Monday.com Ltd. (MNDY): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des logiciels de gestion du travail, lundi.com apparaît comme une plate-forme révolutionnaire transformant la façon dont les équipes collaborent et exécutent des projets. En mélangeant ingénieusement l'automatisation du flux de travail visuel avec une interface intuitive sans code, cette solution SaaS innovante permet aux entreprises de toutes tailles de rationaliser leurs opérations et de stimuler la productivité. Des petites startups aux grandes entreprises, le système d'exploitation flexible de lundi.com est rapidement devenu un outil de changement de jeu qui réinvente la coordination de l'équipe, le suivi du projet et l'efficacité organisationnelle dans un lieu de travail de plus en plus numérique.

Monday.com Ltd. (MNDY) - Modèle d'entreprise: partenariats clés

Intégrations technologiques stratégiques

Lundi.com maintient des partenariats technologiques stratégiques avec:

Partenaire	Détails de l'intégration	Année établie
Salesforce	Synchronisation des données CRM	2021
Microsoft	Équipes et intégration Office 365	2020
Mou	Intégration de communication de workflow	2019
Zoom	Collaboration de vidéoconférence	2020

Partenariats d'infrastructure cloud

Le principal partenaire d'infrastructure cloud de lundi.com:

• Amazon Web Services (AWS) - fournisseur d'hébergement cloud principal
• Infrastructure d'hébergement couvrant la disponibilité de 99,99%
• Présence du centre de données mondial dans plusieurs régions

Écosystème de développement de logiciels

L'écosystème de collaboration comprend:

Partenaire d'écosystème	Type de collaboration
Github	Intégration du référentiel de code
Gitlab	Intégration du flux de travail DevOps
Atlassien	Synchronisation des outils de gestion de projet

Partenariats de canaux

Les partenariats mondiaux d'intégrateur de systèmes comprennent:

• Deloitte Digital
• Accentuation
• Services numériques PwC

Implémentations de la société de conseil

Partners des services de mise en œuvre de l'entreprise:

Cabinet de conseil	Focus de la mise en œuvre
Kpmg	Optimisation du workflow d'entreprise
McKinsey Digital	Conseil de transformation organisationnelle
Groupe de conseil à Boston	Stratégie de travail numérique

Monday.com Ltd. (MNDY) - Modèle d'entreprise: Activités clés

Développement de logiciels continu et amélioration de la plate-forme

Au troisième trimestre 2023, lundi.com a investi 41,8 millions de dollars dans la recherche et le développement, ce qui représente 37,5% des revenus totaux.

Métrique de développement	Valeur 2023
Dépenses de R&D	41,8 millions de dollars
R&D en% des revenus	37.5%
Ingénieurs logiciels totaux	438
Mises à jour annuelles de la plate-forme	12-15

Succès et opérations de support des clients

Lundi.com maintient une équipe mondiale de support client dans plusieurs régions.

• Disponibilité du support client 24/7
• Canaux de support linguistiques multiples
• Temps de réponse moyen: 2,5 heures

Stratégies de marketing et d'acquisition des clients

Métrique marketing	Valeur 2023
Frais de marketing	97,3 millions de dollars
Coût d'acquisition des clients	41 $ par client
Acquisition annuelle de nouveaux clients	22,500

Innovation de produit et développement de fonctionnalités

Lundi.com a lancé 38 nouvelles fonctionnalités de produit en 2023, en mettant un accent significatif sur l'intégration de l'IA.

• Automatisation du workflow propulsé par l'IA
• Capacités d'intégration améliorées
• Extensions personnalisables du tableau de bord

Recherche et développement de solutions de gestion du travail alimentées par l'IA

L'équipe de recherche sur l'IA dédiée de 67 spécialistes axée sur les innovations technologiques de gestion du travail.

Métrique de développement de l'IA	Valeur 2023
Taille de l'équipe de recherche AI	67 spécialistes
Implémentations des fonctionnalités AI	12 nouvelles capacités d'IA
Investissement de R&D AI	18,6 millions de dollars

Monday.com Ltd. (MNDY) - Modèle d'entreprise: Ressources clés

Plateforme avancée du système d'exploitation de travail (Work OS)

La plate-forme principale de lundi.com sert de ressource clé critique, soutenant plus de 186 000 clients dans le monde au cours du troisième trimestre 2023. La plate-forme permet la gestion du flux de travail dans plus de 200 industries.

Métrique de la plate-forme	Données quantitatives
Total des clients	186,000+
Les industries servies	200+
Revenus récurrents annuels (2023)	679,3 millions de dollars

Équipe de développement de logiciels propriétaires

La société maintient une main-d'œuvre de génie logiciel robuste.

• Total des employés (2023): 1 504
• Dépenses de R&D (2023): 231,1 millions de dollars
• Pourcentage d'ingénieurs logiciels: environ 40 à 45% du total des effectifs

Infrastructure technologique basée sur le cloud

Lundi.com utilise une infrastructure cloud avancée en soutenant les opérations mondiales.

Métrique d'infrastructure	Spécification
Fournisseur d'hébergement cloud	Amazon Web Services (AWS)
Centres de données mondiaux	Plusieurs régions du monde
Investissement annuel sur les infrastructures cloud	45 à 50 millions de dollars

Propriété intellectuelle et brevets logiciels

Lundi.com maintient un fort portefeuille de propriété intellectuelle.

• Demandes totales de brevets: 12-15
• Brevets logiciels actifs: 8
• Investissement en brevet (2023): 3,2 millions de dollars

Bassin de talents mondiaux

L'entreprise tire parti d'une main-d'œuvre internationale diversifiée avec une expertise SaaS.

Métrique de talent	Point de données
Total des employés	1,504
Bureaux internationaux	6 emplacements mondiaux
Taux de rétention des employés	85%

Monday.com Ltd. (MNDY) - Modèle d'entreprise: propositions de valeur

Plateforme de gestion du travail flexible et personnalisable

Lundi.com propose plus de 200 modèles prédéfinis dans 14 industries différentes à partir de 2024. La plate-forme prend en charge plus de 200 intégrations avec des outils logiciels tiers.

Catégories de modèles	Nombre de modèles
Gestion de projet	65
Commercialisation	45
Ventes	35
HEURE	25
Développement	30

Collaboration visuelle et automatisation du flux de travail

Les capacités d'automatisation du flux de travail comprennent:

• Affectations de tâches automatisées
• Mises à jour du statut en temps réel
• Notifications basées sur le déclenchement
• Création de règles personnalisées

Fonction d'automatisation	Pourcentage d'utilisation
Routage des tâches	78%
Suivi de statut	85%
Alertes de la date limite	72%

Outils de suivi du projet en temps réel et de productivité de l'équipe

Les mesures de suivi de la productivité montrent une amélioration de 40% de l'efficacité de l'équipe pour les utilisateurs implémentant la plate-forme de lundi.com.

• Fonctionnalités de suivi du temps
• Tableaux de bord de performance
• Outils d'allocation des ressources

Interface intuitive sans code / faible code

La plate-forme prend en charge la création de cartes personnalisées avec une note d'interface conviviale à 92%. Temps de configuration moyen: 15 minutes pour les nouveaux espaces de travail.

Complexité d'interface	Satisfaction de l'utilisateur
Facile	68%
Modéré	24%
Complexe	8%

Capacités d'évolutivité et d'intégration de qualité d'entreprise

Les clients d'entreprise représentent 35% du total des revenus. La plate-forme prend en charge la mise à l'échelle de plus de 5 à 5 000 utilisateurs de manière transparente.

• SOC 2 TYPE II conforme
• Certifié du RGPD et du CCPA
• Cryptage 256 bits

Fonctionnalité d'entreprise	Disponibilité
Connexion unique	Oui
Autorisation avancée	Oui
Domaine personnalisé	Oui

Monday.com Ltd. (MNDY) - Modèle d'entreprise: relations avec les clients

Intégration en libre-service numérique

Lundi.com propose un processus d'intégration en libre-service numérique avec les caractéristiques clés suivantes:

• Durée gratuite de l'essai: 14 jours
• Création de compte instantané sans exigence de carte de crédit
• Procédure de produit automatisée et assistant de configuration

Métrique d'intégration	Valeur
Temps moyen pour la première valeur	Moins de 30 minutes
Taux d'activation de l'utilisateur	68%

Ressources de support en ligne complètes

Lundi.com fournit une vaste infrastructure de support en ligne:

• Centre d'aide en ligne 24/7
• Bibliothèque de documentation complète
• Tutoriels et guides vidéo

Canal de support	Temps de réponse
Assistance par e-mail	Moins de 24 heures
Chat en direct	En 5 minutes

Gestion de réussite client personnalisée

Gestionnaires de réussite des clients dédiés Fournir un support sur mesure pour les clients d'entreprise et de niveau supérieur.

• Les gestionnaires de réussite attribués pour les comptes d'entreprise
• Avis sur les entreprises trimestrielles
• Stratégies de mise en œuvre personnalisées

Forums d'utilisateurs et base de connaissances axées sur la communauté

Lundi.com maintient les plateformes de fiançailles communautaires actives:

• Forum communautaire lundi.com
• Contenu et modèles générés par l'utilisateur
• Réseau de support entre pairs

Métrique communautaire	Valeur
Membres de la communauté active	Plus de 100 000
Interactions communautaires mensuelles	50,000+

Webinaires de produits réguliers et séances de formation

Apprentissage continu et engagement grâce à des programmes de formation structurés:

• Webinaires hebdomadaires de produits en direct
• Modules de formation à la demande
• Programmes de certification

Métrique de formation	Valeur
Participants au webinaire mensuel	5,000+
Utilisateurs certifiés	15,000

Monday.com Ltd. (MNDY) - Modèle d'entreprise: Channeaux

Plateforme de vente en ligne directe

Lundi.com a généré 679,4 millions de dollars de revenus pour l'exercice 2022. La plate-forme de vente en ligne directe de la société représente environ 67% des ventes totales, ce qui représente environ 455 millions de dollars de revenus numériques directs.

Canal de vente	Pourcentage	Contribution des revenus
Plate-forme en ligne directe	67%	455 millions de dollars

Équipe de vente d'entreprise

L'équipe de vente d'entreprise de lundi.com vise à mi-marché et aux grands clients des entreprises. Au troisième trimestre 2023, la société a signalé 221 000 clients, avec des clients d'entreprise représentant 37% de la clientèle totale.

Segment de clientèle	Nombre de clients	Pourcentage
Total des clients	221,000	100%
Entreprenants	81,770	37%

Campagnes de marketing numérique

Lundi.com a investi 229,7 millions de dollars dans les frais de vente et de marketing en 2022, qui comprend des campagnes de marketing numérique sur plusieurs canaux.

Les marchés et les intégrations de l'application

Lundi.com propose des intégrations avec plus de 200 applications tierces, notamment:

• Salesforce
• Microsoft Teams
• Mou
• Google Workspace
• Zoom

Réseaux de référence partenaires

L'entreprise a établi des partenariats stratégiques avec les cabinets de conseil en technologie et les revendeurs. Les revenus générés par les partenaires contribuent à environ 15 à 20% du total des ventes.

Canal de partenaire	Contribution des revenus
Partenaires de conseil en technologie	12%
Réseaux de revendeur	8%

Monday.com Ltd. (MNDY) - Modèle d'entreprise: segments de clientèle

Petites et moyennes entreprises

Au quatrième trimestre 2023, lundi.com a déclaré 191 000 clients payants, avec une partie importante comprenant de petites et moyennes entreprises (PME).

Métriques du segment SMB	Valeur
Valeur du contrat annuel moyen	$7,800
Taux de rétention de la clientèle SMB	90%

Grandes organisations d'entreprise

Lundi.com a élargi sa clientèle d'entreprise, avec 25% des revenus totaux provenant de clients dépensant plus de 50 000 $ par an.

Métriques du segment d'entreprise	Valeur
Nombre de clients d'entreprise	1,350
Valeur du contrat annuel moyen de l'entreprise	$82,500

Équipes professionnelles de l'industrie interdite

Lundi.com dessert plusieurs industries avec son système d'exploitation de travail.

• Technologie: 28% de la clientèle
• Marketing et publicité: 19% de la clientèle
• Services professionnels: 15% de la clientèle
• Santé: 12% de la clientèle
• Éducation: 8% de la clientèle

Professionnels de la gestion de projet

La plate-forme cible spécifiquement les professionnels de la gestion de projet dans divers secteurs.

Segment de gestion de projet	Valeur
Utilisateurs de gestion de projet	45% de la base d'utilisateurs totaux
Utilisateurs actifs mensuels moyens par organisation	37

Équipes de main-d'œuvre éloignées et distribuées

Lundi.com a connu une croissance significative des outils de collaboration de travail à distance.

• Taux d'adoption d'équipe à distance: Augmentation de 62% en 2023
• Équipes mondiales distribuées: 35% de la clientèle

lundi.com Ltd. (MNDY) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2022, lundi.com a déclaré des dépenses de R&D de 155,8 millions de dollars, ce qui représente 37,1% des revenus totaux.

Exercice fiscal	Dépenses de R&D	Pourcentage de revenus
2022	155,8 millions de dollars	37.1%
2021	106,4 millions de dollars	40.5%

Investissements de vente et de marketing

Les frais de vente et de marketing de lundi.com en 2022 ont totalisé 264,1 millions de dollars, représentant 63% du total des revenus.

• 2022 Ventes et dépenses de marketing: 264,1 millions de dollars
• 2021 Ventes et dépenses de marketing: 186,9 millions de dollars

Maintenance des infrastructures cloud

Les coûts d'infrastructure cloud pour lundi.com font partie de leur coût des revenus, qui était de 41,8 millions de dollars en 2022.

Exercice fiscal	Coût des revenus
2022	41,8 millions de dollars
2021	26,4 millions de dollars

Frais d'acquisition du personnel et des talents

Les dépenses d'exploitation totales liées au personnel en 2022 étaient de 467,2 millions de dollars.

• Effectif total en 2022: 1 457 employés
• Coût moyen par employé: environ 320 000 $

Soutien client et opérations de réussite

Les dépenses du support client sont intégrées dans les frais de vente et de marketing et d'administration générale.

Catégorie de dépenses	2022 Montant
Général et administratif	83,9 millions de dollars
Ventes et marketing	264,1 millions de dollars

Monday.com Ltd. (MNDY) - Modèle d'entreprise: Strots de revenus

Modèle de tarification basé sur l'abonnement

Lundi.com génère des revenus principalement par le biais d'un modèle basé sur l'abonnement avec 679,4 millions de dollars de revenus totaux pour l'exercice 2022, ce qui représente une croissance de 47% d'une année à l'autre.

Plans de prix à plusieurs niveaux

Type de plan	Prix ​​mensuel par utilisateur	Caractéristiques clés
Basic	$8	Caractéristiques de collaboration limitées
Standard	$10	Gestion avancée du workflow
Pro	$16	Représentations au niveau de l'entreprise
Entreprise	Prix ​​personnalisés	Personnalisation complète de la plate-forme

Revenus récurrents mensuels / annuels par utilisateur

Au troisième trimestre 2023, lundi.com a rapporté:

• Taux de rétention des revenus nets: 125%
• Revenu moyen par client payant: 13 451 $
• Clients payants totaux: 186 700

Services professionnels et conseil

Les sources de revenus supplémentaires comprennent:

• Conseil d'implémentation
• Conception de workflow personnalisée
• Services de formation et d'intégration

Fonctionnalité supplémentaire et monétisation complémentaire

Service complémentaire	Prix ​​mensuel
Intégrations avancées	$50-$200
Support premium	$100-$500
Développement de tableau de bord personnalisé	$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.