monday.com Ltd. (NASDAQ:MNDY) Q3 2022 Earnings Conference Call November 14, 2022 8:30 AM ET

Company Participants

Byron Stephen - IR

Roy Mann - Co-Founder & Co-CEO

Eran Zinman - Co-Founder & Co-CEO

Eliran Glazer - CFO

Conference Call Participants

Steven Enders - Citigroup

Pinjalim Bora - J.P. Morgan

Brent Bracelin - Piper Sandler

Jackson Ader - SVB Securities

Ittai Kidron - Oppenheimer

David Hynes - Canaccord Genuity

Unidentified Analyst - Cowen & Company

Fred Lee - Credit Suisse

Andrew DeGasperi - Berenberg

Scott Berg - Needham

Jason Celino - KeyBanc Capital Markets

Robert Simmons - D.A. Davidson

Shebly Seyrafi - FBN Securities

Jake Roberge - William Blair

Brent Thill - Jefferies

Operator

Good day. My name is Alex and I'll be your conference operator today. At this time, I would like to welcome everyone to monday.com's Third Quarter Fiscal Year 2022 Earnings Conference Call. I would now like to turn the call over to monday.com's Director of Investor Relations, Mr. Byron Stephen. Please go ahead.

Byron Stephen

Good day, everyone and thank you for joining us on today's conference call to discuss the financial results for monday.com's third quarter fiscal year 2022. Joining me today are Roy Mann and Eran Zinman, co-CEOs of monday.com and Eliran Glazer, monday.com's CFO. We released our results for the third quarter fiscal year 2022 earlier today. You can find our quarterly shareholder letter along with our investor presentation and a replay of today's webcast under the News and Events section of our IR Website at ir.monday.com.

Certain statements made on the call today will be forward-looking statements, which reflect management's best judgment based on the currently available information. These statements involve risks and uncertainties that may cause actual results to differ from our expectations. Please refer to our earnings release for more information on the specific factors that could cause actual results to differ materially from our forward-looking statements. Additionally, non-GAAP financial measures will be discussed on the call. Reconciliations to the most directly comparable GAAP financial measures are available in the earnings release and the earnings presentation for today's call, which are posted on our Investor Relations Website. With that, let me now turn the call over to Roy.

Roy Mann

Thanks, Byron. Good day everyone and welcome to our third quarter earnings call. We are pleased to say that Q3 was another terrific quarter for monday.com. We posted strong growth with enterprise customers, saw continued momentum in our new Work OS product suite with monday CRM exceeding expectations, scaled our global workforce and operations, and did it all while generating positive adjusted free cash flow. We ended the quarter with a revenue of 136.9 million, reflecting growth of 65% year-over-year on a reported basis or 68% on an FX adjusted basis, adjusted free cash flow of 14 million representing a 10% adjusted free cash flow margin. We are closely monitoring uncertainties in the macro environment and the impact it's having on our customer and our business.