monday.com Ltd. (NASDAQ:MNDY) shares surged more than 16% yesterday after the company reported its Q1 results, with EPS of $0.14 coming in better than the Street estimate of ($0.28). Revenue was $162.3 million, beating the Street estimate of $155.33 million. The beat was due to fast-paced enterprise gains (1,683 accounts, up 75.3% year-over-year) and healthy new customer activity helped offset ongoing NDR pressure.
For Q2/23, the company expects revenue to be in the range of $168-$170 million, compared to the Street estimate of $165.3 million. For the full year, the company sees revenue at $702-$706 million, compared to the Street estimate of $690.7 million.