Monday.com reported another storming quarter as the software firm continued pivoting towards offering a more diverse set of enterprise tools than the project management dashboards it has been known for.
The company now expects 2025 revenues to hit up to $1.226 billion; up 25% year-on-year, as it pushes into the customer relationship management (CRM), product development, and IT ticketing segments.
Monday.com has been growing its proposition.
Revenues were up 30% on-year; cash flow and operating profit also hit record highs. Since baking AI into its platform, meanwhile, it has seen “more than 26 million AI actions to date, up more than 150% since the end of 2024.”
That’s according to CEO Roy Man on a May 12 Q1 call, who later admitted in a Q&A that customers “get a lot of value out of those actions and the numbers are great, but they don't really represent the value… we are monetizing it. I would say the usage we see is deep in many areas, but the monetization is still in early stages and we're experimenting with it.”
Speaking to The Stack in March, Chief Product Officer Daniel Lereya said some trial and error around AI integration had seen it settle on delivering “AI blocks” – simplified modular AI augmentation tools for users which, as Lereya puts it, “you can take with no-code… and with just one click you can actually integrate AI into your existing workflows.”
(Monday.com relies under the hood largely on Microsoft Azure’s AI. Lereya also highlighted integrations with ChatGPT, Mistral and Anthropic providing “advanced users” a choice on the model that suits them best.)
These “blocks” can take many forms, with the example given by Lereya one called "extract" that can be used by companies looking to pull data from documents and spreadsheets – with Monday.com extending free credits for customers to deploy these for a certain number of hours.
Lereya said: “We didn't want a pricing mechanism that was [corresponding] to seats. We didn't want to be upset if someone used AI in order to be more efficient in his organisation…”
In this vein, all Monday.com users are given an initial 500 AI action credits per month with their contract, a number Lereya describes as the “tipping point” for experimentation, with users having to buy any credits after that: “We saw that after 500 actions, it means that people are no longer experimenting, they are now actually integrating it into their core flow.”
The company has been pushing upstream from its mid-market comfort zone in search of larger enterprise deals and in 2024 grew its largest customer to 80,000 seats. It names over 245,000 customers and last year grew its headcount 35% to 2,500 staff, with more recruitment pending.)
