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Investing.com – Monday .com stock (NASDAQ:MNDY) climbed 13% Wednesday after reporting a near-doubling of its quarterly revenue as it continued to widen the usage of its platform into cases such as operations, project management, finance, marketing and HR.
Monday.com provides a cloud-based work operating system that organizations can use to create tools and processes they need to manage aspects of their work.
Second-quarter revenue grew 94% year-over-year to $70.6 million. Operating loss narrowed to $9.9 million from $14.9 million in the June quarter of 2020.
The company closed the quarter with 470 paid enterprise customers having more than $50,000 in annual recurring revenue, up 226% from 144 in the second quarter of 2020.
For the full year 2021, Monday.com expects total revenue of $280 million to $282 million, representing year-over-year growth of 74% to 75%. The operating loss is seen between $93 million and $91 million.
