,000 | 18,172,000 | 18,172,000 | 15,402,000 | 15,402,000 | 6,901,000 | 6,901,000 |
total current assets | 1,860,834,000 | 1,860,834,000 | 1,774,050,000 | 1,665,191,000 | 1,665,191,000 | 1,532,246,000 | 1,532,246,000 | 1,455,354,000 | 1,455,354,000 | 1,366,025,000 | 1,291,852,000 | 1,291,852,000 | 1,173,142,000 | 1,173,142,000 | 1,095,985,000 | 1,095,985,000 | 1,031,911,000 | 1,031,911,000 | 983,371,000 | 983,371,000 | 923,845,000 | 923,845,000 | 889,544,000 | 889,544,000 | 868,444,000 | 868,444,000 | 875,146,000 | 875,146,000 | 913,493,000 | 913,493,000 | 898,580,000 | 898,580,000 | 886,644,000 | 886,644,000 |
long-term assets: | ||||||||||||||||||||||||||||||||||
property and equipment | 49,149,000 | 49,149,000 | 47,232,000 | 43,233,000 | 43,233,000 | 41,576,000 | 41,576,000 | 41,241,000 | 41,241,000 | 39,326,000 | 37,502,000 | 37,502,000 | 37,418,000 | 37,418,000 | 36,456,000 | 36,456,000 | 36,481,000 | 36,481,000 | 36,766,000 | 36,766,000 | 34,416,000 | 34,416,000 | 31,645,000 | 31,645,000 | 26,694,000 | 26,694,000 | 22,583,000 | 22,583,000 | 19,599,000 | 19,599,000 | 18,490,000 | 18,490,000 | 13,905,000 | 13,905,000 |
operating lease right-of-use assets | 103,272,000 | 103,272,000 | 109,612,000 | 114,146,000 | 114,146,000 | 94,703,000 | 94,703,000 | 83,811,000 | 83,811,000 | 60,910,000 | 58,740,000 | 58,740,000 | 62,280,000 | 62,280,000 | 67,352,000 | 67,352,000 | 71,872,000 | 71,872,000 | 76,865,000 | 76,865,000 | 80,197,000 | 80,197,000 | 88,710,000 | 88,710,000 | 64,456,000 | 64,456,000 | 62,144,000 | 62,144,000 | ||||||
other long-term assets | 45,293,000 | 45,293,000 | 33,077,000 | 23,704,000 | 23,704,000 | 16,983,000 | 16,983,000 | 4,704,000 | 4,704,000 | 3,937,000 | 2,670,000 | 2,670,000 | 2,816,000 | 2,816,000 | 615,000 | 615,000 | 574,000 | 574,000 | 564,000 | 564,000 | 585,000 | 585,000 | 176,000 | 176,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 100,000 | 132,000 | 132,000 | 2,100,000 | 2,100,000 |
total long-term assets | 197,714,000 | 197,714,000 | 189,921,000 | 181,083,000 | 181,083,000 | 153,262,000 | 153,262,000 | 129,756,000 | 129,756,000 | 98,912,000 | 98,912,000 | 102,514,000 | 104,423,000 | 104,423,000 | 108,927,000 | 108,927,000 | 114,195,000 | 114,195,000 | 115,198,000 | 120,531,000 | 120,531,000 | 91,250,000 | 91,250,000 | 84,827,000 | 84,827,000 | |||||||||
total assets | 2,058,548,000 | 2,058,548,000 | 1,963,971,000 | 1,846,274,000 | 1,846,274,000 | 1,685,508,000 | 1,685,508,000 | 1,585,110,000 | 1,585,110,000 | 1,470,198,000 | 1,390,764,000 | 1,390,764,000 | 1,275,656,000 | 1,275,656,000 | 1,200,408,000 | 1,200,408,000 | 1,140,838,000 | 1,140,838,000 | 1,097,566,000 | 1,097,566,000 | 1,039,043,000 | 1,039,043,000 | 1,010,075,000 | 1,010,075,000 | 959,694,000 | 959,694,000 | 959,973,000 | 959,973,000 | 933,192,000 | 933,192,000 | 917,202,000 | 917,202,000 | 902,649,000 | 902,649,000 |
liabilities and shareholders' equity | ||||||||||||||||||||||||||||||||||
current liabilities: | ||||||||||||||||||||||||||||||||||
accounts payable | 45,347,000 | 45,347,000 | 41,859,000 | 31,863,000 | 31,863,000 | 35,611,000 | 35,611,000 | 34,961,000 | 34,961,000 | 46,293,000 | 37,172,000 | 37,172,000 | 24,837,000 | 24,837,000 | 16,087,000 | 16,087,000 | 10,837,000 | 10,837,000 | 11,179,000 | 11,179,000 | 7,335,000 | 7,335,000 | 6,827,000 | 6,827,000 | 10,917,000 | 10,917,000 | 17,632,000 | 17,632,000 | 23,612,000 | 23,612,000 | 22,371,000 | 22,371,000 | 25,325,000 | 25,325,000 |
accrued expenses and other current liabilities | 218,296,000 | 218,296,000 | 198,429,000 | 203,937,000 | 203,937,000 | 171,040,000 | 171,040,000 | 155,415,000 | 155,415,000 | 137,216,000 | 134,678,000 | 134,678,000 | 106,691,000 | 106,691,000 | 96,507,000 | 96,507,000 | 89,741,000 | 89,741,000 | 85,017,000 | 85,017,000 | 73,706,000 | 73,706,000 | 75,957,000 | 75,957,000 | 68,238,000 | 68,238,000 | 55,238,000 | 55,238,000 | 70,135,000 | 70,135,000 | 64,456,000 | 64,456,000 | 34,529,000 | 34,529,000 |
deferred revenue, current | 406,231,000 | 406,231,000 | 402,794,000 | 384,031,000 | 384,031,000 | 339,951,000 | 330,053,000 | 330,053,000 | 317,069,000 | 302,481,000 | 302,481,000 | 266,284,000 | 257,629,000 | 257,629,000 | 246,610,000 | 246,610,000 | 229,064,000 | 229,064,000 | ||||||||||||||||
operating lease liabilities, current | 27,224,000 | 27,224,000 | 29,828,000 | 29,343,000 | 29,343,000 | 29,013,000 | 29,013,000 | 25,637,000 | 25,637,000 | 19,510,000 | 18,853,000 | 18,853,000 | 18,201,000 | 18,201,000 | 18,455,000 | 18,455,000 | 18,952,000 | 18,952,000 | 19,625,000 | 19,625,000 | 19,083,000 | 19,083,000 | 16,874,000 | 16,874,000 | 10,885,000 | 10,885,000 | 10,731,000 | 10,731,000 | ||||||
total current liabilities | 697,098,000 | 697,098,000 | 672,910,000 | 649,174,000 | 649,174,000 | 575,615,000 | 575,615,000 | 546,066,000 | 546,066,000 | 520,088,000 | 493,184,000 | 493,184,000 | 416,013,000 | 416,013,000 | 388,678,000 | 388,678,000 | 366,140,000 | 366,140,000 | 344,885,000 | 344,885,000 | 298,223,000 | 298,223,000 | 289,043,000 | 289,043,000 | 267,922,000 | 267,922,000 | 244,531,000 | 244,531,000 | 228,185,000 | 228,185,000 | 204,001,000 | 204,001,000 | 182,812,000 | 182,812,000 |
long-term liabilities: | ||||||||||||||||||||||||||||||||||
operating lease liabilities, non-current | 92,050,000 | 92,050,000 | 96,384,000 | 93,197,000 | 93,197,000 | 77,023,000 | 77,023,000 | 65,440,000 | 65,440,000 | 37,335,000 | 39,035,000 | 39,035,000 | 42,946,000 | 42,946,000 | 45,455,000 | 45,455,000 | 50,396,000 | 50,396,000 | 55,058,000 | 55,058,000 | 58,638,000 | 58,638,000 | 67,148,000 | 67,148,000 | 47,703,000 | 47,703,000 | 51,103,000 | 51,103,000 | ||||||
deferred revenue, non-current | 2,179,000 | 2,179,000 | 2,299,000 | 2,660,000 | 2,660,000 | 2,639,000 | 2,639,000 | 2,487,000 | 2,487,000 | 2,653,000 | 2,696,000 | 2,696,000 | 3,189,000 | 3,189,000 | 3,854,000 | 3,854,000 | 3,046,000 | 3,046,000 | 2,443,000 | 2,443,000 | 2,442,000 | 2,442,000 | ||||||||||||
total long-term liabilities | 94,229,000 | 94,229,000 | 98,683,000 | 95,857,000 | 95,857,000 | 79,662,000 | 67,927,000 | 67,927,000 | 41,731,000 | 41,731,000 | 46,135,000 | 49,309,000 | 49,309,000 | 53,442,000 | 53,442,000 | 57,501,000 | 57,501,000 | 61,080,000 | 69,531,000 | 69,531,000 | 49,742,000 | 49,742,000 | 52,860,000 | 52,860,000 | ||||||||||
total liabilities | 791,327,000 | 791,327,000 | 771,593,000 | 745,031,000 | 745,031,000 | 655,277,000 | 655,277,000 | 613,993,000 | 613,993,000 | 560,076,000 | 534,915,000 | 534,915,000 | 462,148,000 | 462,148,000 | 437,987,000 | 437,987,000 | 419,582,000 | 419,582,000 | 402,386,000 | 402,386,000 | 359,303,000 | 359,303,000 | 358,574,000 | 358,574,000 | 317,664,000 | 317,664,000 | 297,391,000 | 297,391,000 | 229,797,000 | 229,797,000 | 205,386,000 | 205,386,000 | 184,056,000 | 184,056,000 |
shareholders' equity: | ||||||||||||||||||||||||||||||||||
other comprehensive income | 21,193,000 | 21,193,000 | -2,273,000 | -2,273,000 | 3,189,000 | 2,605,000 | 2,605,000 | 6,468,000 | 6,468,000 | 9,804,000 | -3,210,000 | -6,338,000 | -6,338,000 | -6,749,000 | -6,749,000 | 807,000 | 807,000 | 594,000 | 45,000 | 45,000 | ||||||||||||||
share capital and additional paid-in capital | 1,756,010,000 | 1,756,010,000 | 1,628,123,000 | 1,628,123,000 | 1,579,074,000 | 1,543,549,000 | 1,543,549,000 | 1,426,707,000 | 1,426,707,000 | 1,388,108,000 | 1,361,682,000 | 1,361,682,000 | 1,327,596,000 | 1,327,596,000 | 1,295,408,000 | 1,295,408,000 | 1,265,477,000 | 1,238,878,000 | 1,238,878,000 | 1,206,788,000 | 1,206,788,000 | 1,174,113,000 | 1,174,113,000 | 1,148,461,000 | 1,124,826,000 | 1,124,826,000 | 1,102,802,000 | 1,102,802,000 | ||||||
accumulated deficit | -509,982,000 | -509,982,000 | -523,034,000 | -524,607,000 | -524,607,000 | -552,032,000 | -552,032,000 | -575,037,000 | -575,037,000 | -563,011,000 | -577,326,000 | -577,326,000 | -584,404,000 | -584,404,000 | -596,741,000 | -596,741,000 | -604,229,000 | -604,229,000 | -597,194,000 | -597,194,000 | -582,527,000 | -582,527,000 | -581,039,000 | -581,039,000 | -558,009,000 | -558,009,000 | -512,338,000 | -512,338,000 | -445,660,000 | -445,660,000 | -413,055,000 | -413,055,000 | -384,209,000 | -384,209,000 |
total shareholders’ equity | 1,267,221,000 | 1,267,221,000 | 1,192,378,000 | 1,101,243,000 | 1,101,243,000 | 1,030,231,000 | 1,030,231,000 | 971,117,000 | 971,117,000 | 910,122,000 | 855,849,000 | 855,849,000 | 813,508,000 | 813,508,000 | 762,421,000 | 762,421,000 | 721,256,000 | 721,256,000 | 695,180,000 | 695,180,000 | 679,740,000 | 679,740,000 | 651,501,000 | 651,501,000 | 642,030,000 | 642,030,000 | 662,582,000 | 662,582,000 | 703,395,000 | 703,395,000 | 711,816,000 | 711,816,000 | ||
total liabilities and shareholders’ equity | 2,058,548,000 | 2,058,548,000 | 1,963,971,000 | 1,846,274,000 | 1,846,274,000 | 1,685,508,000 | 1,585,110,000 | 1,585,110,000 | 1,470,198,000 | 1,390,764,000 | 1,390,764,000 | 1,275,656,000 | 1,200,408,000 | 1,200,408,000 | 1,140,838,000 | 1,140,838,000 | 1,097,566,000 | 1,097,566,000 | 1,039,043,000 | 1,010,075,000 | 1,010,075,000 | 959,694,000 | 959,694,000 | 959,973,000 | 959,973,000 | |||||||||
accounts receivable - net of allowance for credit losses of 354 and 296 as of june 30, 2025 (unaudited) and december 31, 2024, respectively | 36,196,000 | |||||||||||||||||||||||||||||||||
commitments and contingencies | ||||||||||||||||||||||||||||||||||
ordinary shares, no par value – authorized: 99,999,999 shares as of june 30, 2025 (unaudited) and december 31, 2024; issued and outstanding: 51,551,462 and 50,773,337 as of june 30, 2025 (unaudited) and december 31,2024, respectively | ||||||||||||||||||||||||||||||||||
founders’ shares no par value: authorized: 1 share as of june 30, 2025 (unaudited), and december 31, 2024; issued and outstanding: 1 share as of june 30,2025 (unaudited), and december 31, 2024 | ||||||||||||||||||||||||||||||||||
additional paid-in capital | 1,692,428,000 | 1,579,074,000 | 1,470,476,000 | 1,388,108,000 | 1,265,477,000 | 1,148,461,000 | ||||||||||||||||||||||||||||
accumulated other comprehensive income | 22,984,000 | 3,189,000 | 2,657,000 | 9,804,000 | -3,210,000 | 594,000 | ||||||||||||||||||||||||||||
long-term liabilities | ||||||||||||||||||||||||||||||||||
accounts receivable - net of allowance for credit losses of 296 and 318 as of december 31, 2024, and 2023, respectively | 25,804,000 | |||||||||||||||||||||||||||||||||
liabilities and shareholders’ equity | ||||||||||||||||||||||||||||||||||
deferred revenue | 339,951,000 | 266,284,000 | 198,099,000 | 198,099,000 | 189,385,000 | 189,385,000 | 177,882,000 | 177,882,000 | 160,930,000 | 160,930,000 | 134,438,000 | 134,438,000 | 117,174,000 | 117,174,000 | 101,923,000 | 101,923,000 | ||||||||||||||||||
shareholders’ equity: | ||||||||||||||||||||||||||||||||||
ordinary shares, no par value – authorized: 99,999,999 as of december 31, 2024, and 2023; issued and outstanding: 50,773,337 and 48,923,903 as of december 31, 2024, and 2023, respectively | ||||||||||||||||||||||||||||||||||
founders’ shares, no par value: authorized: 1 share as of december 31, 2024, and 2023; issued and outstanding: 1 share as of december 31, 2024, and 2023 | ||||||||||||||||||||||||||||||||||
total liabilities, and shareholders’ equity | 1,685,508,000 | 1,275,656,000 | 1,039,043,000 | |||||||||||||||||||||||||||||||
accounts receivable - net of allowance for credit losses of 312 and 318 as of june 30, 2024 (unaudited) and december 31, 2023, respectively | 19,602,000 | |||||||||||||||||||||||||||||||||
ordinary shares, no par value – authorized: 99,999,999 shares as of june 30, 2024 (unaudited) and december 31, 2023; issued and outstanding: 49,858,787 and 48,923,903 as of june 30, 2024 (unaudited) and december 31,2023, respectively | ||||||||||||||||||||||||||||||||||
founders’ shares no par value: authorized: 1 share as of june 30, 2024 (unaudited), and december 31, 2023; issued and outstanding: 1 share as of june 30,2024 (unaudited), and december 31, 2023 | ||||||||||||||||||||||||||||||||||
monday.com and subsidiaries | ||||||||||||||||||||||||||||||||||
accounts receivable - net of allowance for credit losses of 318 and 408, as of december 31, 2023, and 2022, respectively | 17,911,000 | |||||||||||||||||||||||||||||||||
ordinary shares, no par value - authorized: 99,999,999 as of december 31, 2023, and 2022; issued and outstanding: 48,923,903 and 47,737,868 as of december 31, 2023, and 2022 respectively | ||||||||||||||||||||||||||||||||||
founders’ shares, no par value: authorized: 1 share as of december 31, 2023, and 2022; issued and outstanding: 1 share as of december 31, 2023, and 2022 | ||||||||||||||||||||||||||||||||||
other comprehensive loss | -2,520,000 | -2,520,000 | -2,111,000 | -2,111,000 | -3,034,000 | -3,034,000 | ||||||||||||||||||||||||||||
long term-assets: | ||||||||||||||||||||||||||||||||||
accounts receivable - net of allowance for doubtful accounts of 408 and 249, as of december 31, 2022, and 2021, respectively | 13,226,000 | |||||||||||||||||||||||||||||||||
ordinary shares, no par value – authorized: 99,999,999 as of december 31, 2022, and 2021; issued and outstanding: 47,737,868 and 44,924,039 as of december 31, 2022, and 2021 respectively | ||||||||||||||||||||||||||||||||||
founders’ shares, no par value: authorized: 1 share as of december 31, 2022, and 2021; issued and outstanding: 1 share as of december 31, 2022, and 2021 | ||||||||||||||||||||||||||||||||||
other non-current liabilities | 2,383,000 | 2,383,000 | 2,039,000 | 2,039,000 | 1,757,000 | 1,757,000 | ||||||||||||||||||||||||||||
liabilities and shareholders' (deficit) equity | ||||||||||||||||||||||||||||||||||
short term deposits | 10,051,000 | 10,051,000 | ||||||||||||||||||||||||||||||||
liabilities, convertible preferred shares and shareholders' (deficit) equity | ||||||||||||||||||||||||||||||||||
revolving credit facility | 21,035,000 | 21,035,000 | ||||||||||||||||||||||||||||||||
other long-term liabilities | 1,612,000 | 1,612,000 | 1,385,000 | 1,385,000 | 1,244,000 | 1,244,000 | ||||||||||||||||||||||||||||
convertible preferred shares | ||||||||||||||||||||||||||||||||||
shareholders' (deficit) equity: | ||||||||||||||||||||||||||||||||||
total liabilities, convertible preferred shares, and shareholders’ equity | 933,192,000 | 933,192,000 | 917,202,000 | 917,202,000 | ||||||||||||||||||||||||||||||
accounts receivable - net of allowance for doubtful accounts of 249, and 264 as of december 31, 2021 and 2020, respectively | 8,509,000 | |||||||||||||||||||||||||||||||||
convertible preferred shares: | ||||||||||||||||||||||||||||||||||
preferred shares, no par value – authorized: no shares as of december 31, 2021 and 27,056,939 shares as of december 31, 2020; issued and outstanding: no shares as of december 31, 2021 and 26,440,239 as of december 31, 2020; | ||||||||||||||||||||||||||||||||||
shareholders' equity | ||||||||||||||||||||||||||||||||||
ordinary shares, no par value – authorized: 99,999,999 and 52,943,061 shares as of december 31, 2021 and 2020, respectively; issued and outstanding: 44,924,038 and 12,354,471 as of december 31, 2021 and 2020 respectively | ||||||||||||||||||||||||||||||||||
founders shares, no par value: authorized: 1 share as of december 31, 2021, and no shares as of december 31, 2020. issued and outstanding: 1 share as of december 31, 2021 and no shares as of december 31, 2020. | ||||||||||||||||||||||||||||||||||
total shareholders’ deficit | 718,593,000 | 718,593,000 | ||||||||||||||||||||||||||||||||
total liabilities, convertible preferred shares, and shareholders’ deficit | 902,649,000 | 902,649,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2025-09-30 | 2025-06-30 | 2025-05-12 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-05-15 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-05-15 | 2022-12-31 | 2022-08-08 | 2022-05-16 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
cash flows from operating activities: | ||||||||||||||||
net income | -15,946,000 | 1,573,000 | 27,425,000 | 27,425,000 | 44,398,000 | -33,419,000 | 14,315,000 | 7,078,000 | 7,078,000 | |||||||
adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||||
depreciation and amortization | -3,125,000 | 3,375,000 | 3,250,000 | 3,250,000 | 8,653,000 | -2,248,000 | 2,920,000 | 2,533,000 | 2,533,000 | 6,692,000 | 167,000 | 1,972,000 | 5,707,000 | 1,127,000 | 182,000 | |
share-based compensation | -37,741,000 | 56,645,000 | 30,958,000 | 30,958,000 | 93,835,000 | -27,792,000 | 36,623,000 | 26,543,000 | 26,543,000 | 73,588,000 | -2,186,000 | 22,459,000 | 78,866,000 | 23,666,000 | 2,204,000 | |
share-based compensation granted to foundation | ||||||||||||||||
amortization of discount and accretion of interest on marketable securities | -1,888,000 | 580,000 | -675,000 | -675,000 | 420,000 | |||||||||||
changes in operating assets and liabilities: | ||||||||||||||||
accounts receivable | 13,877,000 | -9,760,000 | -632,000 | -632,000 | -6,865,000 | 663,000 | -1,292,000 | -399,000 | -399,000 | -6,015,000 | -2,520,000 | -5,760,000 | 239,000 | -1,385,000 | -3,127,000 | |
prepaid expenses and other assets | 16,960,000 | -16,987,000 | -9,770,000 | -9,770,000 | -6,773,000 | 38,252,000 | -17,306,000 | 2,107,000 | 2,107,000 | 7,502,000 | -1,811,000 | -162,000 | 852,000 | 4,700,000 | -8,545,000 | |
accounts payable | -2,736,000 | 10,068,000 | -3,844,000 | -3,844,000 | 22,461,000 | -33,723,000 | 9,625,000 | 12,043,000 | 12,043,000 | 12,243,000 | 5,374,000 | 3,816,000 | -11,946,000 | -6,176,000 | 882,000 | |
accrued expenses and other liabilities | 6,122,000 | 2,941,000 | 21,157,000 | 21,157,000 | 7,456,000 | 17,293,000 | -3,636,000 | 6,346,000 | 6,346,000 | 7,075,000 | 11,765,000 | 4,104,000 | -5,761,000 | 5,342,000 | 11,492,000 | |
deferred revenue | -59,186,000 | 18,402,000 | 44,101,000 | 44,101,000 | 60,299,000 | -37,431,000 | 14,545,000 | 35,704,000 | 35,704,000 | 57,105,000 | -6,322,000 | 30,966,000 | 52,988,000 | 26,492,000 | 1,031,000 | |
net cash from operating activities | -83,663,000 | 66,837,000 | 111,970,000 | 111,970,000 | 224,460,000 | -61,144,000 | 55,794,000 | 91,955,000 | 91,955,000 | 148,825,000 | 18,990,000 | 42,728,000 | 7,108,000 | -12,912,000 | 4,148,000 | |
capital expenditures | 6,349,000 | -6,808,000 | -4,466,000 | -4,466,000 | -11,042,000 | 2,841,000 | -4,973,000 | -2,061,000 | -2,061,000 | -8,770,000 | -32,000 | -4,046,000 | -12,930,000 | -3,280,000 | -1,537,000 | |
free cash flows | -77,314,000 | 60,029,000 | 107,504,000 | 107,504,000 | 213,418,000 | -58,303,000 | 50,821,000 | 89,894,000 | 89,894,000 | 140,055,000 | 18,958,000 | 38,682,000 | -5,822,000 | -16,192,000 | 2,611,000 | |
cash flows from investing activities: | ||||||||||||||||
purchase of property and equipment | 5,587,000 | -5,884,000 | -3,687,000 | -3,687,000 | -9,411,000 | 2,164,000 | -4,504,000 | -1,460,000 | -1,460,000 | -7,122,000 | 344,000 | -3,561,000 | -10,664,000 | -2,354,000 | -1,665,000 | |
purchase of marketable securities | -139,481,000 | 0 | -10,049,000 | -10,049,000 | 0 | |||||||||||
capitalized software development costs | 762,000 | -924,000 | -779,000 | -779,000 | -1,631,000 | 677,000 | -469,000 | -601,000 | -601,000 | -1,648,000 | -376,000 | -485,000 | -2,266,000 | -926,000 | 128,000 | |
net cash from investing activities | -133,132,000 | -6,808,000 | -14,515,000 | -14,515,000 | -17,042,000 | -46,729,000 | -4,973,000 | -2,061,000 | -2,061,000 | -8,770,000 | -32,000 | -4,046,000 | -12,930,000 | -3,280,000 | 8,568,000 | |
cash flows from financing activities: | ||||||||||||||||
proceeds from exercise of share options and employee share purchase plan | -18,456,000 | 12,365,000 | 14,136,000 | 14,136,000 | 27,992,000 | -3,975,000 | 10,616,000 | 8,708,000 | 8,708,000 | 16,892,000 | -916,000 | 5,086,000 | 8,609,000 | |||
receipt (repayment) of tax advance relating to exercises of share options and rsus | 13,151,000 | -6,961,000 | 5,903,000 | |||||||||||||
net cash from financing activities | -25,387,000 | 2,881,000 | 18,548,000 | 18,548,000 | 41,143,000 | -19,328,000 | 14,877,000 | 18,522,000 | 18,522,000 | 25,286,000 | -7,877,000 | 10,989,000 | -13,044,000 | 25,383,000 | -21,044,000 | -745,471,000 |
increase in cash, and cash equivalents | -242,182,000 | 62,910,000 | 116,003,000 | 116,003,000 | -127,201,000 | 65,698,000 | 108,416,000 | 108,416,000 | 11,081,000 | |||||||
cash and cash equivalents - beginning of period | 178,913,000 | 0 | 1,411,602,000 | 1,411,602,000 | 174,114,000 | 0 | 1,116,128,000 | 1,116,128,000 | 53,812,000 | |||||||
cash and cash equivalents - end of period | -63,269,000 | 62,910,000 | 1,527,605,000 | 1,527,605,000 | 46,913,000 | 65,698,000 | 1,224,544,000 | 1,224,544,000 | 64,893,000 | |||||||
adjustments to reconcile net income to net cash from operating activities: | ||||||||||||||||
receipt (repayment)of tax advance relating to exercises of share options and rsus | ||||||||||||||||
non-cash investing and financing activities: | ||||||||||||||||
non-cash purchases of property and equipment | ||||||||||||||||
capitalized share-based compensation costs | ||||||||||||||||
right-of-use asset recognized with corresponding lease liability | ||||||||||||||||
receipt of tax advance relating to exercises of share options and rsus | 4,412,000 | 4,412,000 | 4,261,000 | 9,814,000 | 9,814,000 | |||||||||||
loss from sale of property and equipment | ||||||||||||||||
charitable share contribution to foundation | ||||||||||||||||
investment in affiliated company | ||||||||||||||||
adjustments to reconcile net income to cash from operating activities: | ||||||||||||||||
investments in affiliated company | ||||||||||||||||
capital lease payments | -66,000 | -21,000 | -11,000 | -2,000 | ||||||||||||
increase in cash, cash equivalents | ||||||||||||||||
cash, cash equivalents – beginning of year | ||||||||||||||||
cash, cash equivalents – end of year | ||||||||||||||||
supplemental disclosure: | ||||||||||||||||
cash paid for taxes | ||||||||||||||||
cash paid for interest | ||||||||||||||||
● | ||||||||||||||||
monday.com and subsidiaries | ||||||||||||||||
net loss | -14,667,000 | -113,837,000 | -66,678,000 | |||||||||||||
adjustments to reconcile net loss to cash from operating activities: | ||||||||||||||||
capital loss from sale of property and equipment | ||||||||||||||||
change in accrued interest on revolving credit facility | -33,000 | |||||||||||||||
proceeds from sale of property and equipment | ||||||||||||||||
changes in short-term deposits | 10,102,000 | |||||||||||||||
cash flows from financing activities | ||||||||||||||||
proceeds from initial public offering and concurrent private placement, net of underwriting discounts and other issuance costs | -736,391,000 | |||||||||||||||
receipt (payment) of tax advance relating to exercises of share options and restricted share units | ||||||||||||||||
repayment of revolving credit facility | ||||||||||||||||
cash, cash equivalents - beginning of year | ||||||||||||||||
cash, cash equivalents - end of year | ||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | ||||||||||||||||
increase in cash, cash equivalents and restricted cash | 49,671,000 | -18,866,000 | -732,755,000 | |||||||||||||
cash, cash equivalents and restricted cash – beginning of period | 885,894,000 | |||||||||||||||
cash, cash equivalents and restricted cash – end of period | 935,565,000 | |||||||||||||||
reconciliation of cash, cash equivalents and restricted cash to the consolidated balance sheet: | ||||||||||||||||
cash and cash equivalents | 935,565,000 | 33,326,000 | -14,956,000 | 849,576,000 | 10,892,000 | |||||||||||
total cash, cash equivalents, and restricted cash | 935,565,000 | 33,326,000 | -14,956,000 | 849,576,000 | 8,292,000 | |||||||||||
cash, cash equivalents and restricted cash - beginning of period | -37,236,000 | 886,812,000 | 741,047,000 | |||||||||||||
cash, cash equivalents and restricted cash - end of period | -14,956,000 | 849,576,000 | 8,292,000 | |||||||||||||
receipt (payment) of tax advance relating to exercises of share options and rsus | ||||||||||||||||
receipt (repayment) of revolving credit facility, net of payments | ||||||||||||||||
cash, cash equivalents and restricted cash – beginning of year | ||||||||||||||||
cash, cash equivalents and restricted cash – end of year | ||||||||||||||||
unpaid deferred offering costs | ||||||||||||||||
share-based compensation included in capitalized software development costs | ||||||||||||||||
restricted cash – included in other long-term assets | ||||||||||||||||
receipt of tax advance relating to exercises of share options | 11,477,000 | |||||||||||||||
restricted cash – included in prepaid expense and other current assets | ||||||||||||||||
payments in connection with deferred offering costs | ||||||||||||||||
proceeds from exercise of share options | 1,351,000 | 445,000 | ||||||||||||||
receipt (repayment) of tax advance relating to exercises of share options | -22,384,000 | |||||||||||||||
decrease in cash, cash equivalents and restricted cash | -37,236,000 | |||||||||||||||
receipt (repayment) of revolving credit facility | ||||||||||||||||
proceeds from issuance of preferred shares | ||||||||||||||||
additions to capital leases | ||||||||||||||||
capital income from sale of property and equipment | ||||||||||||||||
receipt of revolving credit facility, net of payments | ||||||||||||||||
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