monday.com Soars to New Heights: Q4 2024 Results Exceed Expectations
![monday.com Soars to New Heights: Q4 2024 Results Exceed Expectations](/content/images/size/w1200/2025/02/downloaded_image-61.png)
Monday.com, a leading Work OS platform provider, has closed out its fiscal year 2024 on a high note. The company's fourth quarter financial results have exceeded expectations, solidifying its market leadership and driving innovation to meet the evolving needs of its customers.
"We're thrilled with our Q4 performance," said Roy Mann, co-CEO of monday.com. "Our business has reached new heights across every area, and we've made significant progress in solidifying our market leadership while driving innovation to meet the evolving needs of our customers."
In a major milestone for the company, monday.com's annual recurring revenue (ARR) has surpassed $1 billion, underscoring the strength of its Work OS platform and the increasing demand for its solutions. The company's financial performance was equally exceptional in 2024, with record operating margins and delivered record free cash flow.
Monday.com's total revenue in Q4 came in at $268 million, up 32% from a year ago quarter and $972 million in FY '24, up 33% from the prior year. The company continues to make considerable progress in its multiproduct strategy, with Monday's CRM exceeding expectations and adding a record number of net new accounts for both CRM and Dev during the year.
"We're proud to be recognized as a leader in the Gartner Magic Quadrant in three different categories," added Roy Mann. "This recognition further validates our strategy and our continued commitment to delivering value to our customers."
On the product front, monday.com has made significant strides in its AI development, unveiling several new capabilities, including AI blocks. Since AI was integrated into the monday platform, users have performed approximately 10 million AI actions, highlighting the company's commitment to enhancing the user experience and driving greater efficiency through innovating AI solutions.
The company has also successfully grown its largest seat count to 80,000 seats, signaling strong adoption and deepening enterprise customer engagement. All this enterprise expansion would not have been possible without mondayDB, the company's data architecture. In 2024, monday.com completed the latest phase of mondayDB, mondayDB 2.0, enhancing the platform scalability to support larger, more complex use cases.
"We remain focused on continuing this momentum in 2025," said Roy Mann. "Building on our achievement and further expanding our reach and impact with a strong foundation in place, we are excited for the opportunities to come."
Monday Service, an AI-first enterprise service management solution that helps service teams deliver exceptional support, faster through smart AI-powered automation, is now officially available to customers. Initial customer demand has been very strong, with Monday Service showing the highest cross-sell of new products and the highest ACV of the entire monday product suite.