monday.com Ltd. (NASDAQ:MNDY) Q3 2023 Earnings Conference Call November 13, 2023 8:30 AM ET

Company Participants

Byron Stephen - Head of IR

Roy Mann - Co-CEO

Eran Zinman - Co-CEO

Eliran Glazer - CFO

Conference Call Participants

Kash Rangan - Goldman Sachs

Pinjalim Bora - JPMorgan

Steve Enders - Citi

Brent Bracelin - Piper Sandler

Arjun Bhatia - William Blair

Andrew DeGasperi - TD Cowen

Brent Thill - Jefferies

George Iwanyc - Oppenheimer

David Hynes - Canaccord

Scott Berg - Needham & Company

Taylor McGinnis - UBS

Jason Celino - KeyBanc Capital Markets

Robert Simmons - D.A. Davidson

Operator

Thank you for standing by, and welcome to the monday.com Third Quarter Fiscal Year 2023 Earnings Conference Call.

I would now like to welcome Byron Stephen, Head of Investor Relations to begin the call. Byron, over to you.

Byron Stephen

Hello, 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 2023. Joining me today are Roy Mann and Eran Zinman, co-CEOs of monday.com and Eliran Glazer, monday.com CFO.

We released our results for the third quarter 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 our 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.

Now let me turn the call over to Roy.

Roy Mann

Thank you, Byron, and thank you, everyone, for joining us today.

As we reflect on our most recent quarter, it is with heavy hearts that we acknowledge the recent tragic events that have unfolded in Israel. Our thoughts are with all those affected by recent violent terrorist attacks.

At this time, the impact on the current situation of our global operation is minimal, and we remain confident in our ability to meet all our business and financial targets. In terms of revenue, Israel accounts for a low single-digit percentage of our total ARR. While only approximately 7% of our global workforce have been called up for reserve duty, our global employees have gone above and beyond to seamlessly feel any gaps to help ensure our business continues to run smoothly.