Monday.com Ltd stock jumped aggressively in morning trading, rising +18.61% following the release of its first quarter 2026 results published before markets opened. The company reported Q1 revenue of $351.3 million, a 24% increase year-over-year, and recorded both GAAP and non-GAAP operating income records alongside record net additions of customers with more than $500,000 in annual recurring revenue (ARR).
Key financial beats underpinned the move. Monday.com reported non-GAAP earnings of $1.15 per share, which the company said came in 23.4% above analysts' consensus estimates. Adjusted operating income was $49.04 million, exceeding the $38.06 million estimate by nearly 29%.
Management highlighted growth in larger enterprise customers and several product and capital-allocation initiatives that amplified investor enthusiasm. The firm said its enterprise mix deepened with double-digit growth in high-ARR customer segments and that remaining performance obligations (RPO) rose to $880 million. The company repurchased $553 million of its own stock and announced an AI Work Platform featuring native agents and a new consumption-based pricing model.
Monday.com also disclosed an agreement to acquire OneAI, a move described by the company as intended to add voice agent capabilities and extend the AI Work Platform across every surface where work gets done.
"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."
The broader market provided no lift for the rally. The S&P 500 was essentially flat at -0.01%, the Dow Jones Industrial Average slipped -0.06%, and the NASDAQ fell -0.19%, underscoring that the move in Monday.com shares was company-specific.
Additional operating metrics cited by the company reinforced the narrative of durable customer engagement. Net revenue retention was 115% in Q1, which the company characterized as meaning it would have grown revenue by 14.5% even without any new customer wins over the prior 12 months.
Monday.com raised its full-year outlook for total revenue to a range of $1,466 million to $1,474 million, implying year-over-year growth of 19% to 20%. The stock, which had traded under significant pressure over the prior year and was near its 52-week low ahead of the report, climbed from a prior close of $72.07 to an intraday high of $85.49 during the session.
Summary of the quarter and market response
- Revenue: $351.3 million, up 24% year-over-year.
- Non-GAAP EPS: $1.15 per share, 23.4% above consensus.
- Adjusted operating income: $49.04 million versus $38.06 million expected.
- RPO: $880 million; net revenue retention: 115%.
- Strategic moves: AI Work Platform launch, consumption-based pricing, OneAI acquisition agreement, $553 million stock repurchase.
The confluence of a broad earnings beat, higher full-year revenue guidance, a major product launch positioned around AI, an acquisition intended to add voice-agent functionality, and a sizable buyback program combined into what the market treated as a potent, multi-catalyst event.
Context for investors
Investors reacted to an unusual cluster of positive developments: above-consensus earnings and operating income, concrete signs of deeper enterprise penetration, a commitment to return capital through buybacks, and the introduction of a consumption-based pricing model tied to an AI product roadmap. These factors drove a sharp intraday revaluation of the shares despite a flat broader market.