As it does every quarter, the share price of monday.com (Nasdaq: MNDY) responded sharply after the release of the company’s financials, this time with a double-digit rise at the opening of trading. By the close the rise had moderated somewhat, to 6.72%.

The company, developer of an AI-based platform for managing tasks, has suffered from negative sentiment in recent months because of investors’ fears that the development of AI will damage its business model, and its share price has slumped by 51% so far this year. In the first quarter, however, it beat analysts’ estimates on both revenue and profit, and raised its annual guidance.

monday.com’s revenue grew by 24.5% in the first quarter to $351 million, which is more than the company’s own guidance in the previous quarter. On a GAAP basis, net profit was $28 million, 2.2% higher than in the corresponding quarter. On a non-GAAP basis, the company posted a net profit of $56 million, which compares with $58.4 in the corresponding quarter. Earnings per share were $1.15; the analysts’ consensus was only $0.93. The difference between the GAAP and non-GAAP profit figures arises mainly from stock-based compensation, which amounted to $29 million. monday.com generated $105 million cash from regular operations in the quarter, at the end of which its cash balance was over $1.2 billion.

For the year, the company’s guidance is for revenue of $1.466-1.474 billion, representing 19-20% growth over 2025, and free cash flow of $280-290 million. The previous guidance was for revenue of $1.452-1.462 billion and free cash flow of $275-290 million.

Talking to journalists after the results were released, monday.com co-founder and joint CEO Eran Zinman talked about what he described as the most significant change since the company was founded. Last week, monday.com announced a strategic change that Zinman says turns it from a platform for managing work into a platform that also does the work, by means of AI agents incorporated in the platform that enable agents and people to work together.

This change has led to a change in pricing model. New customers (and later on existing customers as well) will buy credits for the use of the platform’s features.

"The results we delivered in Q1 reflect a business that is executing with discipline and building with ambition at the same time," said company co-founders and co-CEOs Roy Mann and Eran Zinman. "The launch of the AI Work Platform and our shift to consumption-based pricing build directly on that momentum. As AI takes on more work for our customers, our business grows with it. We believe the best chapter of monday.com’s story is the one we are writing now."

CTO Eliran Glazer said that during the first quarter monday.com bought back its own shares to the tune of $553 million. He said that there had been no decision on extending the buyback program, but he did not rule out the possibility.

Published by Globes, Israel business news - en.globes.co.il - on May 12, 2026.