monday.com Ltd. (MNDY): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el software Dynamic World of Work Management, Monday.com surge como una plataforma revolucionaria que transforma cómo los equipos colaboran y ejecutan proyectos. Al combinar ingeniosamente la automatización del flujo de trabajo visual con una interfaz intuitiva sin código, esta innovadora solución SaaS permite a las empresas de todos los tamaños a optimizar sus operaciones y aumentar la productividad. Desde pequeñas nuevas empresas hasta grandes empresas, el sistema operativo flexible de Monday.com se ha convertido rápidamente en una herramienta de cambio de juego que reinventa la coordinación del equipo, el seguimiento de proyectos y la eficiencia organizacional en un lugar de trabajo cada vez más digital.

Monday.com Ltd. (MNDY) - Modelo de negocios: asociaciones clave

Integraciones de tecnología estratégica

Monday.com mantiene asociaciones de tecnología estratégica con:

Pareja	Detalles de integración	Año establecido
Salesforce	Sincronización de datos CRM	2021
Microsoft	Equipos e integración de Office 365	2020
Flojo	Integración de comunicación de flujo de trabajo	2019
Zoom	Colaboración de videoconferencia	2020

Asociaciones de infraestructura en la nube

El principal socio de infraestructura en la nube de lunes.com:

• Amazon Web Services (AWS) - Proveedor de alojamiento de nube primario
• Hosting Infraestructura que cubre el tiempo de actividad del 99.99%
• Presencia del centro de datos global en múltiples regiones

Ecosistema de desarrollo de software

El ecosistema de colaboración incluye:

Socio del ecosistema	Tipo de colaboración
Github	Integración del repositorio de código
Gitlab	Integración de flujo de trabajo DevOps
Atlassiano	Sincronización de herramientas de gestión de proyectos

Asociaciones de canal

Las asociaciones de integrador de sistemas globales incluyen:

• Deloitte digital
• Acentuar
• Servicios digitales de PWC

Implementaciones de la empresa de consultoría

Socios de servicios de implementación empresarial:

Consultoría	Enfoque de implementación
Kpmg	Optimización de flujo de trabajo empresarial
McKinsey Digital	Consultoría de transformación organizacional
Grupo de consultoría de Boston	Estrategia de trabajo digital

Monday.com Ltd. (MNDY) - Modelo de negocio: actividades clave

Desarrollo de software continuo y mejora de la plataforma

En el tercer trimestre de 2023, Monday.com invirtió $ 41.8 millones en investigación y desarrollo, lo que representa el 37.5% de los ingresos totales.

Métrico de desarrollo	Valor 2023
Gastos de I + D	$ 41.8 millones
I + D como % de ingresos	37.5%
Ingenieros de software totales	438
Actualizaciones de plataforma anual	12-15

Operaciones de éxito y soporte del cliente

Monday.com mantiene un equipo global de atención al cliente en múltiples regiones.

• Disponibilidad de soporte al cliente 24/7
• Múltiples canales de soporte de idiomas
• Tiempo de respuesta promedio: 2.5 horas

Estrategias de marketing y adquisición de clientes

Métrico de marketing	Valor 2023
Gastos de marketing	$ 97.3 millones
Costo de adquisición de clientes	$ 41 por cliente
Adquisición anual de nuevos clientes	22,500

Innovación de productos y desarrollo de características

Monday.com lanzó 38 funciones de nuevos productos en 2023, con un enfoque significativo en la integración de IA.

• Automatización de flujo de trabajo con IA
• Capacidades de integración mejoradas
• Expansiones de tablero personalizables

Investigación y desarrollo de soluciones de gestión laboral con IA

Equipo de investigación de IA dedicado de 67 especialistas centrado en innovaciones de tecnología de gestión laboral.

Métrica de desarrollo de IA	Valor 2023
Tamaño del equipo de investigación de IA	67 especialistas
Implementaciones de características de IA	12 nuevas capacidades de IA
Inversión de I + D	$ 18.6 millones

Monday.com Ltd. (MNDY) - Modelo de negocios: recursos clave

Plataforma del sistema operativo del trabajo avanzado (OS del trabajo del trabajo)

La plataforma central de Monday.com sirve como un recurso clave crítico, que admite más de 186,000 clientes a nivel mundial a partir del tercer trimestre de 2023. La plataforma permite la gestión de flujo de trabajo en más de 200 industrias.

Métrica de plataforma	Datos cuantitativos
Total de clientes	186,000+
Industrias atendidas	200+
Ingresos recurrentes anuales (2023)	$ 679.3 millones

Equipo de desarrollo de software patentado

La compañía mantiene una sólida fuerza laboral de ingeniería de software.

• Total de empleados (2023): 1.504
• Gastos de I + D (2023): $ 231.1 millones
• Porcentaje de ingenieros de software: aproximadamente el 40-45% de la fuerza laboral total

Infraestructura tecnológica basada en la nube

Monday.com utiliza una infraestructura de nube avanzada que respalda las operaciones globales.

Infraestructura métrica	Especificación
Proveedor de alojamiento de nubes	Servicios web de Amazon (AWS)
Centros de datos globales	Múltiples regiones en todo el mundo
Inversión anual de infraestructura en la nube	$ 45-50 millones

Propiedad intelectual y patentes de software

Monday.com mantiene una fuerte cartera de propiedades intelectuales.

• Solicitudes de patentes totales: 12-15
• Patentes de software activos: 8
• Inversión de patentes (2023): $ 3.2 millones

Grupo de talentos globales

La compañía aprovecha una fuerza laboral internacional diversa con experiencia en SaaS.

Talento métrico	Punto de datos
Total de empleados	1,504
Oficinas internacionales	6 ubicaciones globales
Tasa de retención de empleados	85%

Monday.com Ltd. (MNDY) - Modelo de negocio: propuestas de valor

Plataforma de gestión de trabajo flexible y personalizable

Monday.com ofrece más de 200 plantillas preconstruidas en 14 industrias diferentes a partir de 2024. La plataforma admite más de 200 integraciones con herramientas de software de terceros.

Categorías de plantilla	Número de plantillas
Gestión de proyectos	65
Marketing	45
Ventas	35
HORA	25
Desarrollo de productos	30

Colaboración visual y automatización del flujo de trabajo

Las capacidades de automatización de flujo de trabajo incluyen:

• Asignaciones de tareas automatizadas
• Actualizaciones de estado en tiempo real
• Notificaciones basadas en gatillo
• Creación de reglas personalizadas

Característica de automatización	Porcentaje de uso
Enrutamiento de tareas	78%
Seguimiento de estado	85%
Alertas de fecha límite	72%

Herramientas de seguimiento del proyecto en tiempo real y productividad del equipo

Las métricas de seguimiento de la productividad muestran una mejora del 40% en la eficiencia del equipo para los usuarios que implementan la plataforma de Monday.com.

• Características de seguimiento de tiempo
• Paneles de rendimiento
• Herramientas de asignación de recursos

Interfaz intuitiva sin código/código bajo

La plataforma admite la creación de tableros personalizados con una calificación de interfaz de 92% fácil de usar. Tiempo de configuración promedio: 15 minutos para nuevos espacios de trabajo.

Complejidad de la interfaz	Satisfacción del usuario
Fácil	68%
Moderado	24%
Complejo	8%

Capacidades de escalabilidad e integración de grado empresarial

Los clientes empresariales representan el 35% de los ingresos totales. La plataforma admite la escala de 5 a más de 5,000 usuarios sin problemas.

• SoC 2 Tipo II Cumplante
• GDPR y CCPA certificados
• Cifrado de 256 bits

Función empresarial	Disponibilidad
Inicio de sesión único	Sí
Permisos avanzados	Sí
Dominio personalizado	Sí

Monday.com Ltd. (MNDY) - Modelo de negocios: relaciones con los clientes

Incorporación de autoservicio digital

Monday.com ofrece un proceso de incorporación de autoservicio digital con las siguientes características clave:

• Duración de prueba gratuita: 14 días
• Creación de cuenta instantánea sin requisitos de tarjeta de crédito
• Tutorial de productos automatizado y asistente de configuración

Métrica de incorporación	Valor
Tiempo promedio a primer valor	Menos de 30 minutos
Tasa de activación del usuario	68%

Recursos integrales de soporte en línea

Monday.com proporciona una amplia infraestructura de soporte en línea:

• Centro de ayuda en línea 24/7
• Biblioteca de documentación completa
• Video Tutorial y Guías

Canal de soporte	Tiempo de respuesta
Soporte por correo electrónico	Menos de 24 horas
Chat en vivo	Dentro de 5 minutos

Gestión personalizada del éxito del cliente

Gerentes de éxito de clientes dedicados Proporcione soporte personalizado para clientes empresariales y de nivel superior.

• Gerentes de éxito asignados para cuentas empresariales
• Revisiones comerciales trimestrales
• Estrategias de implementación personalizadas

Foros de usuarios y base de conocimiento impulsados ​​por la comunidad

Monday.com mantiene plataformas activas de participación comunitaria:

• Foro de la comunidad de lunes.com
• Contenido y plantillas generados por el usuario
• Red de soporte entre pares

Métrica de la comunidad	Valor
Miembros activos de la comunidad	Más de 100,000
Interacciones comunitarias mensuales	50,000+

Seminarios web y sesiones de capacitación regulares de productos

Aprendizaje continuo y compromiso a través de programas de capacitación estructurada:

• Seminarios web semanales de productos en vivo
• Módulos de entrenamiento a pedido
• Programas de certificación

Métrica de entrenamiento	Valor
Participantes mensuales de seminarios web	5,000+
Usuarios certificados	15,000

Monday.com Ltd. (MNDY) - Modelo de negocios: canales

Plataforma directa de ventas en línea

Monday.com generó $ 679.4 millones en ingresos para el año fiscal 2022. La plataforma de ventas en línea directa de la compañía representa aproximadamente el 67% de las ventas totales, lo que representa alrededor de $ 455 millones en ingresos digitales directos.

Canal de ventas	Porcentaje	Contribución de ingresos
Plataforma directa en línea	67%	$ 455 millones

Equipo de ventas empresarial

El equipo de ventas empresarial de Monday.com se dirige a los clientes del mercado medio y a los grandes clientes empresariales. A partir del tercer trimestre de 2023, la compañía reportó 221,000 clientes, con clientes empresariales que representan el 37% de la base total de clientes.

Segmento de clientes	Número de clientes	Porcentaje
Total de clientes	221,000	100%
Clientes empresariales	81,770	37%

Campañas de marketing digital

Monday.com invirtió $ 229.7 millones en gastos de ventas y marketing en 2022, que incluye campañas de marketing digital en múltiples canales.

Mercados de aplicaciones e integraciones

Monday.com ofrece integraciones con más de 200 aplicaciones de terceros, que incluyen:

• Salesforce
• Equipos de Microsoft
• Flojo
• Espacio de trabajo de Google
• Zoom

Redes de referencia de socios

La compañía ha establecido asociaciones estratégicas con firmas de consultoría de tecnología y revendedores. Los ingresos generados por socios contribuyen con aproximadamente el 15-20% de las ventas totales.

Canal de pareja	Contribución de ingresos
Socios de consultoría de tecnología	12%
Redes de revendedor	8%

Monday.com Ltd. (MNDY) - Modelo de negocios: segmentos de clientes

Pequeñas y medianas empresas

A partir del cuarto trimestre de 2023, Monday.com reportó 191,000 clientes que pagan, con una porción significativa que comprende pequeñas y medianas empresas (SMB).

Métricas de segmento SMB	Valor
Valor anual promedio del contrato	$7,800
Tasa de retención de clientes de SMB	90%

Grandes organizaciones empresariales

Monday.com ha estado expandiendo su base de clientes empresariales, con el 25% de los ingresos totales provenientes de clientes que gastan más de $ 50,000 anuales.

Métricas de segmento empresarial	Valor
Número de clientes empresariales	1,350
Valor de contrato anual promedio de la empresa	$82,500

Equipos profesionales de la industria cruzada

Monday.com atiende a múltiples industrias con su sistema operativo laboral.

• Tecnología: 28% de la base de clientes
• Marketing y publicidad: 19% de la base de clientes
• Servicios profesionales: 15% de la base de clientes
• Atención médica: 12% de la base de clientes
• Educación: 8% de la base de clientes

Profesionales de gestión de proyectos

La plataforma se dirige específicamente a los profesionales de gestión de proyectos en varios sectores.

Segmento de gestión de proyectos	Valor
Usuarios de gestión de proyectos	45% de la base total de usuarios
Usuarios activos mensuales promedio por organización	37

Equipos de fuerza laboral remoto y distribuido

Monday.com ha visto un crecimiento significativo en herramientas de colaboración laboral remota.

• Tasa de adopción del equipo remoto: Aumento del 62% en 2023
• Equipos distribuidos globales: 35% de la base de clientes

Monday.com Ltd. (MNDY) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2022, Monday.com reportó gastos de I + D de $ 155.8 millones, lo que representa el 37.1% de los ingresos totales.

Año fiscal	Gastos de I + D	Porcentaje de ingresos
2022	$ 155.8 millones	37.1%
2021	$ 106.4 millones	40.5%

Inversiones de ventas y marketing

Los gastos de ventas y marketing para lunes.com en 2022 totalizaron $ 264.1 millones, lo que representa el 63% de los ingresos totales.

• Gasto de ventas y marketing 2022: $ 264.1 millones
• Gasto de ventas y marketing 2021: $ 186.9 millones

Mantenimiento de la infraestructura en la nube

Los costos de infraestructura en la nube para Monday.com son parte de su costo de ingresos, que fue de $ 41.8 millones en 2022.

Año fiscal	Costo de ingresos
2022	$ 41.8 millones
2021	$ 26.4 millones

Costos de adquisición de personal y talento

Los gastos operativos totales relacionados con el personal en 2022 fueron de $ 467.2 millones.

• Total de cabeza en 2022: 1,457 empleados
• Costo promedio por empleado: aproximadamente $ 320,000

Atención al cliente y operaciones de éxito

Los gastos de atención al cliente están integrados en ventas y marketing y gastos administrativos generales.

Categoría de gastos	Cantidad de 2022
General y administrativo	$ 83.9 millones
Ventas y marketing	$ 264.1 millones

Monday.com Ltd. (MNDY) - Modelo de negocios: flujos de ingresos

Modelo de precios basado en suscripción

Monday.com genera ingresos principalmente a través de un modelo basado en suscripción con $ 679.4 millones en ingresos totales para el año fiscal 2022, lo que representa un crecimiento año tras año del 47%.

Planes de precios escalonados

Tipo de plan	Precio mensual por usuario	Características clave
Basic	$8	Características de colaboración limitadas
Estándar	$10	Gestión de flujo de trabajo avanzado
Pro	$16	Informes de nivel empresarial
Empresa	Precios personalizados	Personalización completa de la plataforma

Ingresos recurrentes mensuales/anuales por usuario

A partir del tercer trimestre de 2023, Monday.com informó:

• Tasa de retención de ingresos netos: 125%
• Ingresos promedio por cliente pagado: $ 13,451
• Total de los clientes que pagan: 186,700

Servicios profesionales y consultoría

Las fuentes de ingresos adicionales incluyen:

• Consultoría de implementación
• Diseño de flujo de trabajo personalizado
• Servicios de capacitación e incorporación

Característica adicional y monetización adicional

Servicio adicional	Precio mensual
Integraciones avanzadas	$50-$200
Soporte premium	$100-$500
Desarrollo de tablero personalizado	$250-$1,000

monday.com Ltd. (MNDY) - Canvas Business Model: Value Propositions

You're looking at how monday.com Ltd. (MNDY) delivers tangible value to its customers as of late 2025. The core proposition revolves around consolidation, adaptability, and intelligence built into the platform.

Unified Work OS: Centralizing diverse workflows (CRM, Dev, Service) on one platform.

The platform's value is increasingly tied to its multi-product adoption, moving beyond core Work Management. This centralization is showing up in the financials through higher-value customer segments.

• New products (monday CRM, monday dev, monday service, monday campaigns) now account for more than 10% of total ARR as of Q3 2025.
• monday CRM achieved $100 million in Annual Recurring Revenue (ARR) as of Q2 2025.
• monday Campaigns, launched in September 2025, already has more than 200 accounts.

Flexibility and Customization: Users build custom apps and workflows without code.

The no-code/low-code aspect is critical for adoption, especially among non-technical users. The creation of custom applications demonstrates this flexibility in action.

Customization Metric	Value (As of Late 2025)
Custom Apps Created (since July, tied to monday Vibe)	Over 60,000
Customers with more than 10 users (% of ARR)	81%

AI-Powered Productivity: Automating tasks and providing proactive support via AI agents.

AI integration is a major driver of engagement and is moving the platform toward work execution. The adoption rate shows a significant shift in how customers are using the platform.

• Cumulative AI-driven actions across the platform reached over 46 million as of Q2 2025.
• Adoption growth quarter-over-quarter since implementing the AI strategy was more than 150% as of the end of Q1 2025.
• The company offered each customer 500 free AI actions before moving to a usage-based pricing model.

Enterprise Scalability: Robust features for leadership visibility and resource optimization.

The focus on larger accounts is evident in the growth of high-ARR customer cohorts and strong retention within those groups. This shows the platform is successfully embedding itself in critical enterprise operations.

Enterprise Segment Metric (As of Q3 2025)	Count / Rate
Customers with more than $50,000 ARR	3,993
Customers with more than $100,000 ARR	1,603
Customers with more than $500,000 ARR (YoY Growth)	78 (Up 73%)
Net Dollar Retention Rate ($50k+ ARR Customers)	117%

Rapid Time-to-Value: Intuitive interface for quick adoption and immediate impact.

The overall platform health, reflected in retention, suggests users find value quickly enough to expand their usage year over year. The general net dollar retention rate speaks to this stickiness.

• Net Dollar Retention Rate (Overall) was 111% as of Q3 2025.
• Net Dollar Retention Rate for customers with more than 10 users was 115% as of Q3 2025.

monday.com Ltd. (MNDY) - Canvas Business Model: Customer Relationships

You're looking at how monday.com Ltd. manages its relationship with its diverse user base, which spans from small teams to the largest enterprises. It's a multi-pronged approach, balancing efficient digital touchpoints with high-touch human engagement.

Self-Serve Model

The foundation for acquisition, especially for smaller teams and SMBs, remains the low-touch, self-serve path. This is the initial entry point for many, leveraging the platform's inherent usability. Honestly, the company has been strategically shifting away from relying solely on this viral, self-serve strategy toward a more sales-led model to capture larger accounts, but the self-serve entry remains critical for volume. As of early 2025, monday.com Ltd. served approximately 245,000 customers, though this number grew to over 250,000 by late 2025.

Dedicated Account Management

For the high-value segment, the relationship becomes high-touch. This is where dedicated resources focus on driving deeper platform adoption and expansion within large organizations. The success of this strategy is clear in the growth metrics for larger clients. For instance, the number of paid customers with over $100,000 in Annual Recurring Revenue (ARR) grew by an impressive 46% year-over-year in the second quarter of 2025. Furthermore, the monday CRM product alone achieved $100 million in ARR just three years after launch, showing success in upselling specialized solutions.

Here's a snapshot of how retention metrics reflect the success of this upmarket focus:

Customer Segment Metric	Reported Rate/Value	Reporting Period/Context
Overall Net Dollar Retention (NDR)	111%	Q2 Fiscal Year 2025
NDR for Customers with >10 Users	115%	Q1 Fiscal Year 2025
NDR for Customers with > $50,000 ARR	116%	Q1 Fiscal Year 2024
Customers with > $100,000 ARR Growth	46%	Year-over-Year, Q2 2025

Community and Forum Support

Leveraging the scale of the user base for peer-to-peer assistance is a key efficiency driver. The monday Community Forum acts as a hub where members share ideas, ask questions, and explain use cases, which helps deflect simple support tickets. You can see active discussions on feature requests, API usage, and specific workflow challenges, showing a vibrant, self-regulating ecosystem.

• A place for members to share ideas and use cases.
• Active threads on platform discussions and feature requests.
• Dedicated sections for apps and developer resources.

In-Product AI Support

Immediate, contextual help is increasingly delivered via embedded artificial intelligence. The company's AI vision centers on making intelligence accessible directly within workflows. The monday sidekick is one of the announced AI-powered capabilities aimed at providing this immediate assistance. This is building on prior momentum, as customers had already performed approximately 10 million AI-powered actions by the end of FY24. The platform also introduced monday Expert, planned for a Q2 2025 launch, to further enhance automation and decision-making. The monday vibe feature has also seen massive adoption, enabling the creation of over 60,000 apps to date.

Expansion Focus

The core of the growth strategy involves prioritizing cross-selling and upselling to drive expansion revenue within existing accounts. The stated goal for this focus is driving 117% NDR for large customers, indicating a strong expectation for net revenue expansion even as the overall NDR settled around 111% in Q2 2025. This expansion is fueled by the multi-product platform strategy, where newer offerings like monday CRM, monday Dev, and monday Service now contribute more than 10% of total ARR as of Q3 2025.

• Prioritizing cross-selling of the multi-product suite.
• Targeting 117% NDR specifically for the large customer cohort.
• Newer products grew more than 80% year-over-year in Q3 2025.

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Channels

You're looking at how monday.com Ltd. gets its Work OS into the hands of customers, which is definitely shifting toward larger deals as of late 2025. The strategy is clearly moving upmarket, which impacts how they use each channel.

Direct Sales Force: Inside and field sales teams targeting enterprise accounts.

The focus is on larger customers, which means the direct sales force is crucial for closing these bigger, more complex deals. You can see this push in the growth of high-value accounts.

• The number of paid customers with more than $100,000 in Annual Recurring Revenue (ARR) was 1,603 as of September 30, 2025, marking a 48% year-over-year increase.
• Customers with more than $500,000 in ARR reached 78 in Q3 2025, a 73% increase from 45 as of September 30, 2024.
• The monday CRM product recently hit $100 million in ARR as of the second quarter of fiscal year 2025, just three years after launch.
• The company is actively rebalancing go-to-market investment toward mid-funnel channels that target these larger opportunities, even though this brings longer sales cycles.

Online Self-Service: Website and app stores for trial and subscription sign-ups.

This channel captures the long tail and smaller-to-midsize business sign-ups, though management noted some choppiness in top-of-funnel activity in Q3 2025.

• Total paid customers with more than 10 users stood at 63,075 on September 30, 2025, a 7% increase from 58,760 on September 30, 2024.
• The overall Net Dollar Retention (NDR) rate was reported at 111% for Q3 2025.
• For customers with over 10 users, the NDR was 115% in Q3 2025.

Partner Ecosystem: Channel and referral partners for regional and specialized sales.

The partner ecosystem is a significant growth lever, especially with new specialization frameworks driving revenue in key areas like CRM.

• As of February 2025, monday.com had over 270 solution partners globally.
• Solution partners increased by 24 percent over the year leading up to February 2025.
• Specialist Partners in the CRM specialization now contribute 50% of the CRM channel ARR.
• Over 600 professionals from more than 50 countries were part of the partner ecosystem at the February 2025 Partner Summit.

App Marketplace: Distribution of third-party and custom apps (monday vibe).

The marketplace acts as an extension of the core platform, with custom apps built on platforms like monday Vibe showing rapid adoption.

• The monday.com Marketplace hosted 650 available applications as of February 2025.
• The number of available applications grew by 59 percent in the year leading up to February 2025.
• New products, including monday Service, now account for more than 10% of total ARR as of Q3 2025.
• Over 60000 apps have been built on monday Vibe in approximately 3 months as of Q3 2025.

Digital Marketing: Performance marketing and SEO for lead generation.

While the company is shifting focus upmarket, digital channels remain important for the broader customer base, despite recent acknowledged choppiness.

• Advertising expenditure increased from $98,423 in 2019 to $203,235 in 2023.
• The company is monitoring stabilization or improvement in mid-market and SMB customer acquisition channels.

Here's a quick look at how key customer segments, often indicative of channel success, are performing as of late 2025:

Metric	Value (Q3 2025 End Date)	Year-over-Year Growth
Total Paid Customers (>10 Users)	63,075	7%
Customers (>$50,000 ARR)	3,993	37%
Customers (>$100,000 ARR)	1,603	48%
Customers (>$500,000 ARR)	78	73%

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Customer Segments

You're looking at how monday.com Ltd. segments its buyers to drive growth, especially as they push further upmarket. The focus is clearly shifting toward larger, more established organizations, but the core base is still critical for volume.

Enterprise Customers are a major growth engine now. Companies spending over $100,000 in ARR (Annual Recurring Revenue) are a key focus, and this segment is pulling a larger share of the total revenue pie. As of the third quarter of 2025, these large accounts now represent 27% of ARR, which is a nice bump up from 22% at the end of the third quarter of 2024. That's defintely a sign of successful enterprise sales execution.

Mid-Market Businesses are the next layer down, often focused on scaling their operations across multiple departments. We can track this group by looking at customers with over $50,000 in ARR. This cohort now makes up 40% of ARR as of Q3 2025, up from 34% a year prior. The company added 291 net new customers in this $50k+ ARR bracket during Q3 2025 alone.

Small and Medium Businesses (SMBs) remain the foundation, often starting with a self-serve trial or lower-tier plan. The total customer base was approximately 245,000 customers as of Q2 2025. These smaller accounts are crucial for product-led growth and feeding the funnel for future expansion.

Diverse Teams show the platform's breadth beyond its original project management use case. The multi-product strategy is working, as new products like monday CRM, monday dev, monday service, and monday campaigns now account for more than 10% of total ARR as of Q3 2025. monday CRM, for instance, recently crossed the $100 million in ARR mark, only three years after its launch.

Here are the latest hard numbers we have on the paid user base and key enterprise tiers, primarily reflecting the Q3 2025 report, but including the specific Q2 2025 metric you requested:

• Paid User Base: Over 61,803 customers with more than 10 users (Q2 2025).
• The number of paid customers with more than 10 users grew to 63,075 as of September 30, 2024, representing 81% of ARR in Q3 2025.
• The largest customers are clearly driving expansion; the net dollar retention rate for customers with more than $100,000 in ARR was 117% in Q3 2025.

To give you a clearer picture of the customer value distribution based on the latest available data (Q3 2025):

Customer Segment (ARR)	Percentage of Total ARR (Q3 2025)	Number of Customers (Q3 2025)	Year-over-Year Customer Growth (Q3 2025 vs Q3 2024)
Over $500,000	6%	78	73%
Over $100,000	27%	1,603	48%
Over $50,000	40%	3,993	37%

The growth in the number of customers over $100,000 in ARR was 48% year-over-year as of Q3 2025, showing that the enterprise focus is translating into more high-value logos. Also, the largest customer segment, those over $500,000 in ARR, grew its customer count by 73% to reach 78 customers.

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Cost Structure

You're looking at the engine room of monday.com Ltd. (MNDY) to see where the money actually goes to keep this Work OS humming and growing. Honestly, for a company scaling this fast, the cost structure is a direct reflection of its growth strategy-heavy on acquisition and innovation.

Investment in Product and Market Penetration

The biggest levers pulling on the expense side are definitely product development and getting that product into new hands. R&D (Research and Development) is a significant cost driver, showing a major commitment to staying ahead, especially with AI integration. For the full year 2025, management is guiding that they are putting about 18% of revenue back into R&D to fuel that innovation pipeline, including features like monday magic and monday sidekick. Also, Sales and Marketing (S&M) spend remains high, which makes sense as they push for upmarket expansion and continue to acquire new customers. This S&M spend is projected to be around 48% of the full-year 2025 revenue. That's a substantial investment to drive the expected full-year revenue between $1,226 million and $1,228 million.

Here's the quick math on those two major spending categories based on the midpoint of the revenue guidance:

Cost Category	FY 2025 % of Revenue (Est.)	FY 2025 Estimated Spend (Millions USD)
Sales and Marketing (S&M)	48%	~$589.0
Research & Development (R&D)	18%	~$220.9

Workforce and Platform Scaling

Personnel Costs are naturally high given the global scale of operations and the need for top engineering and sales talent. As of September 30, 2025, monday.com Ltd. had 3,018 employees on the payroll. That's a global workforce you need to compensate well to keep that innovation engine running. To support this global platform and the increasing customer base, Cloud Infrastructure costs are a necessary, ongoing expense, covering hosting and the scaling required for their Work OS.

The focus on efficiency, however, is clear when you look at profitability alongside these costs. The company is driving toward better operating leverage, which you can see in the expected bottom line:

• Full-year 2025 non-GAAP operating income is expected to be between $167 million and $169 million.
• This translates to an expected non-GAAP operating margin of approximately 14% for the full year 2025.
• For context, the Q3 2025 non-GAAP operating margin hit 15%, up from around 7% in 2024.

Key Cost Structure Components

When you break down the major cost buckets, you see where the operational discipline is being applied, even while spending heavily on growth. The company is managing to grow revenue at about 26% year-over-year while simultaneously improving margins, which is a tough balancing act. The costs are heavily weighted toward acquiring and serving customers, but the return on that spend is showing up in the operating income guidance.

Here is a summary of the key figures driving the cost structure:

• Personnel base of 3,018 employees as of September 30, 2025.
• R&D spend estimated at 18% of revenue for FY 2025.
• S&M spend estimated at 48% of revenue for FY 2025.
• Expected full-year 2025 non-GAAP operating income in the range of $167 million to $169 million.
• Cloud Infrastructure is a variable but essential cost for platform scaling.

Finance: draft 13-week cash view by Friday.

monday.com Ltd. (MNDY) - Canvas Business Model: Revenue Streams

You're looking at how monday.com Ltd. actually brings in the cash, and it's definitely centered on recurring software access. The core of their revenue engine is the subscription model, which scales up based on what features you need and how many people (seats) are using the platform.

Subscription Fees are structured in a clear, tiered fashion. You start with the entry-level plans and move up as your team's needs for automation, reporting, and security grow. Honestly, the jump in capability between tiers is what drives the upsell.

Pricing Tier	Annual Billed Cost (Per Seat/Month)	Minimum Seats Required	Key Feature Differentiator
Basic	$9	3	Unlimited boards and items
Standard	$12	3	Timeline & Gantt views, 250 Automations/month
Pro	$19	3	Private boards, Time tracking, 25,000 Automations/month
Enterprise	Custom Quote (Benchmark approx. $40)	Varies (Quote-based)	Enterprise-grade security, HIPAA compliance, 250,000 automation actions/month

Also, monday.com Ltd. is successfully driving revenue from its specialized offerings, which is key to moving upmarket. The platform is no longer just project management; it's a Work OS with distinct product lines.

• monday CRM recently hit $100 million in ARR as of the second quarter of 2025.
• New products, as a group, accounted for more than 10% of total ARR as of the third quarter of 2025.
• The platform includes monday dev, which has a base cost starting around $9 per seat/month billed annually for its entry level.

We're also seeing the introduction of Usage-Based Fees, which is a smart way to monetize new features without constantly adjusting the base subscription price. This is where the AI push really shows up in the financials.

• Every paid seat gets 500 AI credits per month included in their subscription.
• The monday vibe platform saw more than 60,000 apps built on it in approximately 3 months leading up to the third quarter of 2025.
• Only subscribers of the top 3 paid plans can purchase the additional AI add-on.

Finally, the big money is coming from Enterprise Contracts. These large, multi-year deals provide significant, predictable Annual Recurring Revenue (ARR) and show the platform's success in landing bigger customers. You can see this momentum in their customer cohort growth.

• The number of paid customers with more than $100,000 in ARR reached 1,472 as of June 30, 2025, a 46% increase year-over-year.
• Customers with over $50,000 in ARR totaled 3,702 as of June 30, 2025, up 36% from the prior year.

For the full-year 2025 outlook, monday.com Ltd. is guiding for Total Revenue between $1,226 million to $1,228 million, which represents approximately 26% year-over-year growth based on the third quarter guidance. That's a solid number to anchor your valuation on. Finance: draft 13-week cash view by Friday.