rewrite this title Monday.com Q4 and FY2025 Earnings: Revenue Tops $1.2 Billion as AI Products Take Centre Stage

Monday.com has reported fourth quarter and fiscal year 2025 results that showed a company growing quickly and spending carefully, but facing questions about what comes next.

Q4 revenue was $333.9 million, up 25% year-over-year. Full-year revenue reached $1.232 billion, up 27%, with a non-GAAP operating margin of 14% and adjusted free cash flow of $322.7 million. By the numbers, a strong year.

The market disagreed. Monday.com‘s stock dropped roughly 15% in pre-market trading on 9 February after the company guided for FY2026 revenue of $1.452 billion to $1.462 billion, implying 18–19% growth, well below the 21% Wall Street expected. The company also pulled its previously shared 2027 targets, citing uncertainty in the AI landscape and persistent weakness in its self-serve customer channels.

For workforce management buyers and IT leaders, though, the financial headline is less interesting than what Monday.com is building and how it fits into a work management market that is changing fast.

AI Roadmap: Moving From Work Management to Work Execution

Co-CEO Eran Zinman described how company is moving “from helping customers manage work to actually doing the work for them.”

That ambition sits on four products that now make up Monday.com’s AI platform:

Monday Sidekick: an assistant that surfaces insights and triggers actions across a customer’s data and workflows. It has processed over half a million user messages to date.
Monday Vibe: lets customers build applications on top of their Monday data, consolidating business processes into one platform. Vibe hit $1 million in ARR just 2.5 months after pricing launched in October 2025, the fastest any Monday.com product has reached that mark.
Monday Agents: currently in beta, these execute tasks across workflows autonomously, acting as a digital workforce that scales output without adding headcount.
Monday Workflows: AI-driven automation connecting the above. Monday’s AI blocks have powered more than 77 million actions so far.

Zinman’s positioning for agents and workflows was explicit about labour leverage, a message likely to resonate with operations and workforce leaders facing budget constraints.

“These allow customers to create an on-demand workforce of AI agents that can reason, act, and execute across their workflows, effectively enabling businesses to scale output without scaling headcount.”

Enterprise Adoption: Large Customers Drive the Growth Mix

Monday.com’s upmarket momentum was one of the strongest parts of the release. Large accounts are growing quickly and taking a bigger share of total ARR:

Customers above $50,000 in ARR rose to 4,281 (up 34% year-over-year) and now represent 41% of ARR (up from 36%).
Customers above $100,000 in ARR rose to 1,756 (up 45%) and now represent 28% of ARR (up from 24%).
Customers above $500,000 in ARR rose to 87 (up 74%) and now represent 6% of ARR (up from 4%).

Mann said larger organisations are standardising on the platform for more critical use cases.

“Larger customers are increasingly standardizing on monday.com Ltd. to support more complex critical workflows across their organizations.”

Retention was steadier at the high end than the overall number suggests. Net dollar retention was 110% overall in Q4, but 116% for customers above $50,000 in ARR and also 116% for customers above $100,000 in ARR.

The pipeline picture strengthened as well. Total remaining performance obligations (RPO), which reflects contracted future revenue, rose 37% to $839 million, while current RPO grew 31% to $676 million.

Self-Serve Demand: A Weak Spot That May Persist

Mann also acknowledged the softer side of the business. He said the cost to acquire and expand self-serve customers has risen, and returns have been below historical levels. The company expects that “choppy” environment, particularly among smaller customers, to persist in 2026.

Monday.com built much of its early growth on bottom-up adoption, small teams signing up without sales involvement. That channel is now underperforming, and the company says it is shifting investment toward higher-return enterprise opportunities. It is also using automation and AI tools to improve conversion and adoption.

That dynamic is not unique to monday.com. Across SaaS, many organisations are cutting back on point tools, consolidating vendors and scrutinising renewals. Work management platforms sit directly in the crosshairs of that consolidation because they often overlap with collaboration suites, IT service management tools and workflow automation products.

Competitive Context: A Crowded Work Management Market

Monday.com is competing in a crowded category where the boundaries keep shifting.

Atlassian remains a dominant force in technical workflows, particularly around Jira and Confluence, with deep enterprise penetration and ongoing AI investment. Asana continues to compete directly in visual work management but has grown more slowly in recent periods. Smartsheet, now private after its acquisition by Blackstone and Vista Equity Partners, remains influential in project-heavy industries. Privately held tools such as ClickUp and Notion are also pushing upmarket with broader “all-in-one” positioning and their own AI features.

For buyers, the comparison is increasingly about outcomes rather than features: how well tools integrate into enterprise systems, whether they simplify governance rather than complicate it, and whether automation reduces administrative work in a measurable way.

Bottom Line: What Matters Beyond the Monday.com Earnings Headline

Monday.com finished FY2025 with $1.232 billion in revenue, strong cash generation, and clear momentum in larger accounts. The near-term question is pace. Growth is decelerating, self-serve demand is under pressure, and the company is stepping back from longer-range targets.

For workforce management and analytics teams, the longer-term significance is the direction of the category. Work management platforms are trying to become operational systems that link planning, execution and measurement. Monday.com is positioning its AI and application-building tools as the next step in that shift. The next few quarters will show whether those products drive sustained enterprise adoption or add complexity without changing outcomes.