Monday.com Q3 Revenue Rises 26% to $317M, CRM ARR Tops $100M
Monday.com posted Q3 FY2025 revenue of $317 million (+26% YoY) with net dollar retention of 111% and record non-GAAP operating income of $47.5 million (15% margin). It generated $92.3 million free cash flow (29% margin) and its CRM platform exceeded $100 million ARR in under two years.
1. Q3 Financial Performance
Monday.com achieved Q3 FY2025 revenue of $317 million, marking a 26% increase year-over-year, and maintained net dollar retention at 111%, underscoring customer expansion and retention strength.
2. Profitability and Cash Flow
Non-GAAP operating income reached a record $47.5 million, corresponding to a 15% margin, while free cash flow hit $92.3 million (29% margin), highlighting meaningful operating leverage despite ongoing investments.
3. CRM Platform Growth
The company’s CRM offering surpassed $100 million in ARR in under two years, driven by up-market adoption, workflow flexibility, lighter implementation and bundled Work Management and Service packages aimed at boosting ARPU.
4. Outlook and Growth Drivers
Q4 revenue growth is expected around 22–23% as marketing shifts toward sales-led motions. Success in up-market execution, higher multi-product penetration and AI-driven app creation via Vibe and Agent Factory are critical for reaching a $1.8 billion ARR target by FY2027.