Connect with us

World News

Monday.com shows it’s possible to post great results even in a slow market on August 14, 2023 at 6:52 pm

Published

on

Monday.com is continuing its streak of quick growth following its IPO.

In addition to reporting a 42% rise in its revenue for the second quarter of 2023, the cloud-based platform that lets users create apps narrowed its operating loss and net loss, and improved its cash generation, too. Investors seem to like the progress, with its stock up by nearly 15% this morning.

Notably, however, Monday.com is enduring the same sort of slowdown in net retention growth that we are seeing at many software companies. As a reminder, software-as-a-service (SaaS) companies grow by selling their products to new customers, and by selling more products to existing customers. Monday.com, which charges on a per-seat basis, is one such company.

The Exchange explores startups, markets and money.

Advertisement

Read it every morning on TechCrunch+ or get The Exchange newsletter every Saturday.

Slower growth of net retention, a metric which includes existing customer churn and upsells, means it can be harder to increase your revenue and make it costlier to do so, as it is more expensive to sell to new customers than to juice existing accounts for more seats.

The slowdown we’ve seen in net retention comes at a difficult time for many tech companies, looking to conserve cash while keeping growth warm. Startups, doubly so. So how did Monday.com delight investors while also seeing its net retention moderate? Let’s find out.

It’s not as bad as it looks

Monday.com reported revenue of $175.7 million in Q2 2023, but narrowed its operating loss to $12.2 million from $46.2 million a year ago. The company also managed to dramatically narrow its net loss to $0.15 per share from $1.01 per share.

Advertisement

Excluding one-time costs, Monday.com reported adjusted operating income of $16.6 million, far better than $15.4 million a year earlier.

The company also made impressive strides in improving its cash flows. In the company’s own words:

​ Monday.com is continuing its streak of quick growth following its IPO. In addition to reporting a 42% rise in its revenue for the second quarter of 2023, the cloud-based platform that lets users create apps narrowed its operating loss and net loss, and improved its cash generation, too. Investors seem to like the progress, with 

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Terror Attacks in New Orleans and Las Vegas Linked

Published

on

The start of 2025 has been marred by two horrific terror attacks in the United States, one in New Orleans and another in Las Vegas, both occurring on New Year’s Day. These incidents have left communities reeling and have raised concerns about potential connections between the suspects involved.

In New Orleans, a truck driven by 42-year-old Shamsud-Din Jabbar plowed into a crowd celebrating on Bourbon Street, resulting in at least 15 deaths and over 30 injuries. Eyewitnesses reported that Jabbar, a U.S. Army veteran from Texas, deliberately targeted pedestrians while flying an ISIS flag from his vehicle. Following the attack, he exited the truck armed with an assault rifle and opened fire on police officers before being killed in the ensuing confrontation. Authorities discovered improvised explosive devices (IEDs) within his vehicle and in the vicinity of the attack site, further confirming the premeditated nature of this act of terrorism.

Advertisement

Simultaneously, a separate incident unfolded in Las Vegas when a Tesla Cybertruck exploded outside the Trump International Hotel. The driver, identified as Matthew Livelsberger, also had a military background and was reported to have detonated the vehicle packed with firework mortars and fuel, resulting in his death and injuring seven others. Investigators are exploring whether Livelsberger and Jabbar had any prior connection, as both men served at the same military base at different times.

While the FBI has confirmed that they are investigating both attacks as acts of terrorism, they have not established a definitive link between the two incidents. However, similarities in their execution—both suspects rented vehicles from the same company—have prompted further scrutiny into their backgrounds and any potential accomplices.

As investigations continue, authorities are urging anyone with information about either suspect to come forward. The tragic events have sparked discussions about security measures in public spaces, particularly as cities prepare for large gatherings in the coming months.

Your support keeps us going!
Every purchase helps us do what we love. Thank you!

Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters, filmmakers and actors. Our services now include acting classes. Additionally, we are introducing film reviews by experienced critics and professional press article writing covering industry news and trends. Whether you’re looking to craft compelling stories, enhance your acting skills, or gain insights into the film industry, our resources will equip you to thrive in this competitive field. Join us today to unlock your creative potential and bring your artistic vision to life!

Advertisement
Continue Reading

Politics

Donald Trump Named TIME’s 2024 Person of the Year

Published

on

Donald Trump has been selected as TIME magazine’s Person of the Year for 2024, marking his second time receiving this distinction. The former president, who won a historic comeback victory in the 2024 election, was chosen for his significant impact on global affairs and American politics.

TIME editor-in-chief Sam Jacobs explained the decision, citing Trump’s “comeback of historic proportions,” his role in driving “a once-in-a-generation political realignment,” and his reshaping of both the American presidency and the country’s global role. This recognition comes after Trump’s unprecedented achievement of reclaiming the White House after losing reelection four years earlier.

The selection process involved an extensive interview with Trump at Mar-a-Lago in November, covering a wide range of topics including the economy, foreign policy, and his plans for a second term. Notably, TIME took the unprecedented step of publishing a comprehensive fact-check alongside the interview transcript, examining 15 distinct assertions made by Trump.

Trump’s relationship with TIME has been tumultuous over the years. While he expressed honor at receiving the title in 2016, he has also criticized the magazine’s selections and even claimed he refused a potential Person of the Year offer in 2017. Despite this, Trump participated in the process this year, granting TIME access for an in-depth interview.

To commemorate the announcement, Trump rang the opening bell at the New York Stock Exchange (NYSE). This event marked a significant moment in Trump’s career, as it was his first time participating in this Wall Street tradition.

Trump’s selection as Person of the Year reflects his continued influence on American politics and his ability to reshape the political landscape. As the country prepares for his return to the White House, all eyes will be on how Trump’s second term might further impact both domestic and international affairs.

Advertisement
Your support keeps us going!
Every purchase helps us do what we love. Thank you!

Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!

Continue Reading

Film Industry

Jay-Z Denies Allegations Amid Lawsuit

Published

on

Jay-Z, the renowned rapper and music mogul, faces serious allegations in a recently amended civil lawsuit. According to ABC News and NBC News, the suit accuses him and Sean “Diddy” Combs of raping a 13-year-old girl at an MTV Video Music Awards after-party in 2000.

The lawsuit, initially filed in October 2024, was updated on Sunday to include Jay-Z as a defendant alongside Combs. The plaintiff, identified only as “Jane Doe,” claims she was assaulted after being driven to the party following the awards show.

Jay-Z, whose real name is Shawn Carter, vehemently denies the allegations. He released a statement on X calling the lawsuit a “blackmail attempt” and questioning why it was filed as a civil case rather than a criminal one. The rapper expressed concern about the impact on his family, stating he and his wife Beyoncé would need to discuss the situation with their children.

Combs, who is currently in federal custody on separate charges, has also denied the accusations through his attorneys. The lawsuit alleges that an unidentified female celebrity was present during the incident but did not intervene.

The case has garnered significant media attention, with both artists’ reputations at stake. As the legal process unfolds, the music industry and public await further developments in this high-profile case.

Advertisement
Support Us by Shopping Our Shop!
Your support keeps us going!
Every purchase helps us do what we love. Thank you!

Bolanle Media is excited to announce our partnership with The Newbie Film Academy to offer comprehensive courses designed specifically for aspiring screenwriters. Whether you’re just starting out or looking to enhance your skills, our resources will provide you with the tools and knowledge needed to succeed in the competitive world of screenwriting. Join us today to unlock your creative potential and take your first steps toward crafting compelling stories that resonate with audiences. Let’s turn your ideas into impactful scripts together!

Continue Reading

Trending