TEL AVIV-YAFO, Israel (AP) — TEL AVIV-YAFO, Israel (AP) — Monday.com Ltd. (MNDY) on Monday reported a loss of $12 million in its third quarter.
The Tel aviv-Yafo, Israel-based company said it had a loss of 24 cents per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 85 cents per share.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of 61 cents per share.
The project management software developer posted revenue of $251 million in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $245.7 million.
For the current quarter ending in December, Monday.com said it expects revenue in the range of $260 million to $262 million.
The company expects full-year revenue in the range of $964 million to $966 million.
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