monday.com (MNDY) J.P. Morgan 54th Annual Global Technology, Media and Communications Conference summary

Company overview and platform evolution

• Serves 250,000 paying customers across 200+ industries, supporting workflows from manufacturing to clinical trials.

• Platform is highly scalable and simple, enabling both small teams and large enterprises to orchestrate operations.

• Recently shifted vision from managing work to enabling work through AI, launching an agent platform and updating pricing models.

• New pricing combines seat-based and consumption-based models, requiring AI integration for new customers.

• Focus is on building infrastructure for seamless collaboration between people and AI agents in large organizations.

AI strategy and adoption

• AI is seen as a much larger market opportunity than traditional software, driving a full strategic pivot.

• AI features, such as agents and Vibe, contributed 10% of net new ARR in Q1, with strong enterprise momentum.

• Adoption is in early stages, with customers experimenting and building thousands of agents for diverse tasks.

• Agents are designed to be self-improving and self-reflective, making them easier to train and deploy.

• Marketplace Agentalent.ai allows enterprises to hire AI agents for specific roles, bridging technical gaps.

Financial performance and business model

• Q2 revenue guidance reflects a 1% sequential growth due to lapping prior pricing adjustments and SMB softness.

• Enterprise segment shows strong expansion, offsetting weaker SMB performance.

• New hybrid pricing model (seats plus credits) aims to align revenue with AI-driven usage and customer value.

• Short-term revenue is a mix of seat and consumption, with a gradual shift toward consumption expected long-term.

• Early customer feedback on the new model is positive, with long-term customers adopting agents to digitize operations.